Way, way back in time, the only point of sale option available to people was the cash register, and we’re not talking about the modern, electric-powered cash register. We mean the old, mechanical cash register that was invented in 1879. Back then, they weren’t even considered a point of sale system in the Philippines or anywhere in the world because they really weren’t, well, systematic. They were mere adding machines and treasure boxes for money and nothing more; they weren’t even able to produce receipts for customers.
Of course, as time passed, more and more technology was discovered and advancements to the simple, cash register were made. They became electronic and capable of printing receipts and reading credit cards. Computer-based cash register POS systems also entered the market shortly before the creation of the first desktop computer – around 1970s. Two decades later, in 1992 and a year after the conception of the world wide web, the first POS software was created and the industry of point of sale system in the Philippines and other parts of the world took off.
From then on, point of sale systems continued to evolve drastically. A system that was once only capable of adding numbers and storing money became one that had options for online ordering, loyalty programs, gift cards, sales transaction management, and receipt printing. Developers didn’t stop there, though, and moved on to create cloud-based POS systems and added more technologies like the EMV chip card technology.
Now, POS systems are standard in any establishment that is involved with sales like supermarkets and retail store. If mechanical cash registers where the only choice before, these days, there are more than a handful of options available for everyone to use, which can make the act of choosing one very difficult. Worry not, though, because we have written every piece of information that you need to know in order to choose the best one, so read more to find out!
Understanding the Point of Sale System
We’ve already laid out the history of the point of sale system in the Philippines, but we haven’t really told you what it actually is yet, so we’ll start off with that.
Put simply, a point of sale system is a combination of any hardware and software that is used primarily to centralize business operations. At its very core, it manages any and all transactions made for your business most especially those you have with your customers and involves the trade of goods and/or services for money.
This is a step-by-step process that starts with recording and calculating the amount owed by the customer. It then displays the said amount and makes customers choose between different types of payment. After the exchange of goods or service and money is made, it then prints or sends out a receipt for the customer to record.
In some cases, you may hear people refer to the point of sale system in the Philippines as the point of service system because it can be considered a point of return or customer order. Moreover, it has additional features such as inventory management, CRM, warehousing, and more, which we’ll discuss later. Simply put, it does more than just keep track of sales – a definition that was mostly true for older models of the system.
Purpose of a Point of Sale System
A point of sale system in the Philippines has many purposes with the main one being the automation of businesses’ financial processes. It also allows for the quick and timely acquisition of accurate data which offers great benefits. Accurate data is an invaluable resource for any business because those are used to make crucial business decisions that can either make the boat sink or keep it afloat.
Additionally, the automation of these processes frees up employee time and allows them to focus on revenue generating tasks such as tending to customer needs, essentially driving customer satisfaction and loyalty levels through the roof. This shift in priorities is also sure to drive sales upwards while pulling the cost of running the business downwards. Mostly because you wouldn’t need extra manpower to manage inventory and other administrative tasks.
There’s much more than the simple automation of the financial process and administrative tasks but these are the two that you can always find in an effective POS system. Anything else is merely a bonus or additional feature that was introduced through the rise of technology, and that’s what we’ll discuss next.
5 Features to Look for in a Point of Sale System
As mentioned previously, a point of sale system in the Philippines may come with several other features. The very basic ones are as credit card reading, receipt printing, and sales recording and these three would suffice if you were operating back in the day. However, these won’t be enough in recent times and you need to make sure that your choice of POS system has the following functions or features:
Traditionally, businesses have to do the books at the end of every working day. They have to manually check accounting records to make sure that nothing is amiss and everything is accounted for. Not only is this a very tedious and time-consuming task, it also allows for a couple mistakes and more.
For this reason, it is important that your POS system can automate and help make accounting and record keeping simpler and easier. At the end of the day, you should be able to get all the data that you need from your POS system. Tasks such as clearing credit cards, recording transactions, collecting taxes, and managing sales should be done using a single system
Sales Reporting and Analytics
A good POS system should be able to provide you with accurate and useful information regarding your business through capturing and analyzing every piece of data that is put into it and this should be done in real time.
You should be able to access information such as trending and hot items, poorly-selling items, individual product revenue, and total sales and profit anytime you want. These figures are sure to help you make well-informed business decisions and whip up strategic marketing and sales programs to further boost revenue. Once you’ve got all that automated, you can stop doing manual calculations and redirect all that time and energy into something that will improve your business.
Stop assigning your human employees to track inventory and hand that task over to a reliable POS system. Doing this is sure to save you time and even allow you to get the most accurate data since machines are less likely to make errors. Moreover, and as said earlier, keeping your employees from this time-consuming activity is guaranteed to increase productivity and work quality.
If you’re going for the bare minimum, you should at least get a POS system that can provide data regarding your entire catalog – what’s on display, in-stock, and in storage. This alone should be able to eliminate inefficiencies like over- and under-stocking. If you want something more advanced, there are POS systems that can alert you whenever an item needs to be re-ordered or produced, which should help you with resupplying your store or business.
Although a POS system doesn’t necessarily need to be able to perform employee management duties, it’s a good feature to have, especially if you want to get the best out of the system.
There are POS systems that can streamline time clocks or record the hours logged in by your employees, which you can view to check conduct and when evaluations are right around the corner. Knowing which employee is in-charge and assigned to every POS system can also deter theft and mishandling practices. It could also allow you to know who among your employees are performing best and worst, which is sure to be useful when promotions are being considered.
The most ideal POS system is one that is accessible from multiple locations using whatever device and operating system available all the while keeping the optimum functionality. This is an important feature especially for those who are looking to expand soon and want to be able to watch over all the branches of their business using a single platform.
That said, however, the POS system must still be secure and not at all hackable. Data leaks are harmful to businesses and may drive you to the ground, so you must make sure that your POS system is well protected by complicated and impenetrable defenses.
6-Step Process to Follow When Choosing a POS System
Choosing the right point of sale system in the Philippines is a process that we have outlined below:
- Define Your Business
The first thing you have to do before you choose a point of sale system is to study and understand your own business. This may seem obvious to some but many have made the mistake of purchasing a POS system that doesn’t fit well with their business goals and objectives, so don’t make the same mistake.
One of the most important things to do is to determine what channels you want to use to reach your audience, market your brand, and sell your products. You can use every channel available but that may make your search for a POS system harder since there aren’t that many that will allow you to seamlessly transfer data and information to a single device.
We’re not asking you to settle for less here and are merely warning you of the possible situations you may find yourself in when looking for a POS system.
- Establish a Budget
Aside from finding it hard to find a POS system that allows you to integrate data from all available channels, it may also cost you a ton of money that you may not have or can possibly cause your business to go bankrupt.
Like it or not, a single POS system can cost a lot, so it’s important to establish a budget before actually canvassing and looking for possible suppliers. Take into consideration the number of POS systems that you need for your entire business as well as the cost of installation. If your employees need to be trained before they can use the system, you must include that in your overall budget.
Once you have set a budget, make sure to stick to it lest you want to drive your business to the ground.
- Validate the Supplier’s Expertise
Next on the list is possibly the most underrated step that many prefer to skip. When you’re on the search for a point of sale system in the Philippines, it is crucial that you guarantee the reliability of your system’s supplier.
You must do your research on the actual company just as much as you do on their product. Look at their financial stability and the level of technology that they have access to. It also pays to check how advanced they are compared to other suppliers and whether or not they offer any exclusive features.
One of the best ways to do this is to reach out to other businesses that have used their system and ask for feedback. Make sure, though, that their business model corresponds with yours so that you can accurately gauge the compatibility of the POS system.
- Add and/or Eliminate Features
We’ve listed down the important features that your POS system must have but we aren’t forcing you to look for one that has all of them. If you think that one of the additional features that we mentioned doesn’t fit with your business, then feel free to purchase one that doesn’t have it. You may replace it with other useful functions that can benefit your business or leave it out completely – the choice is completely yours.
Whenever you’re adding or removing features, always ask yourself this: “Will doing this benefit my customers, employees, and, essentially, my business?”
- Consider Usability and Integration
A great POS system that is capable of multiple functions is useless if people can’t actually use it. What we mean by this is a POS system must be easy to understand and use, allowing for quick integration. It shouldn’t take months for your employees to get the hang of using it. If that’s the case, then it’s safe to assume that you went for the wrong one and that you may have just wasted your money.
This may lead you to believe that a POS system mustn’t be packed with useful features for it to be usable, but that isn’t the case. A POS system can still function in many ways without having to be too complicated for use. You have no control over the usability of the system, though, since all of that is up to the supplier or developer.
All you can do is gauge the capabilities of your employees and compare that to the complexity of the POS system that you want to purchase.
- Test Out the System
Most, if not all, system suppliers offer test and trial-runs that you need to use. If not, don’t be afraid to ask them if they would be open to the thought one. You’re more likely to receive a positive response and they’d be more than happy to let you see the many features and functions of their POS system before you make a final purchase decision.
Don’t immediately assume that the most advanced and expensive POS system available is the best one in the market because that is rarely the case. Instead, follow this 6-step process to make sure that you choose the best one for you!
StoRemote: The Best Point of Sale System in the Philippines!
Choosing the best point of sale system in the Philippines certainly isn’t as easy as it looks. There are a lot of things to consider and steps to follow before you can arrive at the best one for your company. If you don’t want to bother with those things, but want an exceptional POS system for your business then look no further and use StoRemote!
StoRemote was made to streamline operations using a single platform. Some of its features include real-time management of sales records and data – the core of the POS system – inventory management, HR management, and audio and video management. It also allows you to create and customize your very own application that you can share with your customers. They can then use that very app to avail of your products and services, see what’s new with your business, and even make purchases.
The best part is that all these features and applications are brought right at the tip of your fingertips. StoRemote can be accessed through any and all devices regardless of the operating system – immediately ticking off the box for an omni-channel experience.
This app provides many outstanding advantages for business in the Philippines. Whether its business innovation platforms or inventory management here in the Philippines, there’s more to StoRemote, and you can know everything there is about us by clicking here!
Trust and believe that when it comes to the best point of sale system in the Philippines, nothing is above StoRemote!