Having the right point of sale (POS) system in place remains critical to the success of franchised operations (and non-franchised ones, for that matter). That’s why it’s important to exercise great care when choosing a new franchise POS system. Here are five key considerations to keep in mind as you evaluate your technology options.
•Integration. Look for a franchise POS system whose configuration allows it to be integrated with various modules, including inventory management, accounting, time and attendance, loyalty, and gift cards. With an integrated system, the chances of discrepancies and errors that may occur when data is manually transferred from one system to another is minimized. An integrated system also yields access to real-time data across the board without tapping into multiple sources, giving you easier control over your entire business. This isn’t possible with disparate systems.
•Security. Your franchise POS system should be compliant with the Payment Card Industry Data Security Standard (PCI DSS) to protect the integrity of sensitive customer data, such as credit card numbers. However, there’s more to the security equation. To further guard against data breaches, select a franchise POS system whose vendor doesn’t assign universal access credentials (which, by virtue of widespread use, can be easily guessed by unauthorized parties), installs critical update patches within one month of release, and maintains your operation’s antivirus program.
It’s also important that the franchise POS system comes from a vendor that recognizes the importance of segmenting your POS environment — i.e., not allowing POS software to run on a system where employees can browse the Internet and sensitive information could be easily compromised by accidentally clicking a malicious link. You should have separate servers — one for the POS and the other for other aspects of your business, with the POS server properly segmented from the other via a firewall.
• Robust reporting. One of the best ways to maintain a handle on what’s going on with all aspects of your business is reviewing in-depth reports. With robust reporting capabilities, you can slice and dice data from different systems in multiple ways, and to drill down through the data for a SKU-level view of sales. Some of the best business insights — no matter what they pertain to — can come from reports generated by the franchise POS system.
• Ability to facilitate multi-unit management. Even if you currently own a single franchised unit, select a franchise POS system that allows you to manage multiple facilities from a single dashboard. If you open additional locations in the future, a franchise POS system with multi-unit management capabilities will make it possible to manage a cadre of stores in the most efficient manner possible.
• “Acing” the trial run. Test before you invest. You wouldn’t buy a car without taking a test drive, and the same should go for purchasing a franchise POS software system. Insist on the option to try out the technology in a limited installation prior to signing on the dotted line, to ensure that you and your employees are completely comfortable with the way it is configured and the manner in which it works. Unless you’re entirely satisfied with what you see and with the results of the trial run, keep shopping.
A franchise POS system is one of the best investments you can make to position your franchised operation for continued growth. Exercise care in evaluating each solution you consider, starting with the criteria above. This will ensure you make the best decision for your franchise.