Getting your business up and running is an exciting time. Creating your business plan, naming your business, purchasing inventory, and setting up shop can all be great fun, but what about payments? What type of technology are you planning to use to accept payments from your customers?
For brick-and-mortar locations, a cash register of some type is necessary in order to complete transactions with customers. This quick guide provides you with some information on the two options you have for payment acceptance at your new business.
Cash registers have changed dramatically over the decades. It is important that you understand the different options you have available so that you can make the best POS systems for your business. Keep reading to learn more.
Electronic Cash Registers
Electronic cash registers (ECRs) are basically electronic versions of old mechanical registers, and they don’t provide a lot of added benefits for today’s merchant. An electronic cash register allows you to connect with payment terminals for card purchases, but also allows you to accept cash payments.
ECRs automatically add up transactions, providing employees with quick numbers for change. In addition, they add tax automatically. This is the most basic type of cash register available for merchants, and in order to operate successfully, you would need at least an electronic cash register.
However, an ECR is lacking in a lot of modern features that can help you run your business more effectively. ECRs do not accommodate business software that you may need or want to streamline other business tasks, such as inventory tracking, sales tracking, employee tracking, or customer profiles. If you want these types of features, consider a point-of-sale product.
Point-of-Sale System
Many modern retailers are turning to point-of-sale systems to meet their retail needs. A POS system provides you with both hardware and software that can help to process payments and other services.
POS systems can either be stationary or mobile. Stationary POS systems are connected in the physical location of your store and are used for daily transactions. A mobile POS system allows you check out your customers from different locations. This is great for mobile businesses.
In addition to taking payments, a POS cash register also allows you the benefits of inventory tracking and more.
A POS system or POS cash register offers you a wide range of retail benefits that can help you run your business more smoothly and see greater success in the long run. Contact us today to learn more!