Point of sale (POS) is a computer system in a retail shop or restaurant that record sale transactions once the customer (buyer) buy a product or services in the shop and make payment to the shop (seller). The client usually receives a receipt from the Point of sale system. It’s normally mission-critical IT systems to ensure the sales operations can execute easily.
There are 2 components of the POS solutions, hardware and applications. The hardware which typically comprise a CPU/tablet, a track, a receipt printer and a cash drawer; and the applications program which permit the cashier to socialize and record the transaction details into CPU/tablet and command other peripherals, such as printer to print the receipt and cash drawer to pop up for deposit the cash.
Any companies that involve of selling merchandise or services may benefit from a POS System to handle the administrative, control the stock, speed up the calculation for your transaction and keep track of transaction record for reference at any time.
Don’t confuse POS Systems from cash register (also called a”until”) which only used by company to record amount and amount. The cash register is also lacking storage to document the history of sales transactions or the capacity to keep track of inventory amount.
The Various Sort of POS?
Stand ePOS system
It was a fantastic choice for single shop mom-and-pop company with easy and direct selling model that doesn’t mean to expand to multi-outlet shop. Stand-alone ePOS provide necessary tools for business to keep track of stock and deduct when selling to the client. There are lots of standalone ePOS solutions in the marketplace to select from and usually very affordable. Some contemporary POS is also free to use which provide a small business alternative to get to more powerful solutions with very low to zero cost.
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Advanced ePOS system
Some company doing better and intend to put up more sockets. The Advanced ePOS can give an interconnected solution across all of the branches and gather sales transaction data from each of the branches into the centre server. Advanced ePOS can be costly because of the demands of hardware parts and a dedicated network link. It’s generally a choice for larger corporations that has broad geographical coverage and complex business logic.
Cloud based POS
Vend is a modern cloud based POS
Since the start of cloud computing in 2000, it has radically changed how business work. The maturity of cloud computing technologies opens a new chance for the solution provider to provide cheaper, and more innovative POS solutions like cloud-based POS. Cloud-based POS leverage on the world wide web to distribute the software without needing to modify the present hardware, and it’s mostly hardware agnostic in layout. The majority of the cloud-based POS required persistent online connection but some innovative cloud-based POS layout to operate offline and online.
Eats365 iPad POS layout for F&B company
With the introduction of the first iPad on April 3, 2010, together with AppStore, the groundbreaking invention revolutionise how we interact and the way that business operate. It enables the developer to construct iPad POS and ready to release to anywhere on earth, with the support of AppStore. IPad POS greatly boost a few aspects that business will appreciate, such as security, reliability, connectivity and reliability that’s a paradigm change for company to compete in solutions offering, analytics rather than simply pricing.
Why do I want a POS?
Deter pilfering of dishonest staff
The first Point of sale system was implemented in 1800 to avoid stealing. It’s still the reason that company needs it to reduce staff from stealing. POS machine assist business owner to keep an eye on sales entry and stock and the enforcement of change report will reinforce the check and balance that make it a lot harder to steal.
Choosing the perfect POS solution can enable you to increase productivity significantly. POS systems can automate repetitive task much faster with greater accuracy. By way of instance, when a customer returns a product they buy before, POS software can help you subtract the sales revenue and boost the inventory quantity immediately rather than doing manual reconciliation on both revenue and stock.
Or when your client place order for a fish and chips meal, the order get to publish to the kitchen immediately rather than server running back and forth to communicate with the kitchen when handling customer. There are more benefits a POS System can provide, than the simple example described previously.
Expand selling stations
Unlike the past, if you’ve got a retail store or restaurant, selling inside the restaurant shortly become unsustainable due cost growth and other mass-market approach kinds of competition. The retailer is expanding the selling channel through eCommerce or Marketplace, consignment or B2B, while restaurant reaching out to meals delivery, BYOD or self-service kiosk so that patron has to obtain the restaurant and placing an order via their cell phone.
A POS system helping business to mined years of information and the nature of POS System that could capture transaction in an extremely granular level. These data are very useful and can be interpreted to use analytics reports that assist the business to learn about customer taste, and strategies to concentrate on what’s profitable and what’s not.