Technology has replaced numerous activities making them smooth and easy. One such replacement in recent times has been the POS or Point of Sale system in the retail sector. What are its features that make it such a fascinating system to use! The POS is also used in view that it is one of the easiest and secured way of transaction. Retailers can also track their sales in real time from any part of the globe. POS has given a new edge to Internet of Things specifically to the commercial sector.
POS System Defined
In general terms, a POS assists in billing and payments through various modes. It is generally used in goods and service department which deals with customers directly. The utility of a POS system is not limited to retail outlets as it can be used in ecommerce business dealings as well. One of the best features of a POS software is that it can be installed in supportive devices as well that include smartphones, tablet, desktop, POS hardware and handheld POS devices. Booking a table in a restaurant, placing orders and paying bills is some work that can be done using a POS system.
Different POS Systems Presently Available
Keeping in mind many different commercial sectors, respective POS systems have been built to answer every requirement. The best part still remains the same which is it can be used by a small business organisation and even the big ones without any discrimination. Given are some of the POS systems presently used to address individual sectors.
Retail POS: Retail is a vast sector and includes different kinds of specifications. Hence, the POS presently utilised in this sector is in a continuous process of evolution. Customisation is another feature that is widely available in retail POS. Some features included in retail POS are billing through various payment modes, inventory management, maintaining a customer database, check purchase orders and differentiating between various properties.
SMME POS: If you are happy using your smartphone, then you should definitely opt for SMME POS that are lighter in build, easy to use and affordable in all respect. For small businesses, this is definitely the best idea. You need some sort of customisation and pay for the software, you can go away with an additional device.
Restaurant POS: For restaurant billing, something else is also required. These POSs need to transact different kinds of payment modes like cash and cards. Requirement of adding other features like evaluating sales on a daily basis that is sectioned into a specific time and type can be there. The restaurant type POS also has to deal in bar payments that means it should be prepared to process different forms of cards like credit and debit cards, pre-authorisation of payments and dispatching KOT for the bar and kitchen.
Spa POS: Apart from different forms of payment processing, a POS installed in a spa requires some other features as well as managing customer database and update it regularly. The system should also be able to remind for appointments on a calendar basis.
Cloud POS: This is Internet of Things era and so everything is expected to be attached to a cloud system that can be accessed from anywhere and through any device. With this facility, there is no need to store data on servers and can be accessed directly from the cloud.
Key Features of the POS System
Given are some key features of a POS that are integrated into every system disbursed in the market.
This is the initial feature for which a POS is installed in a market place. Billing has never been easy as it can be prepared through scanning of a barcode and process payment through different modes. Invoice building, giving discounts, entering customer details and entering sales representative’s names are features that are the basics. One can also include any additional remarks if necessary.
Manual monitoring of sales is laborious and lengthy work. Through POS, getting the sales report is easy and accurate. The reports are available on a timely basis as well to check the prime time for the customers. Learning about the average shelf life of a product is also viable through POS.
A store should be well-informed about the stocks available to save on time and energy. Through POS managing stock is easy as a real time list is maintained that doesn’t require day end manual accounting. You will get to know the incoming and outgoing stocks when billed. The shop will also be alerted when there is a low stock before it is sold out. The distributor can also be alerted for fresh stock automatically through the POS system.
To attract more customers and retain the existing ones, stores give out rewards as a part of loyalty and executive programmes intermittently. Sorting of loyal customers becomes easy when a POS is given access to the customer database and their purchase history.
A Good Relationship with Customers
The most important part of any store is to retain customers, get the feedback and attract more customers. Customised experience is essential for every customer to make them feel special. A POS system enables personalised shopping experience to a customer and this is what makes it invincible.
With technology fast replacing the conventional world, the shopping experience has changed comparatively. Cash transactions are being taken cared for by electronic payments and giving out discounts to requisite customers are correct. A POS system has changed the way a retail shop works. Opt for a POS system and be benefitted with the list of features available.