Cash registers are becoming a thing of the past and POS systems are leading us into the future.

A POS system, ‘Point of Sale/Point of Purchase’ system, refers to the time and place in which retail transactions are completed. At this point of sale, the business calculates the amount owed by the customer, possibly prepare an invoice and then offers the available methods of payment for the customer to use. 

Faster Check-outs

A POS system is a better option for retail businesses than cash registers. It’s simple to use and easy to teach to your employees, which will decrease training time and increase productivity. Efficiency can also be boosted thanks to faster service as the POS system provides a quicker check-out times due to the use of barcode scanners, leaving your customers having had a positive retail experiences as opposed to the memory of a long and timely queue.

More Payment Possibilities

Not only do these systems provide ease for your employees, but also for customers purchasing in your stores. POS systems expand the possibilities of payments, such as customers being able to pay through chip cards, contactless payments, ‘Apple pay, Samsung pay and Android pay’. These diverse forms of payment better the customer experience allowing them to pay with their choice of payment without a second thought.

Data Collection

Investing in a POS system will make your business run smoother. The system will provide an accurate overview of the business and record cash flow automatically. It saves financial information, inventory and sales records providing an educated estimate of monthly revenue for upcoming weeks or months. This investment minimizes cost for your business as this data will not be required to be collected by employees.

Employee Performance

Employee management is within the capability of a POS system as it can check individual sales conducted by each employee. As well as this, it can be used as a managerial tool and a basis for rewards, encouraging harder work leading to increases in sales and customer satisfaction. All of these are benefitting the business and allow employees to review their performances, establish where they need to improve or set themselves personal goals; acting as motivation for individuals. 

Reducing Cost and Pricing

Due to the production of reports, this retail POS system allows you to determine which products are the most and least profitable within the business. This information can lead you to decide which products should be priced lower or ordered in smaller quantities to prevent waste and loss of money.

Adding a Personal Touch

POS systems provide customers with a more detailed receipt, other than simply a slip of paper referring to the date and amount paid. The systems use inventory records to provide more information, such as a description, price and savings made or coupon used during sale. In addition to these added details, the system also allows you to add your business name/logo or coupon, adding a personal touch. The receipt can also include information on loyalty schemes, return policies or any custom message you desire.