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POS Buyer's Guide - Introduction
Published: 04/17/2011
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» Merchant Services
»» POS Systems
Introduction
Few purchases can have as dramatic an effect on your retail or hospitality business as a point of sale (POS) system. The right POS system will give you a new level of control over your operations, increasing efficiency, boosting profits, and helping you fine‐tune your business model. The wrong system, however, can be a waste of money and a source of ongoing frustration.
Switching from a traditional cash register to a computerized POS system can be difficult – there are many factors to consider and some pitfalls to avoid. However the return on investment and benefits to your business can really make it worth your time and effort.
In the most basic sense, a POS system is a glorified cash register. The most basic POS system consists of a computer, a cash drawer, receipt printer, a monitor, and an input device such as a keyboard or scanner. However, in addition to being more efficient than cash registers, POS systems can create detailed reports that can help you make more informed business decisions.
POS systems save money, provide productivity gains, and can cut down the amount of time you spend away from the primary focus of your business. This POS System Buyer's Guide will walk you through the process of evaluating multiple POS vendors and choosing the right system.
Table of contents
Hospitality POS vs. retail POS
Pricing guidelines
POS systems come in a wide variety of sizes and setups that we'll outline in this guide, and so pricing can vary quite a bit. We'll cover pricing in more detail later, but here's the summary:
|
Type of system |
Estimated cost
|
|
Programmed, installed, customized |
$2,500 ‐ $6,000 per terminal
|
|
Off‐the‐shelf |
$1,000 ‐ $3,000 per terminal
|
