Retail has always been about delivering seamless experiences for customers. However, how that experience is delivered has changed drastically. Thus, small businesses and retailers must adapt to the rising new technologies. Currently, the traditional cash register has given way to the more advanced touch screen cash registers. These point-of-sale (POS) systems are more than a shiny upgrade. In fact, they’re a game changer for efficiency, accuracy, and customer satisfaction.
Our cutting-edge POS system at FLO Business Solutions offers many benefits. One of the biggest is it always is current with today’s technological demands. That means we have touch screen POS options! Ready to switch today to make your life easier and business run smoothly? Get a free demo today by calling us at 803-887-7356 or completing this form.
Adapting to advanced technology like touch screen cash registers is no longer optional. It’s a necessity to keep up with customer expectations and business operations. If you’re wondering whether it’s time to improve your POS system, this guide is for you.
Advantages of Touch Screen Cash Registers
Does upgrading to a touch screen cash register feel like a leap? Ultimately, the advantages make it a no-brainer for most businesses. Here’s how they help streamline your operations:
Enhanced Efficiency and Accuracy
Touch screen cash registers simplify the process of running sales transactions. End the frustration of dealing with clunky buttons or manual price entries. This POS terminal provides a sleek interface where actions are intuitive.
- Employees will complete transactions in seconds, thanks to easy tap-and-select functionality.
- Reduce errors with pre-set item options and prompts. This eliminates price-entry mistakes common in older cash register models.
Whether you’re handling card processing or cash payments, you’ll notice two major trends.
- Checkout lines move faster
- Improved employee productivity and customer experience
Streamlined Inventory Management and Reporting
Many touch screen cash registers double as powerful inventory management solutions. That is due to these POS systems tracking sales data in real time. In fact, most automatically update inventory counts as items are scanned or sold.
- Make smarter purchasing decisions with accurate stock-level insights.
- Generate detailed sales reports to identify high-selling and slower-moving products.
Data is accessed quickly with the click of a button. In contrast, this data would’ve taken hours to compile manually. Long gone are the days with spending a ton of money and time on inventory management.
Greater Customer Satisfaction Through Faster Service
Today’s customers crave convenience and speed. Long wait times or outdated systems typically lead to frustration and lost sales.
A touch screen cash register provides these benefits for customers.
- Enables faster checkouts
- Takes multiple payment options (including card processing and contactless payments)
- Provides seamless returns or exchanges
Happy customers are repeat customers. This simple upgrade will ensure a positive impression.
3 Key Features to Look for in a Touch Screen Cash Register
Not all touch screen cash registers are created equal. Below, check out the most important features to look for when choosing one for your business.
Customizable Interface for Specific Business Needs
Your business is unique. Therefore, your cash register should be too. Look for systems that offer customization options. Some custom choices include product categories, buttons, and layouts. Tailored interfaces make your staff’s workflow easier and your business’ operations smoother. This is true whether you run a boutique clothing store or a bakery.
Integration Capabilities with Other Business Software
Ensure your system integrates well with software solutions you already use. Consider software integrations for everything from accounting software to email marketing tools. Compatibility allows you to create a unified ecosystem for managing your entire business.
Security Features to Protect Business Data
Customer and business data security are always a top priority. Choose a POS system that offers secure cloud storage for records. Plus, you need a system that encrypts sensitive customer payment information to prevent data breaches. Features like user access controls only allow authorized personnel access to certain functions, minimizing internal risks.
Implementation and Training for Touch Screen Cash Registers
Switching to a new system often feels daunting. Therefore, we’ve put together these best practices to make the change. These will help for a seamless transition.
Best Practices for Introducing New Technology to Your Staff
- Begin with clear communication about why the change is happening. Be sure to share how it benefits employees.
- Invest in on-site or online training sessions for staff to familiarize themselves with the new POS system.
- Appoint a “tech champion” in your team who will troubleshoot issues as they arise.
3 Tips for a Seamless Transition
- Start with a pilot run. Test the system during slow business hours before fully implementing it.
- Transfer data in stages. Before switching entirely, migrate only a portion of your inventory to the new system to ensure accuracy.
- Leverage vendor support. Most providers offer tech support—make full use of this during the setup process.
Frequently Asked Questions on POS Technology
Do you still have questions on this cutting-edge POS technology? That’s okay! We put together this FAQ section for you. Feel free to also call us at 803-887-7356 to talk with our experienced team.
How Do Touch Screen Cash Registers Benefit Different Types of Retail Businesses?
No matter your niche, touch screen cash registers are transforming retail businesses. Here are some real-world examples of retailers where they’re making a difference.
- Small Cafés
- Boutique Stores
- Grocery Stores
From food trucks to furniture stores, the adaptability of touch screen systems is their superpower.
What is the Future of Retail Technology?
Touch screen cash registers are just the beginning of what’s possible for retail technology. Here are a few ideas on what the future holds for this industry.
- AI-Powered Inventory
- Advanced Mobile POS
- Voice Commands
Staying up to date with the latest technologies is crucial for retail businesses. This allows them to maintain a competitive edge.
Why Should I Choose FLO Business Solutions for My POS System?
We are an all-in-one solution for businesses. Whether you need payment processing or HR & payroll services, we are here to help! We even provide digital signage. Currently, we are offering a special deal on this service. Click here to learn more and save money!
Plus, our over 20 years of experience speaks for itself. We continually learn and pivot with a fast-paced industry and always provide the latest technology options.
Finally, you will work with real people who care about your business and its success. Our clients are never just a number to us. Our professional team is here to provide fast answers to questions and solutions to problems.
Upgrade Your POS Today to Ensure Future Success
Still using traditional cash registers? Now is the perfect time to consider upgrading to a touch screen cash register. From streamlining your operations to improving the customer experience, the benefits are undeniable.
Investing in modern POS systems isn’t just about keeping pace with competitors. No, it’s about positioning your business for long-term growth and efficiency in an ever-evolving retail landscape. The future of retail is tech driven. Is your business ready to meet it?
Get ready to use this technology in the present to set up your business for future success. Call FLO Business Solutions today at 803-887-7356 or complete this form for a free demo.
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Ready to up credit card processing within your business? Curious about the best POS system available? Uncertain about how to procure a custom POS system? Get the answers you need, all in one place, from FLO Business Solutions.
What Is a Custom POS System?
A custom POS system is exactly what it sounds like—a custom point of sale system. That’s the short answer, at least.
The longer one? While you’ll find several types of basic POS system frameworks on the market, you may need something tailored to your individual goals and requirements. That’s where a custom system comes in. With careful adjustments and alterations, you have a custom POS system designed to serve your business on a more specific level. It goes beyond the most straightforward POS system for retail, taking into account things like loyalty programs and inventory tracking.
Customized management systems allow you to better accommodate complicated pricing structures. You can also better incorporate this type of retail POS system into other processes. Think your CRM tools, for example. Rather than having to manage these functions separately, you can have them operate side by side. This cuts down on inefficiencies, sometimes enabling you to execute multiple tasks at once. You’re saving time, while at the same time creating a workflow that’s much more sustainable for the long term.
At the end of the day, incorporating a custom POS system into your business can be a great way of saving not only time, but money. It’s also often easier for your employees to handle. This type of system is meant to work for you, specifically—there’s less of a learning curve. Add trainability to the list of qualities you can appreciate about a customized system!
Can I Build a POS System?
Technically speaking, you could build your own custom POS system. Whether or not you want to do it is another question altogether. Every business owner must make their own decisions regarding a POS system. This includes the amount of time, effort, and resources you’re going to funnel into customizing a system without assistance.
Keep in mind that while building your own POS system allows you to customize it personally, that also opens you up to a host of mistakes. If you’re not an expert, you can’t expect yourself to know exactly what to do. You might spend money that isn’t necessary, make mistakes that cause more problems down the road, or run into similar issues. With that being said, it’s often more cost-effective—and time-efficient—to work with POS solutions experts who can help you create the perfect system.
How Much Does It Cost to Create Your Own POS System?
It’s difficult to say exactly how much it might cost to build your own custom POS system. A lot of the cost will depend on your specific needs, as well as the complexity of the project. Generally speaking, building out your own POS system can cost around $40,000 to $50,000. However, it’s not unusual for the price to climb up to $90,000. It can also be less.
However, you should keep in mind that you’re not only paying for the system itself, but for customizations and the price of labor (if you employ any individuals for assistance). If you only want to track sales without features like loyalty program and inventory management, it may cost less. But remember what we said earlier—a more customized system tends to integrate more easily with other processes. This means, in the long term, it may be cheaper to simply have a more customized system installed with the assistance of a company like FLO.
What Are the Three Types of POS?
There are three main types of “modern” POS systems. They include:
- Tablet-based. As the name suggests, this option allows you to conduct sales using a tablet, typically an iPad or an Android. The convenience here is that the tablet is relatively easy to use and portable. They’re particularly popular in specific settings like restaurants. A POS tablet system for restaurant environments allow the user to conduct business tableside. If you’d prefer it to be more stationary, a POS tablet system stand allows you to work without holding the tablet.
- Mobile POS. A mobile POS encompasses POS software you can operate with mobile devices—including smartphones. This means you can conduct business anywhere, with customizations as needed. The software may be similar to that which you might find on the app store, creating a user-friendly experience.
- Cloud-based. To put it simply, a cloud-based POS system is dependent on an internet connection. This means you can work through several types of devices—a major benefit for growing businesses.
POS FAQs
Still have some questions about a custom POS system? Luckily, we have more answers!
What are “Level 2” and “Level 3” payment processing methods?
Level 2 and Level 3 payment processing methods address business to business transactions with extra data in payment messages. Through this extra data, you’ll increase the payment’s security, as well as its general reliability.
What is the difference between Level 2 and Level 3 payment processing?
Level 3 processing requires all of the data needed for Level 1 and 2 payments, plus additional info regarding freight amount, commodity codes, and the product itself. Furthermore, it requires the most effort, as well as specialized software. However, this results in the lowest interchange rates of any level.
What are the benefits of Level 2 and Level 3 payment processing?
Both levels offer enhanced security, faster account settlements, fewer chargebacks, and lower processing costs.
Now that you know a bit more about POS systems—and your customization options—take the next step by asking the experts. Call FLO at 803-887-7356 or contact us here and get the advice you need.
Interested in B2B payment processing methods? FLO Business Solutions is here to cover your options. Learn the ropes below!
What is “B2B” compared to “B2C”?
If you’ve heard of B2B, you’ve probably come across B2C as well. The question is: What sets them apart?
Answer:
B2C: “B2C” refers to business to consumer. This is the type of business that sells directly to individual consumers. Think small businesses on Etsy, for example, or big businesses that sell large quantities of product to large quantities of customers. While each approach has its pros and cons, when it comes to payment processing, conventional wisdom is that B2C is easier than B2B. At least on the business’s end.
B2B: “B2B” refers to business to business. Rather than selling to individuals, you’re selling to your fellow businesses. Often, this means selling larger orders. While this can be high reward, it also adds a bit of complication on the payment processing end. When selling business to business, you’re often trying to maintain longer-term relationships. You want repeat orders, and a part of that involves ensuring that payments are processing accurately and on time. Trust is key. As such, it’s crucial that you master B2B payment solutions.
What makes B2B payments different from B2C payments?
A few factors set B2B payments apart from B2C payments. Much like B2B is fundamentally different from B2C on a broader level, B2B payment processing has different needs.
Keep in mind that B2B marketplace payments tend to require more time. The amount of money involved can be a lot higher than it is with regards to individual consumers. This means the approval and settlement of the payment can take longer—days or even weeks. In short, you’re generally going to require more complex payment software for B2B than you would for B2C.
What is the B2B payment processing method?
There isn’t one type of business to business payment method. Rather, the marketplace offers a few different options to business owners. In fact, some B2B sellers prefer to offer their clients multiple options. Not only does this expand your potential client base—it can also help ensure repeat business. Of course, this means you’ll want to work with a vendor that can match your needs as well.
Some of your B2B payment options include:
- Virtual business to business credit card processing
- ACH payment processing
- Digital wallets
- Electronic checks (eChecks)
- Wire transfers
- Commercial credit cards
- Paper checks
Needless to say, some of these options are more common than others. You don’t see quite as many B2B sellers accepting paper checks these days! But nonetheless, your operation is your operation, and it’s important to familiarize yourself with the pros and cons of multiple solutions.
How do B2B payment processing solutions work?
Commercial credit cards. One of the most popular B2B payment solutions, commercial credit cards, remain quite common. Although they come with processing fees, buyers fall back on them often, in part due to their familiarity and reliability. As a seller, however, you may run into a few drawbacks. Each credit card transaction costs the seller, which naturally adds up over time. Still, it’s difficult to decline credit card payments, simply because of their prevalence.
Want to accept business payments while cutting down on credit card fees? You have options. New technologies help reduce manual processes, creating a more automated system that increases cash flow. Rather than focusing on credit card payments, you and your team can focus on more high-level endeavors.
ACH (Automated Clearing House). Another common B2B payment processing method, ACH, allows you to process payments electronically. It’s quick, convenient, and affordable. Essentially, ACH connects businesses across the United States. It transfers funds from business to business, even when those businesses use different banks. It’s possible to utilize ACH transfers internationally, but intermediary verification can slow the process down.
Wire transfers. Although not as popular domestically, wire transfers do remain more common than ACH when it comes to international payments. We usually manage wire transfers through RTP, CHIPS, or Fedwire. The great thing about this method is that as soon as the money hits the target account, it’s available. However, its lack of security presents concerns for B2B sellers and buyers.
Frequently Asked Questions
Still have some questions about B2B payment processing? Luckily, we have some more answers!
How do virtual credit cards differ from commercial credit cards?
Functionally speaking, virtual credit cards don’t differ too much from their physical counterparts. You can place limits on how often they’re used and by who, and they tend to be very secure. They may come with similar expenses associated with physical B2B card processing. But similarly to physical cards, we can potentially cut these expenses with more recent technology.
What’s the difference between eChecks and paper checks?
Aside from the obvious differences—one is electronic, while the other is paper—eChecks tend to be faster. Plus, they’re less expensive to manage than paper checks. They offer all the conveniences of any digital payment methods, with fewer drawbacks than paper checks.
All that being said—B2B sellers use paper checks surprisingly often, more so than the average individual consumer. Why? We’re not quite sure. It could be simple habit, or a sense of comfort that comes with a physical payment. However, digital methods are easier, often less expensive, and generally more secure. As you process large payments and scale up your ecommerce business—while working with clients who may not be physically close to—you’ll have more options with digital methods.
What are the benefits of Level 2 and Level 3 processing?
Since there is more information about a transaction and thus additional transparency and security, Level 2 and Level 3 processing have a few additional benefits. These include:
- Lower interchange fees
- Easier tracking and verification
- More data collection points
- Better compliance
Which method is right for me?
That depends greatly on your business and your goals! Fortunately, FLO Business Solutions is here to help you find the perfect solution. Get in touch with us here or call (803)-887-7356. Let’s find the perfect B2B payment platform for you.
Are you considering investing in a credit card terminal? If this is your first physical payment processor, it’s a big deal! For many small business owners, buying or upgrading a credit card terminal coincides with growing your business. Often, business owners move from selling purely online to in-person, physical sales. Otherwise, you may be shifting from a more informal format to something that serves you beyond simply processing payments.
Whether you’re buying your first machine or moving on to something more advanced, there’s a lot to choose from. No worries—we have you covered. Let’s dive into the world of credit card readers. Consider this your primer from FLO Business Solutions!
What is another name for a credit card terminal?
When you first begin researching your payment processing options, it’s easy to experience confusion over the terminology. It’s actually a lot less complicated than it may seem, however. There are actually several different terms you can use instead of credit card terminal. They include:
- Card reader. This is a little less formal, and may be more familiar to casual customers.
- Credit card machine. Goes without saying, right?
- Point-of-sale (POS) system. One of the most widely-used terms, we often use this to refer to credit card terminals on a more formal level. Plus, a POS system is a system—it includes the physical terminal, but can go beyond it.
No matter what you call your system, it’s important that you know its capabilities and limitations. It’s a good idea to write down everything you need from a payment processor before beginning your search. Generally speaking, you’ll want as much freedom as possible when using your credit card reader. Don’t settle for a system that does the bare minimum. Make sure you’re using a system that’s up to date, with a support system you can trust. That means talking to real people when you have questions.
What is a smart card terminal?
Here’s the thing: there’s a traditional card reader, and there’s a smart card terminal. You most likely have a “smart” card right now—it’s the card that uses a chip. A smart card terminal can read that chip quickly and reliably. There are two main types of smart card readers.
- The contact model. This model requires customers to insert their cards into the device.
- The contactless model. In this case, the reader relies on radio frequency. All the customer has to do is tap or hover their cards over the readers, and they’ll be good to go.
You can also procure a terminal that combines the contactless and contact models. When you offer both options, you’re essentially insuring your sale. If, for whatever reason, one method proves tricky for the customer, you have a backup.
Keep in mind that the contactless model is the most advanced at this time, and can be more convenient for customers in a hurry.
How do I get a credit card terminal for my business?
Typically, you’ll procure a credit card terminal from a retailer like FLO Business Solutions. Keep in mind, however, that you don’t want to work with a faceless company. Even the simplest of payment solutions come with learning curves, and you’ll want to make sure you can reach out to real people if you have questions (what is Clover, anyway?). At FLO Business Solutions, we ensure that you’ll always have someone ready to help—no matter what.
Additionally, you want to make sure that the company you work with can help you scale up as
needed. The more your business grows, the more you’ll rely on not only your payment methods but the company supporting them. If you can get everything you need—from machines to support—in one place, you’ll be off to a a great start.
Frequently Asked Questions
Do you still have some questions about finding the best credit card terminal for your business? Below, we’ve listed some things our customers frequently ask.
What are virtual terminal card processing systems?
A virtual terminal card process system is one option available to small business owners. Rather than working with a physical card reader, a virtual reader allows you to work off (basically) any device. This increases your flexibility, and can be easier for some businesses as they grow. Often, you can acquire a virtual POS system from the same company that handles your physical machines (if you choose to have both).
What is a mobile credit card machine?
People carry their credit cards everywhere in this day and age. That means you need to be able to meet them anywhere, right? A mobile credit card machine allows you to set up shop at trade shows, pop-up markets, and more. You’re not stuck in one place, and can sell your services or products wherever you wish. Plus, they’re lightweight and simple to use.
Can I use mobile credit card readers with my phone?
The short answer: Yes.
The longer answer: In some cases, you may integrate mobile credit card capabilities with your personal devices. This is where a credit card machine for phone comes in. Rather than working with a bulky machine, all you have to do is handle a small device. It’s easily attached to and from your phone, and empowers you to run your business wherever you need.
Contact FLO Business Solutions Today!
We know moving on to a new payment processing system can seem like a lot of work. But if you collaborate with the right company, you’ll get the guidance you need. At FLO Business Solutions, we’re here to assist. Call us at 803-887-7356 or connect with us here. Start upgrading your business today!