In the current business world, it is crucial to have efficient technology in place that will reduce the margins for error and improve how you run your operations. For small businesses, this can sometimes pose a challenge due to budgetary and staffing constraints.
With the help of POS Integrated EFTPOS, small businesses can now enjoy the many benefits of this seamless technology integration often as a cost-effective option or even at no additional cost by using free options. In this article, we will discuss some of these benefits and show you why it can be beneficial for your business to make the switch to integrated EFTPOS terminals.
What is a POS system?
POS stands for Point of Sale and is a combination of hardware and software that lets you run your business more efficiently. The system facilitates various business requirements such as tracking sales, inventory, customer appointments and even employee schedules.
It is often located at the point of purchase where you checkout customers (such as the till or at the table) and allows your business to accept payments while tracking sales and inventory.
As with any technology, POS systems have also progressed. Going from physical cash registers to savvy digital systems with options to integrate with your eCommerce and physical payment platforms such as your EFTPOS machine.
POS systems are often used in retail environments, but they can also be used in other industries such as hospitality, medical and service based businesses like hair salons.
Some examples of POS systems used in New Zealand and Australia include:
What is integrated EFTPOS?
Integrated EFTPOS is a type of solution where your EFTPOS terminal is seamlessly connected to your POS software. This means that payment transactions can be processed directly through the software, without the need for keying in the transaction separately on the EFTPOS terminal.
When you ring up the sale on your POS system, the purchase amount appears directly on your EFTPOS machine for the customer to accept and complete the payment. You can also see the completed sale confirmation on your POS system.
The benefits of Integrated EFTPOS terminals with POS systems
There are many benefits of using an integrated EFTPOS system, including:
- Increased efficiency: When transactions are processed through the POS software, it can save time as staff don’t need to process payments separately by manually keying in customer and card information into the EFTPOS terminal during checkout.
- Staff take payments faster and with less risk of keying errors: By processing payments through the POS system, it can help to reduce mistakes made when manually processing payments. (such as entering the wrong purchase amount)
- Contactless payments are safer for both staff and customers: With the changes in payment behaviour brought about by the pandemic, many people are now cautious about touching the terminal or handing over cash/cards. This is where an EFTPOS terminal that is integrated with a POS system can be extremely beneficial, as it means that staff do not need to touch the terminal to key in the purchase amount and customers do not need to hand over their cards or cash to staff. This makes payments safer and avoids unnecessary exposure for both staff and customers.
- Customers have a better experience: When your staff are not busy keying in the transaction into the EFTPOS machine, they can have a warmer interaction with the customer at checkout instantly improving the customer experience. Customers can be reassured that their payment will be processed quickly and efficiently when they see that businesses have an integrated EFTPOS system.
- Streamlined reconciling saves time and improves business reporting: One of the main advantages of an integrated EFTPOS system is that it can save businesses a lot of time when it comes to reconciling. This is because all transactions are recorded in one place, which makes it much easier to track and report on sales.
Are integrated POS solutions right for your business?
The advantages of an integrated EFTPOS solution are many and varied, but ultimately it comes down to what is best for your particular business.
If you’re looking for a way to increase efficiency, reduce errors and create a safer environment for your staff and customers, then an integrated POS system could be the answer.
If you like the sound of a POS and want to find something that is right for your business, there are several platforms that offer free subscriptions and trial plans for you to test what works best for you and your staff. Depending on the nature of your business and the POS system you choose, you can also enjoy the benefits of additional features like tracked inventory, easy appointment scheduling and managing employee rosters.
Smartpay EFTPOS machines integrate with some of the world’s leading POS providers to provide a seamless payment experience to your staff and customers. All our integrations are built in-house with no involvement from third party providers making it easy for us to facilitate set-up and provide assistance when you need it.
If you’re interested in learning how you can benefit from an integrated EFTPOS solution, get in touch with Smartpay today or learn more here. We would be more than happy to discuss your options and help you find the best solution for your business.