We use cookies to make your experience better.
To comply with the new e-Privacy directive, you agree to the privacy policy and our use of cookies
Your New POS System Doesn’t Have to Be So Expensive

Many business owners consider POS system as an expensive affair and end up delaying the transition to upgrade to a POS. The fact is, this upgrade doesn’t have to disrupt your budget provided you are aware of your needs.
Hello everyone, welcome back to EPOS Direct, your leading POS provider. Today, in this article, we will help you explore your business needs and plan a low budget tailored POS system that boosts your business while being ultra-light on the pocket.
Let’s begin!
1. Determine the Essential Business Needs
A rookie mistake is to pick a POS with too many features, sure it looks cool but – do you really need it?
Or are you simply molesting your pocket? To prevent this, begin by assessing the essential features your company requires from a point-of-sale system:
Assessing your primary operational requirements is crucial when choosing a new point-of-sale system in order to prevent splurging on extraneous features.
• If your business strategy heavily relies on data-driven decision-making, thorough sales reporting is essential. Low-stock warnings and real-time inventory management can support the maintenance of ideal stock levels.
• Digital wallets and contactless payments are examples of integrated payment processing solutions that can improve consumer satisfaction and expedite transactions.
• Personalised marketing and loyalty programs can be supported by features that track customer data and purchase history, if customer relationship management (CRM) is significant.
You can concentrate on solutions that provide these characteristics without having to pay for needless extras by reducing your list of important features.
2. Examine POS Systems Based on the Cloud
Conventional POS frequently need costly hardware and specialised servers, which raises the ongoing expenses. While utilising internet-based infrastructure, cloud-based point-of-sale (POS) systems provide a more economical option.
Cloud Based POS systems provide features that save money & boost sales efficiently
• They are a popular option because to their lower upfront expenses and lack of difficult setups or on-site servers.
• Because the service provider manages backups and upgrades automatically, there is also the benefit of reduced maintenance.
• Scalability, can be sped up as this allows you to manage users, products & devices swiftly.
• The ease of managing your company remotely from any location with an internet connection.
Cloud-based POS usually operate on a subscription basis, which allows you to spread out costs over time rather than needing a large upfront investment.
3. Look into your lease and financing possibilities.
Companies that are just starting out or small & medium sized companies may find it heavy on their pocket to afford a Complete POS system.
This is where the option to rent & lease a POS system comes handy.
Because of the many benefits that a POS system offers, businesses with limited resources may find that leasing or financing one is a good option.
• Because you will have fixed payments rather than unplanned charges, predictable monthly costs also make budgeting easier.
• It helps preserve cash flow, allowing you to allocate funds to other crucial business operations.
• By spreading the cost over time, you can access advanced technology and invest in a higher-quality system without the upfront financial burden.
In order to minimise unforeseen costs, leasing may also provide extra perks like software updates, maintenance, and technical support.
4. Make Use of Freemium and Open-Source Software
Freemium models or open-source point-of-sale software may be a good option for companies with limited funds.
With optional premium features available for more complex requirements, these systems frequently offer basic point-of-sale (POS) functions for free or at a drastically discounted cost.
There are a few important considerations when thinking about an open-source point-of-sale system.
• One significant benefit is customisation, as these solutions provide you the freedom to modify the system to fit your particular business needs.
• On the other hand, technical know-how might be required because open-source systems frequently call for some degree of technical proficiency for setup and continuing upkeep.
• On the plus side, a lot of open-source platforms have vibrant user communities that offer assistance, exchange best practices, and resolve shared problems.
Open-source solutions can save a significant amount of money over time, even if they could demand a larger initial time commitment.
5. Make Use of Scalable Solutions
When selecting a point-of-sale system, it's usual to overlook future development. You may avoid costly future updates or replacements by investing in a system that expands with your business.
Features offered by a scalable point-of-sale system can adapt to your company's expanding needs.
• With multi-location capability, you may grow your business to additional areas without having to replace your current point-of-sale system.
• Adaptable integrations guarantee that the system can easily interface with other software applications, including consumer loyalty programs, eCommerce, and accountancy, improving overall effectiveness.
• Furthermore, a modular design guarantees that the system will continue to be flexible and affordable over time by enabling you to add new hardware or features as your company expands.
By considering scalability early on, you can lower long-term expenses and help your company grow.
6. Assess the Total Cost of Ownership.
TCO should be taken into account when comparing various POS systems, in addition to the original cost. This covers all expense related to the system during its lifespan.
A POS system's TCO consists of a number of elements that extend beyond the initial purchase price.
• Printers, tills, barcode scanners, and other essential accessories are included in the hardware price.
• Software license fees should also be taken into account which might be assessed on a monthly or yearly basis.
• Upgrades, technical assistance, and hardware repairs are all included in maintenance and support costs because they are necessary to keep the system operating efficiently.
• Lastly, most overlooked are training expenses which cover the time and materials needed to teach employees how to operate the new system efficiently.
By calculating the entire cost of ownership, you can avoid unplanned expenses that could strain your budget and make wiser judgements.
7. Seek Systems with Hardware That Uses Less Energy
Choosing energy-efficient POS hardware is another method to cut expenses. Over time, your utility bills may decrease because modern technologies frequently use less power.
Furthermore, energy-efficient systems typically last longer, requiring fewer replacements over time.
When choosing POS hardware, take energy efficiency into account as part of your overall assessment.
In Conclusion
A new POS system doesn't have to be expensive. By determining your business requirements and all the other factors mentioned above, you can put in place a system that improves business operations while staying within your budget.
Making an informed financial decision can also be aided by assessing the total cost of ownership and planning for scalability.
You may select a point-of-sale system that helps you achieve your business objectives without jeopardising your financial stability if you take a calculated approach.