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What are the key features of a point of sale system

What is a Point of Sale System?

What are the key features of a point of sale system

Today, regardless of whether you are a small business or a well-established company, the need to automate processes to make your business more efficient is dominant. Here question arises that what are the key features of a point of sale system to buy?

At present, the implementation of a Point of Sale Software is no longer a luxury, it is a necessity to have a good administration and offer better customer service.

Do you have doubts if you need this technology? Keep reading and discover all the benefits that you can obtain with the implementation of this software in your business. 

Point of Sale Software

It is a software specially created to streamline sales processes where the customer interacts directly, allowing daily transactions and obtaining key information on all registered operations for correct decision making.

Normally, various devices compatible with the software are used, which we call “accessories” and that make it a more operational and agile Point of Sale , these can be: scanners or barcode readers, scales, ticket printers, drawers of money, magnetic stripe readers, RFID scanners among others.

Benefits of using a Software  at your Point of Sale

Some of the benefits that a Point of Sale Software would provide you when implementing it are:

  • Billing and order processing.
  • Sales monitoring and reporting.
  • Inventory and stock management.
  • Cross channel returns management.
  • Customer relationship and experience.
  • Employee management.
  • Loyalty programs and gift cards.

The key is to research and choose the Point of Sale Software that best suits your needs.

What are the key features of a point of sale system

To have Point of Sale Software fully working you will need to know that what are the key features of a point of sale system, these are some: 

Computer equipment

This is where the Point of Sale System is installed that helps you to take control of your business. The computer must have USB connections to connect the accessories such as the printer, the cash drawer and the barcode reader.

 Billing and order processing

A point of sale system must have the fundamental usefulness of billing and order preparing. It ought to have the option to bill orders by scanning products and catching diverse installment modes.

It has the capacity to create order receipt, reproduce and email to end client. Alongside including the discount, client details, extra comments and sales rep’s name to an order.

Customer relationship and experience

What are the key features for point of sale system

A point of sale system can assist you with holding your clients by storing client information and buy history. This can be utilized to give a customized understanding to your client.

Client information is exceptionally valuable for publicizing. As this information can give experiences on which client would be keen on your sale. For Example, sending a deal flyer for “30% off oversized shirts” to the client, who wears a medium sized shirt would be a waste of time.

Code bar scanner

This element is optional, however it would facilitate the daily operation of your business. 

With a barcode reader you can speed up the waiting time of your customers to serve more people in less time since you would only need to scan the barcode of each product and use it during your inventories. 

Ticket printer

What are the key features of a point of sale system

It is one of the essential complements for a Point of Sale , with which you can issue sales receipts, payment voucher and / or cash cut reports and more.

Cash drawer

The cash drawer is an essential piece for your Point of Sale, as it will help you organize the money and of course keep it safe, it awaits the order sent by the printer so that it can be opened when it is sent to print the receipt or note of sale. 

Electronic scales

In case of having a deli section or sale of bulk products, the electronic scale is an instrument that you will need as it will allow you to obtain an indication with exact figures of the products you are selling.

Disadvantages of pos:

Training:

Although point of sale helps to automate and simplify processes, but it requires training for the personnel so that they can operate the system.

Total dependence on technology:

With a computerized Inventory management system, you will be totally dependent on the system. In case if your hardware or hard disk collapse you will lost your all data.

Fraud risk:

Every computer system has the risk of interruption or being hacked. A dishonest employee can commit fraud.

Higher costs:


Clearly, by not being a simple cash register and simplifying several processes of a business. A POS system generates costs, both in software and hardware. In addition, payment must usually be made for a limited time, which includes updates, technical support and warranty.

Security

Although severe measures, for example, symmetric encryption are set up to make e-payment protected and secure, it is as yet helpless against hacking.

Fraudsters, for example, use phishing assaults to fool clueless clients into giving the sign in credentials of their e-wallets, which they catch and use to get to the casualties’ personal and financial info.

Insufficient validation likewise afflicts e-payment system. Without superior personality verification like biometrics and facial recognition, anybody can utilize someone else’s cards and e-wallets and escape without being caught.

These security concerns may make a few people hesitant to utilize e-payment systems.

Summary:

A POS System brings more advantages/benefits than disadvantages. The disadvantages mentioned above can be resolved or reduced if manage the things in a good way. However, there staff should be trained and you should have backup in case of downfall of the system.

How to choose and What are the key features of a point of sale system

You must know the key features of point of sale system which we have discussed above. Also You must choose a System that allows you to have a structured control of all the information that is generated in your business.

With this data you will be able to make accurate decisions to increase your sales and have a sustained growth in your business.

You should analyze the functionalities of the modules of the Point of Sale System to manage your business in an integral way:

  • Cashier function for cashier counts, cash outages and value withdrawals
  • It should streamline your sales process
  • Manage your inventories in an efficient and automated way
  • Accounts Receivable
  • Generate reports of: sales, performance, staff performance, easy access to information (dashboards and graphs) to make decisions with reliable and updated information.

Conclusion:

So, now you got the idea of point of sale software and what are the key features of a point of sale system. It will help you to get best software or system for your business.

The question is not, do I need a point of sale? what you really have to ask yourself is if you want to sell more and be in control of your business. If you still have doubts about the Software, Login into Live POS Software and discover for yourself what it can do for you.  Here is the link : Live POS Software Demo

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