Point of Sale Solutions
Every retail business should have point of sale solutions for their business. This usually refers to the equipment (both hardware and software) associated with check out counters and registers. Using an integrated system will make your business much more efficient. Hopefully, your business is already equipped with a merchant account and the ability to accept credit cards. Using a POS system can also integrate very well with the merchant account and allow for credit card transactions at the check out stand.
Types of Point of Sale Solutions
The most basic types of point of sale solutions include a simple adding machine and a cash box. Of course, most modern systems are computerized. A typical system will include a display screen for the clerk, possibly a customer display, cash drawer, credit card swiper, printer, bar code scanner and a computer loaded with the POS software.
Systems may also be customized for certain businesses or types of industries. For example, a restaurant may have point of sale solutions which include printing a ticket of the order near the food preparation area so that the kitchen can immediately start preparing the order.
Many of today’s modern point of sale solutions may include some excellent features and functions. These include:
- Real time sale and inventory management
- Customer tracking and management tools
- Advanced reporting
- Built in credit and debit card processing capability
- Ability to process orders from the web
- Can support custom pricing including rentals, layaways, weights, etc…
- Detailed inventory and sales reports
- Integrated customer loyalty and gift card plans
- Employee time clock and labor schedule
- Web based back office and reporting functionality
Of course, each system will have their own set of features and functions. Some point of sale solutions may also integrate with popular accounting software programs to help make all types of functions easier. In some cases, you may even be able to configure a system exactly the way you wish.
Businesses Using Point of Sale Solutions
A number of businesses are currently using point of sale solutions. These include restaurants, grocery stores, boutiques, hardware stores, pizza/sub and other food service establishments.
If you have a retail location, then your business can benefit from having an integrated point of sale solution. If you are not currently accepting credit cards, this is an excellent opportunity to start. Many of these systems will at least be able to direct you to a good merchant processor. These types of systems can help you not only increase sales, but make it more convenient for yourself and your customers. After all, what customer wants to wait in line because the store has not perfected a system of checkout and collecting payment? This system will also help improve your ability to manage and control inventory, labor and a number of other functions.