Getting to Known Point of Sale System
Point of Sale is the point where a customer walks in to your store and purchases your products. The POS transaction can be in any form such as through written receipt, complex computer system or simply an adding machine. Cash register is a basic POS computer system.
A point of sale system is simply a computerized cash register. POS system has been used by many retailers in managing their business operations such as in hotels, restaurants and liquor stores. A point of sale system is composed of software and peripheral devices such as pole display and bar code scanner. These devices facilitate decreased manual labour and assist faster rate of customer service.
The POS System in Retail Stores
What we found in different retail stores such as in convenience or liquor is a complex type of POS, where it involves a lot of processes such as sales inventory and stock level checks. Furthermore, they are capable of creating reports and perform a lot of memory functions. With the help of POS software, the business industry has been significantly improved and advanced when it comes to delivering customer service. Through the POS system, the most purchased products are identified. Retailers recognize the needs of the customer and the same time, cater them properly and efficiently. In this manner, it results to customers’ loyalty and a high-profit business.
In POS liquor store, managing inventory sales and customer service are primary concerns. POS in liquor stores is made accessible and flexible. May not be exactly the same with other stores, POS in Liquor stores reduces decision-making of cashiers; and overstocking of products is restrained, as well.
On the other hand, in the food industry POS system, ordered menus are sent directly to the kitchen, cutting down delivery time and promoting faster food service.
Beware of Another POS
You may be confused with other POS, which stands for Point of Service that is not synonymous to Point of Sale. Point of Service (also abbreviated as POS) is a health care insurance plan for medical expenses which an individual may wish to choose a physician or any specialist. Those who are members of POS enjoy the benefits of low payments and no deductibles.
POS in General
Through POS system, data entry errors and double entry are markedly reduced; thus, lessening accounting errors. A simplified and accurate accounting able the retailers to focus on what more they can offer to the consumers (customer service); likewise, managing your retail goods. POS system, even a POS liquor store, if properly managed, will lead to a successful and money-making business.