What is a point of sale?
A full point of sale (POS) system is a combination of software and hardware elements. These systems help business owners take control of their transactions and manage their reporting needs. Many retailers use them as the alternative to a cash register since a POS can easily handle multiple functions. With this in mind, no two industries will have the same needs. This is why the POS market is very varied in what it offers. Since restaurants and service stations have very different requirements, they need something appropriate for their business model. Because some systems don’t need as much specialization, they are an easy addition to existing hardware. On the other hand, some systems have to handle more complicated uses so they have to be a more specialized.
Choosing the right system
Regardless of the needs of a business, a point of sale is the single most important aspect of any business that deals with transactions. There is no business without sales and there are no sales without a properly implemented transaction system. Dealing with payments in the bread and processing the management reports is the butter in this case. POS systems really shine in their ability to combine both the transactional and managerial needs into one powerful product. The most important aspect of a good POS is the optional integration of business management tools. Having this option allows you to control things like inventory, customer relationships, loyalty programs, gift cards, purchasing, receiving, staff performance, and reporting, all from the comfort of one convenient set up. It removes time consuming paperwork from day to day operations and frees up your time for more important things.
POS systems improve the efficiency of your business due to their ability to store sales records, handle returns and voids, produce sales trends and analyses, and provide customer product preferences based on past reports. These are built into the software and are securely stored on your system to reduce the amount of daily paperwork required. Installing a POS system will significantly improve your usage of time and cut down on labour required to process end of day, weekly, monthly, and yearly reports.
Wiz-Tec’s iPOS point of sale system is an industry leader in integration with equipment control. Take a look at the applications for iPOS here.