In the olden days, cash registers were the only way to process a purchase or sale. With every new customer and their entire shopping list, checkout used to take a lot of time. Care also had to be taken when calculating the bill. Manual operation is always at high risk of error. The new computerized point of sale terminal reduces that risk and also saves time.
A typical retail POS system is based on a computer, receipt printer, and barcode reader. The barcode scanner identifies each item and fetches its name and price from the database. The system calculates the total bill by adding the price of each item. Thus, the chance of error drops greatly. The customer can then pay by cash or credit card. The stock is updated automatically too, making the software good for inventory management as well.
Nowadays, mobile POS is also becoming very popular. For example, many stores now use the iPad POS. This helps to make the payment counter mobile. Customers can also be served more quickly. Each transaction is processed by the system at high speeds and efficiencies. The mobile POS is often used in retail stores so that employees can serve the clients on the floor. They can also show the product catalogs to the customers on the mobile devices. Billing and online payments are also facilitated by mobile POS.
With mobile POS, restaurant owners also benefit greatly. They have two options to make efficient use of this system. The first one is that they place a mobile device on each table. The customer can place an order themselves after browsing through the online menu. They can also pay the bill on it once they are done with their meals. The second option is that the waiters could carry their own mobile point of sales. They could take orders and collect payments or feedback on their devices.
Besides functioning as an inventory management system and having other benefits, the latest POS systems also have other advanced features. For example, many systems generate sales reports for managers. This way the stores can stock up on items that are sold in greater quantities. All in all, the versatility of the new point of sales systems is commendable. It makes them an efficient replacement for cash registers. Many business goals such as increases customer satisfaction, higher profits, and maximized sales can be achieved with the help of these systems.