What is POS system?

What is Point of sale?

The point of sale (POS) system is the place where your customer executes the payment for goods or services bought from your company.

In technical point of view we define (POS) as “A point of sale system is a combination of software and hardware that allows merchants to take transactions and simplify key day-to-day business operations.”

Here are basic two parts of POS;

1.      Software Components

2.      Hardware Components

1.      Software Components;

There are two types of software deployment

1)      On-Premise

2)      Cloud Based

a.      On-Premise;

Which software’s, A person purchase one or more license and install on his own system or server and he is in-charge of software updating and maintaining the software.

b.      Cloud Based;

Also known as software as a service (POS Solution). A user access these kind of software’s through internet. If your internet gone down, most system track your sales and sync them when your internet working properly.

2.      Hardware Components;

Here are also some types of hardware components

i.                    Register Screen

ii.                  Barcode Scanner

iii.                Credit card Reader

iv.                Receipt printer

v.                  Cash Drawer

1.      Register Screen;

 Standard monitor that displays the product database. Enables other functions, such as employee clock-in and viewing sales reports. Tablets—especially iPads—are popular for replacing bulkier monitors.

2.      Barcode Scanner;

Automates the checkout process. Scanning barcode pulls product info and adds its to the checkout point. Information of product saved in a barcode and barcode scanner access that data. When we scan that bar code than scanner access through the backend software.

3.      Credit Card Reader;

Secure and EMV-compliant credit card readers are extremely important for retailers since the EMV payment standard went live in 2015, and non-compliant retailers face potentially huge losses on account of fraud liability.

4.      Receipt printer;

Email and text receipts are gaining popularity, but paper receipts are still important for providing customers with a quick snapshot of their purchase. You can print employee sales totals, hours and other information.

5.      Cash drawer;

For the security purposes of money now a days peoples are using cash drawer. You need a secure place to store cash for transactions. Additionally, there are no credit card fees tied to accepting cash.

Parts of POS system;

1.      Sales Reporting

2.      Customer management

3.      Inventory Management

4.      Employ Management

1.      Sales Reporting;

Its access and delivered through internet. This data collected from the sale of point and store in database for future analysis.

By running report based POS system on this information you can make better decision about ordering and merchandising.

2.      Customer Management; 
Retail ADVANTAGE POS Software allows you to keep an extensive record of customer information. You can store their address, the particular stylist they continually receive service from, birthdays and types of referrals. We have also included optional fields that you can set up for keeping more information.   

3.      Inventory Management; 
Point of sales systems are checkout locations in business operations where transactions occur.Having a POS with inventory management capabilities (and using them) is the best way to make an impact on your business.

 

4.      Employ Management;  
In this portion of POS system we store data of employees like attendance their basic information and their salary etc.