7 Key Features to Look for in a POS System
In 2017, the worldwide retail location programming market represented US$ 12.9 billion. This number is relied upon to arrive at US$ 30.9 billion by 2024, for example, a CAGR of 13.3% somewhere in the range of 2018 and 2024*.
Assuming the center of your business is to sell items, you ought to put resources into a POS framework today. In any case, before that, how about we plunge into getting what is a ‘Point of Sale’ framework at any rate. This article will assist you with finding out with regards to the accompanying viewpoints:
- What is a POS system?
- Types of POS system
- Key component of a POS system
- Key features to look for in a POS system
What is a POS system?
POS stands for “Point of sale”. A POS system is used to conduct sales at brick & mortar and eCommerce stores.
Gone are those occasions when retailers utilized a sales register to deal with deals after which the information was moved to records and stock rundown. Today, with the assistance of a retail POS programming you can work on your charging, advancements, returns and considerably more.
The retail location framework can be coordinated with your different frameworks and programming like eCommerce stages, bookkeeping applications, ERP and stockroom frameworks.
A full-included undertaking POS framework can deal with deals observing and announcing, investigation, stock following, versatile network, client information the executives, representative administration, and hearty mixes.
Types of POS system
POS systems are available according to the need of the organization, from simple processors to complex cloud systems depending upon the type (physical or online) and size (small, medium and large enterprises). They are generally classified into 3 types:
Mobile POS
A Mobile POS framework or mPOS utilizes an electronic gadget, for example, a cell phone, tablet, or one more cell phone as a terminal at which you can connect a Mastercard peruser. It is profoundly versatile and permits you to join other fringe gadgets, for example, standardized tag scanners and receipt printers.
mPOS frameworks are utilized to handle installments and may have different capacities, for example, stock administration, dedication programs, deals observing, announcing and substantially more.
These frameworks are most appropriate for independent ventures and business visionaries, little retail locations, spring up shops, and speedy serve foundations. mPOS frameworks don’t occupy an excess of room and are exceptionally reasonable and advantageous.
Terminal POS
A terminal POS is a software/hardware based system that carries add-on peripherals such as barcode scanners, credit card readers, receipt printers and cash drawers.
These systems have extensive capabilities including inventory management, reporting and analytics, payment receipts via email, CRM and customer loyalty programs.
They are best suited for retail stores that have cash dedicated cash wraps. Due to their advanced functionalities and reasonable prices, they are used in businesses such as restaurants, grocery stores, boutiques, book or magazine stores, salons, and electronic stores.
Key components of a POS system
Hardware and software form two major parts of a POS system that work in tandem to conduct sales transactions:
Hardware
The hardware of a POS system consists of the physical setup like cash register connected to a PC or server, or even a portable device such as a tablet or smartphone connected to a cloud-hosted system.
It may contain add-ons such as barcode scanner, receipt printer, label printer, cash drawer, scale for weighted items and a card machine to process the payments via debit or credit card.
Software
The POS software stores the information and maintains it within a database. A feature-rich POS software provides a huge range of capabilities such as billing and order processing, sales monitoring and reporting, inventory tracking, returns, analytics, mobile connectivity, customer data management, employee management, and loyalty programs.
Many POS software can be integrated to 3rd party software such as accounting software for bookkeeping, email marketing solutions, and ecommerce platforms for selling online.
Now that you know what a POS system is, here are 7 key features that you should look while purchasing it: Read related Links to Know ore About this.
Links — https://www.vinculumgroup.com/pos-system-key-features/
https://www.vinculumgroup.com/the-ultimate-5-reasons-why-you-need-inventory-management/
https://www.vinculumgroup.com/top-ecommerce-marketplaces-thailand/
https://www.vinculumgroup.com/best-marketplaces-to-sell-in-philippines/
