February 19, 2010

POS terminals: How to choose one

Point of sales (POS) terminals are much more than cash registers. They include hardware and software to keep track of sales, labour, and payroll. Choosing an appropriate terminal will save you and your staff time, and will make your customer experience as seamless as possible.

This article highlights five things that you should consider when choosing a terminal:

• Cost
• Customer service
• Speed
• Ease of customization
• Efficiency

Cost

Cost is usually the primary consideration for businesses, and there are many options for POS terminals to suit a variety of budgets. H&L and Micros are two of the most highly rated providers of POS terminals. While these systems cost more, clients with complex needs report excellent ROI. Smaller businesses may have simpler needs, and options are available to suit smaller budgets. Ultimately, you should choose the terminal that best meets your needs, at the best possible price.

Customer service

It’s important to purchase your terminal from a provider who offers great customer service, because you will probably need their assistance in the future. For example, you may have a technical problem with your terminal. A quick response from the terminal provider will save you time and money, not to mention aggravation. To screen a prospective provider for good customer service, ask the following questions:

• Do you have a guaranteed turnaround time for customer support?
• What is the availability of technical support? Is there 24-hour or after-hours service?
• Are there any fees associated with customer service after the initial purchase?
• Are software upgrades included in the initial purchase?
• Will I be assigned an account manager, or will I deal with many customer service representatives?

Having a dedicated account manager will offer more personalized service, and your account manager will be familiar with your company needs and history.

Speed

Your terminal should be fast enough to meet your business’s needs at peak times. If your business started small but has recently expanded, your existing terminal may not be suitable for higher volumes. Consult with your terminal provider to assess whether your terminal meets your current needs.

Ease of customization

You must be able to make changes to your terminal quickly and easily. You will need to update inventory, add new products and make staffing changes. Select a terminal that provides simple instructions or customer support to assist with customizations.

Efficiency

For optimum efficiency, look for integrated POS terminals that allow you to process a transaction only once. The information is entered into the terminal directly, saving your business the trouble of having to reconcile manually at the end of the day. VersaPay integrates seamlessly with most terminals and we are constantly adding new ones to our portfolio.

When choosing a terminal provider, consider cost, customer service, speed, ease of customization, and payment gateway integration. Even the best terminal is improved when you work with the right payment processor. VersaPay provides custom solutions that integrate with nearly all POS terminals, and dedicated relationship managers who offer personalized support.