Importance of POS Systems

The point of sales also known as POS is an inseparable part of any business. Previously, these systems were famous with the name automated cash registers. But, as the technology progressed, the cash register system also got substantial improvements to make the business transactions more efficient.

Nowadays, a normal POS system includes a POS printer, cash drawer, a computer system, a modem, pole display, and a bar code reader. But, the most important part of this system is a POS software that is installed and connected to the different POS system via the internet. POS is now much more efficient as compared to the one used in the past. Owing to its features like user-friendly, highly transparent in nature, and good presentation, a Point of sales system has become a crucial part of the business. The main purpose of designing a POS software is to eliminate manual inventory and to promote the business sales. 

On POS, customers can make the payment for the goods and the business operator can perform many business operations from ordering to reporting by just performing a few operations on the system. With advancement in technology, more and more features are getting added every day to the POS system, which helps the operator to do business transactions efficiently. The business transactions which operator does on POS are online selling integration of e-commerce, easy payment processing, hi-level business accounting, promotion, and so on.

Sales are the core of any business that comes from customers only, so it is vital to make a POS hassle free, so that customers can enjoy doing shopping. For example, a POS for a restaurant or retail business is designed with the motive to enhance the customer loyalty and trust by being used for different mediums of promotions. A part of the point of sales system also supports marketing as it helps in accelerating the sales and keeping the customers informed about the latest offers and deals.

The two important aspects of any normal Point of sales system are speed and dependability of service. In fact, it is interesting to know that POS is always open for new features, features that can simplify the business transactions. Easy to use is the feature of POS system which helps any business to increase the sale in every aspect.

How to select the correct POS system for your retail business?

In today’s fast pace of retail environments, it has become necessary for many businesses to invest in a point of sale solution for their day-to-day operations. Choosing the right point of sale system is another task. The bottom line is that the right POS system will save you time and that means you are going to save money in the long run. Below are the tips how you can choose the perfect one for your retail business.

Whether you need it or not? 

This will usually be determined by the complexity of your business and your monthly sales volume. Other key factors that will help you decide are the number of employees you have and the amount of inventory that you stock.

Analyze at your competitors

Take a look at other retailers in your community, do your homework! Check whether they are competitors or not, if they are using a POS system or not? If yes, then what type it is? Who is their POS vendor? The vendor has been in business for how long?  Does the vendor have clients in your industry? Would he be willing to speak with you about their experience with the POS software?

Determine the ROI

You should consider that this is an investment in your business that will provide you with long-term benefits. Although most POS solutions are not inexpensive, especially where profitability and ROI are concerned. You can calculate your ROI through a simple exercise. Once you have narrowed the choices down and done your research, compare the features to determine which system will be best for your business.

These above points will let you pick the best point of sale system for your retail business. 

Phenomenal Advantages of Installing POS Solutions

Technology has become the bedrock for modern business.  It is perhaps impossible to manage business without such phenomenal inventions. Today every modern business needs cash register to monitor sales and manage issues of inventory and storage. Without associating with modern technology, it is hard to manage business. One comprehensive system present in the market is POS or the point of sale system. POS System has made it quite easier for the retailers to process sales activities. The foremost benefit of utilizing modern technology is flexibility.  The upcoming technology is far more featured and superior. It has become so easy to manage the inventory with the help of revolutionary technologies.

IT is a boon for small and medium sized business. Point of sale systems are generally installed at Restaurants, gift shops, grocery shops, retail stores, hardware stores, convenience store, sporting goods, drug store, health and dental service, hospitality and many more. If you want to deliver better facilities to the customers, attain leading edge over the rivals and remain on the profitable side then the immediate need is to switch to latest technology.  With the help of advanced systems, you can create the perfect report for your business. Advanced and pioneering solutions are easy to install and at the end of day they bring only benefit for the business.

Advanced platforms and systems enable the user to draft accurate reports especially when the record of inventory has to be kept. Even small errors can lead to drastic consequences. It is to make calculations and keep the database accurate. When you are into business then any sort of malfunctioning or error can result in major loss. POS Solutions are revolutionary and purposely developed for the help of management.  Advanced solutions and platforms such as point of sale also helps in better management of inventory and keeps regular track on the movement of products.

Advantageous Roles of POS System in Enhancing Sales

It is not necessary that all of us are familiar with the POS System. With the evolution of technology, several simplified solutions have been absorbed into the mainstream. Modern technology, sophisticated hardware and software solutions have demonstrated their abilities. It is now well known that business can be operated in efficient and easier manner by utilizing latest technical platforms. Pioneering technological leaps have brought promising results for small and medium sized commercial organizations. With modified technical support, you can take the business to new heights in profitable manner.

For the information of a layman, common POS System comprise of computer, receipt printer, cash drawer, bar code reader, swipe reader and display system. It is very easy to operate POS and thus they are easily seen at gift shops, clothes showrooms, hospitality industry, restaurants, general stores, health and dental services, medicine stores, grocery stores, etc. These advanced systems provide the operators with much required flexibility and even help them with tasks such as ordering and purchasing stock. New retail management solutions are pioneering and they allow the operator to simultaneously accomplish several tasks. By integrating new technologies to your system, it becomes easy to do payment processing, marketing and also video surveillance.

You will always be on the profitable side after associating and switching to advanced options. POS Solutions have greatly enhanced the efficiency of the retailers and the best part is that a big IT infrastructure is not necessitated. The easy to use touch screen technology, real time information about inventory, processing of transaction, generation of receipts and other activities have become so easy by introducing pioneering solutions.  Payment processing options, gateway solutions and other facilities have brought great relaxation for the retailers. Now they possess the capacity to tackle their business in hassle free manner.

POS System and the data breaches

As soon as a new technology or system comes into the market, the hackers start working actively. You bring one change they will bring hundreds of loopholes which not only cover up their tracks but also bring success to their plans. Well similarly in the case of POS system, in every six months there is one hack or the other you name the technique they have used it.  Numerous problems which were raised by this hacking were like high-risk vulnerabilities, data breaches on large scales, etc. So if we summarize the activities of hackers in the year 2014 we will come across the following points.

Researchers and technical practitioners had given a unique name to the year 2014 i.e. “Year of POS RAM Scrapers”, and up to the certain extent, they were right in naming it. If you are not aware then let me tell that 2014 faced the maximum number data breach and RAM scrapping If compared to past few years and POS system got the maximum heat of it.

In the year 2015, the similar varieties of malware stayed in the market everyone knows that POS system always become the easiest target of all, as it makes use of unprotected systems and software around the world. But with the help of new technologies, the companies are gaining more secure background which can kick these damage causing materials to the curb.

Well, this year i.e. in 2016 a new type of ransomware malware is floating in the market under the name of Locky, which normally spread in the form of an email along with an attached word document, if opened then it frees the malicious macros confined in it. Guess what, in the same week the researching team came across the twin brother of locky under the name of Hucky or called as Hungarian Locky by the research people. Initially, I took it as locky only but later it was revealed that however it is a ransomware malware but not locky. With these threats prevailing in the market the companies are introducing products as well as POS system software with a good firewall protection.

Impulse Buys Items Placed Near Point of Purchase Helps the Business

A point of purchase is the most effective way to collect the money from the people against the purchasing they have made from the store. Most of the shoppers usually do impulse buys when they feel that product is being offered at an unbelievable price. In fact, the point of purchase acts more like a “give it a try before you shop” counter and this type of arrangement attract more shoppers as compared to any usual display stuffed with the items. A customer is always curious to know about the detail of the product which they wanted to purchase.

Mobile phone shops are the best example of impulse buys. There is a range of mobile phones available in the market of leading brands with different features and customers are buying without knowing the features each phone has and the way to use that features. But, in retail shops of mobile phones, dummy phones are provided from the side of the manufacturer to give an idea to the customer about phone looks, size, and weight. By seeing the dummy phones available in the retail shop, a customer can easily know whether it is the same phone which he was looking for without feeling any pressure to buy the phone. In those shops, moving out is also the option if you don’t like the product range.

Yes, it is important to mention that the point of sale may differ according to the business requirement. Based on offered product, every business needs a unique point of purchase. The expensive product like jewelry needs a different point of purchase for the obvious reasons just to maintain the safety point of view. This is the main reason why jewelry is always kept in a case. By displaying the item while keeping inside the case, the customer gets enough time to think whether it is useful to buy or not.

By displaying the items for impulse purchasing at pos cash register ensures that business can get additional sales with useful and day-to-day items such as t-shirts, chocolates, socks, beverages and so on that are offered with attractive discounts.

Things To Consider When Choosing POS Software

Picking the suitable POS software for your business needs a comprehensive understanding of your business and POS technology including hardware and software. After knowing the nature of your business, you need to consider the following areas of POS including:

·         barcode and docket printing

·         wireless interface

·         barcode

·         cash register/ cash drawers

·         software programmability

·         barcode scanner

·         software compatibility

·         internet connection and

·         communication and data network

The things of POS system that need to be compatible with POS software are barcode and docket printing capabilities, barcode scanning, registering and barcoding. These things are needed to work with their point of sale system in the best manner to perform each task with the desired accuracy. For example, faulty barcoding will give always give wrong information to the system. The different hardware products of POS including communication peripherals, computer display, barcode and docket printers, and barcode scanner are synced with every other hardware and software so that the overall POS system works well in any situation.

Any POS software should be compatible with 3 major operating system. These systems are Microsoft, Linux or Mac and work with different POS hardware products.

Whether it be single or multiple cash counters, an efficient POS software could manage all the point of sale of a business. For running the business operation smoothly, it is needed to maintain good communication stream between cash registers with central control.  The point of sale system should be connected with an uninterrupted data network to maintain smooth communication with a centralized system to the cash registers.

These are the basics of POS system but the usefulness of point of sale is further increased by giving it user-friendly interface with graphical capabilities, touch screen, wireless internet connection, real time backups and secure servers. These features are very important for the POS systems because they are widely used by small and medium size retail business owners.

SMEs still use old programmed DOS based POS because they are very cheap in price and are easily fit into the retail requirements. A customized POS software is the best to use for the point of sale because every business has different requirement and it is nearly impossible to fulfill the needs of every business with one retail pos.