POS and its main features
Nowadays almost every retailer knows what POS is. First of all, POS stands for Point of Sale System. It is the key element of any business because here customers pay for different products/services which are purchased from a certain company. It combines some components of both software and hardware. That’s why merchants have an opportunity to make transactions and other business operations in a simpler way.
Software and Hardware Components
The first method which a POS System uses is on-premise. Being a traditional software model, it allows users to buy one or more licenses in advance for the software and then install it on their computer systems. But here it is important to highlight that users themselves will be responsible for updating and maintenance of the software.
The second software deployment method is called cloud-based or Software-as-a-Service POS solutions. It lies in accessing and supporting the system through the Internet. But even if your Internet connection is poor most systems will track sales. When you will be back online it will synchronize them.
The most important hardware components in order to support POS software are:
– register screen (a common monitor that demonstrates the product database, shows sales reports, and enables some other functions, like employee clock-in);
– barcode scanner (deals with automating the checkout process);
– credit card reader (it is both secure and EMV-compliant, that`s why is necessary for every retailer);
– receipt printer (allows you to print different paper receipts as well as employee sales totals and hours);
– cash drawer (a secure place where you can store cash for transactions).
Why should you choose it?
There are a lot of benefits which everyone can get while using the POS System. In general, they are:
– simplifying main business operations;
– flexibility if you process your daily transactions;
– recording and analyzing data which is connected with sales;
– improving customer management with the help of marketing tools;
– managing the number of stock in order to determine the main details about reordering products;
– making better employee management by providing clock-in and clock-out tools, schedule and payrolls.
So you can see that POS System can be really useful for every business and can help to solve many problems.