Entrepreneurs, whose company involves payment receiving from many customers, must master such equipment as POS systems. Its terminal (Point of sale) is a set of computers and cash registers controlled by special POS software. Performing the functions of cash registers, POS-terminals are much more efficient. The purpose of their creation was to automate the cashier’s workplace to speed up customer service and the employee’s convenience. From great options for hotel payment processing to the best cash register programs for a clothing store, what else should you know about the POS system so you can choose the right one for your business?
How Much in Demand is POS Systems in Business
POS-terminal (POS-system) includes everything necessary for the most rapid implementation of settlements with customers. The equipment consists of a fiscal recorder, linked to a computer unit with a monitor and a keyboard, and equipped with a separate screen for customers, a scanner for codes, and a terminal for reading payment cards.
The POS system uses ECLZ (Electronic Check Ribbon Protected), as in the other kinds of cash control equipment. The difference is that POS terminals are registered with the tax inspectorate as a single complex, so you need to notify any change to the employees of the fiscal authority.
It is impossible to imagine any supermarket or store with a comprehensive assortment list without a POS system. It allows customers to promptly serve a large flow of customers, avoiding errors, because it is more functional and easy to use than a standard cash register. The main advantage of the POS terminals can be their complex integration with a CRM system via special software.
Due to the integration of all terminals into a single whole, POS system development in a real-time mode provides information on completed sales, received cash, and returns from the workplace of each cashier to the central office, which allows observing precisely. Therefore, the situation is relevant at the moment.
The latest information entered into the CRM system is immediately available to any employee. You can update it regarding the start of promotions or changes in the assortment.
The place of application of POS systems is trading and other areas, which require the organization of commodity accounting. For example, it can become indispensable in a warehouse. Moreover, integration into CRM makes stock-taking easier and minimizes the probability of shortage or surplus because stock information is always up-to-date and trustworthy.
Each POS system includes several components that perform program startup, barcode recognition, storage of received funds, and receipt printing. When choosing, it is necessary to consider the specifics of the trade and the tasks that the terminal will perform, but you can’t do without the essential components.
What POS software is Necessary for the POS System?
The cashier workplace consists of a set of listed components that function smoothly due to the specialized software.
The cash register program, without exaggeration, can be called the brain of the entire POS system for the store. The task that faces the technical specialist is to select the POS software that meets your enterprise’s requirements. There are usually several versions of each software — basic, corporate, and professional. Their features and capabilities characterize them.
When choosing a suitable version of the POS software, it is best to rely on a specialist’s opinion. Still, it is helpful to know that the standard cash operations are included in the list of functions performed by all programs. Differences consist of additional options designed for enterprises of a particular specialization. If you own a clothing outlet, you will not use those functions explicitly designed for beauty salons. However, there are several areas that you may need as you expand your firm. If you provide for their presence in the software, you will be able to later:
- Generate reports. You will be able to collect data, estimate turnovers and sales dynamics. This option provides the primary reporting forms, and some can be adapted to the specifics of your business to get an up-to-date picture of your activity.
- Manage inventory. You will be able to have accurate information about stock levels so that you can replenish the range of goods in time. In this way, you will avoid forced downtime due to a shortage of necessary resources and achieve a flawless reputation.
- Make automatic purchases. This option derives from the previous one. Modern “smart” programs allow you to form an order based on the number of goods in stock. If the POS software is linked to the accounting database, payment orders will even be generated.
- Evaluate relationships with customers. Sales growth is the primary goal. Properly selected software will simplify the work with discount systems, including adapting individual cash registers for various loyalty programs. As a company owner, you can be assured that there will be no manipulation of discounts by staff.
- To carry out the returns correctly. It isn’t simple to do without this procedure in any business. The program will operate promptly and without errors;
- Control the personnel. Authorization of the materially responsible employee is carried out using a card or password. It makes it easy to determine who is to blame for shortages or over-sorting.
- Not to worry about security. If the POS system and the POS software responsible for its work fully meet the safety standards, you can count on that.
Before you choose, you need to explore specialized companies that offer POS software. The importance of this question is tough to overestimate because saving on high-quality and reliable POS software can lead to additional costs.
Where is a POS System Utilized?
We have found out what a POS system consists of and the main characteristics of its components. Then, you have to choose the most appropriate one for your sphere of activity, considering the format of the trade enterprise, its capacity, and permeability and taking more nuances into account before purchasing a POS system, the higher the probability of increasing productivity and sales figures.
POS Systems for Retail Trade
The peculiarity of retail trade is a wide range of goods, the necessity to promptly make sales, refunds, cancellations, discounts accounting for specific items or the whole check, and form the report. And with the growing competition in the business, it is essential to innovate smart retail technologies for the point of sale.
The set of necessary peripheral equipment includes a barcode scanner, fiscal logger, and card reader. Scanners with a visual product search will make the work much more accessible, including when the product is difficult to put a code into. In addition, proper selection of equipment will avoid queues and increase the number of customers.
For Restaurants and Hotels
What is the most important thing when choosing a POS system for hotels, cafes, and restaurants? First, equip it with special POS software. One of the functions of such a program is the ability to form order and “POStpone” it till the moment of final payment.
Mobile POS System
The functions of this design are entirely identical to those of the stationary version. But, at the same time, it is wholly independent and transportable.
In this case, you can install the program on a mobile device such as a tablet computer. This solution is perfect for the exit trade organization or the bar, where there is insufficient space for a stationary system.