A Point-of-Sale System (POS System) is a cash register and inventory management system combined into one. A POS System allows you to maintain sales history, adjust production or buying decisions as well as analyze sales data to figure out how well all the items (on an item-by-item basis) on your shelves are selling.  You can then adjust purchasing levels accordingly. We’ve listed out some key points to consider before purchasing one.  

• Identify your business’s needs: Once you have decided you need a POS system, it is important that you find one that integrates into your business well. Will you need a system that can work in several different locations such as a farmer’s market, on the farm, and at festivals or will it only be used in your retail facility? What does the system need to do? (i.e. manage inventory, customer list maintenance, reporting, etc.) Is the system compatible with your current accounting system? Will you be able to input sales data easily? Can the program scale up as your business grows?  

• Set a Budget: The equipment and software can be pricey and it’s important to analyze whether you need a completely new system or if you can adjust your existing system to improve efficiency. Don’t forget to budget for additional expenses that may be incurred for program startup including internet access or a power supply.   

• Consider how much customer support you need: Quality equipment is important, but you also want to make sure you are working with a company that provides great customer support once your system is in place. Does your vendor offer training programs for new clients? Are they available to help set up the initial system? 

There are many different factors to consider when searching for the right POS system for your business. If you have questions or would like help with POS systems, feel free to contact KCARD at (859) 550-3972 or kcard@kcard.info.