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Home 2018-03-15T03:07:26+00:00

WHAT IS POINT OF SALES (POS) SYSTEM: THE ULTIMATE GUIDE

POINT OF SALE REFERS TO AN AREA OF THE SHOP WHERE BUYERS CAN PAY FOR THEIR PURCHASES. POINT OF SALES OR POS SYSTEM RECORDS THE FINANCIAL TRANSACTION! READ THE ARTICLE AND DISCOVER MORE!

In this article, we are going to talk about what is Point of Sales (POS) system, its most important features, and the benefits of owning one!

WHAT IS POINT OF SALES (POS)?

Point of sale refers to an area of the shop where buyers can pay for their purchases. It is a location where financial transactions occur. The POS system is the main component of their business. It is a combination of hardware and software that allows sellers to complete financial transactions and simplify the daily business operations. Point of Sales systems are used in various business industries, from hotels and hospitality businesses to restaurants, casinos, beauty salons, stadiums, retail stores, and much more. In other words, if something can be exchanged for money – the POS system can definitely be used.

FEATURES OF POS SYSTEM

There are hardware and software components of POS system. Before we discuss its features, it is important to understand the hardware and software options available and what each of them requires.
>>REGISTER SCREEN – This is a standard monitor that showcase the product database. It allows other functions such as viewing sales reports and employee clock-in.
>>BARCODE SCANNER – This component automates and simplifies the checkout process. It is used for scanning barcodes and product info and adds this information to the checkout total. When scanned, barcodes automatically integrate with inventory management system and adjust stock levels.
>>CREDIT CARD READER – Another essential hardware component. EMV-compliant credit card readers are crucial for retailers since October 2015.
>>RECEIPT PRINTER – Text and email receipts are gaining attention and popularity, however paper receipts are still essential for providing buyers with a snapshot of what they actually bought. If you want, you can print employee sales totals and other information.
>>CASH DRAWER – You know what they say – cash is the kind. You need a secure place to store all of your cash. As you probably know, there is no credit card fee for accepting cash.
point of sale systems for small business

SOFTWARE COMPONENTS

When it comes to software components, there are two software deployment methods. There is an on-premise method which is a tradition software model which you can install on your computer system or server, You are responsible for maintaining the software and updating it. The other option is cloud-based or also known as Software-as-a-Service POS solution. You can use and access the system via the internet.

BENEFITS OF HAVING A POS SYSTEM

There are a lot of benefits related to the POS system. Modern Point of Sales systems do more than simplifying the buying process. They also improve the chances of success for your retail store by proving you with tools to simplify and improve daily transactions and business processes at the same time. Many of these essential processes would be impossible to complete without the professional support of POS systems.
In order to take a full advantage of the benefits of owning a POS system, you need to get a POS software with these POS software features included:
>> Customer Management
>> Inventory Management
>> Employee Management
>> Sales Reporting
We know that implementing a new technology can be complicated, however, the POS system is the main systems of every business and it could help your business grow faster.
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