Custom POS software development has gone a long way to assist a number of businesses. Custom POS is a magical way of optimizing business needs and keeping thorough records of transactions. Earlier, businesses used to handle cash in a physical manner which obviously created various loopholes in the final calculation. However, with the advent of a custom POS system, the data tracking became transparent.
Custom POS software development has become a necessity in 2022 and in years to come! In order to automate several transactional processes and simplify business operations, custom POS is your key to success.
However, all that glitters is not gold! With plentiful pros, there are certain cons to getting a custom POS. Nonetheless, only you’re going to decide whether you’ll be able to ignore the cons to receive ample advantages from the pros or not!
So, without any further ado, let’s have a look at the pros and cons of custom POS software development and decide which side wins in the end. Let’s begin:
Pros & Cons of Creating Your Own Custom POS
- Maximized Sales
In today’s time, it’s absolutely insane to carry cash due to numerous mugging events around the cities. So, people prefer plastic money as it’s very convenient to handle. Also, in case of any robbery, you can immediately block the card. As more and more people are carrying cards, they’ll look for POS retailers to buy things. So, equipping your store with a custom POS system would help you to maximize sales.
- Product Tracking
With a custom POS system, product tracking becomes effortless. A custom POS system keeps a perfect record of product availability. Moreover, it also shows you the number of products available in your other stores.
Basically, the POS system creates a connection between all your stores. So, if any product of yours is out of stock in one of your stores, you can immediately check the availability of that particular product in your other stores and guide your customers to buy from there.
- Inventory Management
Inventory management becomes a huge hassle if you have to physically check each and every product on daily basis. More often, you miss out on perfect calculation and the revenue estimation takes a big hit. However, with custom POS, inventory management becomes so smooth and laid back.
Just as the customer purchases something, you’re immediately notified about the available inventory without the need to manually count the products. So, as a result, there are simply no errors in the final calculation. Plus, you can order more products if you’re running out of inventory.
- Detailed Invoicing
While selling a certain product, you had to manually record certain details of the product like serial number, retail price, discount offers, and other details. Nonetheless, a custom POS system has made it easier to record all the important details of the product on a single invoice. The invoice is generated in split seconds, containing simply everything about the product.
- Swift Payments
Custom POS systems have revolutionized the way payments were made earlier. POS has multiplied the speed of payments and you can notice how fast payments are made as compared to the time when a single customer waited for like 10 minutes or more to finish a certain transaction.
The blazing-fast speed of POS systems is all due to high-quality custom software development. As the time taken in making payments is now reduced through POS systems, customers can swiftly move to other shops and vendors can attend to more and more people, ensuring increased sales.
- Exceptional Customer Service
No matter what happens, how time changes, or how transactions take place, one thing would always remain uniform and that is customer service! Exceptional customer service is known to bring back customers. Hence, sellers try their best to retain customers through harmonious customer service.
However, in earlier days, no matter how much you tried, one thing or the other ended up being ruined, leaving the customers unhappy and making the sellers annoyed. With the advent of custom POS, customer service is enhanced as sellers can track each of their customers, send them emails prior to a product launch, offer freebies, and communicate with them in a bid to build customer loyalty.
- High Cost
High costs become a huge barrier to getting a custom POS system. If you contact a custom software development company for a POS system, they can offer you slight discounts. However, with all the software and hardware requirements, the end product is definitely costly.
- Cyber Theft
Cybercriminals are becoming smarter with each passing day. If they’re able to breach the security of a POS system, they’ll steal sensitive data from the customers, making your business highly unreliable.
- Costly Maintenance
As you’re aware that technology is changing at a rapid pace. Today, technology might seem quite fascinating. But, after a few years, the same technology would become obsolete. Hence, if you get a custom POS system today, you’ll need to maintain it on regular basis in order to match the pace of the fast-moving world of technology. Maintenance is definitely costly.
- Internet Connection Required
An up-and-running internet connection is needed to run a POS system. However, you might be able to use the base options but additional features would be turned off if there’s no internet connection.
The Bottom Line
There are endless pros to creating your own POS system. However, there are cons too. But, in our opinion, the pros are so convincing that you might skip the cons and get a custom POS just today. To be honest, it’s critical to move along the whole world. Otherwise, you’d be left behind. In order to find affordable POS solutions, do get in touch with Altamira developers.