What Is a Point of Sale System?
A point of sale system (POS) is the software that processes your business’s transactions. It’s what helps you sell in-person, online and on any other channels that your brand might have. It’s also what keeps your business organized and running smoothly.
A POS combines both hardware and software to help you complete sales in-store or online. It may include a cash register, bar code scanner and a credit card or debit card reader or swiper. It can also incorporate a printer for receipts, and it should have a cash drawer for storage of cash or checks. It can also have a mobile option that allows employees to bring the POS with them to customer interactions. For example, at Apple stores, instead of a central checkout counter, employees use mobile devices with card reader accessories to check out customers.
Serving Success: The Ultimate Guide to Selecting and Implementing a POS System for Your Restaurant
POS systems keep track of your inventory through data that is stored within the software or by connecting to an external inventory management system. That way, a retail manager can see sales and inventory numbers in real-time so they can make smart decisions that drive profitability.
POS systems can simplify crucial back office tasks, like ingredient waste and spoilage in a restaurant or managing product discounts and sales across multiple channels. They can also help businesses grow by opening pop-up shops and selling at events. Mobile cloud-based POS systems are especially useful for these situations, as they allow your staff to bring the POS with them to new sales opportunities.