POS is short for point of sale or point of service. This word is relevant to retail shops and stores where there’s a check-in counter/cashier through which all the customers have to go, in order to pay for the things they have bought.
Or more precisely, POS refers to the place or time where, after completing their shopping, the customer makes the payment to the operator in exchange for the goods they have bought. The operator will make an invoice after calculating the amount that is to be paid. After the payment, a receipt will be issued, after which the sales transaction will be completed.
To go through this whole process and complete retail transactions, POS comprises of various resources, such as POS software and Hardware, electronic cash register system, bar-code scanner, and receipt printer. The point of sale system could be used anywhere as long as there is any kind of monetary exchange going in lieu of products or services. It could be utilized in hotels, restaurants, bars, casinos, hospitality stores, pharmacy, salon, lodgings, museums, and most importantly, in a retail superstore.
Point of Sale technology
Before the technology took over, all these transactions were done with the help of a pen, a calculator and an assistant, but nowadays, the advanced technology has provided business owners with inventory software programs to track usage, make calculations in case of re-ordering, and take inventory on every single item differently. The sales transactions are noted almost simultaneously as they take place and hence your inventory record always stays up-to-date.
The ARC Ireland POS systems have the following features:
- Completely incorporated accounting
- Inventory tracking
- Customer relation management (CRM)
- Integrate bar-code scanners
- Process credit and debit card
- Operation reporting and payroll modules
- Record and track customers order
- Rental services
- Service management
- Online Shopping
Point of sales software:
The POS software enables the use of add-on devices at the check-out section. It also comes with application-specific programs so that it could be personalized in accordance to its retail environment. If the POS system is installed in a restaurant, it will allow the restaurateur to add all the menu items and their prices in its database. Similarly, if it is installed in a salon, then all its services and its rates will be enlisted in the system. Some of the popular software systems have additional add-on services options.
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Best POS features:
If you are serious about installing a POS system on your cash counter, then you need to research carefully and make sure that your software has the following features:
- Easy to use: Make sure the software is user-friendly. Usually, retail stores have along line waiting for the checkout, and nobody wants a complex POS system that will unnecessarily waste everyone’s time.
- Security: In a large retail store, it’s very easy for things to get stolen; therefore, make sure the retail system you are acquiring has tight control over security. A proper receipt system should be in place so any problem could be traced.