What Is a POS Solution, and Why Should You Have One?

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Any entrepreneur, whether you are just starting out or are looking to expand your company, wants to make sure that the tools available for your business are fully utilised and maximised in order to ensure its success. For this, educating yourself on what the available systems and tools are is an integral part of the selection process. It is through knowing what your options are that you will be able to make accurate and relevant decisions for your business. Whether it is a choice between a physical and an online shop, a cash register or a POS solution, or a traditional or automated inventory management systems, you should be fully aware of the pros and cons of each before you finally decide what your store needs.

What is a POS System?

A POS or Point of Sale is basically the final step in any retail transaction where the exchange of a payment for goods or services is completed. There are several forms of POS solutions, with the cash register as the traditional and commonly used one. In recent years, more advanced automated systems have been developed, promising ease of use and simplified transactions for retailers. These systems now come in cloud-based formats, meaning that the information can be accessed online, 24/7. It also allows for the completion of the sale to be completed from anywhere, without having the need to physically input the transaction into a register in your store.

The Flexibility of POS Software over Conventional Options

Because of its ability to eliminate a lot of physical and mechanical restrictions, you are faced with a more flexible business setting when you choose to use a cloud-based system over the traditional point of sale solutions. The freedom to set up shop anywhere, even over the internet is one such advantage that will definitely prove beneficial especially if you are a new business and only starting to get the word out about your products or services. Rather than spend on extensive marketing and promotions, you can instead bring your store to where your target clientele are, allowing you not only to build your brand, but also possibly close a number of sales onsite and immediately develop a customer base. Generation of reports are also quicker and easier, and you can even review your numbers from the comfort of your home through the web-based system. Data is no longer stored onsite, but rather it is inputted into a central server that can be accessed at your convenience.

Greater Efficiency, Less Error

Not only is the point of sale software more flexible than traditional solutions, it is also more efficient. There is a lower risk of inconsistencies in your figures when the completion of transactions is done through automation. Prices are encoded into the system and sales are computed by machine. With less room for error, you can be able to accurately assess your earnings and losses. Also, because the sales are recorded in real time, you can easily monitor the amount of cash that your store has on hand at the end of the day, and see if the figures add up. Through this, you are protected from potential theft from within your circle of employees. It also will protect your customers against inconsistent pricing for both regular priced and sale items. You will therefore have a more streamlined and effective selling process that is sure to benefit your business and clients alike.

Retail Express offers POS solutions suited for you and your business’ needs. Request an online quote now!

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Date of Post: 2013-11-29

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