Retailers, like you, succeed for many reasons, including thoughtful product selection, outstanding service, effective marketing, appealing facilities, and engaging events. Increasingly, a robust technology infrastructure is becoming essential for successful store operations.
Over the past several years, many stores that traditionally relied on foot traffic and inventory turnover have transitioned into digital spaces, embracing online shopping, streamlined checkout processes, and services like BOPIS (buy online, pickup in store).
Stores that proactively adopted technology solutions have found themselves better equipped to adapt quickly and efficiently. Now, with retail environments stabilizing, it’s an excellent opportunity to assess whether your business could benefit from an updated or new POS system. This article aims to provide a structured approach for selecting a POS solution tailored to your store’s needs.
Full disclosure: I work for Rapid POS, and naturally, my experiences shape my perspective. However, the goal here is to offer unbiased advice on evaluating and choosing any POS system.
My recommended approach can be easily remembered with the mnemonic:
I REALLY DO CARE ABOUT SUCCESS!
Identify and Prioritize Your Needs/Goals
Research Available Solutions
Demo Solutions
Check References
Assess Costs and Return on Investment
Select and Implement Your Chosen System
I – Identify and Prioritize Your Needs/Goals
Every retailer has unique reasons for considering a new or updated POS system. Collaborate with your team to outline what you want your POS to achieve. Consider current pain points (like slow stock checks), customer engagement opportunities (personalized promotions), and strategic business improvements (better margin management). Focus first on your business needs rather than the technology itself.
Categorize and prioritize these needs clearly. Remember, this is your initial brainstorming phase—no idea is off-limits. You’ll refine and revisit this list continually throughout the selection process. Be open-minded: acknowledging what you don’t yet know is crucial to finding the best solutions.
R – Research Available Solutions
With a prioritized list of your needs, identify systems that can address them effectively. Remember, no two POS solutions are identical. Focus on three critical areas:
INVENTORY – TRANSACTIONS – CUSTOMERS
While solutions might claim similar capabilities, the difference is often in the details. Consider the unique aspects of your business—like perishable goods, bulk items sold in varying units, or special industry requirements. Ensure the systems you’re researching align with your specific operational realities.
D – Demo Solutions
Once you’ve narrowed down options, actively seek demos for each solution. Live demonstrations help you truly understand a system’s functionality and daily usability. During these demos:
- Insist on live, interactive demos rather than pre-recorded ones.
- Ask critical questions: What distinguishes your solution? What are its strengths and weaknesses? Why have previous customers switched away?
- Continually align new insights from demos back to your prioritized needs. Don’t hesitate to re-engage vendors as new questions or needs arise.
- Request recorded copies of demos to enhance accountability and support decision-making.
C – Check References
Often overlooked but essential: speak directly with current users of the systems you’re evaluating. Prepare questions that explore implementation, daily operations, training, reporting, and support experiences. Encourage honest feedback about strengths and shortcomings.
Focus on patterns in user feedback, particularly about customer support, reliability, and accuracy. Consistent concerns across multiple references should influence your final decision.
A – Assess Costs and Return on Investment
Evaluate both initial and ongoing costs, considering the total cost of ownership over a 5-7 year horizon. Prioritizing lower upfront costs may lead to higher long-term expenses if the system fails to meet evolving business requirements.
Software-as-a-service (SaaS) subscription models remain popular, offering predictable costs, while traditional upfront purchase models might have higher initial investments. Compare these pricing structures realistically against anticipated business growth and operational improvements.
Factor in expected return on investment—consider savings, increased sales, and operational efficiencies the system could deliver. Revisit your priorities again to confirm your chosen solution aligns closely with your defined objectives.
S – Select and Implement Your Chosen System
After making your selection, allocate ample resources and time to thoroughly implement and train your team on the new system. Implementation is an opportunity to streamline data, optimize processes, and refine daily operations.
Recognize that change can be challenging. Lean on your POS provider for guidance, but remain actively involved, challenging assumptions and encouraging collaborative problem-solving. The effort invested upfront in selecting and implementing the right technology solution positions your business for sustained success in the years ahead.
