A business lives or dies by its point of sale system. Without a working POS system, businesses can’t receive payments – which means that every second of POS downtime costs money. Studies show that a single hour of POS system downtime could cost over $300,000.

You and your business need a plan to avoid the impact of any POS hardware failure. With the support of an advanced exchange depot, you could be guaranteed replacement hardware within 24 hours of getting in touch. It’s a way to protect yourself from the immense financial losses you could face in the event of a hardware fault.

Still not convinced? Keep reading, and we’ll tell you everything you need to know about the benefits of an advanced exchange depot.

What Can Go Wrong With Your POS?

Your point of sale system is business-critical – so it might surprise you to learn how many things can go wrong with it.

POS systems offer a tempting target to cyber-attackers. From the hardware to the system endpoints that host your business’s transaction data, there are plenty of potential vulnerabilities that bad actors can exploit. What’s more, many older systems are not properly encrypted, which means that their security is weak.

If you work with an irresponsible or underprepared POS provider, your system could face issues ranging from cyber-attacks to simple connectivity problems. It’s always a good idea to minimize the risk to your systems by vetting your POS provider before you commit to a deal. Make sure that their service level agreement meets the standards you need, and don’t be afraid to ask questions if you aren’t sure about their provision.

But one of the most common problems businesses face with their POS systems is related to hardware. There is no way around it: point of sale hardware faces a huge amount of daily wear and tear. It also depreciates with age, which means that the longer you use it, the more likely it is to suffer a breakage or fault.

Broken POS hardware doesn’t always need to be thrown out – sometimes it’s possible to repair it. But repairs can take time that your business may not be able to afford. It’s crucial to have a backup plan in case of hardware failure.

What Is an Advanced Exchange Depot?

An advanced exchange depot is the ultimate solution to your hardware replacement needs. For a monthly or annual fee, business owners can enjoy the peace of mind that comes with a guaranteed hardware replacement service.

Most advanced exchange depots will ship out a replacement product as soon as they receive a request. They usually guarantee that your new product will reach you within 24 hours. Many even offer same day service, ensuring that your business receives the replacement it needs as soon as possible.

Your replacement will usually arrive with a shipping label, so you can package up and return your defective hardware for free. In some cases, you can even place a call to have your broken hardware collected for delivery! You don’t need to go anywhere – you can concentrate on the important work of running your business.

Once the exchange depot receives your broken hardware, they will repair and restock it. This helps to reduce waste, ensuring that your business stays committed to environmental responsibility.

Why Do You Need Advanced Exchange Depot Services?

Even if you take every step to give your retail store hardware the longest possible service life, you will probably find yourself in need of a replacement eventually. Here are just a few reasons to take that prospect seriously and plan for the day when your hardware lets you down.

Be Prepared

In the fast-paced world of business, it’s important to manage the levels of risk that you face. That means staying aware of things that could potentially go wrong. More importantly, it means having a plan in place to manage those problems if they arise.

It’s easy to feel blindsided by a POS failure. It represents a threat to your business continuity and a potential blow to that all-important bottom line. And it’s never a good feeling to turn away customers – and sales – because of a disaster outside your control.

But when you work with an advanced exchange depot, you know what to do when catastrophe strikes. There’s a number you can call, and a guarantee of support at the other end. You’ll be dealing with people who understand the importance of getting your business back on its feet, and who will go the extra mile to give you the service you need.

That peace of mind is worth its weight in gold.

Save Time

When dealing with a POS hardware failure, you can’t afford to waste a single second. Time lost is money lost, which means it’s vital to get new equipment delivered and installed as fast as possible.

When you have a strategy to replace your broken hardware, you can be assured of a certain level of service. You don’t have to waste time troubleshooting a machine, scrambling to find a tech support company, or struggling to install and configure a new device. You may not even have to wait long for your replacement to arrive, as many exchange depots offer same day service.

All you have to do is place a call, and your replacement hardware could be delivered, installed, and set up before you know it. If you’ve ever had to organize a hardware replacement without that support in place, you’ll understand what a difference it can make to your business’s recovery.

The retail and hospitality industries are both still recovering from the impact of the pandemic. That means that every minute of system uptime counts. Planning ahead can give you an all-important advantage.

Safeguard Your Budget

Paying for a hardware replacement agreement might seem like a pointless up-front expense. In fact, it’s an investment in the integrity of your business. That extra spending can protect you from fiscal uncertainty further down the line.

When you have a hardware replacement strategy, you eliminate the need to budget for unpredictable repair and replacement costs in the future. Without the safety net of a strategy, you could end up paying over the odds to maximize your uptime. Planning ahead means you can account for these expenses early on, without the risk of overspending later.

It also means that hardware failures won’t impact your customers’ experience of your business. Customers value convenience, and if they can’t buy what they need from you, they are likely to look for it elsewhere. By reducing your equipment downtime, you limit the risk of your loyal customers straying to the competition.

An advanced exchange depot offers multi-faceted financial protection for your business. It’s an up-front purchase you can’t afford not to make.

Like-for-Like Hardware Replacements

Training your staff to use your POS system can take up valuable time. When a hardware component breaks, you may find yourself concerned about retraining your team. What if the new hardware you receive is unfamiliar enough to hurt their productivity?

Another common worry when replacing broken hardware is compatibility. Will your replacement product work with your existing system? And will it work right away, eliminating the need for a lengthy configuration process?

Most advanced exchange depots will take your existing hardware setup into account. Because they repair and restock old equipment, it’s often easier than you think to find the perfect match for your system. And if an exact match is impossible to find, the depot will work with you to find a solution that can be configured to suit your needs.

Advanced exchange depots understand the importance of a swift recovery from POS downtime. They prioritize ‘plug and play’ solutions, so you can bypass the work of configuring a complex new device. And they focus on delivering a product you’re familiar with, so you can keep the time and effort involved in retraining your staff to a minimum.

Stay On Top of Your Hardware Needs

With the right preparation, you and your business can face any challenge with confidence. ResourcePOS understands that for high-traffic businesses like retail stores and restaurants, it’s vital to have a plan in place to limit the consequences of downtime.

Our advanced exchange depot is committed to supporting your business in its hour of need. For a low monthly fee, we promise to deliver the products you need within 24 hours. And we make it easy for you to offload the hardware you no longer need.

Get in touch today, and let’s make a plan to protect your business.