Should I add the old data to my new POS? This is rather a common question among merchants purchasing new POS systems. Well, adding old data to the new system means that you can easily access such data which ensures continuity. Every merchant loves continuity. On the other hand, adding the old data to a new system also comes with a host of risk and challenges.
So, to determine whether or not it makes sense to add your old data to the new system, you need to first consider if you really need the data in question and the cost of entering the data in the new system.
As we all know, customer data is characterized by its fluidity – an aspect that allows it to change with the ticking of a clock. Every new day, every second, your customers are getting new phones, changing phone numbers, moving homes, buying new cars, and so much more. Moreover, you get new customers all the time. With this in mind, does it even make sense to add old records to a new POS system?
Typically, it takes between six and twelve months to enter old records in a new POS system. That is even before you run the system. In other words, you may be spending between six months and a whole year just preparing to start using the new system. Honestly, a one-year delay is enough to cost the business millions. Because people are always on the move, such delays could be catastrophic. Statistics from national home ownership agencies show that the average American moves every 4.5 years. If you spend 12 months adding old data to the new system, by the time you finish, at least 22.5% of the information would be wrong. If you add to that the number of consumers who will have changed phone numbers, email addresses, etc. within that period, you may be talking about huge discrepancies.
You should also consider your industry and the type of business you run. If you run a high risk business, then maybe you should start by getting a high risk merchant account. Additionally, consider whether you need to track customers and whether the customers are comfortable with being tracked.
In summary, you need to carefully assess the situation when making a decision. While having the old records in your new POS system can be advantageous to some extent, think about the potential drawbacks as well.