As the central hub for your convenience store, a point of sale (POS) system is essential to running your business efficiently and profitably. From quick transactions with personalized customer service to simplified inventory management with easy to monitor costs and margins, a convenience store pos system needs to be reliable and ready to grow with your business. If it’s been a few years since you’ve invested in modern POS software and hardware, we’ve listed 4 telltale signs that it’s time to upgrade.
Outdated Pin Pads
If you’ve had the same payment terminal for years, it might be a guessing game on whether your pin pad will work when a customer wants to pay by tapping their card. Perhaps your system doesn’t accept tap at all, and you have resorted to a “No Tap” sticker on your pin pads to avoid the hassle when customers wave their card to no avail. Ultimately, an out-of-date payment terminal not only slows down transactions but it may also no longer meet payment processing security requirements – putting your business and your customers at risk. Inconvenient for customers, frustrating for staff, and susceptible to being compromised, outdated pin pads are sign that it’s time to upgrade your convenience store POS system.
Advancements in payment technology in recent years and the adoption of this technology by larger retail chains means customers expect to have a variety of options when paying by debit and credit, such as dip, chip & pin, and tap, and digital payments like Apple and Android Pay. To complement these payment methods, the importance of security to prevent fraud is critical. When you upgrade your payment terminal with faster and more convenient payment options, invest in a convenience store POS solution that is securely hosted with a PCD DSS Level 1 Service Provider – the top standard in the industry – to make sure you’re covered your bases now and in the future.
Slow System Speed
Another sign that it’s time to upgrade your convenience store POS system is the inevitable awkward pause during a transaction when your current outdated system needs to catch up. If you find yourself apologizing to customers because “the system is slow today” or are frustrated because an inventory order takes double the time as you wait to load up product and vendor information, it may be time to upgrade.
Convenience is at the heart of convenience stores. A slow, antiquated system results in dissatisfied customers who are wanting to get in and out of your store quickly and ineffective use of employee time. A system designed for convenience stores puts efficiency at the forefront and takes advantage of new technologies to run at optimal speed. For example, cloud-based software is less likely to be bogged down as it does not require the memory to store vast amounts of data locally, resulting in faster processing time.
Relying on Memory
A sure-tell sign that it’s time to upgrade your convenience store POS system is lacking a reliable and accurate system to reference sales and products from a previous timeframe. Relying on your memory, or the memory of a long-term employee, to recall product or promotion performance as you prepare for the future can be error-ridden. From knowledge of sales generated during last year’s community event or product discounts and demand for a seasonal product, accuracy is the key to maximizing profits.
A modern convenience store POS system tracks inventory as it is sold, ordered, and received. As products are purchased, the record of quantity on hand is automatically subtracted. Low stock alerts ensure you’re not caught off guard with insufficient stock and include product ordering options from one program. All-in-one POS software also includes a variety of sales and product reports, so you have all the details you need to make informed decisions on staffing and promotions while avoiding product shortages and overstock. With easy to access data from one program, you no longer must rely on intuition or memory for success.
Days-Long Training
POS hardware and software that is outdated requires a certain level of savvy to make work. You may have found workarounds and unique-to-your-store ways to get by with the system you have, but this is inefficient and makes training new hires cumbersome.
An up-to-date convenience store POS system helps get new employees up and running quickly with an efficient, intuitive system that uses a technology they are already familiar with, such as tablets and touch screens. In addition, innovative POS systems, such as ClearTEQ, are designed for ease of use and include till customization features so your most frequently purchased items are visible on the main screen. Not only does an upgraded POS system create better efficiencies and save time training, but it also gives customers greater confidence and satisfaction when making purchases.
Limited Features for Growth
As a forward-thinking business owner, planning for the sustainability and growth of your convenience store is vital. If your current convenience store POS system is holding you back from implementing new ideas to attract customers, it may be time to consider upgrading your system.
A modern convenience store POS system includes tools and features to take on new opportunities to grow your business. Flexible store promotions have endless options to creatively bring customers to your store but also increase the amount of each transaction. ClearTEQ’s advanced promo features, and sales can be easily customized to best suit your store, including Buy-One, Get-One events, and specific spending threshold promotions.
Are any of the signs relatable to your store? If so, it’s time to consider upgrading your convenience store POS system. Start by partnering with a POS company that will be there every step of the way to ensure your convenience store is running at optimal performance with minimal interruptions.
Get started today! Reach out to the team at ClearTEQ for more information.
