Choosing the right POS system
2 Contents Benefits of a POS system 3 What s best for your business? 4 What are your needs? 5 Set a budget 6 Cloud-based POSitives 7 Get more out of your POS system 8 Compare POS systems 9 You ll love MYOB Kounta 10 Try MYOB Kounta for free 12 The information provided within this document is of a general nature and is intended to be a guide only, in accordance with our Legal Disclaimer. For specific advice regarding your particular circumstances, please consult your tax agent or the Australian Taxation Office as appropriate.
3 Benefits of a POS system A POS system lets you do more than just accept and process payments from customers. For starters, a POS system enables you to easily manage your sales and inventory across several stores and channels. You can track prices and stock levels, maximise profits by minimising wastage and human errors, and gain insightful customer data to build loyalty and provide a richer shopping experience. All of this from one convenient system. Use this guide to help you choose a POS system that will save you time, money and make your business life easier.
4 What s best for your business? Hospitality When choosing a POS system for your bar, restaurant, hotel or other hospitality business, you will probably want to look for the following features: + + Robust order management + + Table management + + Bill splitting + + Kitchen display screen + + Queue busting + + Shrinkage and wastage tracking + + Happy hour pricing + + Tab management + + Modifiers e.g. adding sugar to coffee. Retail Running a retail business? You ll benefit greatly from a POS system that offers the following features: + + Inventory and sales management + + On account and lay-by functionality + + Automatic staff commission calculation and reporting + + Item variants for combinations of size and colour + + Run promotions and track sales + + Stock taking + + Fast sales processing + + Integrated credit card processing + + Customers management and marketing + + Staff management.
5 What are your needs? POS systems can vary greatly from each other. To make the right choice, you must identify the needs of your business. Take a close look at the features, functions, processes and services you require to run everything efficiently. Create a list of your needs. And remember to include any special requirements you currently have or may need in the future. As well as the specific features required to run your type of business, you should consider the following: + + Number of registers + + Multiple locations + + Customer loyalty program + + E-commerce website + + Mobile + + CRM + + Marketing.
6 Set a budget Before you purchase a POS system, make sure you set a budget. Prices vary dramatically, so it s important to find a POS system that will meet your needs without breaking the bank. How much you spend will be determined by several factors. Software You ll either pay a one-time licensing fee, plus additional charges for support and future upgrades. Or an ongoing monthly subscription. Hardware Some POS software can run on mobile devices or traditional servers, while others require the purchase of new hardware. To run your business efficiently, you ll typically need some or all of the following: + + POS terminals + + Cash drawers + + Receipt printers (wireless) + + Barcode scanners + + Credit card/eftpos terminals + + Kitchen printers (wireless) + + Tablet stand. Payment processing You ll need to set up a merchant account and purchase or hire a card terminal to accept credit card/ EFTPOS payments. You ll also have to pay fees. The amount is based on the type of credit card used and the volume of transactions processed. Fees also vary from bank to bank.
7 Cloud-based POSitives Cloud-based POS systems are quickly becoming the go-to choice for easily managing and growing small to medium sized businesses. Benefits of cloud-based POS + + Regular updates provide you with the latest POS technology and features + + Business data can be securely accessed online anywhere and anytime + + Freedom to also work offline + + Tailor your POS system with add-on software solutions + + Pay a monthly subscription fee and avoid paying the large upfront fee associated with server based POS systems + + Use mobile devices like tablets they re cheaper than fixed POS terminals.
8 Get more out of your POS system A huge benefit of choosing a cloud-based POS system is the ability to access a variety of add-ons. You can customise and seamlessly integrate the add-ons to suit your specific business. Extending your POS system with these solutions will help you save time, grow profit and reduce costs. There are many types of add-ons available, such as: + + Accounting + + Payments + + CRM +Loyalty + +ecommerce + +Payroll + + + Marketing + + Mobile ordering + + Advanced stock control + + Time and attendance.
9 Compare POS systems Once you ve narrowed down your choices, you ve got to compare them. It s important to give each one a try. Most POS providers will be happy to offer you a free trial of their software. Testing the software will give you a good idea if it s right for your business. Take your time and make sure the software does everything you need before making a final decision. This is a must!
10 You ll love MYOB Kounta Whether you re a retail or hospitality business, you ll love MYOB Kounta. It s a flexible and scalable online POS system that integrates with your entire business. Simple to set up, MYOB Kounta is easy to use and has plenty of power to manage a busy business. Incredibly flexible MYOB Kounta can help you run a single store or an international franchise. A variety of add-ons let you build a system that s perfect for your business. Adaptable to your needs MYOB Kounta works on any internet-enabled device. You can add an unlimited number of products, customers and users. And you can add and manage multiple stores and registers. Deliver outstanding service Now you ll always have the answers to your customers questions. Find the info you need quickly including prices, discounts, a customer s sales history and stock levels all via the register. Reports at your fingertips Updated in real-time, you ll always have the very latest information via live data and reports delivered securely to any device. You can see your best performing hour, staff member, product and total takings.
11 Online and offline access Never worry if your internet connection drops out because MYOB Kounta lets you work online and offline. Easy to set up and go MYOB Kounta is easy to install and run so you can get started quickly. Take a range of payments Accept cash, credit card, cheques and mobile payments. With MYOB Kounta you can accept two or more payment types in a single transaction (e.g. cash and card), split bills and part payments. Integrates with MYOB accounting software If you use MYOB Essentials or AccountRight online, you ll enjoy seamless integration with MYOB Kounta. You can automatically sync your end of day journals, accounts receivable and purchase orders to your accounting system. Works on your hardware MYOB Kounta is compatible with industry standard point-of-sale hardware, including ipad, Android, Mac, PC and other existing equipment you might have like printers, cash drawers and barcode scanners.
12 Online pointof-sale that integrates with your business Take advantage of our free lite plan and try MYOB Kounta today. It includes all the features and addons with a maximum of 10 transactions a day on one register. No credit card is required and you can upgrade to a paid monthly subscription at any time. Our paid plans don t limit the amount of transactions or the number of products you sell, the people you have working in your business, the number of logins or the size of your business. Try for free
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