Is My POS Outdated? 6 Signs you need a POS Upgrade

January 26th, 2021 by Loyalty Sense Inc.

Over the last few years, POS technology has evolved greatly. POS technology changes every 4-7 years, so if you have anything older than this range, chances are, your technology is outdated and is incompatible with many of the current features.

As a POS is a primary tool used for sales and other operational factors. Although it may seem like a hassle to upgrade your POS, the benefits of upgrading your POS outweigh the cons. Upgrading your POS could mean less headache, as the simplification provided by new technology reduces the need for time-consuming tasks, resulting in a more productive team.

Here are 6 signs that you need a new POS Upgrade

1 Majority of software is no longer compatible with your hardware

The average Hardware Setup lasts from 4 to 7 years, and after this time span hardware isn’t compatible with the new systems, and you’ll require a POS Upgrade

2 Checkout process is slower than you need it to

Have you ever waited for a checkout line for a long time? It can annoy, can’t it? Having an outdated Point of Sale system can lead to a long checkout process. Besides old hardware (e.g. receipt printer) taking longer to process things, older POS setups tend to require manual work, which is time-consuming, and therefore leaving your customers unhappy and frustrated with long checkout times.

3 Your POS Setup is used just to ring in items

POS Technology has developed so much over the last few years. They are now capable of doing so much more than just ringing in items for customers to checkout. Nowadays, businesses tend to use their POS for employee management features, real-time reporting, email marketing campaigns, and so much more! To read more about what POS systems are capable of click here!

4 Inventory Management takes forever

As mentioned in Point #3, Point of Sale systems is now capable of so much more than just ringing in items. One feature widely used by businesses is inventory management. When ringing in items, the POS System would automatically adjust the amount of stock you would have in your inventory instead of manually inputting numbers. This process saves businesses hours upon hours of time, ensures that products are always stocked up when needed, and even shows you which products aren’t selling!

5 Reports are not easily accessible

Businesses face challenges almost every day. It is important that reports are easily accessible and attainable in order to solve any issues. If your POS system does not provide real-time results which track at a minimum these features:

- your best and worst selling items
- employee information:
- number of sales made
- sale times
- type of products sold
- Time clocked in/out
- Number of sales based on Payment Method (credit card, debit card, cash, etc.)
- Inventory management

….then it might be time for you to get a POS Upgrade.

6 You offer a limited variety of payment options for customers

We live in the 21st century, which means that the amount of technology readily available is endless. Just accepting cash as a form of payment no longer cuts it anymore. Ensuring your available payment methods are aligned with consumer demands, can increase your number of sales by 35%. Reports have shown that for the last few years, Credit Cards have been the dominant preferred method of consumers worldwide, with e-wallets (e.g. ApplePay, SamsungPay, PayPal, etc.) creeping up as a close second in many countries such as Canada, United States, Singapore, Australia, Japan, China, and many more. Click here to read more about credit card processing.

If any of these reasons apply to you, you may want to consider getting a POS Upgrade. This upgrade will be an easy way to ensure smooth operations for your business and take it to the next level!