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You may not know exactly what a PoS system is. But each time you do a trade at a retailer, you interact with a PoS system without knowing it. 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 can handle stock, staff members, customer loyalty programs, and process administrative, management, and advertising activities.
PoS stands for Point of Sale, in which the transactions happen when the clients exchange cash for products and services. But nowadays, there are mobile PoS systems also. Mobile PoS systems can run on a variety of devices from desktops, tablets to laptops and cellular phones, converting any region of the shop a point of sale. The most frequent physical elements (hardware) of a PoS system consists of a PoS terminal, barcode scanner, electronic scale, PoS printer, credit card reader, and cash drawer. The software characteristics of a PoS system may vary based on the complexity of each system. Payment processing, stock management, report creation, and staff management are the principal features of a PoS system.
PoS Terminals
PoS This type of electronic cash registers are equipped with 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 software integrated into the terminal. You may link many devices like barcode scanners, credit card readers, and cash drawers to the PoS terminal via USB or Bluetooth.
Bar Code Scanner
The retailers with huge inventory use barcodes to speed up their inventory management and checkout processes. A barcode scanner is an optional device which you can connect to the PoS terminal. Most merchants don’t hesitate to invest in them as it helps for a swift check out process.
Credit Card Reader
Sometimes this is called a credit card terminal as well, and retailers use them to process credit card payments. These card readers can read the magstripe by swiping the card and reading the chip in the card. The most modern units can accept NFC (near-field communication) payments from cellular payment providers such as ApplePay, GooglePay, etc..
Cash Drawer
Even Though most clients prefer to pay with credit/debit cards, many businesses still need a cash register to support the customers who pay in cash. These electronic cash drawers come in several sizes to assist 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 keep track of the inventory and maintain it with the help of this attribute. With real-time stock tracking, the retailers can organize, classify the purchases. At any particular time, they can check the status of their inventories with a PoS system.
Report Generation
The pre-programmed reports supply a vast selection of reports from earnings, inventory, employees. Retailers can have a realistic idea about the shares, functionality of the store, employees, and high-volume sales periods to make the company 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 unique levels of access into this PoS system. The front-end personnel, back-office staff, and the administraion will have custom permission. In this way the management can control the features and information available for the employees. Also, this attribute can schedule work shifts, track working hours. In addition, it can evaluate 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 store. You can make educated decisions and grow your company in the coming years.
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