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You might not know exactly what a PoS system would be. But each time you do a trade at a retailer, you interact with a PoS system without knowing it. A PoS system is a combination of hardware and software that efficiently runs and manages a retail store. In addition to processing retail transactions, it can manage inventory, employees, customer loyalty programs, and process management, administrative, and advertising activities.
PoS stands for Point of Sale, where the sales happen when the clients exchange money for products and services. But nowadays, there are mobile PoS systems too. Mobile PoS systems may run on a range of devices from desktops, tablets to laptops and mobile phones, making any part of the store a point of sale. The software characteristics of a PoS system may vary based on the complexity of each system.
PoS Terminals
PoS Terminal is the unit where the software is run. This type of electronic cash registers have touch screens instead of the old style cash register’s buttons. In addition to recording transactions and printing receipts, it can do a lot more with the applications incorporated to the terminal. You may link many devices such as barcode scanners, credit card readers, and cash drawers to the PoS terminal through USB or Bluetooth.
Bar Code Scanner
The retailers with massive stock use barcodes to accelerate their inventory management and checkout processes. A barcode scanner is an optional unit that you are able to connect 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 called a credit card terminal also, and sellers utilize them to process credit card payments. These card readers can read that the magstripe by swiping the card and reading the chip in the card. The most modern units 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 businesses still need a cash register to support the customers who pay in cash. You are able to connect PoS compatible electronic cash drawer to a PoS terminal. These electronic cash drawers come in many sizes to assist companies of different scales.
Integrated Payment Processing
PoS System can directly link to the applicable 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 help of this attribute. With real time stock monitoring, the retailers may organize, classify the purchases. At any given time, they can assess the status of the inventories using a PoS system.
Report Generation
The preset reports supply a wide range of reports from sales, stock, workers. Retailers can have a realistic idea about the stocks, functionality of the store, employees, and high-volume sales periods to make the business more efficient and create more profits. Most shops have PoS printers connected to their PoS systems, which makes it convenient to print the reports used to scrutinize sales progress.
Staff Management
It enables to set different levels of access into this PoS system. The front-end personnel, back-office employees, and the administraion will have custom access. In this way the management may control the features and data available for the staff members. Additionally, this attribute can program work shifts, monitor working hours. In addition, it can assess the performance of the employees, based on their individual job performance.
A PoS system can make a significant change in the way you operate your retail business. You can make educated choices and grow your company year after year.
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