Box VS Dropbox: Storage Wars

Cloud storage. It is the kind of thing you don’t want to think about when setting up your business; you want to focus on the exciting things like prototyping products, hiring employees, and making sales. But, as with so many other parts of life, the fundamentals can often make the biggest difference. In the world of cloud storage and file sharing, that means figuring out which provider offers the best value for money, the best supplemental features, and the one that best suits the style of your team.

While there are plenty of options out there if you want to store your files and other documents online, two apps, in particular, seem to have the most brand recognition at the moment: Dropbox and Box. They share frustratingly similar names (seriously, whose idea was that?), and they aim to achieve similar goals: secure storage of files and folders. To learn which is best, we need to go in for a closer look. This is storage wars: Box vs. Dropbox.

Pricing

Right off the bat, Box jumps into the lead with a $5 pricing option. Described as a small-team subscription, this comes with just 100 GB of storage, so for some businesses, particularly those with lots of files, this will not be enough. The next steps up for Box are their Business and Business Plus plans, which cost $15 and $25 respectively. The difference between these plans is not in the amount of storage available, since both offer unlimited data, but rather in the supplemental features that accompany them. The Business Plus plan has more admin features and allows for unlimited external users and collaborators. If you work in graphic design or closely with clients in any field, this might be the subscription for you.

In the other corner, Dropbox begins their business subscriptions with the “standard” level at $12.50/user/month. For that price, you get two TB storage, as well as Dropbox Paper and a number of other snazzy features. As starting subscriptions go, this one isn’t too bad, though you’ll note it is significantly more expensive than the basic Box subscription. Having said that, though, I feel that the “standard” Dropbox account subscription is better compared with Box’s Business level. Both come with plenty of storage space for files, and both include basic admin tools.  With that as our premise, I think Dropbox might squeak by with the win. Two terabytes will be sufficient for most teams, and Dropbox Paper is pretty interesting (more on that later). If the “standard” level is not enough, you might opt for the “advanced” subscription. This comes with “as much space as your team needs,” which, I’ll note, is not the same as claiming unlimited storage. The advanced plan also comes with an array of security features all designed to keep your precious data safe.

Verdict: This is pretty much a tie. Box starts out cheaper, but with much less storage available. In terms of value for money, Box and Dropbox are basically even.

Features

Obviously, both Box and Dropbox offer cloud-based document storage. Within that broad umbrella, each offers slightly different approaches to the general goal of allowing remote collaboration on a variety of file and document formats. Both boast seamless integrations with Microsoft office and both claim they are designed to allow keep everyone connected across all devices. To pick which is best for you, though, we need to understand what makes them different. Let’s start with Box.

The team at Box would rather you refer to their product not as “cloud storage,” but as “content management.” Sure, you can store your pdfs and Microsoft Word documents here, but Box is also optimized to view 3D files as well. Box’s website is filled with case studies and testimonials from multiple industries sharing how Box allowed them to consolidate and streamline their process. In particular, though, I found that Box seems to have two major strengths in comparison with Dropbox. First, this app allows users to have greater collaboration on files with non-account holders. Basically, you can create guest accounts to allow clients to join in on the collaborative process. Dropbox also has this capability, but with Box, you are not limited in the number of external users. Second, Box seems better suited for integrations and customization. If your team includes people comfortable with coding, or if you use a particular their-party app, Box is well situated to fit in well with your needs.

Dropbox, on the other hand, brings an important feature to the battlefield: Dropbox Paper. Paper is a collaborative tool allowing you and your team members to clearly track and process your work. Basically, Paper is a timeline with a record of your projects and tasks. That’s right; Dropbox business plans come with light project management tools. For me, that is the biggest strength of Dropbox for business. You can assign various documents to different team members and monitor their progress in completing their task. Dropbox also has more admin tools that can restrict or grant access to users as situations demand.

Verdict: It really depends on what you are trying to accomplish. If you are looking for a flexible platform to work on and view all sorts of documents, pick Box. If you want a more focused approach to getting work done, a Dropbox folder may be the better choice for you.

Final Thoughts

Some wars are fought with decisive victories that bring the conflict to a conclusive end. Others drag on for years, decades, even centuries (hey, they didn’t call it the 100 years war for nothing, right?). The conflict between Box and Dropbox is one of those, where both sides trade blows without any clear end in sight.

The problem is these apps basically accomplish the same thing. Though they are priced differently and seem to have different strengths when compared directly, the reality of the matter is that both Dropbox and Box allow you to store your files in the cloud and access them from any of your devices. From that macro perspective, there is very little difference between the two. In their marketing materials, they both even use the same example of collaborating on a slide show! From a micro perspective, I would say that Dropbox offers tighter control over your documents, especially if you opt for the “advanced” subscription. Box, though, seems more flexible and allows for greater customer interaction.

Fortunately, both offer free trials, which will allow you to try them out and see which one you prefer for yourself. My recommendation: use this comparison to pick the one you think will be a better fit for your business. If you aren’t satisfied, opt out and try the other option. Happy storing! Stay safe out there.

The post Box VS Dropbox: Storage Wars appeared first on Merchant Maverick.

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Best Cash Flow Loans For Small Businesses 2018

Best Cash Flow Loans For Small Businesses

You can’t run your business with an empty wallet. In life, money isn’t everything, but in business, cold hard cash is what makes the world go round. It’s what lets you continue your sales operations, pay your employees on time, manage your operating expenses, and turn a profit.

But what do you do when cash is running low or not coming in as quickly as you like? One option is to take out a business cash flow loan.

Not sure which type of cash flow loan is right for you, or where to find the best cash flow loan lender? We’ve got you covered. The article discusses the top seven cash flow loans for small businesses.

Let’s start by taking a look at this quick comparison chart of cash flow lenders.

StreetShares OnDeck LoanBuilder
Products Offered • Term loans
• Lines of credit
• Contract financing
• Term loans
• Lines of credit
• Short-term loans
Best For Small- to medium-sized businesses looking for a working capital loan or line of credit. Small- to medium-sized business looking for fast funding. Small businesses looking for a short-term loan with weekly repayments.
Required Time in Business 12 months 12 months 9 months
Required Revenue $25,000 /year $100,000 /year $42,000 /year
Required Credit Score 620 500 550
Read Review Read Review Read Review
Visit Site  Visit Site  Visit Site
Fundation BlueVine Fundbox
fora financial logo
Products Offered • Term loans
• Lines of credit/td>
• Lines of credit
• Invoice factoring
• Lines of credit
• Invoice financing
Best For Established businesses looking with good credit looking for installment loans or lines of credit. Small businesses looking for a line of credit or invoice factoring for consistent cash flow. Small businesses looking for a line of credit or invoice factoring for consistent cash flow.
Required Time in Business 12 months 6 months N/A
Required Revenue $100,000 /year $120,000 /year N/A
Required Credit Score 600 600 N/A
Read Review Read Review Read Review
Visit Site  Visit Site  Visit Site

There are more details about each lender below. Read on to learn which cash flow solution is right for you.

Best Types of Loans For Cash Flow

There are several types of loans that can be great options for increasing cash flow:

  • Installment loans
  • Short-term loans
  • Lines of credit
  • Invoicing financing

We’ll go over each type of loan so you can know exactly what to expect and choose which type fits your business’s needs best.

Installment Loans

Installment loans, also called term loans, are loans in which the borrower receives a lump sum of money that is paid back in regular installments. Interest is charged throughout the duration of the loan. Many times, you can save money by paying the loan back early (so long as your lender doesn’t charge a pre-payment penalty).

Installment loans are paid back in regular installments, usually on a monthly basis. Each payment goes to paying a portion of the principal (the borrowing amount) and the interest (a fee based on a percentage of your remaining principal). Most installments loans have term lengths between 1 and 25 years.

Installment loans can be used for multiple business needs, including short-term cash flow and long-term business growth plans. Common uses for installment loans include:

  • Working capital (or everyday expenses)
  • Inventory purchasing
  • Equipment
  • Business expansion
  • Business acquisition
  • Debt refinancing

Because of the longer term lengths, installment loans are considered higher risk than other types of loans, and young and unstable businesses might have trouble qualifying. These loans are best for established businesses that want a longer period of time to repay their debt.

Short-Term Loans

A short-term loan is a lump sum of money granted to a borrower and paid back in frequent, regular installments over a short period of time. Unlike an installment loan, a short-term loan does not have an interest rate; instead, this type of loan has a factor rate — a multiplier used to calculate a fixed fee that is added to your loan. The fixed fee is only calculated once and is repaid in along with the principal.

Short-term loans are paid back in regular fixed installments on a weekly, or even daily basis. For this reason, short-term loans are ideal for businesses with enough cash flow to afford these payments. Most short-term loans have term lengths between 3 and 18 months (with some up 24 or 36 months).

Short-term loans can be valuable for multiple types of business needs. Common uses for short-term loans include:

  • Working capital
  • Inventory purchasing
  • Equipment purchasing
  • Business expansion
  • Hiring or training new employees

Short-term loans are considered low risk and are generally known for low borrower requirements, fast funding, and no specific collateral. This type of loan can be ideal for businesses in need of extra cash who have the existing cash flow to make frequent repayments.

Lines of Credit

Unlike short-term loans and installment loans, lines of credit aren’t lump-sums of money handed to you all at once by a lender. Instead, when you are approved for a line of credit, a lender gives you access to a credit line with a certain amount of money that you can draw from at any time. 

Any draws made on a line of credit are paid in regular installments. Most lines of credit are revolving — as soon as you pay off the amount you used, it’ll be added back into the total available on your credit line. This means you can keep using the same funds again and again without reapplying for a loan.

Lines of credit are great for short-term, everyday business need, making them a great cash flow solution. Lines of credit also are a great cash cushion for unexpected expenses and emergencies. Common uses of a line of credit include:

  • Working capital
  • Payroll
  • Overhead costs
  • Seasonal expenses
  • Inventory purchasing
  • Unexpected expenses

Lines of credit are fairly easy to qualify for because they are offered by such a wide variety of lenders. They are ideal for nearly any type of business in need of a cash flow solution or looking for peace of mind regarding unexpected expenses. The only downside is that if you use up all of your credit line at once, you may not have access to the cash you need until you pay some of it back.

Invoice Factoring

Invoice factoring is a cash flow solution in which you sell your unpaid invoices to an invoice factor in exchange for immediate cash. The tradeoff is that the invoice factor keeps a portion of the cash from the invoice on reserve until your customer pays. Once paid, the factor will grant you the rest of the reserve, minus a small fee.

Contract lengths, and the invoices eligible for factoring, vary by lender.

Invoice factoring allows businesses to receive cash faster than they normally would. The money received from invoice factors can be used to meet various business needs:

  • Working capital
  • Payroll
  • Inventory purchasing

Invoice factoring is a great solution for businesses that suffer from slow paying customers and are in need of immediate cash. You do lose a small portion of your invoice sale to the factor’s fees, but this can be more than worth the cost for many businesses that rely heavily on invoices.

The Best Cash Flow Loan Lenders

StreetShares

Best For…

Small- to medium-sized businesses looking for a working capital loan or line of credit.

Products Offered

  • Installment loans (or term loans)
  • Lines of credit
  • Contract financing

Founded in 2013, StreetShares is a peer-to-peer (P2P) lender created by veterans for veterans, although now any eligible merchant can access funding. This lender offers installment loans, lines of credit, and contract financing (similar to invoice factoring). StreetShares boasts no prepayment penalties, an easy application process, and excellent customer service.

Borrower requirements:
• Must be in business at least 12 months with a revenue of $25,000 per year (sometimes StreetShares will make exceptions for high-earning businesses at least 6 months old).
• Must have a personal credit score of 620 or above.
Visit the StreetShares website
Read our StreetShares review

Here are the rates for StreetShares installment loans and lines of credit:

Borrowing amount: Up to $100K
Term length: 3 – 36 months
Interest rate: About 6% – 14%
Closing fee: 3.95% or 4.95% (installment loans)
1.5% draw fee (lines of credit)
APR range: 7% –  39.99%

These are the rates and fees for StreetShares’ contract financing:

Credit facility size: Max $500K per invoice
Advance rate: Up to 90%
Discount rate: Varies
Max overdue account: 180 days
Additional fees: None
Contract length: N/A
Monthly minimums/maximums: None
Factor all invoices: No
Recourse or non-recourse: Non-recourse
Notification or non-notification: Notification

How To Apply For A StreetShares Loan

To apply for funding from StreetShares, you’ll need to fill out an initial questionnaire. If approved, you’ll be asked to provide additional information, and then StreetShares will come back with an offer (or offers). The whole process takes between two and seven days on average.

Takeaway

StretShares offers competitive installment loans, lines of credit, and contract financing to eligible small and medium businesses. If you have fair credit and a need for additional cash flow, StreetShares is a great business financing option.

OnDeck

Best For…

Small- to medium-sized business looking for fast funding.

Products Offered

  • Short-term loans
  • Lines of credit

One of the first online lenders, OnDeck offers fast approval for lines of credit and short-term business loans. Although OnDeck’s fees can get a little pricey, the service is a convenient and quick way for businesses to access cash. Eligible OnDeck applicants usually receive funding 24 to 48 hours after their initial application.

Borrower requirements:
• Must be in business at least 12 months with a revenue of $100,000 per year.
• Must have a personal credit score of 500 or above.
• Must not be in one of OnDeck’s restricted industries.
Visit the OnDeck website
Read our OnDeck review

Here’s what to expect from an OnDeck short-term loan:

Borrowing amount: $5K – $500K
Term length: 3 – 36 months
Fixed fee: x1.003 – x1.04 per month
Origination fee: 0% – 4%
APR: Approx. 7% – 98%
Collateral: UCC-1 blanket lien, personal guarantee

And here’s what to expect from an OnDeck line of credit:

Borrowing amount: $15K – $100K
Draw term length: 6 months
Draw fee: None
Maintenance fee: $20/month
APR range: 13.99% – 39.9%
Collateral: Personal guarantee

How To Apply For An OnDeck Loan

To apply for OnDeck financing, fill out an application online and OnDeck will let you know if you’re approved (usually in less than 24 hours). You may then need to provide additional documentation before receiving your funding. Typically, the loan can be approved and funded within one to two days.

Takeaway

If you’re looking for quick cash to cover working capital expenses or expand your business, OnDeck could be a great option. While the fees may get a bit spendy, the convenient, quick approval and low borrower requirements are more than worth it for some small business owners.

LoanBuilder

Best For…

Small businesses looking for a short-term loan with weekly repayments.

Products Offered

  • Short-term loans

Acquired by PayPal in 2017, LoanBuilder is a lending service offering short-term business loans to both PayPal users and non-PayPal users alike. LoanBuilder offers low borrower requirements and fairly reasonable rate and fees.

Borrowing amount: $5K – $500K
Term length: 13 – 52 weeks
Flat fee: 2.9% – 18.72%
Origination fee:  N/A
Effective APR: Learn more
Collateral: UCC-1 blanket lien

How To Apply For A LoanBuilder Loan

LoanBuilder allows potential borrowers to investigate their potential loan before applying. You simply enter some basic contact information and use their tool to check your eligibility, and then you can finish your application online.

Takeaway

With low borrower requirements and competitive rates, LoanBuilder can be a great option for small businesses looking for a short-term loan. Unlike some short-term loans, LoanBuilder offers weekly repayments instead of daily repayments which may make this loan more manageable.

Fundation

Best For…

Established businesses looking with good credit looking for installment loans or lines of credit.

Products Offered

  • Installment loans
  • Lines of credit

Founded in 2011, Fundation is an online lender that offers competitive installment loans and lines of credit without the long, complicated process of applying for a bank loan. Fundation also offers strong customer support and has very few negative complaints.

fundation logo
Borrower requirements:
• Must be in business at least 12 months and make at least $100,000 annually.
• Must have a personal credit score of 600 or above.
• Must have at least three full-time employees (yourself included).
Visit the Fundation website
Read our Fundation review

These are the terms and fees for Fundation’s installment loans:

Borrowing amount: $20K – $500K
Term length: 1 – 4 years
Origination fee: Up to 5%
APR: 7.99% – 29.99%
Collateral:  Personal guarantee, UCC-1 blanket lien

Here’s what to expect from Fundation’s lines of credit:

Borrowing amount: $20K – $100K
Term length: 18 months
Additional fees: $500 closing fee
2% draw fee
APR: 7.99% – 29.99%
Collateral:  Personal guarantee, UCC-1 blanket lien

How To Apply For A Fundation Loan

The Fundation application process includes filling out an online application, documenting your business’s ID and finances, and speaking with a representative directly to see if you’re a good fit for a Fundation loan. After speaking to a rep, your application will go through to underwriting and you may hear back in as early as 24 hours.

Takeaway

Fundation is a great option for established businesses looking for rates and fees as competitive as bank loans, without the long, complicated application process. Because of the more stringent borrower requirements, Fundation is not ideal for startups; but, if you do qualify, this financing option is well worth looking into.

BlueVine

Best For…

Small businesses looking for a line of credit or invoice factoring for consistent cash flow.

Products Offered

  • Lines of credit
  • Invoice factoring

Founded in 2013 on the idea that small business financing should be easy, BlueVine offers lines of credit and invoice factoring for small businesses. The company is known for revolutionizing the invoice factoring world and helping business owners get quick cash for unpaid invoices. With relaxed borrower requirements, BlueVine may be ideal for young businesses.

bluevine logo
Invoice factoring borrower requirements:
• Must be in business at least 3 months with a revenue of $100,000 per year.
• Must have a personal credit score of 530 or above.
• Business must be B2B and invoice customers.
Line of credit borrower requirements:
• Must be in business at least 6 months with a revenue of $120,000 per year.
• Must have a personal credit score of 600 or above.
• Lines of credit are not available in all states. See full review for details.
Visit the BlueVine website
Read our BlueVine review

Here are the rates for BlueVine’s lines of credit:

Credit facility size: $6K – $5M
Term length: 6 or 12 months
Interest rate: 0.3% – 1.5% per week
Draw fee: 1.6% – 2.5% per draw
APR: 15% – 78%
Personal guarantee: Yes

Here are the rates for BlueVine’s invoice factoring:

Credit facility size: $20K – $5M
Advance rate: 85% – 95%
Discount rate: 0.3% – 1% per week
Max overdue account: 13 weeks (91 days)
Additional fees: $15 wire transfer fee (no charge for ACH transfers)
Contract length: N/A
Monthly minimums: No
Factor all invoices: No
Recourse or non-recourse: Recourse
Notification or non-notification: Both (see below)

How To Apply For A BlueVine Loan

To apply for BlueVine funding, you’ll need to answer a few basic questions about yourself and your business. You’ll then speak with a representative who will ask several additional questions. Typically, you’ll hear back in about 24 hours.

Takeaway

With relaxed borrower requirements and an easy application process, BlueVine can be a great choice for small businesses looking to increase their cash flow with invoice factoring or a line of credit. Be sure to check that BlueVine lines of credit are supported in your specific state before applying.

Fundbox

Best For…

Microbusinesses looking for invoice financing or a line of credit to increase cash flow.

Products Offered

  • Lines of credit
  • Invoice financing

Similar to BlueVine, Fundbox is an invoice financing solution created to help small businesses have more consistent cash flow. Since its inception in 2013, Fundbox now offers lines of credit as well. Fundbox offers relaxed borrower qualifications, making it ideal for less established businesses, and there are no additional fees.

Borrower requirements:
• No revenue or time in business requirements, but must use compatible accounting or invoicing software for at least 3 months, or a compatible business bank account for at least 6 months.
• No specific credit score requirements.
Visit the Fundbox website
Read our Fundbox review

Here are the rates for Fundbox’s invoicing financing (called Fundbox Credit):

Credit facility size: Up to $100K
Advance rate: 100%
Advance fee: 0.4% – 0.7% per week
Term length: 12 or 24 weeks
Additional fees: None
Contract length: N/A
Monthly minimums: No
Factor all invoices: No
Recourse or non-recourse: Recourse
Notification or non-notification: Non-notification

Here are the rates for Fundbox’s lines of credit (called Direct Draw):

Borrowing Amount: $1K – $100K
Term Length: 12 weeks
Borrowing Fee: 0.5% – 0.7% per week
Draw Fee: None
Effective APR: 12% – 54%

How To Apply For A Fundbox Loan

Fundbox’s application is a bit unique. To apply, you simply create an account and hook it up to your existing accounting software or bank account. Fundbox then uses the information to determine whether you qualify for a loan. This process is extremely quick and most applicants will receive a funding decision in minutes.

Takeaway

Fundbox can be a great financing solution for small businesses in need of low borrower qualifications and quick cash. Fundbox’s borrowing amounts may be too small and the rates too steep for larger businesses, but for less established businesses that don’t qualify elsewhere, Fundbox can be a cash flow solution.

Which Cash Flow Loan Is Right For My Business?

With seven great options, it can be hard to know which is right for your business. When choosing a cash flow loan, ask yourself these questions:

  • What is the purpose of the loan?
  • Which type of loan is best for my business needs?
  • What’s my credit score and monthly/yearly revenue?
  • How much do I need to borrow? (And especially, how much can I afford to borrow?)
  • How quickly do I need the funding?

All of these factors will play a role in deciding which lender you should go after. If you need additional help or want to see even more financing options, check out our comprehensive small business loan reviews.

The post Best Cash Flow Loans For Small Businesses 2018 appeared first on Merchant Maverick.

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What is WordPress Hosting?

What is WordPress Hosting

WordPress Hosting is a hosting product that is pre-configured to host a WordPress powered website efficiently. There is no industry-standard definition for “WordPress Hosting” so the exact product will vary by host. WordPress Hosting is usually used for the 3 “s’s” – to simplify, to secure, and to speed up a WordPress install compared to a WordPress install on typical Linux server.

How WordPress Hosting Works

There is no industry-definition for what “WordPress Hosting” – it varies by hosting company. Since WordPress is simply software that can run on any Linux hosting server that supports PHP / MySQL – the “WordPress Hosting” is often used as an empty upsell.

However, WordPress websites do use some resources differently than other web applications – so there is plenty of scope to create a hosting product that runs a WordPress install more efficiently than a traditional install on shared / VPS hosting.

Imagine real-world housing for a second. Buying hosting is kind of like purchasing a condominium, townhome or detached house. You buy it and live in it and do whatever you want.

But now – imagine you are the builder of these homes. And you notice that most of your homeowners are all elderly couples (or couples with children – whatever piques your imagination).

Sure, these elderly couples live in your condos, townhomes, and houses all just fine with standard amenities. But you see lots of these couples making the same changes over and over. So you start selling “active adult” homes. These have ramps instead of outdoor stairs. They have reinforced bathroom rails. They have wider hallways and more functional appliances.

WordPress Hosting is kind of like that. Good hosting companies will really think through what will make a WordPress install more secure, speedier, and simpler right off the bat.

They’ll have all those features pre-configured and pre-allocated. They’ll have support staff who will dig into a WordPress install rather than only dealing with the hosting support.

With a good product, this setup works well for hosting companies because they can charge a bit more – and they know exactly how to handle a group of servers. And it works better for customers since a lot of minor WordPress headaches go away.

What Is Managed WordPress Hosting?

Now – and this gets kind of crazy and confusing – there are a bunch of hosting companies who go a step further. They will not only pre-configure your hosting account for WordPress – they will actively manage your install for speed, performance, and security.

It’s like bundled intensive support. They are typically a separate “thing” from hosting companies selling WordPress Hosting. In fact, the most well-known is WordPress.com which is owned by Matt Mullenweg – the “founder” of WordPress software. WordPress.com provides a customized but heavily controlled install of WordPress that is bundled with themes, plugins, hosting, etc for a flat monthly fee. There’s limitations and rules – but everything is done and done.

Usually the biggest installs of WordPress will live with a managed host – think the New York Times’ blogs, etc.

But they are also popular with WordPress websites that drive a lot of traffic and want hands-on support. One of my clients uses WP Engine – he loves it, he has budget for it – and it fits his site.

However, it’s important to treat managed WordPress hosting as a different beast compared to the WordPress hosting that most companies sell.

What WordPress Hosting Is Used For

WordPress Hosting is used for running WordPress powered websites at a predictable price point.

Most WordPress Hosting plans base the pricing on the projected number of visits or the number of installs – rather than allocated resources.

This makes shopping a little bit easier to do – but also means that you have to reframe what you are paying for compared to traditional web hosting.

For example, on a shared hosting plan with no limit on domains, I might be able to sustainably run 12 microsites powered by WordPress – or even a single site with 30,000 visits per month. Since I’m handling how the resources are allocated – that’s my choice. My price per website or per visit will be much, much lower than someone who pays for a WordPress Hosting plan with a limit of 2 websites and 20,000 visits.

Again – your money and your value. WordPress Hosting is used to take care of pre-configurations, speed issues, and security issues that many website owners simply don’t want to deal with.

WordPress Hosting Differences

WordPress Hosting, like reseller hosting, does not exist on the spectrum of hosting products. Instead, it’s an add-on to the traditional feature spectrum. Here’s how it differs.

WordPress Hosting vs. Shared / VPS / Dedicated / Cloud Hosting

I wrote an entire explainer on this topic here – in addition to touching on it above.

You can run WordPress on shared, VPS, dedicated, or even cloud hosting. But WordPress Hosting is always going to be some sort of customized setup for WordPress. Sometimes it’s useful – and sometimes it’s not. Here’s what to look for.

What To Look for in WordPress Hosting

Since you are paying for a customized setup and for use, shopping for WordPress Hosting can be a bit more complex than other hosting products.

You are really looking for –

  • Server Resources (memory, bandwidth, processors, etc)
  • Unique & Hard to Create Configurations (staging, NGINX, etc)
  • Dedicated Support
  • Specifics on Memory Allocation, Caching, etc
  • Plan Bonuses (ie, themes, plugins, builders, etc)

WordPress Hosting Providers

I’ve used quite a few WordPress Hosting providers both for my own projects and for clients. Here’s the main 4 companies that I’ve used & really liked. I receive customer referral fees, but all the data & opinion is based on my professional experience.

Name Best if you want… Features!
InMotion …high-performance & independent-owned w/ great customer support. See Features.
SiteGround …high-speed w/ global data centers & developer-friendly features. See Features.
Bluehost …name-brand hosting w/ good support & full product suite. See Features.
WP Engine …fully managed WordPress hosting focused on speed. See Features.
WordPress.com …fully hosted, but also limited, version of WordPress. See Features.

I also created a more in-depth best WordPress hosting guide with a quiz here.

Additionally, using a WordPress Hosting plan will not automatically solve your website speed issues. I wrote a Beginner’s Guide to Website Speed & Performance here.

The post What is WordPress Hosting? appeared first on ShivarWeb.

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What is Shared Hosting?

What is Shared Hosting

Shared Hosting is a hosting product that shares server resources across several hosting accounts. Shared Hosting is used as an affordable, straightforward hosting solution for the majority of websites.

How Shared Hosting Works

Shared hosting is quite literal. There’s no technical meaning – you are simply sharing a server with other websites. A shared hosting server runs resource management software that is configured & maintained by a hosting company. They allocate & manage resources across accounts. The accounts are fully private & do not interact with other accounts.

Imagine real-world housing for a second. A shared hosting server is kind of like a condominium. Even though each owner fully owns the unit as a property owner – the actual structure & property is shared as commons. Each condo can come with its own amenities & floorplan. The owner can do whatever they want as long as it does not impact the overall building or trash the common property.

A shared server is configured to operate smoothly & without interruption across accounts. But since resources are shared, the hosting company can (and does) impose limits & rules on each account to prevent any downtime for all accounts.

What Shared Hosting Is Used For

Shared Hosting is used for running most of the websites on the Internet. Given the resources of a typical server and the demands of a typical website, most website owners do not need anything else. With a shared server – you know generally what rules & limits you have, and you trust the hosting company to provide those resources to run your website.

If you know how many visits you receive, and how efficient your website is – then you can pay a locked-in price for those resources.

Going back to the condominium analogy, as long as you know how many people will be living at your condo and what your typical day looks like (which is most people) – the shared structure makes sense.

Often I’ll see publishers switch away from a shared hosting plan around 25,000 to 30,000 visits per month (that’s when I upgraded). For an ecommerce site, I’ll often see the switch happening around 10,000 visits per month.

Now – both of those numbers are not benchmarks. Your numbers can vary wildly depending on the exact specifications of your website. It always pays to check your own memory, bandwidth, and CPU usage on your hosting account’s cPanel page.

It also pays to understand your traffic patterns, your hosting company’s customer support – and how your website runs.

Shared hosting has some notoriety for crashing under high traffic spikes. But that misses the bigger story. Usually all the accounts on a given server are not spiking at the same time. Unless you are wildly out of proportion with your website – even a good shared host can handle plenty of traffic.

Back in 2013, I wrote a personal blog post that went viral – in quite a big way. I was on a shared server at HostGator. I gave support a heads up when a big website picked up the piece. I implemented a static cache of the page. My site handled 10,000 visits in an one hour fine.

Now shared hosting certainly can (and does) crash. Plenty of sites outgrow them – and there are plenty of other flavors of hosting products.

Shared Hosting Differences

Shared Hosting exists on a spectrum of hosting products. Here’s how it differs.

Shared Hosting vs. VPS Hosting

Shared Hosting offers fewer dedicated resources than VPS hosting. Often they will be the same server – but with VPS, more is pre-allocated rather than shared. It’s kind of like a townhome vs. a condominium. They are both private property within a building. But – with a townhome, everything is allocated (including the land and attic space). With a condominium, a lot more is shared.

With shared hosting, you have to share all of a server’s resources with the other websites on your server. This means that you can usually get a much better price than VPS – and you can usually get the same performance since the hosting company will work to keep the server load balanced.

However, a VPS hosting plan will offer more control and more freedom. You’ll know exactly how much your website can handle – because you know that another spiking website won’t affect yours.

Shared Hosting vs. Dedicated Hosting

Shared Hosting offers dedicated resources on a single server that is shared with other accounts. Dedicated hosting offers the entire server for your use. You are basically leasing a server with support & top tier connection to the Internet.

Shared Hosting vs. Cloud Hosting

Shared Hosting offers dedicated resources on a single server whereas Cloud Hosting decentralizes your website files & databases across thousands of servers everywhere. With shared Hosting, you pay for agreed-upon resources. With Cloud Hosting, you pay for use.

It’s kind of like purchasing a townhome vs. having some sort of AirBnB subscription where you can stay anywhere, anytime, as long as you pay.

With Cloud Hosting, you basically have unlimited resources – but you pay for each use. With Shared Hosting, you pay a stable price for stable resources. It’s like an a la carte all you can eat buffet vs. ordering an entree for a single price.

Confusingly, many hosting companies mix and match the advantages and disadvantages of each. A common combination is to use Cloud Hosting as backup for Shared Hosting for a set price.

Cloud Hosting is also rarely bundled with customer support. Cloud providers are all the big tech companies like Google, Amazon, Oracle, and Microsoft. It’s a commodity for sale.

Now – some hosting companies are creating innovative hosting plans that bundle support and pre-purchased credits for a single priced Cloud Hosting plan.

However, in that case, you are still paying for uses rather that resources. It’s just that you are pre-purchasing the uses.

What To Look for in Shared Hosting

Since you are paying for shared resources, shopping for Shared Hosting is simpler than shopping for other hosting products.

You are really looking for –

  • Server Resources & Performance (memory, bandwidth, processors, etc)
  • Account Rules & Limits (ie, databases, domains, disk space)
  • Customer & Technical Support
  • Account Management & Ease of Use
  • Server Configurations & Software
  • Plan Bonuses (ie, automated backups, etc)

Shared Hosting Providers

I’ve used quite a few Shared Hosting providers both for my own projects and for clients. Here’s the main 4 companies that I’ve used & really liked. I receive customer referral fees, but all the data & opinion is based on my professional experience.

Name Best if you want… Features!
InMotion …high-performance & independent-owned w/ great support. See Features.
HostGator …overall value w/ good pricing, support & unmetered features. See Features.
SiteGround …good support & advanced features w/ plans to grow. See Features.
Bluehost …name-brand hosting w/ good support, pricing & clean interface. See Features.

I also created a more in-depth best shared hosting guide with a quiz here.

Additionally, using a shared host will perform much better if you understand the basics of how servers & speed works. I wrote a Beginner’s Guide to Website Speed & Performance here.

The post What is Shared Hosting? appeared first on ShivarWeb.

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What is Cloud Hosting?

What is Cloud Hosting

Cloud Hosting is a hosting product that distributes your website data among an entire network of data centers with near infinite resources. Cloud hosting usually charge per use rather than per resource feature. Cloud hosting is provided by the big tech companies like Amazon, Google, Oracle, Microsoft and IBM – but is sometimes resold via traditional hosting brands who bundle customer support.

How Cloud Hosting Works

Usually website files live on a hosting server that is leased by a hosting company. A cloud is an entire network of data centers that host website files in a distributed & decentralized fashion. It gets way more technical than that – but basically it’s just raw server resources for rent based on use rather than renting a part of a server.

Imagine real-world housing for a second. Traditional hosting is like buying a house, townhouse or condominium. You buy it and you can do whatever you want. Cloud hosting is like having access to any house anywhere in the world whenever and wherever – you just have to pay per night for whatever house you use.

The actual cloud is built by the biggest tech companies in the world. There are not that many. Amazon is the biggest. They are closely followed by Google, Microsoft, Oracle, and IBM.

Cloud hosting as a product is also something sold by traditional hosting companies. They usually do not have their own clouds. Instead, they pre-purchase and bundle credits on a big tech cloud.

This product works because none of the big cloud providers give tech support – at all. None. Also, you never really know how much your bill will be. I’ve had a small site on Google’s cloud for over a year. I think it has cost a few dozen dollars – all covered by my sign up credit. But most sites with a few thousand visits per month can run between $10 and $40 per month depending on how big and complex their site is.

What Cloud Hosting Is Used For

Cloud Hosting is used for running websites that need varying resources and want unlimited performance. The only time your site will ever go down is if Google or Amazon go down. That happens – but it’s usually only for minutes and it makes international news.

If you know how many visits you receive, and how efficient your website is – then cloud hosting can be insanely cheap. You can host a site on the cloud directly for pennies. But if you have even a bit of traffic – then your costs will be in the ballpark of traditional hosting…with no real cap.

Moving to the cloud is usually done by website owners who know & find an advantage in managing their website’s performance. You can get very responsive and very reliable websites in the cloud. But there’s also a tradeoff with complexity, overall value, and cost.

I’ve had my most maddening consulting work on 100% cloud hosted websites (I’m looking at you Microsoft Azure) when the client absolutely did not need cloud hosting.

But cloud hosting will also serve a really useful complementary role – especially for storage or mirroring. Some hosts provide cloud credits for automated backups, media storage, and traffic spikes.

What To Look for in Cloud Hosting

Since you are paying for use, shopping for cloud hosting is different in many ways.

You are really looking for –

  • Cloud Setup
  • Customer Support (how much they’ll help with setup)
  • Prices per Projected Use
  • Plan Bonuses (ie, automated backups, etc)

Best Cloud Hosting Providers

I’ve used a few Cloud Hosting providers both for my own projects and for clients. Here’s the main 5 companies that I’ve used & really liked. I receive customer referral fees, but all the data & opinion is based on my professional experience.

Name Best if you want… Features!
SiteGround …great overall value, high resources w/ great customer support. See Features.
HostGator …unlimited bandwidth w/ affordable pricing tiers. See Features.
CloudWays …very high performance w/ great customer support. See Features.
Google …to run your site on the cloud that runs Google. See Features.
Digital Ocean …developer-focused platform w/ fast, global deployment. See Features.

Additionally, using a cloud hosting plan will not automatically solve your website speed issues. I wrote a Beginner’s Guide to Website Speed & Performance here.

The post What is Cloud Hosting? appeared first on ShivarWeb.

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What is Reseller Hosting?

What is Reseller Hosting

Reseller Hosting is a hosting product that dedicates specific server resources to an administrator who can create shared hosting accounts. Reseller Hosting is typically used as a stable, affordable product for freelancers & agencies to provide to clients. It allows agencies & freelancers to generate recurring revenue via hosting, maintenance & turn-key solutions while providing clients with world-class infrastructure & technical expertise.

How Reseller Hosting Works

Reseller Hosting is a variation of a shared, VPS or Dedicated Hosting plan where the customer has an administrator account to create new individual hosting accounts. It is literally reselling hosting to a 3rd party. A reseller account has specific server management software so that the administrator can dedicate specific resources to each account and bill them individually.

Imagine real-world housing for a second. Ok – imagine a house or condominium building that is leased to someone who sub-leases the rooms to individuals. Reseller hosting is like that. The individuals could buy their own condo or rent their own house. But if they simply don’t want to deal with leasing agreements or property management – and would rather deal with their friend, then it makes more sense to sub-lease.

That analogy makes Reseller Hosting sound informal and unprofessional. It’s not. It’s actually a very common service for freelancers & agencies who have clients who simply don’t want to even *hear* the words FTP or DNS. Clients get hands-off hosting. Resellers get recurring revenue and a long-term relationship. Hosting companies lease servers to someone who can pay, knows what they need, and will usually be around for a while.

Reseller Hosting can be part of a shared, VPS, dedicated or cloud server. It all depends on what the customer is using it for.

What Reseller Hosting Is Used For

Reseller Hosting is typically used for running known client websites at a predictable price. With a Reseller Hosting account, the customer will know what types of websites will be on the account, so they’ll be able to allocate exactly what each site needs. Ideally, the reseller will have strong influence over the websites on the account. They’ll be able to set the billing and manage the traffic & resource use.

If you know how many visits you receive, and how efficient your website is – then you can pay a locked-in price for those resources. And you can rebill clients for very high-value add.

For example, if an agency has 10 local business clients with only 500 visits per month each – then the agency could easily put them *all* on a $20/mo reseller account with a solid hosting company. The agency could charge $50/mo for hosting, light tech support & WordPress updates. That’s $480/mo profit for the agency. And also quite a deal for each client. You can see how this could scale – especially if you charge more, provide more value, or balance more websites on the account.

Reseller Hosting Differences

Reseller Hosting sort of exists separately from other hosting products. Here’s how it differs.

Reseller Hosting vs. Shared Hosting / VPS Hosting / Dedicated Hosting

Unlike other hosting products, Reseller Hosting accounts are built to resell part of your server’s resources in a dedicated account. You can have a Reseller Shared plan where you are reselling accounts on a shared server. You can have a Reseller VPS plan where you are reselling accounts on a dedicated allocation of a single server. And so on – the key is to know what kind of resources your business and your clients’ businesses need.

What To Look for in Reseller Hosting

Since you are paying for type of hosting product resources, shopping for Reseller Hosting is simpler than other products in many ways.

You are really looking for –

  • Server Resources (memory, bandwidth, processors, etc)
  • Server Management Support (how much they’ll help with setup)
  • Server, Website & Billing Software (WHMCS, domain resells, WHM, cPanel, etc)
  • Data Center Location & Security Setup
  • Plan Bonuses (ie, automated backups, white labeling, etc)

Reseller Hosting Providers

I’ve used quite a few hosting providers both for my own projects and for clients. Here’s the main 4 companies that I’ve used & really liked. I receive customer referral fees, but all the data & opinion is based on my professional experience.

Name Best if you want… Features!
InMotion …great overall value, bundled reseller features, solid support. See Features.
SiteGround …unique program setup w/ diverse international data centers. See Features.
HostGator …great pricing, solid bundled features and known brand. See Features.
NameCheap …cheap plans with low-commitment & UK data centers. See Features.

I also created a more in-depth best reseller hosting guide with a quiz here.

Additionally, using a reseller host will not automatically solve your clients’ website speed issues. I wrote a Beginner’s Guide to Website Speed & Performance here.

The post What is Reseller Hosting? appeared first on ShivarWeb.

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What is VPS Hosting?

What Is VPS Hosting

VPS Hosting is a hosting product that dedicates specific server resources to a hosting account. VPS Hosting is used as a predictable hosting solution for high traffic or resource websites.

How VPS Hosting Works

VPS stands for “virtual private server”. A VPS server is a server that runs “virtualization” software which divides & dedicates the hardware resources to specific accounts.

Imagine real-world housing for a second. A VPS is kind of like a row of townhouses. They look like one shared structure. But when you look at the blueprints, every single townhome is separated from the rest all the way to the ground. There is no “co-ownership” of anything even though it’s all a single structure.

A VPS server might be a single server located in a single rack – but it behaves like multiple servers since everything from the memory to storage space to processing power is already allocated.

What VPS Hosting Is Used For

VPS Hosting is used for running consistently higher-traffic or more resource intensive websites at a predictable price. With a VPS server – you know exactly how many resources you have, regardless of the other accounts on your server.

If you know how many visits you receive, and how efficient your website is – then you can pay a locked-in price for those resources.

Often I’ll see publishers switch to a VPS hosting plan around 25,000 to 30,000 visits per month (that’s when I upgraded). For an ecommerce site, I’ll often see the switch happening around 10,000 visits per month.

Now – both of those numbers are not benchmarks. Your numbers can vary wildly depending on the exact specifications of your website. It always pays to check your own memory, bandwidth, and CPU usage on your hosting account’s cPanel page.

VPS Hosting Differences

VPS Hosting exists on a spectrum of hosting products. Here’s how it differs.

VPS Hosting vs. Shared Hosting

VPS Hosting offers dedicated resources rather than shared resources. It’s kind of like a townhome vs. a condominium. They are both private property within a building. But – with a townhome, everything is allocated. With a condominium, a lot more is shared.

With shared hosting, you have to share all of a server’s resources with the other websites on your server. This means that you can usually get a much better price than VPS – and you can usually get the same performance since the hosting company will work to keep the server load balanced.

However, a VPS hosting plan will offer more control and more freedom.

VPS Hosting vs. Dedicated Hosting

VPS Hosting offers dedicated resources on a single server that is shared with other accounts. Dedicated hosting offers the entire server for your use. You are basically leasing a server with support & top tier connection to the Internet.

VPS Hosting vs. Cloud Hosting

VPS Hosting offers dedicated resources on a single server whereas Cloud Hosting decentralizes your website files & databases across thousands of servers everywhere. With VPS Hosting, you pay for specific resources. With Cloud Hosting, you pay for use – though there are plans that provide a certain number of uses for a stable price.

It’s kind of like purchasing a townhome vs. having some sort of AirBnB subscription where you can stay anywhere, anytime, as long as you pay.

With Cloud Hosting, you basically have unlimited resources – but you pay for each use. With VPS Hosting, you pay a stable price for stable resources. It’s like an a la carte all you can eat buffet vs. ordering an entree for a single price.

Confusingly, many hosting companies mix and match the advantages and disadvantages of each. A common combination is to use Cloud Hosting as backup for VPS Hosting.

What To Look for in VPS Hosting

Since you are paying for dedicated resources, shopping for VPS Hosting is simpler than Shared Hosting in many ways.

You are really looking for –

  • Server Resources (memory, bandwidth, processors, etc)
  • Server Management Support (how much they’ll help with setup)
  • Server Management Software (does it come with pre-installed graphical software)
  • Data Center Location & Bandwidth Provider
  • Plan Bonuses (ie, automated backups, etc)

VPS Hosting Providers

I’ve used quite a few VPS Hosting providers both for my own projects and for clients. Here’s the main 4 companies that I’ve used & really liked. I receive customer referral fees, but all the data & opinion is based on my professional experience.

Name Best if you want… Features!
InMotion …great overall value, high resources w/ great customer support. See Features.
DreamHost …unlimited bandwidth w/ affordable pricing tiers. See Features.
LiquidWeb …very high performance w/ great customer support. See Features.
Digital Ocean …developer-focused platform w/ fast, global deployment. See Features.

I also created a more in-depth best VPS hosting guide with a quiz here.

Additionally, using a VPS host will not automatically solve your website speed issues. I wrote a Beginner’s Guide to Website Speed & Performance here.

The post What is VPS Hosting? appeared first on ShivarWeb.

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10 Strategies To Improve Cash Flow

10 Strategies To Increase Cash Flow

If you’re reading this blog, then you already know how important cash flow is. Cash flow is the mainstay of your business. Positive cash flow means you can successfully run and grow your business, and negative cash flow — well, that’s bad news.

But what do you do when you have negative cash flow? How do you increase your positive cash flow and get your business where it needs to be?

Cash flow is affected not just by bringing in more cash inflows, but also by limiting your cash outflows. This means you have to manage your expenses just as much as your sales. Read on for ten practical tips to help you improve your cash flow and get your business on the right track.

1. Send Invoices Right Away

Sales and invoices are the lifeblood of a small business. You can’t get paid if you don’t send invoices. Simple as that.

Make sure you stay on top of invoicing your customers. The quicker you send invoices out, the faster the cash comes in. If your current invoicing process is tedious, consider switching to a cloud-based accounting software with attractive, easy to create invoices. Software like QuickBooks Online and Zoho Books both offer great invoicing capabilities which can help you speed up your invoicing process and increase your cash flow.

Our comprehensive accounting software reviews cover QuickBooks products, Xero, Freshbooks, Sage, and more of the top cloud-based and locally-installed accounting solutions on the market today. If you want a quick peek at the top contenders, check out our accounting software comparison chart.

Using an old version of QuickBooks Pro? Save $100 when you upgrade to QuickBooks Desktop 2018.

Purchase QuickBooks Desktop Pro 2018 Now

2. Get Customers To Pay Invoices On Time

Another key to increasing your cash flow is getting your customer to pay their invoices on time. We know this is easier said than done, but there are plenty of practical strategies to increase the likelihood of getting paid faster. Here are some of our top invoicing tips:

Follow Up With Invoice Reminders

Make sure you remind your customers when their invoices are due. Send email reminders a few days before the invoice is due, the day the invoice is due, and a few days after. If they still haven’t paid, give them a call and continue sending reminders. Many accounting programs have built-in invoice reminders that you can automatically send to late paying customers.

Give Your Customers Incentives

Consider offering a discount to customers who pay their invoices before a certain time. If your invoice terms are Net 30 (due 30 days after the invoice is sent), but you really want your customers to pay their invoices in the first week they receive the invoice, offer a small discount. Customers looking for a deal will be more likely to pay their invoices faster, which means you get cash faster.

Charge A Late Payment Penalty

Another key to successful invoicing is having a strong invoicing policy. Choose a consistent time when invoices are due (ex. due upon receipt, Net-15, Net-30, etc) and stick to it. Have a late payment penalty in place for customers who exceed the due date. Not only will this help increase your chances of getting your money, it will also set you apart as a professional.

When it comes to late payment penalties, be upfront about the penalty, when it will be charged, and how much will be charged. You can often include this in your terms and conditions section on your invoice. Do some research on what a normal late penalty policy looks like for your industry before implementing.

Consider Invoice Factoring

If the above strategies don’t work or you need cash right away, another option is invoice factoring. Invoicing factoring is the process of selling your unpaid invoices to a company in exchange for immediate cash. The factoring company takes a small cut of the money you earn, but the payoff is that you aren’t stuck waiting on customers.

Invoice factoring can be a great cash flow solution, as can invoice financing. Check out one of our favorite invoice factors, BlueVine, to learn more. Or take a look at Fundbox, an invoice financer, for an alternative solution.

3. Increase Prices

If you are hurting for cash flow, it may be time to consider increasing the prices for your products or services. Ask yourself:

  • What are my competitors charging?
  • Have the prices for equipment or inventory increased?
  • How much manpower does my inventory assembly or services require?
  • Do my prices outweigh the time put into my creating my products?
  • Are my prices too low? Do my products come off as cheap or valuable?

You want to strike a balance between keeping your prices competitive and fairly compensating the hard work you and your employees do. At the end of the day, you want to make sales, but you also want to make a profit. If your prices are too low, you may be selling yourself short. In some cases, lower prices can also make your company seem less qualified.

4. Expand Sales Market

Another solution to increasing positive cash flow is to brainstorm new sources of income. Get the dream team together, sit down with some coffee, and consider new ways to expand your sales market. Here are a few new sales possibilities to get the ideas rolling.

Add New Services Or Products

Think about the current items or services you offer and consider if there are other items or services you think would be a good addition to your business. Think outside of the box and consider alternate ways to earn income as well.

Maybe your coffee shop starts offering homemade lemonade for the summer; maybe your event planning service adds a cleaning service to maximize on business; maybe your office rents out its large outdoor space for parties and events on the weekends when it’s not in use. Whatever it is, get creative about new ways your business can generate income, which will in turn and increase cash flow.

Create A New Marketing Strategy

Maybe the products you offer are spot on, but your marketing could be expanded. Think of new ways to get the word out about your business. Consider if there are any other groups of people that could benefit from what your business offers. Bringing in more customers is a great way to bring in more cash flow.

Encourage Customers To Buy More

Another great way of improving cash flow is getting your existing customers to spend more. There are two great ways to do this:

  • Bundle Items: Sell similar items together to encourage increased spending.
  • Advertise Related Products: If you use an eCommerce platform, advertise additional products that the buyer “may be interested in” or that “others also purchased.”

Both of these can be great ways to expand your existing sales (rather than having to expand a whole sales market). If you want to start advertising related products or selling your products online, check out our top eCommerce recommendations.

Don’t Forget Your Loyal Customers

Another great way to expand your market is by letting happy customers do it for you. Encourage loyal customers by offering discounts to loyal customers or implementing rewards programs, like stamp cards, for multiple purchases. Also, consider implementing a referral program. This way you can encourage your loyal customers to grow your business for you through word of mouth.

5. Reevaluate Operating Expenses

Managing cash flow isn’t just about getting more cash to come into your business. It’s also important to reduce the cash going out of your business as much as possible. Here are five tips for reducing your business’s operating expenses, so you have more cash to spare.

Cut Out Unnecessary Expenses

Take a careful look at your cash flow statement and analyze your company’s business expenses. Ask yourself these two questions:

  • Are these expenses necessary?
  • If they are necessary, is there a cheaper alternative?

Carefully consider your current expenses. Cut out any that are unnecessary and try to minimize the necessary expenses as much as you can. It may seem difficult to do, but you (and your wallet) will feel much better knowing that you’re managing your cash flow and expenses effectively.

Streamline Your Business Processes

Another important aspect of managing your cash flow is making sure your business is running as efficiently as possible. Focus on cutting time, not just costs. Analyze all of your current business processes and judge how efficient the current process is, and if there’s any way to speed up that process.

Maybe that means implementing accounting software to send invoices faster or rethinking your employees’ inventory assembly process. By using time efficiently, you can get more done, spend less on wages, and avoid excessive overtime pay (which can put a huge dent in your business’s cash)

Purchase More Efficient Equipment

One way to increase your company’s speed and efficiency is to purchase better, updated technology and equipment. While it may cost a bit to purchase the equipment initially, you will save time which cuts back on wage expenses. This may also lead to increased production or the ability to take on extra projects, which leads to more incoming cash.

Looking for equipment financing? Check out our comparison of the top equipment financers for small business.

Ask Suppliers For Bulk Inventory Rates

Some vendors, especially those with whom you have a good relationship, may offer discounts for buying inventory in bulk. These can definitely be worth taking advantage of, so don’t be afraid to ask your suppliers if they have any deals.

Consider Leasing Equipment

If you don’t have the cash to flat out buy equipment or you don’t qualify for a working capital loan, it might be worth considering leasing equipment. You lose the advantage of having the equipment as a fixed asset for your business, but you gain lower monthly payments, which may be what you need to keep your cash flow in check.

6. Liquidate Old Inventory

Inventory is one of the largest business expenses you might encounter. You need inventory to make a profit, but you want to make sure the inventory you’re buying is actually selling. Carefully consider which products sell well and which you have a hard time turning over. Take a look at your sales patterns to see when your busy and non-busy sales times are and order inventory accordingly.

If you have any old inventory that you’re having a hard time getting rid of, consider liquidating the items. Any money coming in is better than no money.

7. Pay Vendors At The Right Time

Be strategic about when you pay your vendors. If your vendor offers a discount for paying early, be sure to pay in the time required time to save some money. If the vendor doesn’t offer a discount, pay when is most favorable for your business.

Say your bill is due on the June 1st. Your cash flow statement records show that May is a slow month for your business, but June has a history of higher sales. Pay your bill the last day it’s due so that you can report a positive cash flow for May.

If you need even more time to pay off bills, you can also consider paying with a business credit card. This way you can pay off the expenses over a period of time rather than all at once. Take a look at our business credit card reviews to find the right card for you.

8. Open A Business Savings Account

If you don’t have one already, open a business savings account where you can earn money on interest. This is a simple way to generate a bit of extra cash and it’s a smart way to ensure you always have a cash flow cushion for your business.

9. Consider A Cash-Back Business Credit Card

Using a cash back business credit card can be a strategic way to earn cash on your expenses. As long as you use the card wisely and can afford to make regular (if not full) payments each month, a cash back credit card is easy money. There are several great cash back rewards cards out there. Here are some of the best cash back business cards for small businesses.

10. Take Out A Small Business Loan

Another option to increase cash flow is to take out a short-term loan or line of credit. With a short-term loan, a lender gives you a lump sum of money that is paid back in regular installments over a short period of time. With a line of credit, a lender grants you a max borrowing amount that you draw from any time you need cash; payments are made only on the money used.

While the prospect of owing money may make you squeamish, there are several great reasons to take out a cash flow loan:

  • To expand your business
  • Purchase inventory
  • Take on a new, profitable project
  • Purchase new equipment
  • Unexpected expenses
  • To cover off-season slumps

If a loan sounds like a good cash flow solution for your business, check out our top small business lenders to find the right loan for you.

All of these tips can help you manage and increase your cash flow. Whether you decide to focus on increasing your sales, decreasing your expenses, gaining capital — or a mix of them all — you’re well on your way to increasing your cash flow and running a more successful business.

The post 10 Strategies To Improve Cash Flow appeared first on Merchant Maverick.

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The Best Credit Card Machines And Terminals

When you scan or insert your debit or credit card at the mall or your local convenience store, you probably don’t put a lot of thought into what type of machine is reading and processing your payment. And really, why should you? To consumers, they’re all pretty much the same (except for maybe those machines that angrily beep at you to remove your card. Why is that sound so aggressive?) That said, if you’re a retailer and you’re not paying attention to what type of credit card machine you’re using, it could cost you. An unreliable or even just a slow machine can impact your bottom line. It’s imperative to know what you want and need from a credit card machine when you’re purchasing your hardware.

Let’s start out by defining some terms. This post will specifically talk about credit card machines and terminals as opposed to credit card readers. A credit card machine is a device that connects directly to or is integrated with your point of sale system, whereas a reader is a smaller, mobile device that generally connects to phones and tablets and can be used with an app.

While many terminals look similar (big buttons, a place to slide or insert your card etc…) there are a number of other features you should be looking for when you make your purchase.

Credit Card Machine Features

First off, you’ll need to make sure your machine is compatible with your processor. Some companies sell hardware that can only be used with their own processing plans. However, there are many universal options available that will sync up with any processor and will give you more flexibility. Some credit card processors will charge reprogramming fees for hardware not purchased directly, so keep this in mind. 

Your level of connectivity is also crucial as any downtime or lag that impedes your ability to process payments is going to have a significantly negative impact on your business. Most newer machines have both a phone and an internet connection and many are now equipped with wireless capabilities in case your landline connection fails or you are in a place where only WiFi is available.

You’ll also want to assess the type of payments you’ll be accepting. In this day and age, you will almost certainly need to process debit card payments, in which case you’ll want a PIN pad (either separately or built-in) for customers to type in their number. Depending on your industry, you may also need a device that handles EBT (electronic benefits transfer). If you’re accepting checks, you’ll want a device that can process them electronically — the same goes for gift cards if that’s an option your business offers. A more modern way to accept payment, like a tap terminal that allows customers to pay via their phone with a service like Google Pay, may also be advisable.

If you’re buying a new machine or terminal, you’ll almost certainly want to make sure that your system can accept EMV chip cards. These cards are becoming the standard in the industry (as of 2015) for their superior level of security; any quality processing machine should be compliant at this point.

What Do Credit Card Terminals Cost?

Now let’s get into what everyone is really interested in: the cost. Credit card machines are generally a bit more expensive than your standard credit card readers which simply hook up to a phone or mobile device. But, with that added expense, you’re also getting added security. To put it in broad terms, machines can run from anywhere between $50 for a bare bones terminal that simply takes card payments, to upwards of $500 depending on what features you want or need.

Each added feature will typically send the price a little higher. If you want to be capable of accepting mobile payments, like Apple Pay or Google Pay, expect a slightly higher cost. If you need a built-in printer for receipts, expect to pay a little more. If wireless capability is a must, that will also result in a slightly higher cost alongside the expense of a data plan. However, many companies offer payment plans and, depending on what services you’re signing up for, some companies run promotions where you can get hardware thrown in for free or at a discount.

Credit Card Hardware Options

When you’re shopping around for a credit card machine, you won’t be hurting for options. However, there are a handful of companies that you will want to check out.

Ingenico and Verifone have long been the gold standard in the credit card terminal industry, and for good reason. They both offer a wide variety of products that are reliable, durable, and competitively priced.

  • Ingenico: Chances are good you’ve used multiple Ingenico products, perhaps in just the past week. It’s difficult to recommend a specific item as they range from very basic readers with built-in PIN pads to others that accept virtually all forms of payment and can print directly all from a device small enough to fit in your hand. Ingenico’s products thrive on their user-friendliness, from set-up to the customer experience, and they have a highly-rated customer service department. Ingenico is also an international company with products that can function all over the world.
  • Verifone: Verifone is equally user-friendly and has an exceptionally sleek and modern interface in many of its credit card machines. Like Ingenico, they offer a wide range of products from a fully integrated POS to mobile and desktop devices. Verifone prides itself on the speed of its transactions and its versatility. The VX520 has been one of its most popular models and should be able to handle most small business needs for under $300. Verifone packs a lot into its devices and they are highly durable and built to handle large numbers of transactions.
  • Pax: Another company to keep an eye on in the credit card terminal game is Pax. While not as ubiquitous as Ingenico or Verifone, Pax is a cost-effective solution with many of the same features. Pax’s products are brightly colored and aesthetically pleasing. The S80 CounterTop terminal has an inbuilt contactless processor and can handle multiple payment types. Pax’s products offer speed and strong memory capabilities while featuring state of the art security measures. They also offer a wide variety of PIN pad options.

A current trend in the world of processing is fully integrated systems. These systems are ultra-modern with the ability to accept nearly any form of payment. They can connect to existing hardware but they’re also on the more costly side.

  • Poynt: Poynt has become a major player in the past few years. It currently offers a two-screen desktop system and a mobile device that allows customers to make payments from anywhere in your store. Poynt accepts gift cards, EBT, and mobile payments — among others — and has features like signature encryption, EMV, and a receipt printer built in. The system is incredibly simple to use and lets the customer see exactly what is happening with his or her transaction.
  • Clover: A similar product to Poynt is Clover Station, which also features a dual screen model. Clover has been extremely popular since its release. With Clover, you are locked into First Data processing, a fact that is still holding Clover’s devices back in our ratings here at Merchant Maverick. However, there’s still a lot to like with this hardware. The ability to customize your experience with Clover is a huge benefit and Station comes with 20 preloaded apps. There is also fingerprint log-in for employees to increase security. Clover accepts EMV cards and comes with an optional NFC printer, 4 GBs of memory, and access to the Clover app store.
  • Square: One of the newest integrated processing products on the market is Square Register. Square’s reputation and popularity speaks for itself and this rollout doesn’t disappoint. With the same dual-screen format as Poynt and Clover, customers can make payments seamlessly with a recognizable and simple interface. Square offers a simple and consistent plan for processing fees and pairs with existing hardware in seconds. You can literally be up and running in a matter of minutes once you’re registered with Square and it comes with a two-year limited warranty.

It’s likely that you’ll find multiple credit card machines that can offer you the functions and features you’ll need to successfully run your business. That’s why it’s important to go with a trusted company and a product that’s proven to be reliable. Having a credit card machine that processes payments quickly and runs smoothly is one less thing a busy merchant needs to worry about.

Final Thoughts

Make sure that you’re always staying on top of current payment trends. Hardware companies constantly update to make sure that their clients always have access to the latest technology. New ways to give and accept payment are constantly hitting the marketplace, and whether it’s a new app for making payments or the ability to accept crypto-currency, credit card terminals are adapting quickly and many low-cost credit card readers are now on the market as well. Hopefully, this post has made your credit card processing hardware search just a little easier. 

Want more information? Read our Complete Guide To Credit Card Machines and Terminals.

The post The Best Credit Card Machines And Terminals appeared first on Merchant Maverick.

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15 Best Touchscreen POS Systems

touchscreen cash register

Touchscreens are everywhere, and the point-of-sale industry is no exception. Touchscreen POS systems are more intuitive and easy to learn than traditional legacy POS software, and many cloud-based systems employ the same kind of iPad and Android tablets that your employees already use every day at home. Whether you’re running a restaurant, a retail outlet, or another type of business, a modern touchscreen POS system helps keep your sales moving and your business data secure. Besides simple point-of-sale features, most of these cloud-based systems also have advanced reporting capabilities, business management features, and integrations with other popular business software.

Arguably, the only problem with touchscreen point of sale systems is that there are so many different products to choose from. Do you go with a proprietary-hardware solution like Clover, an Android POS system like Toast, an iPad POS like Revel, or an open-source POS like Vend? In my opinion, the most important consideration when choosing a touchscreen POS is not just iPad vs. Android. More important are your industry type, your specific business needs, and user reviews. To help you get started in your search, I’ve put together this list of my favorite highly rated touchscreen POS systems, sorted by industry. Most of these are iPad-based, though I included some Android and open-source options as well.

To make it easier to find the best touchscreen system for your business type, I’ve sorted the following 15 POS systems into restaurant, retail, and hybrid (systems that can be used for either restaurant or retail) categories. Be advised that the order in which I’m listing these excellent systems does not indicate their ranking.

Restaurant POS Systems

The following restaurant point of sale systems can be used by just about any type of food industry business, from drive-thrus to fine dining:

1. Breadcrumb

  • iPad POS for restaurants
  • Pricing starts $99/month/location
  • Must use with Upserve payments (interchange plus $0.15 fee)
  • Multi-location support
  • Online ordering

breadcrumb by upserve pos logo

Cloud-based Breadcrumb POS by Upserve (see our review) is a highly versatile restaurant POS, suitable for full-service restaurants, take-out, delivery, bars, and multi-location eateries. With Breadcrumb’s acquisition by Upserve in 2016 (Breadcrumb was previously owned by GroupOn), the company has expanded its restaurant management infrastructure, making this POS a complete business management system for just about any type of restaurant.

Breadcrumb is not the cheapest restaurant POS in town, but nor is it short on features. Some of the system’s strongest features include table management, employee management, customer management, and tableside ordering. Breadcrumb also recently teamed up with GrubHub to offer online ordering and delivery (at the $249/month/location “Pro” subscription level).

One thing Breadcrumb users really like about this system is that it is specifically designed with restaurant employees in mind. While we find Breadcrumb to be a very solid all-around POS/restaurant management system, a couple potential downsides are 1) you can’t use your own merchant account (you need to use Upserve Payments) and 2) there are occasional issues with outages. Learn more in our Breadcrumb by Upserve review.

2. Toast

  • Android POS for restaurants
  • Pricing starts at $79/month
  • Must use with Toast credit card processing
  • Multi-location support
  • Exceptional customer service

toast pos logo

Android-based Toast POS (see our review) is another robust, cloud-based POS system for restaurants. It can accommodate any size or type of restaurant, and features like tableside ordering, labor management, and inventory management make Toast a force to be reckoned with on both the front and back end. Toast is intuitive and easy to use for servers, while also providing detailed reporting, customer data, and menu options.

Although we love Toast’s strong feature set and the fact that it uses Android tablets instead of iPads (cheaper hardware costs, less of a theft risk), keep in mind that if you want every single feature Toast offers, it’s gonna cost ya. For example, online ordering, table management, delivery management, and gift card support all carry an extra monthly charge. You also can’t choose your own credit card processor to use with this POS and must use Toast’s in-house processor (which Toast users seem to like, at least). What really sets Toast apart from a lot of other cloud-based POS systems, however, is their excellent customer support – an indispensable quality in any POS, given the inherent complexity of a system that lets you take payments, process orders, and manage almost all aspects of your business.

3. TouchBistro

  • iPad POS for restaurants
  • Pricing starts at $69/month
  • Compatible with multiple payment gateways
  • Best for single-location businesses
  • Locally installed system (not cloud-based)

touchbistro POS

Elegant and easy to use, Ontario-based TouchBistro (see our review) has the distinction of being the top-grossing POS Application on Apple’s App Store in over 35 countries. TouchBistro is one of the few systems on our list that, while tablet-based, is not cloud-based; rather, your store data is stored locally on your restaurant’s iPad or Mac.

TouchBistro is not a full “restaurant management system” like Toast or Breadcrumb, but it’s good at what it does, and can readily handle the POS needs of just about any size/type of eatery, from a food truck to a full-service restaurant. Since TouchBistro stores data on local servers, it’s probably best for single-location restaurants (if coordinating data between locations is important to you). Keep in mind, though, that you will need an internet connection to process credit cards.

Some great features of TouchBistro include table management, menu management, kiosk option, tableside ordering, split-payment option, bar tabs, and sales reports. Customer service doesn’t seem to be as responsive as some users would like, though 24/7 support via phone and email is included in the standard cost. TouchBistro is compatible with Mercury, Cayan, Moneris, PayPal and several other gateways.

4. Lavu

  • iPad POS for restaurants
  • Pricing starts at $69/month with annual contract or $79/month without
  • Can use in-house payment processing or BridgePay, Heartland, PayPal, Nets, or Vantiv Integrated Payments
  • Multi-location support
  • Option to install in-house server backup in case you lose your wireless connection

lavu pos logo

Lavu (see our review) is yet another highly popular iPad POS system for restaurants, used in more than 20,000 restaurant terminals across 88 countries.

Lavu is not the most advanced restaurant POS there is, but it is equipped to handle the needs of most small-to-medium restaurants (or cafes, bars, coffee stands, etc.). Some features that make this POS system a hit include its customizable table layout and menus, easy employee management, advanced menu management, and useful integrations. Lavu also has renowned customer service, which is included in the standard monthly fee. You can add both a loyalty program and gift cards onto your subscription for just $40 a month.

Customers have complained about occasional glitches with the Lavu software, but the company releases frequent updates to solve any bugs or complaints. Affordable and highly customizable, Lavu is a strong and growing contender in tablet POS systems for restaurants.

Retail POS Systems

The following POS systems are suitable for retail store establishments, such as clothing boutiques, toy stores, electronics shops, and many others.

5. Lightspeed Retail

  • iPad and web browser POS for retail
  • Pricing starts at $99/month (billed annually)
  • Integrates with Vantiv Integrated Payments (Mercury), Cayan, and izettle
  • Multi-location support
  • Bike rental store add-on

lightspeed retail pos logo

Lightspeed Retail (see our review) is one of the most fully featured tablet POS systems out there for retail. While Lightspeed can support up to enterprise-level size businesses, this cloud-based system is ideal for small and medium-sized businesses that want powerful functionality — think unlimited inventory, integrated eCommerce, work order management, and customer relationship management. Lightspeed Retail also makes it easy to transfer inventory between different store locations.

Lightspeed is among the pricier systems on this list, and various integrations to extend its functionality, such as eCommerce, can make it even more expensive. So, it’s not going to be the right POS every business. But if you want a super robust POS that you can operate from any desktop browser (meaning, you don’t have to buy expensive iPad registers), Lightspeed Retail might just be right for you. The POS is especially suited for apparel businesses but can accommodate virtually any type of retail setup, including rentals.

Note that there are several Lightspeed products in addition to Lightspeed Retail. These include Lightspeed Onsite, Lightspeed Restaurant, and Lightspeed eCommerce.

6. Vend

  • iPad and web browser POS for retail
  • Pricing starts at $69/month
  • Compatible with Vantiv, PayPal, and Square
  • Multi-store support
  • Apple Pay-capable

vend pos logo

Vend (see our review) was actually the very first web browser-based POS system when it was introduced back in 2010. Today, it is still a big force to be reckoned with in the retail POS world, used by more than 20,000 businesses in 100 countries.

Cloud-based and scaleable for retail stores both small and large, Vend uses an HTML5 browser (such as Google Chrome), or an HTML5 iPad app, for all operations. If the internet goes down, Vend can keep operating locally using the cache and will sync back up with the cloud once the connection resumes. Being browser-based means you can run Vend on a PC, Mac, or iPad. Some features on Vend we really like include customer management, eCommerce, built-in loyalty program, inventory management, and a good selection of third-party software integrations. Vend doesn’t have as much functionality as a POS like Lightspeed or Revel – for example, Vend doesn’t have item modifiers – but it is cost-effective and a good choice for a store (or even chain of stores) that doesn’t need every single “business management” feature out there.

Note that Vend’s email support is free, but 24/7 phone support costs an extra $19 per month, unless you have the multi outlet subscription ($199/month billed annually).

7. Shopify POS

  • iPad POS system for retail (Also supports mobile sales on iPhone and Android phones)
  • Pricing starts at $9/month for mobile and Facebook sales, or $54/month to also include Retail Package for in-store sales
  • Integrates with Shopify Payments and many outside processors
  • Multi-store support
  • Instant syncing with your Shopify online store

shopify pos logo

Shopify (see our review) started as an online shopping cart for businesses who wanted an easy way to sell their products online. Eventually, Shopify extended their offering to include a POS system for in-person sales. As you might expect, Shopify POS does a great job integrating online and offline sales for retail businesses that also do eCommerce with Shopify.

Shopify’s pricing structure is a little convoluted, but the most important thing to know is that if you have a brick-and-mortar store, you’ll need to purchase the Retail Package, which costs $45/month on top of whatever other package you select — the $9/month Shopify Lite plan, the $29/month Shopify Basic plan, or another higher-tier plan. The Basic plan plus the Retail Package will cost $74/month and provide pretty much everything most retailers need for both online and in-store sales. You also have the option to get better credit card processing rates at higher price tiers.

Most Shopify POS features are comparable with other top iPad retail solutions, and they have strong customer service too. The thing that really sets Shopify apart is their seamless online/offline sales integration. So, if you already use Shopify for online sales or would like to, this might be the right POS for you.

8. Quetzal

  • iPad POS for independent fashion retailers
  • Pricing starts at $75/month per location
  • Integrates with Evo Payments International, Velocity, CardSmith, National Discount Merchant Services, Vantiv, and Moneris
  • Multi-store support (max. 10 locations)
  • Clothing/shoe matrix

With its exclusive focus on fashion retailers, Quetzal (see our review) is an iPad POS that’s tailor-made (ha-ha) for stores that sell clothing, shoes, and/or accessories. This aesthetically appealing system has a streamlined iOS aesthetic; the interface seriously looks like it could have been designed by Apple itself, and Quetzal even has an iTunes app that lets managers check in on their store from their Apple Watch. Quetzal also uses a compact, sleek register, Star Micronics’ mPOP system.

Of course, functionality is more important than aesthetics when it comes to a POS, but Quetzal doesn’t come up short in terms of function either. We like the clothing/shoe matrix, in-depth sales reports, “tag cloud,” loyalty program, employee leaderboard, and “sales thermometer,” in particular. At only $75/location price is right as well, especially as there is no charge for additional users or terminals. A couple downsides are that after setup and installation, customer support costs extra, and also there is no QuickBooks integration.

While it doesn’t have a huge marketshare of the overall retail POS segment, Quetzal’s niche focus makes it a functional, affordable, and visually appealing choice for emerging independent clothing brands.

Hybrid POS Systems

These POS systems are flexible in that they are equally suited to retail and restaurant environments. Service-based industries such as beauty salons, rental businesses, and hospitality businesses also often use hybrid POS systems.

9. Shopkeep

  • iPad POS for retail and quick serve restaurants
  • $69/month/register ($29/month/register for fourth register and beyond)
  • Integrates with Shopkeep Payments and outside processors
  • Multi-store support
  • Matrix inventory feature

shopkeep pos logo

Shopkeep (see our review) is an affordable and enjoyable-to-use POS system that runs locally from an iPad and syncs data back to the cloud. Shopkeep is used in both retail and restaurant environments, and while it’s more feature-rich on the retail side of things, it will more than meet the needs of most quick-service/coffee carts/food truck businesses.

Some things about Shopkeep we especially like include its comprehensive register functionality, in-depth reporting suite, mobile app to view your business stats on the go, and unlimited inventory matrix (which includes raw goods management). Shopkeep also offers unlimited 24/7 customer support (though premium phone costs an additional $30 per month). This POS integrates with MailChimp for email marketing, QuickBooks for accounting, and BigCommerce for eCommerce.

Shopkeep is a wise choice for a small-to-medium retail business or restaurant that doesn’t need extensive restaurant-centric features like table management. Note that ShopKeep is currently only available on iPad but is in the works to make its service available on the Clover Station via a recent partnership with First Data.

10. Revel Systems

  • iPad POS for retail, restaurants, hospitality, and more
  • Supports numerous payment processors
  • Custom pricing based on industry and individual business needs
  • Multi-store support
  • Ethernet internet connection

revel systems logo

Revel Systems (see our review) is arguably the holy grail of iPad POS systems. Revel is powerful enough that franchises like Cinnabon use it, and flexible enough that it can support businesses in virtually any industry, from brewpubs to gas stations. It’s also the only iPad POS system that offers a “wired” ethernet connection for a faster an more reliable internet.

Revel POS pricing is determined by which industry-specific package you choose, but depending on your needs, you can expect to pay about $80 to $200/month per location. Myriad add-on applications and integrations extend Revel’s functionality to make it do just about anything you can imagine, though this naturally increases the system’s cost as well. Some of Revel’s more impressive features include its kiosk mode, digital menu board, and ability to accept mobile payments (including ApplePay, PayPal, Bitcoin, and others). Because Revel is so powerful and customizable, initial system setup can take a while.

Revel can manage multiple locations and up to 500,000 SKUs. It is optimized for mid-sized businesses, particularly busy quick-serve restaurants that can afford one of the best iPad POS’s money can buy.

11. ERPLY

  • Web browser/iPad/Android/Windows POS for retail and restaurants
  • Pricing starts at $200/month/location
  • Compatible with all big-name payment processors, (though currently promoting PayPal as a preferred processor)
  • Multi-store support
  • Strong inventory features

erply-logo

ERPLY (see our review) originated in 2009 as a retail POS system, though it has eventually expanded support to food service too, now offering food-centric features such as kitchen printing and sell by weight. Whether you run a retail business or restaurant, ERPLY is especially powerful in the inventory management department, with functions like automated ordering, supplier management, and multichannel (online, in-store, phone, email) inventory tracking and transfers.

ERPLY gives you a lot of flexibility as a business owner. Using just about any payment processor under the sun, you can accept traditional swipe, chip card, and mobile payments, including Apple Pay, PayPal, and Android Pay. You also have the option to use pretty much whatever device you want, even without a reliable internet connection, or run ERPLY right from your browser.

It’s actually kind of hard to come up with a feature ERPLY doesn’t have. An open API architecture allows customizability and the ability to develop your own software integrations and customize it to meet your needs (or, have ERPLY make these integrations/customizations for you). Being such a versatile piece of software, it’s one of the pricier cloud-based POS systems. If you have a larger or franchise business, or you just want the flexibility and horsepower this system offers, you might try ERPLY out for size.

12. talech

  • iPad POS for retail and restaurants
  • Standard subscription is $62/month/location (billed annually upfront)
  • Compatible with multiple payment processors
  • Multi-store support
  • Kiosk mode

talech POS logo

talech (see our review) is a smaller player in the iPad POS world, but with their affordable price point and impressive set of more than 100 features, they can certainly give their larger competitors a run for their money. talech is used by both retail and restaurant businesses, but restaurants, in particular, will find a lot of useful features, including table management, coursing, and the ability to split the check by table positioning (seat).

Advanced inventory management, self-service (kiosk) mode, and the ability to generate purchase orders are some more features that set talech apart from some of its competitors in both the retail and restaurant spheres. talech also made it possible for restaurant owners to integrate an online ordering system so that you can manage in-person and online orders all from your iPad POS terminal.

One caveat: being 100% cloud-based, talech is unable to take credit card payments in the event of a WiFi outage, and you also won’t be able to access your back office. However, it’s possible to circumvent such issues by getting a specialized backup router.

13. Bindo

  • iPad POS for retail and restaurants
  • Custom pricing depends on industry and number of SKUs
  • Works with nearly any payment processor
  • Multi-location support
  • “Favorites” grid displays most popular items as register buttons

Bindo POS logo

Bindo (see our review) is a hybrid POS whose varied and easy-to-use features make it suitable for retail or restaurant environments. A reasonable pricetag, clean interface, robust eCommerce storefront, and thoughtful inventory reporting suite make this an especially versatile touchscreen POS option. While fewer than 5,000 businesses use new-ish POS, customer support (included at all price levels) is responsive to these customers’ needs and tech support (also included) issues frequent updates to fix any software glitches.

As with most other fully cloud-based systems, you’ll need fast internet to experience the best functionality. More than one customer has also complained about being stuck in a leasing contract with Bindo for equipment they were not satisfied with (though in general, we do not recommend leasing POS equipment). Since Bindo works with most standard iPad POS equipment and offers a 14-day free trial, it is likely that you’ll be able to test out Bindo using your current equipment before you commit to purchasing.

14. SalesVu

  • iPad POS for restaurant and retail
  • Basic restaurant and retail packages start at $75/month
  • Works with Vantiv, Evo, and WorldPay
  • Multi-location support
  • Allows items to be charged by decimal and fractional quantities

SalesVu (see our review) is another affordable and feature-rich iPad POS system that can be used in many industries, including service industries and traditional retail and restaurant environments. Since this system allows you to ring up transactions in fractional amounts, it’s especially useful for hourly professionals such as therapists or dog walkers, and businesses that sell items based on weight, like fro-yo shops. SalesVu also has an appointment booking system that health, beauty, and hospitality businesses will appreciate. Like the majority of touchscreen POS’s on this list, SalesVu is best suited for smaller to medium-sized businesses, though it has the capacity to scale up if you open a second or third location.

SalesVu runs locally on iPad registers and syncs all your data to your account in the cloud. Though you can use the SalesVu POS app without an internet connection, you’ll need internet to process credit card transactions; however, you can use a specialized router with a 4G wireless modem with a data plan so that you can switch to 4G without any interruption if your main internet connection goes down.

Another cool thing about SalesVu is that it will run on an iPhone, allowing you to take mobile sales on the go. The basic mobile POS app without any frills is free, similar to Square. Which brings us to the final favorite touchscreen POS on our list …

15. Square Register

  • Proprietary POS hardware with free cloud software for retail, restaurants, service industry
  • Hardware costs $49/month for 24 months or $999 one-time payment
  • In-house credit card processing is 2.5% + $0.10/transaction or lower for high-volume businesses
  • Multi-location support
  • Best for businesses with average transaction of $40 or higher
  • Ethernet support for more reliable internet connection

While Square‘s popular free POS mobile app has been around for some time, the Square Register is a relatively new product, released in October 2017. There are still no monthly service fees, but rather than selling on your smartphone or iPad, you’re ringing up sales on fully featured POS hardware that you purchase as a complete package from Square. With a concept similar to that of Clover Station (which I didn’t include on this list because it is locked into First Data’s less than stellar payment processing), the Square Register is sleek, proprietary POS hardware that works right out of the box, complete with a customer facing screen and built-in credit card terminal. The Square Register hardware itself costs $49/month for 24 months, or you can simply purchase the system outright for $999.

Note that Square Register users have a different credit card processing rate than the standard Square mobile processing rate. With Square Register, businesses are charged 2.5% + $0.10 on every transaction, vs. 2.75% (+ $0.00) with regular Square. This pricing setup may at first blush look like Square Register has cheaper rates, but if you have a lot of small transactions you’ll actually pay more with Square Register than with the Square mobile POS. For this reason, Square Register is a more appropriate solution for larger businesses with average ticket sizes of $40 or higher. Larger businesses processing more than $250,000 per year and with an average ticket size of $15 or higher may also qualify for lower rates.

As for the specific business type, 100% cloud-based Square can work with just about any industry. Square has a built-in 24/7 online booking system for service-based industries, as well as restaurant-centric features such as suggested tipping amounts and online food orders.

Finally, Square Register is not to be confused with Square’s iPad-only, $60/month solution, Square for Retail (see our review).

Final Thoughts

When sorting through your options for touchscreen POS systems, the plethora of choices may at first seem overwhelming. But that’s why we’re here to help you sort out the stinkers and lead you to the very best tablet point of sale systems. And really, you can’t go wrong with any of the POS software systems on this list. Just check that the touchscreen POS system you’re considering meets your business’s needs in terms of functionality and budget, and test it out with a free trial before purchasing. And of course, don’t forget to check user reviews and complaints on the BBB and other consumer review sites. If you need further help choosing a touchscreen POS system, please contact me in the comments section and I’ll give you some further guidance.

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