Have you ever thought when you place an order; it reaches in time at your doorstep, after shopping it becomes very easy to pay without worrying to having cash? And after all, when you order next time, they also suggest or recommend such services or stuffs in which you may be interested. When we think about this, we definitely say “Amazing”, “What a marvellous service they give”. How such things happen in time? All these services become possible through modern technology which is commonly known as POS system.
POS stands for Point Of Sale.
It is the platform where customers pay for their goods and services bought from the company.
In Yamarie Grullon, manager of content strategy at POS provider Shopkeep, words “A point of sale system is a combination of software and hardware that allows merchants to take transactions and simplify key day to day business operations.”
Read about Convenience Store POS System at this blog.
Nowadays, to grow business with cost effective and to keep an eye of P’s &Q’s of our running business is very important. This system allows us to track our sales and inventory as they occur. It helps us to analyse our day to day sales and to take right business decision.
POS system is very popular and widely used in almost every sector especially in Retail Industry and Hospitality Industry.
Components of POS system
As we know that POS system is the combination of Software and Hardware. Here we are discussing both of the components:
Software Components- In POS system, there are two most common software deployments methods.
- On-Premise: This is a traditional software deployment method and used in larger organization with dedicated IT professionals. It is very costly.
- Cloud-Based: It is a modern technology based on internet access. It is also known as SaaS (Software-as-a-Service) POS solutions. It is very cost effective and can be accessed the system via internet.
Some of the most popular cloud based software are – Vend, ShopKeep, NetSuite, Lightspeed Retail, Nobly POS, Epos Now, AmberPos, Revel Systems, AIMsi, Springboard Retail, COMCASH Retail, Cumulus Retail, Bindo POS, Rain POS, Phorest Salon, Startus Retail, ACE Retail, mPower Beverage for Liquor Stores, Instore, NCR Counterpoint, GiftLogic , Booker.
Hardware Components- In POS system, the following hardware components are used: Register Screen (Standard Monitor), Barcode scanner, Credit card reader, Receipt printer, Cash drawer.
Benefits of POS systems
Retailers or businessmen get benefits with the help of automation of POS systems these days. They can easily track their daily transactions with inventory. It helps them to take a right business decision. In respect of today’s business completion, it is necessary to track every aspects of the business and POS system helps in it. So it is very helpful to any business; however it is important to understand what capabilities or features to be checked before purchasing POS systems.
Know more about liquor store POS.
The following are the must have features you should check before purchasing POS systems:
- Sales Reporting,
- Customer Management,
- Inventory Management and
- Employee Management.
As well ask some meaningful questions from vendors before purchasing:
Does POS system functionality suit your business needs?
What is the cost of software?
Is there only an option to sign a contract?
Are there any hidden charges?
Is there any hardware proprietary?
What are the facilities and services vendors offer?
And the last one, you must have to know what is your must have and must not have list?
All the above questions help you to buy your business centric POS system to grow your business drastically.