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You may not know exactly what a PoS system is. But each A PoS system is a mix of hardware and software that efficiently runs and manages a retail shop. In addition to processing retail sales, it may handle inventory, employees, customer loyalty programs, and process management, administrative, and marketing activities.
PoS stands for Point of Sale, in which the sales happen when the customers exchange money for products and services. But nowadays, there are mobile PoS systems too. Mobile PoS systems may operate on a variety of devices from desktops, tablets to laptops and mobile phones, converting any region of the shop a point of sale. The software features of a PoS system can differ depending upon the complexity of every system.
PoS Terminals
PoS Terminal is the device where the software is executed. This type of electronic cash registers have touch screens in place of the old style cash register’s buttons. In addition to recording transactions and issuing receipts, it can do far more with the software incorporated into the terminal.
Bar Code Scanner
The retailers with huge inventory use barcodes to accelerate their inventory management and checkout processes. A barcode scanner is an optional device which you can connect to the PoS terminal. Most retailers are encouraged to invest in them as it helps for a quick check out process.
Credit Card Reader
Sometimes this is called a credit card terminal also, and retailers use them to process credit card payments. These card readers may read that the magstripe by swiping the card and scanning the chip in the card. The latest units can accept NFC (near-field communicating ) payments from mobile payment providers such as ApplePay, GooglePay, etc..
Cash Drawer
Even Though most clients prefer to pay with credit/debit cards, most companies still require a cash register to support the customers who pay in cash. These electronic cash drawers are available in many sizes to help companies of various scales.
Integrated Payment Processing
PoS System can directly connect to the relevant banks and process the card payments in-house. As there is no third party involved, this guarantees secure credit card payments.
Inventory Management
Sellers can easily keep track of their inventory and maintain it with the support of this feature. With real-time stock monitoring, the retailers may organize, classify the purchases. At any given time, they can check the status of their inventories using a PoS system.
Report Generation
The preset reports supply a vast selection of reports from earnings, stock, workers. Retailers may have a realistic idea about the stocks, functionality of the store, employees, and high-volume sales periods to make the business more efficient and generate additional profits. Almost all 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 levels of accessibility into the PoS system. The front-end staff, back-office staff, and the administraion will have custom permission. That way, the management can control the qualities and information available for your staff members. Also, this feature can program work shifts, track working hours. In addition, it can assess the performance of the employees, depending on their respective job performance.
A PoS system can make a significant change in how you run your retail store. You can make informed choices and grow your business in the coming years.
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