One of the focal points of any retail or hospitality business is the cash register. The ability to process transactions and tender cash are essential to the efficient operation of the enterprise. If you have a lot of cash transactions, replacing the cash registers with a Point-Of-Sale (POS) system save you money. A POS system is computer software and hardware networked together to track sales and inventory as they occur. POS systems will solve a multitude of problems in your business.
Since implementation of a POS system is requires a large investment in time and money, the selection of software and hardware requires careful research into the features available and associated costs.
POS or PoS is an abbreviation for Point of Sale (or Point-of-Sale, or Point of Service). The term is applicable to a retail shop or store, the checkout/cashier counter in the store, or a location where such transactions can occur in this type of environment. It can also apply to the actual Point of Sale (POS) Hardware & Software including but not limited to: electronic cash register systems, touch-screen display, barcode scanners, receipt printers, scales and pole displays. Point of Sale Systems are utilized in many different industries, ranging from restaurants, hotels & hospitality businesses, nail/beauty salons, casinos, stadiums, and let's not forget - the retail environments. In the most basic sense, if something can be exchanged for monetary value - a Point of Sale System can be used and also needed.
Traditional computerized point of sale, which began in the 1970's and came of age in the 90's, uses a stationary computer with POS software installed, and peripherals such a bar code scanner and receipt printer. Networking makes it possible for traditional POS to be used with multiple stations and multiple stores, syncing information across various locations making it easier to keep track of sales and inventory. Components of a traditional POS system include:
A computer (the main component of a traditional POS system).
Peripherals. This term refers to hardware devices that you add to the computer system.
Some peripherals help you use the computer itself (such as a mouse or keyboard).
Some peripherals are more specific to POS; they enable you to perform a sales transaction (cash drawers, bar code readers, receipt printers, credit card readers, pin pads, touch screens, etc.)
General computer software, primarily, an Operating System (OS), such as Windows, Mac, or Linux, which makes it possible for people to use and interact with the computer.
POS software helps you to manage your business and perform sales transactions. It automatically collects and stores data about customers, sales, and inventory, and can use that data to create reports for taxes, sales analysis, etc. The software is the most critical part of the POS system.
Some of the advantages of using a POS system to track and manage your business: