1.      Never buy hardware first – it might not support the software of your choice. Don’t limit yourself this way.

2.      Never go to computer technicians for advice. They are great in helping to choose required hardware but hardly know anything about retail industry and its specifics. Poor advice in the area of business software leads to money loss and frustration.

3.      Choose the POS software vendor wisely. Evaluate his reliability based on the company’s road plan, business reputation and stability. Ask yourself – what happens to my investment if this vendor goes out of business? Is there support for the system I am buying? What if there is a bug in the software and who’s going to fix it? Be confident in your purchase.

4.      Make up your own mind – don’t pass the decision making process to someone else unless you are absolutely sure that that person knows your business inside-out! Each retail business has its unique requirements and workflows. Only you can choose the system with the right functionality.

5.      Make your shopping list! Write down all the features you may need in your POS and ask the supplier to demonstrate them to you. Also be curious how other retailers do things – just because you've done things the same way for 3 years doesn't mean it's right.

6.      Typical POS and inventory management systems help you on two major fronts: in lowering your costs through better inventory management and eliminating shrinkage and by increasing customer loyalty. While the first is a quite standard set of features and routines, the customer loyalty systems vary from industry to industry and from retailer to retailer. Gift cards, loyalty points, incentive coupons and discounts, membership clubs etc. – there are many ways to keep the customers interested! Think of which type of customer incentives you want to use and see if the software will support it.

7.      Some POS systems come as a product, some – as a service meaning that you don’t own the software but only have an access to it for a nominal fee. Decide which is better for you. Make sure that you thoroughly understand your terms and conditions before signing up for anything.

8.      And remember – after you bought your POS system, spend enough time to learn it! It is your investment – use it wisely and to the full.