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Point of Sale (POS) System Definition | Small Business Encyclopedia

There are plenty of popular POS software systems that enable you to use add-on devices at your checkout stations, including electronic cash drawers, bar-code ...

Point of sale - Wikipedia, the free encyclopedia

This was the first commercially available POS system with a widget-driven color graphic touch screen interface and was installed in several restaurants in the ...

Point of Sale (POS) | What is it? - POSmatic

Point of Sale Systems are utilized in many different industries, ranging from restaurants, hotels & hospitality businesses, nail/beauty salons, casinos, stadiums, ...

7 reasons to switch to a point-of-sale system - Microsoft

Inventory snafus suggest that it's time that your business did away with its cash registers and stepped up to a point-of-sale (POS) system, such as Microsoft ...

What is point-of-sale terminal (POS terminal)? - Definition from ...

Much more complex than the cash registers of even just a few years ago, the POS system can include the ability to record and track customer orders, process ...

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Point of Sale System for Retail, Restaurant & More - Same Day ...

A Point of Sale System includes everything you'll need to get started with POS in your business. Depending on your needs and the type of business you have, ...

What is a POS System? (with pictures) - wiseGEEK

A POS system is used for managing the sale of retail goods. Often including software for check out stands, a POS system also...

POS System | Choosing the Right POS System | ShopKeep

Learn what points to consider when choosing a POS System including ease of use & robust reporting. Download our Free Guide to Choosing a Point of Sale ...

POS Systems Review 2014 | Best Point of Sale Systems | Small ...

Oct 28, 2014 ... Looking for the best pos system? We have easy-to-read, expert unbiased reviews and feature comparisons of the best and cheapest systems.

QuickBooks Point of Sale - POS Solutions for small businesses

Accept credit cards in your QuickBooks POS system or from your iPhone, iPad or Android device. Rates as low as 1.45% per PIN pad debit transaction1.

POS System - Point of Sale for Retail Stores - Shopify

Shopify's POS system is the easiest way to manage your retail business and sell in store. Try Shopify POS free for 14 days.

What is point of sale (POS)? definition and meaning

In many cases, this is a standard cash register at the front of the store; in some cases, such as at a restaurant, the point of sale can be an electronic system which ...

What is a POS System?


A POS system, or Point of Sale system, refers to the location in which transactions are made in a business. The major components of a POS system comprise of the hardware and software needed to run the system, such as the cash register, a computer, credit card processor, and checkout system. The major industries that use POS systems are retail and hospitality, the latter of which includes restaurants, hotels, and beauty salons. Each of these industries have POS systems that are specialized to their needs, and have different capabilities and requirements. For example, the POS systems that the retail industry uses will be different from that of the restaurant industry. It is up to the business owner to decide which POS system will be best suited to his or her business’s needs.

Why use POS systems?

 POS systems provide a variety of benefits for businesses that choose to utilize them. In general, it is advised that businesses consider the use of POS systems if their revenue reaches around $700,000 to $900,000 a year. For businesses below this revenue range, a cash register may be enough to meet their needs, unless they are willing to make the investment needed for POS systems. Some of the benefits that POS systems provide for businesses are:

1. Increased efficiency

POS systems reduce the time that employees spend in maintaining inventory and calculating sales and cash flow. Equipment included in POS systems, such as cash registers and barcode scanners allow employees to quickly process customers and streamline the checkout process. In addition, POS systems reduce the chance of human error, leading to increased sales and productivity.

 

2. Customer Satisfaction

Using a POS system allows employees to rapidly address the customer’s needs. It allows them to process customers through the check-out process quickly and efficiently.  In addition, some of the features of POS systems include the ability to create gift cards, process discounts, and maintain customer loyalty programs. Yet another feature of POS systems is that it can collect customer data that can be further used for specialized marketing and advertising campaigns.

 

3. Reduced Losses

POS systems keep track of inventory and prices of each individual product in the store. A major problem that businesses must address is shrinkage, or the loss of products due to theft, misuse or waste. This computerized system can minimize shrinkage through the ability to track inventory as it moves from storage to checkout.

 

4. Access Real-time Information

With POS systems, employees can instantly access data that gives them information on inventory and sales at any point of the day. For example, POS systems can inform staff members of how much of a product they have sold yesterday, a week ago, or the month before. Another benefit is that POS systems can give alerts when a certain inventory stock runs low, or when a frequent customer has entered the store. 

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