Do you know that every time a customer purchases something at your store, they are in the process of making a point-of-sale system or POS? The point-of-sale is the time and place where a retail transaction takes place. Since its inception, POS systems have provided help to retail and restaurant owners to run their businesses. But from its early heyday of only having credit card processing, the latest POS system has upgraded to new high-tech features such as mobile POS system and non-contact payment options complete with e-commerce integration, and more.
The Components of a Good POS System
For starters, POS systems have both a software and hardware component:
- POS hardware components consist mainly of a credit-card reader, register screen, receipt printer, a barcode scanner, and a cash drawer.
- POS systems software includes on-premise software and cloud software. But what differentiates them is that the former doesn’t rely on the internet to work while the latter needs it to thrive.
How Can It Help Your Business?
POS systems can make your business a breeze through these top-notch features:
- Sales and Inventory can help you track your company’s sales and ensure every item has been sold and recorded correctly in the system so the generated profit will sync together at the end of the day.
- Labor management can help you in employee tracking. For example, you can know which employee has logged in and out of the system, how much sales have they earned for the company, and keep track of their working hours.
- Loyalty programs are a great way to bring in new customers and retain existing ones as well. With every given incentive, your customers can turn into brand ambassadors that will help to promote and spread the good word of your business. All your employee has to do is to key in the customer’s savings every time they make a trip to your outlet or enter a phone number or scan a card to add up.
- Gift cards are almost the same as loyalty programs, except that they need to be made available as an option by the store’s POS vendor before they can become part of the incentive.
- Mobile-friendly apps are not compulsory, although they will become incorporated into any aspiring brands who want to make it to the top. Whatever the nature of your business- whether it is big or small, you will have to need a mobile-friendly POS.
- Any left-out data from your business is then quickly turned into reports that provide you with an insight into customer behaviors, sales data, employee productivity, and much more so you can bring up the company’s sales efficiency.
Making Life a Breeze with Shogo
Is your POS system giving you a lot of problems? Fret not, as the best POS system is just around the corner. We are the winning solution for all your business accounting needs. We provide the latest technology that can help elevate your business to another level so that you can be a cut above your competitors.