POS Central Blog

Necessity of using pos system technology in retail business

Posted by pos central on Tuesday, 7 May 2013 0

In the modern retail world, the term ‘pos system’ is a highly popular one. Pos systems are used in retail stores, cash counters and other check-out points where sales transactions are recorded in almost every type of industry starting from grocery stores to restaurants, hotels, different boutiques, hospitals and more. A pos system has two main parts: pos hardware, which includes electronic cash register with POS Cash Drawer, display screen, barcode scanner and printer, and pos software.

Pos technology: A modern pos system is much more advanced than conventional Cash Registers which only allow billing and recording functions. Modern POS Systems are more sophisticated, powerful and easy to handle. This technology has solely been designed for commercial use and hence, the reliability and accuracy is undoubtedly higher than a conventional system. Pos solutions include inventory management and updating, integrated accounting, customer management, service management, employee payroll, operation reporting as well as rental services. Overall, a pos system can also be described as retail management, business management or multi-location management software due to its improved functionality.

Cash Counter: This is a station where both the seller and the buyer stop to complete the sales transactions of products. The cashier scans all the products with the help of a barcode reader and the cash register calculates the total sum. Finally, payment is made by the customer and the pos printer produces the payment receipt.

Integration: Cash registers are often considered an earlier version of the pos system. But cash registers cannot be integrated with any software. Modern pos system are integrated with software and services needed for commercial use. For example, accounting programs can be installed in this system to make accounting services easier and accurate. Also, there is certain software that can verify credit cards while payments are made over a counter. Pos technology also supports online shopping. Moreover, it also helps in maintaining synchronization between online and offline stores when a retail store functions in both these surroundings.

Efficiency and accuracy: This technological platform reduces the total operating cost significantly. Moreover, in this system, there is less scope for human error or alteration. So, ultimately a pos system is an important business tool for every retail business.

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