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You might not know what a PoS system is. But each time you make a trade at a seller, you interact with a PoS system without knowing it. A PoS system is a combination of software and hardware that runs and manages a retail store. In addition to processing retail sales, it may handle inventory, staff members, customer loyalty programs, and process administrative, management, and advertising activities.
PoS stands for Point of Sale, in which the sales occur when the clients exchange money for products and services. But thesedays, there are portable PoS systems also. Mobile PoS systems may operate on a range of devices from desktops, tablets to laptops and cellular phones, making any part of the shop a point of sale. The software characteristics of a PoS system may vary depending upon the intricacy of each system. Payment processing, inventory management, report generation, and staff management are the principal features of a PoS system.
PoS Terminals
PoS It’s, in a sense, a cash register with special powers. This type of electronic cash registers are equipped with touch screens in place of the old style cash register’s buttons. Along with recording transactions and printing receipts, it can do far more with the applications incorporated into the terminal. You may link many devices like barcode scanners, credit card readers, and cash drawers into the PoS terminal through USB or Bluetooth.
Bar Code Scanner
The retailers with massive stock use barcodes to accelerate their stock management and checkout processes. A barcode scanner is an optional device which you can link to the PoS terminal. Most retailers are encouraged to buy them as it helps for a quick check out process.
Credit Card Reader
Sometimes this is referred to as a credit card terminal as well, and sellers use them to process credit card payments. The latest devices can accept NFC (near-field communicating ) payments from mobile payment providers such as ApplePay, GooglePay, etc..
Cash Drawer
Even Though most customers prefer to pay with credit/debit cards, most companies still need a cash register to support the customers who pay in cash. These electronic cash drawers are available in several sizes to assist businesses of different scales.
Integrated Payment Processing
PoS System can directly connect to the applicable banks and process the card payments in-house. Since there is no third party involved, this guarantees secure credit card payments.
Inventory Management
Retailers can keep track of the stock and maintain it with the help of this feature. With real-time inventory monitoring, the merchants may organize, classify the purchases. At any particular time, they could assess the status of their inventories with a PoS system.
Report Generation
The pre-programmed reports offer a wide range of reports from earnings, stock, workers. Retailers can have a realistic idea about the stocks, functionality of the shop, employees, and high-volume sales periods to make the business more efficient and create additional profits. Most retailers have PoS printers linked to their PoS systems, which makes it convenient to print the reports which are helpful to analyze sales progress.
Staff Management
It enables to set unique degrees of access into this PoS system. The front-end staff, back-office employees, and the administraion will have custom access. That way, the management may control the features and information available for your employees. Also, this attribute can schedule work shifts, monitor working hours. In addition, it can assess the performance of the employees, based on their respective job performance.
A PoS system can make a significant change in the way you run your retail business. You can make informed choices and grow your business year after year.
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