Point of Sale systems have become a regular part of your shopping experience these days. Every retail shop has its own customized POS systems set up to make things easier for their customer as well as for keeping an eye on the sales made and the other details as well. The POS System for retail these days include many functions like keeping track of the available stock as well as the fast moving products, estimating customer loyalty, etc.
The term “point of sales” refers to the exact point at which the customers pay for the products or services that they have selected to purchase. These transactions are usually carried out using several interconnected components.
POS systems are made up of both, hardware and software components. Let’s take an in-depth look at the different components that make up these two distinctive parts of the POS:
The Hardware Components Of POS system:
Point of Sale systems used in retail outlets will differ according to the scope of operations of each outlet as well as its size. As the requirements differ, not all the hardware components mentioned here will be used at every retail shop.
Usually, retail shops utilizing POS systems will require:
These workstations will meet all the cash register requirements at small retail shops as they are expandable and flexible. They are also quite easy to install and use, enabling a far better, and easier, training of the staff.
Scanners are often used at shops to enter data quickly and more accurately. The POS systems, which makes use of barcode scanners, will increase the speed at which regular tasks at retail shops, like the checkout processes, are completed, and the staff will be able to keep a close track of the inventory.
The majority of the customers today prefer to make their payments using cashless methods, as it is a more convenient than walking around carrying cash all day long. This makes it absolutely important for any shop or retail outlet looking to become successful to have a card reading machine as an integral part of their point of sale system. These magnetic strip card readers are able to read different kind of cards like credit cards, debit cards, and so on. These devices come with a PIN pad so that the customers can enter their secret PIN number to carry out the transaction successfully.
After the successful transaction, it is necessary to print out the bill as well as the cash receipt. Usually, two copies of the cash receipts are printed out if the customer paid via a cashless method. One receipt is the store’s copy and the other one is handed over to the customer. This printed bill or receipt is necessary in case the customer wishes to exchange any goods and it is in keeping with the store’s policy.
The Software Component Of POS System:
Several IT firms are in the business of developing customized Point of Sale software to suit the unique requirement of each business. So, if you are in the retail business, the features to be included in the POS will be same, barring a few. POS software connects together all the hardware components of the POS system so that the user can enter details and extract information at the same time, very easily.
A web based integrated solution for retail which makes every operation associated with a retail business into a simple one. The main solutions offered are Inventory Management, Order Management, CRM, Accounting for Financial purposes, SMS & Email integration, Easy reporting, etc.
The cloud based retail solution that is specifically designed for companies having their retail businesses spread across different geographic locations. This magic tool helps you in all the aspects of the business including order management, warehouse management making your business operation easy to monitor from anywhere around the globe.
If you have more than a single branch, the software can be configured to upload the information and data to the cloud, making it easily accessible from all the other branches and thus synchronizing your entire business operations.
POS software must be obtained from vendors who have considerable levels of experience in the field of business software development. Moreover, each and every aspect of the business, with regards to stock, sales, customers, etc. must be duly considered before the POS software is developed.
Adopt POS system for your retail business, and enjoy smooth and hassle-free business transactions!