Point-of-sale (POS) systems have evolved significantly over the last decade. What was once as simple as a cash register, barcode scanner, and card swipe machine has now expanded to include cloud-based metrics, in-store fraud prevention, mobile payment technology, and more.
The POS terminal market is set to grow 20% over the next five years
, making it highly likely that your business will look into new advancements in either the hardware or software sides of these robust retail solutions.
Here’s how these innovations, including HP POS products, are changing the game for businesses of all sizes.
Types of POS Systems
Part of what makes today’s POS systems so valuable is that they are as agile as the businesses that use them. They are easily configured to meet the exact needs of both the customer and the business.
From mobile-only payment devices to high-end systems that handle inventory, automated marketing funnels, and loss-prevention analytics, there’s a winning combo of hardware and software to make your life easier.
Three categories of the most commonly used POS systems include:
These systems grow as your business grows, giving you the power to expand capabilities at a moment’s notice. You can pick a modular POS system that fits the physical space of your retail location and customize the processing speed and memory size to tackle the work of your daily sales and inventory.
This will streamline both the front of the store and the back of the business. These systems are designed to work with a variety of peripherals, too, including printers and barcode scanners.
For retailers who prefer a plug-and-play approach, all-in-one systems are an attractive option. They’re aesthetically pleasing, with a complete hardware and software package encased in one beautiful countertop display unit.
But they’re also customizable through the peripherals and software services you’ll use most. If you don’t have the space for a modular processing unit and prefer a wire-free approach, all-in-ones could be perfect for you.
Do you desire the computing power of a traditional, modular system, but need on-the-go payment processing and inventory options? A convertible POS system offers the best of both worlds.
It provides a stationary workspace for storing and processing data but also includes a removable touch screen component you can take with you throughout the store. Managing inventory, answering customer questions, and handling every aspect of your business just got more flexible with this newest addition to the POS family.
Best features of HP POS systems
If you haven’t decided which of the three POS options is right for your business, learning more about each product series can help you make an informed decision. Here are just a few of the features business owners are enjoying in today’s models. HP’s point of sale systems cover each category with a full suite of hardware, software, and HP retail support services, as well as peripherals to help you achieve your retail goals.
1. Excellent ROI
Investing in a retail POS system may feel like a big-budget decision, but the potential returns are significant. Today's systems are compatible with top payment processing services, order tracking, and inventory tools. You can easily integrate them into your loss prevention suite to better track loss in each retail location.
Managing all of these tools in one workstation that also handles payment transactions is an invaluable upgrade. Any growing business that hopes to centralize and automate more day-to-day tasks should take note.
2. Uncompromised security
It’s not enough to utilize firewalls and antivirus protection. The right POS system should come with hardware-enforced security solutions that add layers of protection to your existing operating system and enhance the approved software protections you already enjoy.
BIOS protection, authentication procedures, and physical barriers (such as secure cash drawers) can work together to create a safer environment for you and your team. You shouldn’t have to be a tech expert to enjoy the peace of mind that comes from a protected POS system.
3. Flexible payment options
There’s nothing worse than losing a sale because you can't accept the customer's preferred method of payment. A modern POS solution can set you up for numerous payment options, including mobile payments, checks, cash, and all the major credit cards.
Whether you have a preferred payment gateway or you’re looking to find your perfect pick, the best POS systems come with the right tools integrated so you can quickly and easily add new payment options.
Top HP POS models
While all of the HP POS systems offer the above, each has its own unique style. Which of these would most likely benefit your business?
This system may truly have everything you need for the most versatile POS experience available. The sleek interface works as a customer-facing brand display or self-service checkout, but you can also use it as an associate-facing dashboard for reporting, inventory, security, and more. It’s as sleek as it is functional and embraces the best of what HP POS managers highlight today.
The highest-performing HP retail system, the HP Engage Flex is ready to go right out of the box and brings security surveillance, inventory management, and payment processing together in one solution.
This portable machine lets you take the power of the HP Engage system anywhere you need to be, from the retail floor to the road.
The compact HP MP9 is powerful but also leaves more space on your counter. It includes the latest security enhancements, plus Intel’s 8th Generation processors, so you can do more without cluttering up your workspace.
Additional POS tools to consider
While the primary POS unit is at the core of finalizing each purchase, there’s something to be said about how accessories are changing the customer experience
. These top accessories can help make modular, all-in-one, and convertible systems a better fit for your business needs, whether you’re selling from the road or are comfortably operating in a permanent space.
1. Barcode scanners
Barcode scanners have certainly evolved over the years, with today’s offerings allowing you to check inventory, scan UPC codes, take mobile payments, and more. Choose between stationary hand-held scanners that stay at the register or portable options you can carry throughout the store. Image capturing is another high-tech benefit of this peripheral.
2. Receipt printers
Accept coupons, validate checks, print out rebate receipts, and more with the wide variety of receipt printers available for POS systems. Both serial and USB connectivity are available, with improved flash memory for creating the right look and messaging for all of your printed receipts.
3. Cash drawers
A must-have for any business that accepts cash or checks, the standard cash drawer has received a major upgrade. Pick from several options for your POS needs, including USB-connected drawers with enhanced security features.
Whether you want a fully-interactive display that both customers and associates can use, or you need a modest display bar at the top of your POS system, these accessories are a must-have for sending the right message and keeping your customers informed during every step of the transaction. Full-screen displays are available up to 17 inches, and many offer touch screen capabilities.
From performing internal tasks, such as inventory and loss prevention reporting, to giving your customers the latest in promotional news, these are a sharp and helpful addition to the POS system of your choosing.
Did you know?
The HP Engage console seamlessly combines all of the above accessories into one powerful software suite. In addition to managing your favorite tools, it helps you mix and match peripherals so you can handle all of your favorite card payment services, inventory software, and reporting tools.
Which HP POS system is right for you?
If you’re having trouble choosing a POS system, it’s important to know that all of the HP RPOS offerings are designed to grow with you. For many businesses, however, the best choice is the most robust one, and the HP Engage One Prime is best poised to handle front and back-of-the-house tasks with ease.
Even if you’ve never used a modern POS before, this system is designed for power and simplicity, plus you’ll have access to the HP customer support team specifically trained for onboarding. With so many options for personalization and expandability, you can confidently take a step forward on your retail journey.