Purchasing a point-of-sale system is one of the most important equipment investments a company can make. For fast-paced industries especially, like retail and hospitality, the point of sale equipment directly affects the customer experience. System downtime can lead to an immediate disruption in service delivery and negatively impact sales and revenue. When downtime happens, within a matter of minutes, you've got clients online complaining about your business. No business has time for that.
There are important considerations when selecting point-of-sale equipment, whether for a new business or a system refresh for an existing business. Below, we cover the ways companies can virtually eliminate downtime and save money.
Partner with a Vendor to Purchase Point-of-Sale Equipment
Vendors that specialize in point-of-sale equipment have a clear understanding of the many brands and manufacturers. They know the features offered with various brands. They also understand each system's limitations for variables such as volume, industry, and functionality. Vendors also have established relationships with leading manufacturers and can often find equipment at a lower cost because of those relationships and the volume they purchase each year.
Expand Services with your Point-of-Sale Vendor
After purchasing a point-of-sale system, the next step is to plan a regular maintenance program to ensure the system lasts as long as possible and is properly maintained. The hardware purchase is the largest initial expense but there are also expenses related to regular maintenance and repairs.
To save on long-term expenses, ask your vendor about their maintenance programs, so that you keep the equipment well-maintained and running smoothly. Regular maintenance will reduce downtime and the costs related to downtime. Seek a vendor with extensive experience procuring and repairing the point-of-sale system you will use.
An experienced vendor will know the equipment well and will know when the equipment typically needs maintenance and when it is nearing the end of its life. Vendors with experienced technicians can often extend the life of equipment through regular maintenance and equipment hardware upgrades. This could lead to significant savings in the long term.
Lower Costs with High Volume Purchases
Businesses with multiple locations, typically 50 or more locations, can save on point-of-sale purchases because of volume. There is even more opportunity for saving when adding other services like maintenance. If all of the locations aren’t ready to make a system upgrade, there is still an opportunity to reduce costs by using the same vendor for maintaining the existing equipment until such time replacement is needed. If your business does not have multiple locations but belongs to an industry trade association, there may be opportunities to partner with other association members and pursue a volume discount. That is if everyone is willing to use the same vendor.
Refurbish and Recycle old Point-of-Sale Equipment
If you have existing equipment in place and are seeking to replace it because it’s no longer compatible with the software or it has been breaking down more frequently, you might not need to replace it. When you work with a point-of-sale vendor that also specializes in repair of the equipment, their technicians may be able to extend the life of your equipment. They may be able to refurbish-the-point of sale equipment to get it to new like status and they may be able to use a process called reverse engineering to get the equipment working with the software. In addition, even damaged Point-of-sale equipment has value. Ask your vendor about their recycling program and if there is an opportunity to sell your old equipment for parts. Or depending upon what the damage is, it could be sold for refurbishing.
It’s a lot to process, and if you have questions, Key Services can help. Contact us today for details about point-of-sale equipment purchase and repair, and how technology life cycle management can save you money on your existing equipment.
Talk to a Point-of-Sale System Specialist