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Five Tips for Saving Money When Buying Point-of-Sale Software

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Point of sale software is essential in any small business where you're selling a significant amount of inventory. It helps your sales staff ring up sales easily without errors, and it calculates goods and services tax as well as any local sales tax as needed. If you want to save money on point of sale software, there are several ideas you may want to consider.

1. Opt for Software With Minimal Hardware Requirements

Some point of sale software requires large personal computers to run. The software often takes up all of the memory on the computer so you can't install operating software such as Windows. That can get expensive. If you want something cheaper, look into POS software with minimum hardware requirements. Many cloud-based POS apps, for example, can be run on tablets, and the tablets can often still run other applications. That can be ideal if you want to use your hardware for multiple purposes and not have it exclusively devoted to sales.

2. Look for POS Software That Syncs to Other Software

You may also want to look for POS software that syncs with your accounting and inventory software. Many commercial software options sync together, and if you have a developer creating your POS software for you, you can request that they make it compatible with your other software. This tip won't save you money upfront, but it can help you save money whilst you use your POS software. In particular, it saves you time and money associated with manually entering information from your sales software into your accounting program, and it also eliminates time wasted updating inventory software.

3. Consider Subscription-Based Software With Service Included

In many cases, you can still buy a POS software package, but many companies are shifting to a subscription-based model of software. With this model, you pay a monthly cost for the POS software, but it gets updated on a regular basis. If you decide to take this route, look for a subscription that includes customer service and support. That can help you avoid errors, downtime, and programming issues — that saves time and money on repair costs.

4. Look for Additional Services

To optimise your savings, you may want to look for POS software that comes with additional services. For instance, some POS providers also do payment processing. When you get several services from the same company, you often get a discount.

5. Remember to Comparison Shop

Finally, before jumping in, remember to do some comparison shopping. There are a lot of companies that sell POS software, and they all offer different things from out-of-the-box solutions to custom software. You may want to look at several packages and get several quotes before making a final decision.