Point Of Sale
POS system
A point-of-sale system allows customers to pay for goods and services. It’s used to process sales transactions, record and track inventory, manage employees, and keep your business in fighting shape. A POS system can help you streamline processes and collect data that provides valuable insight so you can make informed business decisions. Getting a complete POS system typically includes a combination of hardware components, software applications, installation, and employee training. Since you stand to gain so much from a POS system, it’s important to understand which system and features will work best for you.
A retail point of sale system typically includes a cash register (which in recent times comprises a computer, monitor, cash drawer, receipt printer, customer display and a barcode scanner) and the majority of retail POS systems also include a debit/credit card reader.
Electronic point-of-sale (EPOS)
EPOS systems stand out through their automatic inventory updates. If you don’t have time to manually update your inventory, drop the basic POS system for an EPOS system.
Here are some other ways EPOS software can save you time:
1. Minimizes human error
2. Automatically applies discounts and promotional pricing to ensure consistent product pricing
3. Eliminates manual price checks
4.Tracks employee performance and activities to determine top performers
5. Simplifies time management by automatically recording employee schedules and work hours
6.Automatically syncs business reports and data in real time
7. Adjusts stock levels when items are sold
A point-of-sale system can benefit your small business in a number of ways:
1. Saves time by streamlining operations
2. Increases productivity and reduces costs
3. Provides detailed sales reporting and data analytics
4. Reduces human error and increases accuracy
5. Maximizes return on investment (ROI)
6. Improves the overall customer experience