Updated: Jul 25, 2020
>>> One: Accounting / Bookkeeping
>>> Two: Invoicing / Billing / Point of Sale
>>> Guide: The Invoicing / Billing / POS Software You Need [YOU ARE HERE]
>>> Deep Dive: The Top 3 Invoicing / Billing / POS Systems
>>> How-To: Setup Your Invoicing / Billing / POS Software [coming soon]
>>> Three: Workload Management
>>> Four: Customer Management [coming soon]
>>> Five: Domain Name / Website / Social Media [coming soon]
So you've got a few customers, and they're willing to give you money for your product or service. Great! Now what? How do you actually accept that payment? You could hope they have cash, but who really carries cash anymore? Accepting credit cards and mobile payments is a necessity to not lose sales. But every solution seems the same. All you really need is to take the money from this customer standing in front of you.
How do you wade through all the apps and find the one you need?
Let's start with a quick understanding.
What does invoicing, billing, and point of sale software actually do?
At its core, point of sale systems allow you to accept money from the sale you just made. Depending on your type of business, you might need to accept payment in a variety of methods. A retail storefront will have physical customers and need to take credit cards. A services-based business will typically perform work and then invoice customers at a later point. An eCommerce platform will need to handle online payments. Luckily, in 2020, a single point of sale system can do all of that.
Want to know what system is right for you? Check out our Invoicing, Billing, and Point of Sale Deep Dive!
So why does that matter?
The money coming into your business is pretty important. If you can't effectively take payments, you won't be in business long. And more than that, in today's day and age, you will lose a lot of business if you make it difficult for your customers to pay you.
First and foremost, an effective point of sale system makes completing the purchase simple and painless for both the employee and the customer. Many people will overlook it, but you can lose just as many sales if your customers have a bad experience because your employees are stuck tapping away on a screen. Your team members should be focusing on engaging the client, not staring at a computer.
And even if you're a business that invoices customers later on, you still want to make the process as easy as possible for both sides. How painful is using email to try and track which customers have paid and which haven't? Wouldn't it be better if you had a single dashboard to view all your invoices?
What about companies that sell online? In 2020, selling on the internet is quite common for businesses. You need a simple way to allow your customers to checkout from your online store without complicated custom software.
It can also be a necessity for businesses to take advantage of multiple sales channels - in-person, online, and more. It is not realistic for you to manage multiple systems to handle your different types of sales.
Modern point of sale systems have recognized that the tools must be just as good for the merchants as they are for the consumers. Today's software makes it straight forward to get money from your customers faster and more conveniently.
There's a lot of smart people who have already tackled this problem. You just need to know how to take advantage of the systems they've built. Instead of letting processing payments be a pain in your life, let's let software handle that instead.
Who needs invoicing, billing, and point of sale systems?
Anyone that needs to accept money from a customer. By far, the vast majority of businesses fall into this category. Even if you're not taking money in from an end customer, you're still most likely in-taking money in some capacity. You need a system to streamline that process.
Moreover, you need a way to effectively keep up with who's paid you and who hasn't. Which insurance claims have been paid and which haven't. You don't have time to track down emails and reconcile bank statements. You need to be running your business.
And thanks to today's tech, business owners can start out with a system that will scale with their growth. Unlike other types of systems, modern point of sale software can expand as you gain more business.
All the more reason to get started on one of these payment platforms early.
Confused? Questions? Just ask! firstname.lastname@example.org.