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You may not know what a PoS system is. But each time you do a transaction 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 shop. Along with processing retail sales, it can handle inventory, staff members, customer loyalty programs, and process administrative, management, and marketing activities.
PoS stands for Point of Sale, in which the sales occur when the customers exchange money for services and products. But thesedays, you can find portable PoS systems too. Mobile PoS systems may operate on a variety of devices from desktops, tablets to laptops and mobile phones, making any region of the shop a point of sale. The software features of a PoS system can vary depending on the intricacy of every system.
PoS Terminals
PoS It is, in a sense, a cash register with special powers. These electronic cash registers have touch screens instead of the old style cash register’s buttons. Along with recording transactions and printing receipts, it can do a lot more with the applications integrated to the terminal. You can link many devices like credit card readers, barcode scanners, and cash drawers into the PoS terminal via Bluetooth or USB.
Bar Code Scanner
The retailers with huge inventory 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 merchants are encouraged to buy 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 utilize them to process credit card payments. These card readers can 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, many companies still need a cash register to support the customers who pay in cash. You are able to link PoS compatible electronic cash drawer into a PoS terminal. These electronic cash drawers are available in several 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. Since there is no third party involved, this guarantees secure credit card payments.
Inventory Management
Sellers can easily keep track of their stock and maintain it with the support of this attribute. With real time stock monitoring, the retailers may organize, classify the purchases. At any given time, they can check the status of the inventories with a PoS system.
Report Generation
The pre-programmed reports offer a vast selection of reports from sales, stock, employees. Retailers may have a realistic idea about the stocks, performance of the store, employees, and high-volume sales periods to make the company more efficient and generate 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 the PoS system. The front-end staff, back-office staff, and the management will have custom permission. In this way the administration may control the features and information available for your staff members. Additionally, this feature can schedule work shifts, monitor working hours. In addition, it can assess the performance of the employees, depending on their respective work performance.
A PoS system can make a significant change in how you run your retail store. You can make educated choices and grow your company in the coming years.
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