Growing Maryland Local Businesses with a Point-Of-Sale System
It’s important to be an active participant in growing Maryland local businesses while continuing to capitalize on technological opportunities. When one of us thrives, we all thrive. USB Payment Processing has been helping local businesses in Maryland since 1996! We understand that technological advancements have allowed businesses to capitalize on their everyday data. When computers rose to popularity in the 1980s, IBM went and built the first computer-based point-of-sale system, then a year later, created another model with a touch screen. Finally, in 2002, a UK-based company released software for a cloud-based point-of-sale system. Cloud technology uses the internet to store, retrieve, and share resources on data instantly. This allows you to access the data at any time from any device. As businesses grow and expand, data gets harder and harder to keep organized and accounted for, that’s where the advantages of a point-of-sale system come in.
What is a Point-of-Sale System?
A point-of-sale system is a digitized device that allows you to accept credit cards and electronic payments for a brick-and-mortar or e-commerce store. These systems can be a combination of different technology and software options.
This technology can look like:
- Credit and debit card readers
- Terminals
- Customer displays
- Kitchen displays
- Self-ordering kiosks
- Additional accessories
The cost can range from $1,200 – $1,800 for a full setup. Depending on your business model, you may only need a smartphone and a mobile card reader. A mobile card reader can cost up to $60, while a mobile point-of-sale system typically ranges between $240 – $630.
This software can look like:
- On-premises point-of-sale system software
- Cloud-based point-of-sale system software
The cost can range from $0 – $400 per month. It could be a free mobile app, or a paid plan offering advanced features to collect and sort your business data. These paid plans often have the advantage of different add-on selections. Such as loyalty programs, marketing tools, and online ordering.
Do you need a Point-of-Sale System?
This system will allow you to easily accept payments, process transactions, communicate with your payment processing provider, manage payroll, and even update inventory and collect your sales data, contributing to an easier bookkeeping process.
It’s hard to decipher if your needs meet these upgrade qualifications for a point-of-sale system. It’s even more difficult to decide what kind of setup is best for your business. However, having something as simple as a checkout process without complications will help build long lasting trust with your customers. According to HotelTechReport, as of 2021, 30% of in-store point-of-sale system transactions were made with mobile payments. Credit cards were the second most popular payment method (24%), followed by debit cards (23%) and cash (18%).
Creating a pleasant shopping experience is one of the first steps to creating brand loyalty. You can use data collected about your business to help isolate and determine the problems you’re facing. If you are unsure of how to utilize this data, don’t worry! We work closely with a local marketing company, Maryland Local Marketing, who will help you create an actionable plan. They are experts in growing Maryland businesses. Set up a discovery meeting today and learn what they can do for you.
The Bottom Line.
Organizing and analyzing your data helps your business improve its performance all while, delivering and executing better marketing strategies, reducing overall costs, and offering better support, faster and more accurately. According to a 2020 survey conducted by Salesforce, 50% of small businesses report that the analytics and reporting in their point-of-sale system are integral to their operations. With technology rapidly advancing to help enhance and grow Maryland businesses, it’s important to have a clear map of your goals. With a variety of point-of-sale system options, you’re bound to find one that meets all your needs. Interested in exploring your options? Contact us today or call our team at (800) 254-7171.
We understand that deciphering your needs with technology can become confusing, that’s why we’ve staffed our team with experts to help answer all of your questions. We will help you find the point-of-sale system of your dreams and provide stellar customer service for any problems that arise down the line. Let’s grow our local community together.