Transaction fees make POS software more expensive for retailers. They are a hidden cost of ownership of POS software.
Tower Systems does not charge a transaction fee. Tower Systems does not force you to use any specific payments platform. We think this is what makes the total cost of ownership(TCO) of the Tower Systems POS software so low, and so loved by retailers.
The total cost of ownership (TCO) of POS software is the sum of all direct and indirect costs associated with the purchase, implementation, maintenance, and support of the software over its entire lifespan. This includes:
- Initial purchase price or the monthly rental cost summed over time: The cost of the software license and any associated hardware costs. Tower Systems has a simple monthly rental cost with no requirement to pay a year in advance.
- Implementation costs: The cost of installing and configuring the software, as well as training staff on how to use it. Tower Systems offers optional training (onboarding).
- Maintenance and support costs: The cost of ongoing maintenance and support, such as software updates, security patches, and technical support. The cost of support for the Tower Systems POS software is included in the monthly rental price.
- Other costs: Other costs that may be associated with POS software include credit card processing fees, integration costs with other systems, and downtime costs. Tower Systems does not charge any processing fees or any payments fees.
The TCO of POS software can vary depending on the size and complexity of the business, as well as the features and functionality of the software. For example, a small business with a single retail location may have a TCO of a few thousand dollars per year, while a large enterprise with multiple locations may have a TCO of millions of dollars per year.
Tower Systems keeps the cost of the software simple, easy to understand and manageable for the local specialty retailers on which it focuses.
Here are some tips for reducing the TCO of POS software:
- Choose a software solution that does not charge transaction fees.
- Choose a software solution that does not lock you into a specific payments platform.
- Take advantage of free training and resources offered by the software provider. Tower Systems offers plenty of these.
- Use the full features of the software to maximise financial return for the business.
By carefully considering all of the costs associated with POS software, you can choose a solution that is right for your business and your budget.