Point-of-sale (POS) system is a platform which is provided by the company to their customer to experience technological advancement. The POS system is an integration of hardware and software system used for billing in POS stores.
Components used for POS system:
- Displays order total
- Product weight
- Menu/catalogue, etc.
- Barcode scanner
- Cash register, etc.
How to step up POS?
Installing the Hardware units: The hardware units are the physical units which have been used by the clients for inputting data and to verify the input using components like display
Installing Software units: The software units are programmed units which can be customised based on the usage and nature of the client’s business. Some software has done based followings:
- Native POS: The service provider’s personnel will come to the client’s place to install POS in their system and give a working demo.
- Cloud-based POS: It is a pre-designed software, where the back end will be ready to use. The customer should integrate the store’s database with POS.
- Tablet POS: It is a POS software which exclusively designed for Tablet devices. Where the retailer can simply set up through POS by logging into the service provider account and updating the existing inventory for the first time.
- Terminal POS: The POS terminal should be created by attaching the carder with the same internet connection or different one exclusively for the readers.
Features of POS:
Optimized Efficiency: In these days, the cash register cannot rely on the personnel’s ability to remember the price of the every product available in the store. Using a POS system, the product’s details are already available to the personnel, where they can simply scan the product barcode and other details available on the product to use for the cash register.
Inventory Management: By using the POS system, the store can manage its inventory efficiently. Give input on existing stock levels for each product while setting up POS software for the first time. From that point, the POS will be starting to focus on every order processed, an adjust the inventory respectively. The POS system also contains a return and replacement option, so that inventory management can be done without any issue.
Sale Report: The stores use POS to analyze the sale report and the current trend of activities. I can be used for performance evaluations like profits and to forecast the future sales trend. This is also been used to analyze the sales done on a different time frame.
Employee evaluation: The employee can be evaluated through the POS system. The employee is given a unique code to track and know their checkout speed. Before placing an order the employee should enter his unique code. It can also be used to identify the employee who works well and who’s not working up to the level using the customer’s feedback.
Centralised Catalogue: As a multi-store retailer, it would be difficult to maintain a centralised catalogue in every store. But, using POS software the company can maintain a centralised catalogue in every store by maintaining a digital Catalogue facility.
Sectors which is commonly using POS System:
Restaurants: The POS system used in this sector will be having a single display to manage a reservation, menu, processing the order and getting feedback from customers to provide a better dining experience.
Apparels: The POS system used in this sector should be having multiple options which denote the brands. The product has to be uploaded as such into the digital catalogue to avoid misinterpretation.
Electronic Goods: In this POS system, along with the model and brand the serial number should also be entered in the POS system. So, the retailer can scan the serial number to identify the item in stock.
Packaged Products and Groceries: In this POS system, along with the other things the retailer needs to upload Unit-of-Measure (UOM) and expiry date. The expiry date will be used to notify the products which nearing the date of expiry so that it can be sold at a discounted price. The Unit-of-Measure (UOM) is used to define the quantity and price of a product.
Jewels: As they deal with high priced products the software is used to send a reminder for frequent stock audit using POS software to avoid duplicate/wrong billing.
The POS system has been providing the retailer with a technology which can automate their business and it can also help the retailer to give an optimized service experience for their customers. This POS system also helps the retailer to manage their business effectively and efficiently.