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Selecting the Best POS Software Solution for Your Business

July 26th, 2018 Comments off

If you run a retail business, then you wouldn’t ever want to hire an employee that was incapable of doing their job. Well, the point of sale software that you choose for your business is essentially an extension of your employees. Thus, it’s important that your point of sale software performs up to your expectations. There are dozens and dozens of different POS software solutions on the market, and while they may not seem all that different at a glance, some are in fact better than others.

Before you set about deciding which point of sale software is going to be best for your business, it’s important to establish your expectations. You should write down a list of which factors are most important to you in your software. Consider if you have any products that require unique purchasing systems, or if your business offers some sort of membership program that can affect pricing or offer deals to customers. If you know the answers to these questions before hand, then youll have an easier time narrowing down your choice.

While the more unique elements of your business may demand specific point of sale solutions, the basic features of the software are also important to consider. Most POS software packages are able to accurately calculate and display prices of objects, discounts, and taxes, as well as systems for processing credit and debit cards and voiding transactions. If your business is a restaurant, you’ll want to be sure that your software can create checks for individual tables and handle special orders, as well as other restaurant-specific functions.

Another consideration to keep in mind when choosing your POS software is if you will have multiple points of sale in the store. It’s important that all of them are able to interface with each other in order to provide for accurate inventory, daily sales figures, and so on. Many POS software solutions provide a web-accessible record that allows a business owner to keep track of what’s going on in their business from anywhere in the world.

Similarly, for a business that operates across multiple locations, it’s important to have a system that can deal with that. You may want to share some settings across all your locations, while customizing others for individual locations. Make sure that the software you choose has this capability.

There are some other important factors that you should think about when choosing your point of sale software. For example, it’s a good idea to get POS software that can communicate with whatever accounting software your business operates with. The better the two programs can communicate with each other, the better. Its also important that modern businesses are adaptable ” your POS software should be quick and easy to make changes to.

There are literally hundreds of other minor characteristics that can make a POS software solution perfect for your business. Be sure to think about your priorities and write everything down so it’s easier to weigh the advantages and disadvantages of each solution.

Not only are POS systems allowing consumers to experience a better shopping experience, but some of the offered merchant services also allow businesses to better manage their information. As retailers accept credit card, hassle of using cash is eliminated.

Merchant Accounts Made Easy

April 17th, 2018 Comments off

Do you have a business that you would like to promote online? That is very much possible by having your own website. But if you are going to process a payment online, you will need to have a merchant account.

Having a merchant account for your website is very much advantageous as you will be able to get people from all over the world to buy from you. At the same time, there is a chance that you will get the sale right away as most of the buyers will not think twice especially if you have the product that they want.

But do you know that there are several types of this account? There is a merchant account that will match your current business. These are the types of accounts that will fit your business.

There are a number of businesses that use merchant account for internet. They are the ones who would use this account to be used in getting payments from their clients. They can get credit card payments and be able to verify them online. These accounts have a credit card billing verification system in order avoid fraud.

If you would see several websites that have a “Buy Me” tab, then that is an internet account. You can just click on that tab and you will be directed to the payment page and put in the information needed. This is one convenient way of shopping for people who does not want to go out of their homes.

The next accounts are the high risk ones. They are the ones that are said to be exposing the banks making the levels of security at high risk. Examples of these accounts are those being used in travel, adult sites and the likes. The reason why they are considered high risk is that they have increased instances of refunds because of products that did not meet the expectations of the buyers.

If you are also going to look for an account online, be sure to get the ones from popular payment sites. In this way, you will gain the trust of your clients to do business with you as they know that the chances of their money will not be lost through processing.

So if you want to start your online payment scheme, you can get a merchant account to be your assistant to your business. You can easily close the sales and easily process them online to bring in profit.

Christina Lambereau is a professional author who specializes in merchant accounts and credit card merchant accounts.

Choosing The Right Retail POS System For Your Business

November 4th, 2017 Comments off

When choosing the right retail point-of-sale system (POS) for your business, it is essential to understand what type of system will best meet your needs. The best POS system is one that can perform all of the functions required for your business.

A POS system can increase profits by providing a quick and reliable check-out process, maintain detailed sales and inventory reports, and provide integrated profit increasing programs such as loyalty programs, coupons, and special discount programs.

The following information outlines important features of POS systems to help you identify which one will be right for you:

Identify Your Business Needs: A POS system will increase business efficiency by eliminating needless work. It is important to choose a retail POS system that increases the speed of service. Some POS software is designed for large merchandise sales such as appliances, while other systems are designed for many products and thousands of transactions such as in department stores. Other considerations include: Will the credit/ debit card processing system and accounting software integrate with the businesses’ merchant account? Are reports in real-time? What reporting capabilities will you need? Will the POS provider train staff? Can you make changes to the system easily? Do you have operations spread over multiple locations? Will there be support if the POS system goes down?

Choose A Reputable Company: Research the POS provider. Look for well-established companies that are known to the business community as reliable and honest. The company should have references, provide after-hours technical support, provide warranty protection, assist with incorporating the system in the business, and are up-to-date on software and new features. Software, hardware, and services should be from one company. This avoids any future problems when trying to get glitches resolved. You may also be offered a deal.

Understand the Costs and Create a Budget: The prices of the various POS systems can vary. You should know how much you can spend before you start shopping for a POS system. You should consider such system requirements as software, point-of-sale terminals, peripheral devices, back-office servers, training, and Internet connection. Depending on the size of your business, the price of a POS system can range from a few thousand to ten thousand dollars or more.

Talk to Other Businesses: It can be helpful to talk to other businesses in your area to get their feedback about their own POS system. They can give you a candid assessment of their experiences with the system and offer helpful buying tips.

Acquire a Demo: Using a Demo will allow a business to get a feel for what the system will be like before making the purchase. Make sure it can adapt as the business grows.

The best POS system is one that will run your business the way that you want. It is important talk with a technology consultant before making a POS purchase. A consultant can help assess the pros and cons of a particular system. Because POS systems improve business efficiency, have greater flexibility and better reporting, the investment will pay for itself quite quickly.

POS Systems help customers at the point of sale, you can ring up sales, add discounts, perform returns, and process payments simple and quick. Retail software can eliminate time-consuming paper-based tracking, reduce errors and remind you to re- stock.

Increase Your Business Cash Flow With Merchant Accounts

October 31st, 2016 Comments off

Merchant accounts allow businesses to accept payment for goods or services via credit cards. They are contracts between an acquiring bank who extends a line of credit to the merchant.

You should know that customers are far more likely to buy from businesses that offer the option to pay with credit cards. Statistics prove that vendors using merchant accounts will see an immediate increase in the number of sales. While the average cash sale is around $9, the average credit card sale is closer to $40.

No matter what type of business you own, the availability of merchant accounts can help your cash flow in several ways. Here are some of the benefits for using merchant accounts:

– Having credit card facilities means customers can purchase right on the spot.

– Merchant account processing fees are frequently lower than check transaction fees.

– Debt collection problems becomes an issue for the bank, not you.

There are obvious and clear benefits to having merchant account facilities in your business. There are also drawbacks that should be examined as well.

– You will need to protect your business against instances of credit card fraud.

– You may need to examine and possibly revise your policies concerning charge-backs and refunds to minimize damages.

– If your business accepts credit cards on your website, be sure to use fraud protection measures to lower the risk of fraud, theft and scams.

Setting Up Merchant Accounts

Setting up a merchant account can be relatively simple. You will need to set up a bank account for your company for the proceeds of any credit card purchases to be credited to. You will also need to lease processing equipment and software that will facilitate transactions.

If you intend to process credit card payments online through your companys website, then youll need to take the extra step of registering with a payment gateway like VirtualNet or CyberCash. Always check that the merchant account software you have will be compatible with your online payment gateway.

Merchant Account Comparisons

Before calling your own bank to ask about merchant accounts, its a good idea to compare the offerings of several different banking institutions, as well as merchant account providers. Fees and charges can vary greatly, so its important to check what are the charges and fees likely per transaction.

An example of fees could include initial start -up costs, monthly equipment lease fees, transaction fees, processing fees and even sales volume costs. Ask your merchant account provider to supply you with a written list of all fees so you can compare with other lenders accurately.

Important Merchant Account Fees and Charges

Many providers will charge some kind of application fee. It can vary from $0, all the way to $100 or more, depending on the lender.

You may also need to purchase your software, which can range in cost around $100, or more. Once this software is installed, its possible you may have to pay a licensing lease on the software, which can range from $20-$50/month. Again, this depends on your lender or merchant account provider.

On top of these, you will incur transaction fees that range between $0.20-$0.50 per transaction. While these don’t sound high, if you process a lot of transactions they can really add up.

Other fees you want to make sure you ask any potential merchant account vendor include charge back fees, statement fees, minimum usage fees, annual fees, account keeping fees and close out fees.

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