Square provides a POS system that provides users with insightful data and analytics, processes transactions quickly and manages customers and businesses effortlessly.
Square is most effective for small companies and new merchants, especially to those individuals who want to start, run and grow their business. It has a complete register service, a suite full of powerful features and tools and an intuitive interface catered for easier business management. The POS system serves as the central component for your entire business. Without it, business owners experience more challenges in inputting data for sales, inventory and customer management.
Square Features
Interactive dashboard
One of the most tedious and challenging tasks business owners must face is the number of administrative tasks and large amounts of paperwork you must update constantly. With Square’s interactive dashboard, however, you can see the performance of your business through easy-to-understand visuals and graphical representations. Additionally, the dashboard allows you to create, send and track invoices without any technical expertise.
This feature lets you have a centralized hub spot for customer profiles, employees and locations. Any changes made in the information database are instantly updated. This means that employees, if you give them access to manage inventory and set up an online store, will have access to up-to-date data.
Real-time analytics and sales reporting
Having insights regarding your sales performance is one of the most sought-out features businesses are currently looking for. You can discover what your customers want based on the items they’ve bought and how frequently they return just to purchase more. You can even track your total sales performance and compare them to different periods of your business. You can compare current sales from the last week and even to the previous year.
Inventory management
Inventory management is another useful feature to have when selling products online. One of the worst things a business can experience is an overstock of supplies and even a lack of them as well. With this feature, you’ll never miss a sale as you’ll always be prepared to give your customers want they want. What Square software solution does is it lets you view, manage and track inventory. Additional tools include the ability to edit items, get low-stock alerts and update quantitates.
Customer directory
When a customer is satisfied with the products or services they’ve bought from you, they are bound to come back. When this happens, a customer directory is very effective in ensuring better customer relationships. This feature lets you add every customer to your directory from each point of sale, save credit card information for future purchases and send custom digital receipts.
Employee management
Another helpful feature Square offers is employee management. What this does is it lets you set different levels of access for your employees and track the hours they’ve worked. By tracking the sales and hours they’ve worked for, it will be easier to compensate them properly on paydays.
Square Benefits
Here are three key benefits users can gain through Square:
Accept all types of payment
With Square, you can open several payment methods for your audience. This makes it easier to exchange transactions between the business and the customer. You’ll be able to receive payments via credit, debit and deposits.
Easy and efficient invoicing
Invoices reflect the details of the purchase orders the customers have paid for. Square makes it easier to send out invoices, estimates and payments using a single solution. This is done through three simple steps: 1. Enter the customer’s email, 2. Enter the details such as unit price and quantity and 3. Hit send. This allows for transparency and organization within the entire invoicing process.
Data protection and security
With the Square software solution, security is in their best interest. It has a complete payments security platform for proactive compliance. You don’t have to worry about the burden of ensuring compliance within the business as Square does it for you. It also has reduced costs, full security suite and compliance professionals. With all of these tools, you don’t have to rely on creating and developing a compliance team.
Square Pricing
Square POS functions differently than most software solutions. Instead of charging users based on monthly fees, startup fees or even minimum transaction requirements, Square bases its price on a 2.6% flat-rate transaction fee. This means that for every tap, dip or swipe that results in a sale, you must pay 2.6% of it. This is helpful for small and startup businesses as this means Square is otherwise effectively free except for the transaction processing fees.
However, some specific square costs exist that users need to know about. These include invoices and online sales. For every transaction regarding invoices, users are charged 2.9% and 30 cents. On the other hand, 2.9% plus 30 cents are charged per transaction for online sales.
This lets you add as many points of sales as you need, especially since there is no fixed price. At the end of the pay, all you pay is the transaction rate. Square POS also has costume volume rates which means you can avail for custom pricing packages. This is catered for businesses with more than $250K in card sales and average ticket sizes of over $15.
Users can also pay monthly for additional features in Square. Employee management and payroll processing are rated at $5 per month. If users wish to conduct email and Facebook marketing, it can cost up to $15 per month. A loyalty program is rated at $25 per month. Meanwhile, Square retail and Square restaurant are priced at $60 per month. On the other hand, Square appointment is completely free for individuals, but the price can range from $50 to $90 per month for businesses.
Conclusion
Overall, if you want an all-in-one intuitive application designed to address issues and concerns related to point of sales in your business, then Square is one of the top contenders in the current market. Not only does it have several defining features, but it also has an easy-to-navigate interface. However, the main reason why you should use Square is due to its affordable and transparent pricing solution. Small businesses can benefit from a proper system that does the work for them. All for a transaction rate of 2.6%.
Nowadays, several companies and businesses make use of Square for its indispensable core software features—sales reporting, Inventory management, customer management and employee management. Having these in place can be beneficial in improving the way daily operations are handled and business processes are streamlined.
It’s trusted by more than two million businesses all around the globe—which says a lot about its product. It’s free to get started, aside from the transaction rate once you start making sales, meaning users don’t have to completely commit before they’ve had the chance test out whether it could work for their business.
