Touch Screen Terminal: All in One POS Terminal
Touch Screen Terminal
All new startups and even established businesses need to have a perfect POS (point-of-sale) system. Your customers will find it tough to make a payment if an appropriate POS system is not in place. Therefore, whether it is your new business or an existing one, you need to have a reliable POS system. There are various solutions available in the market. Due to the increasing popularity of touch systems against conventional computers, a touch screen terminal has become vital. Thus, you require an all-in-one POS terminal for your business. Having an all-in-one POS system helps you make the entire process easier.
Today, we will discuss why you need a touch screen all-in-one POS terminal. We will also help you know how to buy the best point of sale for your business.
What is a POS Touch Screen Terminal?
A POS all-in-one terminal is a total solution to cater to your primary business needs. You can see such systems at almost every shopping mall. This system includes hardware, software, inventory management, payment machines, scanners, KPI analysis, credit/debit card processing, and more. It means that it provides a total solution for your multiple business needs. Therefore, the POS system is a must for any business, especially stores and shopping malls.
Let’s take a quick look at different types of POS terminals that you should be aware of as a business owner:
1. Desktop Point of Sale
It is a popular and powerful platform to run your software. You would typically see a desktop point of sales at the cash counters while checking out. They often feature touch screen terminal systems for both customers and cashiers. Having a desktop POS terminal at checkout makes the transaction process convenient and faster.
If you are looking for a smaller solution for small operations, then a tablet would be the POS system for checkout. These are compact and portable systems, helping associates for opening new lanes in a fast manner. Another benefit of tablets is that they allow associates to process transactions even when they are not in store. Tablets are also less expensive POS systems than the desktop point of sales.
3. Cash Register
Cash register machines are another type of point of sale system that many stores use at their checkout counter. The drawer needs to accept and store receipts and cash in a safe manner. These machines are best for small restaurants and stores.
4. Payment Machines
There is no point of sale that does not accept payments. After all, payment collection is the purpose behind buying these POS machines. While purchasing a POS machine, make sure that it accepts multiple payment forms. Many modern-day POS machines accept contactless and EMV payments. You must understand that setting up the latest payment machines is not difficult or expensive at all. However, they are essential for every business.
5. Receipt Printers
More receipts we see today are digital rather than printed. However, many businesses are still using receipt printers. Therefore, you need to discuss this with the POS solution provider before buying any touch screen terminal for your business. A perfect solution should fulfill your requirements in all categories.
6. Barcode Scanners
If you are looking for an efficient and seamless inventory management solution, scanners can be an appropriate solution. These systems are comparatively expensive, so they are not an ideal choice for small businesses. However, barcode scanners seem a perfect option for businesses that maintains an extensive inventory.
The first place to get things going is the point of sale hardware. It is the primary mechanism of any POS system that makes the system function with other necessary elements. When it comes to hardware, there are various options with different functions and costs. Therefore, you must go through the functions of the POS hardware before selecting one. Yes, the cost of the hardware is also an essential factor that affects your buying decision.
The hardware of a POS system requires a point of sale program to run the system. Therefore, the software works as the heart of any POS system. The software helps you perform different operations by powering various features of the POS system. POS software integrates with the hardware solution. Different software types are used for different hardware according to their compatibility support, such as operating systems.
If you have specific hardware in the store, you should check for its compatibility with the software by talking to the software provider. Modern-day programs are cloud-based software. Therefore, users will have access to the metrics and data using any device connected to the internet. It is also helpful in making your data secure and also adds convenience for the management and owners.
The software of any POS touch screen terminal system is usually available for purchase as a SaaS (subscription service). It means that you can use the POS software by paying a monthly software fee. You will receive suture system updates and customer service without any additional cost. You can also buy software for lifetime use from some solution providers. However, there is a constant evolution in the POS software. So, it is better to opt for a monthly subscription to the software.
If we talk about the most significant feature of any POS system for a retail business, it has to be the inventory management feature. You need a perfect inventory system for ordering, pricing, vendor management, promotions, product performance, optimal stock levels, and more.
Sometimes, small businesses choose a rudimentary inventory system or manual bookkeeping. However, this approach proves time-consuming and doesn’t provide complete insight into their business performance. Above all, these methods also don’t tell you the solution to any issues.
Here are the most significant inventory management features you get with an inventory management program:
- Highlights irregularities, like missing product
- Real-time updates offer perpetual counts
- Merchandise mix cleanups
- Automated orders
- Stock notifications
Apart from the above-listed, there are also many other benefits that a professional inventory management system offers.
An ideal inventory management program offers excellent analysis and reporting. The software contains information about your product sales. Therefore, the point of sale can generate insightful and detailed reports about an individual product and overall performance. You can use these reports to plan your promotions, future orders, and set your employee schedules in a better way.
Reporting also allows you to determine your shelving placement. You can assess these factors according to the detailed KPI (key performance indicator) reports.
- Sell-through rate
- Gross margin
- Sales by time
- Retail area wise sales
- Conversion rates
- The average price of the ticket
- Turnover rates
- Refund/return rate
- Gross margin ROI
There is no need for sifting through enormous data to analyze the overall performance. Let the POS do this job for you. You can generate reports in a matter of few seconds.
Typically, POS software is enough to perform multiple vital things for you. However, some additional features and functions can target specific niches for enhanced performance and results. Therefore, you can integrate those extra features and functions with the system according to your niche for improved inventory management. Here are a few of them:
It is crucial to keep all the data consolidated between every sale channel if you are an online retailer. So, you can integrate your POS with an e-Commerce platform.
Some businesses need a more vigorous loyalty program for their business. These programs assist in membership services, shipping, and email marketing. Therefore, think about whether you also need to integrate these programs with your point of sale solution.
Some POS software also comes with open APIs. It means that you have the choice to integrate different supporting software also with your POS system. Ask the solution provider about the services that you may need integration options for your business.
If you want to make your payroll and taxes straightforward, then you can integrate an accounting platform. It will make your data transfer fast and seamless.
Finally, the point of sale is an essential part of any business operation. Therefore, make sure that the POS system always performs well. It is necessary to ensure that you keep benefiting from all point of sale features without interruption. A modern-day POS touch screen terminal comes with so many features and functions. Therefore, the operator needs adequate training to operate the program. Continued support from the solution provider is also essential.
Make sure that the provider doesn’t charge extra costs for after-sales service. Many POS solutions come with video tutorials user guides for a more significant learning process. So, continued support from the solution provider is also essential.
Choosing the Best POS System
The selection of a POS touch screen terminal system impacts a business in different ways. Therefore, you must make sure that you are purchasing a perfect POS system for your business. Choosing the best POS requires you to pay attention to various critical factors. First of all, you should know how many users will use this system to make payments and your inventory size. After that, you should consider the below-listed factors that are equally important.
- Upfront cost
- Payment processing costs
- Rental fees/equipment costs
- Point of sale software fees
- Other processing fees (e.g., chargeback fees, PCI-compliance fee
- Mobility level
- Point of sale software features
- Payment types it accepts
Apart from the above-listed factors, you must also check the PCI compliance of the POS system. You need to know how you would be processing payments, connecting systems, and managing your customers’ data securely. Different POS systems operate differently. So, you must compare a few POS systems to check the most appropriate system according to your business.
A reliable POS system is an essential requirement of every small to large business. It is vital for expediting the customers’ payment execution process. On the other hand, it also helps the company professionally manage its inventory. There are different types of point of sale systems available.
You should pick the best kind by comparing their features and services. When comparing the POS features and functions, you must keep in mind your business’s specific requirements. Do not forget to buy a high-quality POS system because it will prove beneficial in many ways in the long run.
For More Information, Contact Us Today!