Map of Victoria
You might not know exactly what a PoS system is. But each A PoS system is a combination of software and hardware that efficiently runs and manages a retail store. In addition to processing retail sales, it may manage stock, staff members, customer loyalty programs, and process administrative, management, and marketing activities.
PoS stands for Point of Sale, where the sales occur when the customers exchange cash for products and services. But nowadays, you can find mobile PoS systems too. Mobile PoS systems may operate on a range of devices from desktops, tablets to laptops and mobile phones, converting any part of the shop a point of sale. The most common physical elements (hardware) of a PoS system is made up of PoS terminal, barcode scanner, electronic scale, PoS printer, credit card reader, and cash drawer. The software features of a PoS system can vary depending upon the complexity of each system.
PoS Terminals
PoS Terminal is the unit where the software is executed. It is, in a way, a cash register with special powers. This type of electronic cash registers have touch screens in place of the old style cash register’s buttons. In addition to recording sales and issuing receipts, it can do far more with the software incorporated into the terminal. You can connect many devices such as barcode scanners, credit card readers, and cash drawers to the PoS terminal via Bluetooth or USB.
Bar Code Scanner
The retailers with massive stock use barcodes to accelerate their stock management and checkout processes. A barcode scanner is an optional unit which you can link 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 utilize them to process credit card payments. The latest devices can accept NFC (near-field communicating ) payments from cellular payment providers like ApplePay, GooglePay, etc..
Cash Drawer
Even Though most clients prefer to pay with credit/debit cards, most businesses still need a cash register to support the consumers who pay in cash. You are able to connect PoS compatible electronic cash drawer into a PoS terminal. These electronic cash drawers are available in several sizes to help businesses of different scales.
Integrated Payment Processing
PoS System can directly connect to the relevant banks and process the card payments in-house. As there’s absolutely no third party involved, this guarantees secure credit card payments.
Inventory Management
Retailers can keep track of their inventory and maintain it with the help of this attribute. With real-time stock monitoring, the merchants may organize, categorize the purchases. At any given time, they could check the status of the inventories using a PoS system.
Report Generation
The pre-programmed reports offer a wide range of reports from earnings, inventory, employees. Retailers can have a realistic idea about the shares, functionality of the store, staff, and high-volume sales periods to make the business more efficient and generate more profits. Almost all shops have PoS printers linked to their PoS systems, which makes it convenient to print the reports used to analyze sales progress.
Staff Management
It enables to set different degrees of access into the PoS system. The front-end staff, back-office staff, and the management will have custom access. That way, the management can control the qualities and information available for your staff members. Additionally, this feature can schedule work shifts, monitor working hours. In addition, it may assess the performance of the staff members, based 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 year after year.
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