Your point of sale system or “POS” system is quite possibly the most essential piece of equipment that you’ll have when running a public facing business. It houses all of the inventory of products and services which you’re selling and organizes them in a line item fashion when a customer places an order. The two main features of a POS system are the software and hardware to look at it very simply. But the contents and the scale of each piece are where things can become more complicated and more expensive. We’ve put together an exhaustive explanation of how all of these things can affect the cost of running your point of sale system in your business in 2022.
POS System Hardware
The physical infrastructure of how your business will operate and communicate orders and other information to various employees resides within the hardware of your POS system. The hardware includes a great deal of networking pieces and equipment as well a great deal of interactive guest facing pieces for working with the customers and employees alike. Hardware costs vary widely with POS providers and the right POS with the right POS features will be something you should discuss with whichever POS vendor you decide to do business with. Some aspects of POS hardware include:
- Cash drawer/cash register
- Credit card reader
- Receipt printers
- QR and barcode scanners (depending on type of checkout structure)
- Employee kiosks
- Customer kiosks
- Customer displays and kitchen displays
Touchscreens have lately been all the rage for customer facing displays and table side handhelds at restaurants, which seamlessly allows the employees to easily navigate between dine-in, delivery, contactless take-out and even online-ordering functions.
POS System Software
Other than facilitating the customers orders and accepting payments, new point of sale systems come equipped with POS software that covers a great deal of administrative features and functionality which keep the business running at top shape for many of the necessary back office tasks such as: analytics and sales reports, employee time clock management, employee management and earnings (which can be transferred to quickbooks for easy payroll running). In addition to the previously stated capabilities, modern POS systems handle customer relationship management or CRM functions, loyalty programs, gift cards, inventory management, online ordering and eCommerce functions.
Retail POS System, Restaurant POS System or Other
The best POS systems, POS solutions and software varies widely depending on individual business needs, so a small business restaurant POS system won’t require the same things as a retail POS system. And the hardware will be powered either as a web based service or cloud based service, also known as “SaaS” or software as a service, such as Vend, instead of software fees rendered from equipment you have installed in your place of business which often you’ll pay a monthly subscription cost. Restaurant POS systems often need different capabilities with inventory and many mobile POS applications, so POS system pricing varies with larger businesses and if you require any back end merchant accounts which come with payment processing fees and other transaction fees.
POS Software Costs, Upfront Costs, Monthly Fees, Etc.
Different products offered by your point of sale system vendors like Pineapple POS with different capabilities make the additional costs fluctuate such as if you’ll need to use us as a payment processor, where credit card processing fees are usually a percentage of credit and debit transactions. Retail stores software pricing can fluctuate depending on if its integrated with eCommerce programs such as Shopify. Upfront costs for the newest most integrated systems such as Clover, Square and Toast are handhelds, iPads or other touchscreen terminal bundles and additional add-ons. The level of fees and upfront costs can be totally covered once the systems go to work and begin paying for themselves during their useful life operating your business.
Let Pineapple POS Help!
Pineapple POS has experience with many different applications of POS system installation and the costs associated with it. Pineapple POS is the best for local point of sale consultations, service, and support once installed. POS solutions are available for industries such as food and beverage, cafes, hotels/hospitality, eCommerce, retail and physical stores, sports, and entertainment. What is the right POS system for you? How can our POS systems maximize your business’ productivity at the lowest cost? Pineapple POS is proud to offer all of the most modern systems like Duet, Clover, Harbortouch, and Micros, including contactless card reading such as Apple Pay and Google Pay. Jarret Smotrila and the team at Pineapple POS can find the right POS solution for you and your business! Contact us today!