If you are reading this, chances are you are taking the next big leap from being an old-economy set up with book-keeping to a new economy operation that relies on good software to service customers better. Great stories always precede great software and every business has a story to tell of how it was struggling to stop leakages before a new software saved them. Put yourself in the shoes of a small business owner and think what he or she expects a good-point of sale software to do.
- First of all, it wants superior barcode scanning and reading capabilities so that the business can complete the sales and billing aspects at an equal or even faster rate than before. Else the net result will be high footfalls and long queues at the payment counter leading to frustration being expressed on social media.
- Time and customers wait for no one and therefore the code that powers the software should be fast, optimized and flawless. Bugs, if any, should be removed at the testing stage itself before the product is released in the market.
- The next most important thing that users desire is near ERP Level functionalities and the ability to customize the software as per their unique business requirements. By releasing the developer API to end users, software companies can delight their users. Application protocol interfaces help two applications talk to each other seamlessly and fetch data as desired by the query typed by the customer.
Turn a leaf out of history…see how the first movers rose up to the challenge
Almost everyone in the technology industry would recollect a software named FIDELIO that captivated the imagination of hotel owners and operators across the globe. It had near 100% marketshare and enjoyed monopoly for close to two decades before internet and mobile apps took over with instant credit card bookings. It worked on the DOS platform with DOS commands to make bookings and worked over local area networks. All the transactions being made by a guest were billed to the name and room number and the receipts were sent to accounts that worked in conjunction with front desk to aid in faster checkouts. Even the stewards got trained in using this software and this proved to be a major hindrance for new players as hotels were reluctant to adopt any new software given the enormous training costs as almost every big hotel employed staff in four figures that worked in all three shifts. Things changed a bit with windows and internet coming on the scene but even ten years after windows was released, hotels kept the point and click software’s for backend and Fidelio for the front end.
Witness the spiralling success of travel industry with business software
Global distribution systems like Amadeus, Galileo, help travel agents take instant bookings for direct/connecting flights, holiday packages on the phone and even accept credit card payments telephonically. Fares can be locked-in by customers by paying half price and the rest ten days before departure. Every booking made through these software is a revenue source for these GDS companies that strive harder to improve their technology with each passing day.
Keep your nose on the ground…experiment with unique business models
Rent free retail through POS is being experimented in food courts across the world. Users are asked to buy pre-paid cash cards in various denominations and pre-load them based on their estimated expenses on food and beverage in the food court. Instant top-ups and refunds are offered to delight customers. Both the real-estate developer, franchisor get SMS thrice a day about the sales generated. Another popular way used by giants like McDonald’s is to use POS software to calculate rent at 10.2% of the balance sheet generated by the software and duly audited by chartered accountants to ensure transparency, compliance in regulatory reporting and build trust in the system.
Manage duty free shops and their enormous footfall better with POS
Duty free shops at airports see enormous footfalls as they offer an insight into the culture of the country. And any point of sale software that is being deployed here must offer support for English and the local language, multiple currency support, payments made via credit cards in US dollars and in local currency.
Working as Digital Marketing Manager at HDPOS, Mehul Shah loves to share his knowledge about Point of Sale Software. Mehul has reviewed software in categories including Small business, Startups and Enterprises. Connect with HDPOS on: Facebook, Twitter and Linkedin.