Point of sale devices include a computer monitor, a cash drawer (cash register), receipt printer, credit and debit reader, a barcode scanner and a display that allows the customer to keep track of the transaction.
POS software (or Point of Sale software) is a crucial part of any retail business. From restaurants to gas stations to hotels, a store’s POS software can make the customer’s experience not difficult, and help the employee be as efficient as possible. If poorly chosen, the software can triple the time a transaction takes, and act as the bane of your employees’ existence. The primary purpose of this specific software is, of course, to process monetary transactions. POS solutions themselves are almost as old as personal computers. However, point of sale software must be equipped to handle various other functions in order to allow a retail business to run smoothly. In retail stores, POS software can be programmed not only to process ordinary transactions but to apply discounts, calculate sale prices and handle changing, company-wide promotions. Software can also keep backups of transactions to assist in record keeping.
Advanced POS systems can also read from and write to the inventory control system – so that the status of products in the database can be as accurate as possible. POS software also sees innovative use in the food service industry. Terminals in restaurants often include portable debit and credit processors. These can be brought directly to customers’ tables to avoid lineups at the cash register. Restaurant point of sale software also keeps track of customers’ orders and manages tipping functions, including tip-outs for staff who do not wait on tables.
The hospitality industry also makes use of POS solutions to handle financial transactions, connect with hotel restaurants, store customer information and preferences for future visits and keep track of the availability of each type of room on the property. This software in hotels also keeps track of company-wide promotions and discounts for preferred customer programs. Nearly all businesses use point of sale software. Although POS software is usually associated with cash registers, it is found throughout the entire computer systems of most businesses, keeping track of valuable information and managing discounts, promotions and returns much faster and more accurately than a human being could. This software is, in many ways, one of the major driving forces behind our retail-driven world. Can you imagine “Black Friday” without POS Solutions?