Frequently Asked Questions About Point of Sale Systems
If you're thinking about starting your own small business, or you're a small business owner who is using a manual cash register system, you may want to consider the benefits of a point of sale (POS) system. These are automated systems that allow you to process credit cards and debit cards in a short period of time. Here are the answers to some frequently asked questions about this type of system, to help you better understand how it can add value to your business.
What Exactly Is a POS System?
A POS system is a retail system that typically features a digital cash register with a digital display screen, which can also be a computer monitor or a tablet such as an iPad, a printer that generates receipts and a barcode scanner to quickly and easily scan items with pre-printed barcodes. The final component of a POS system is a credit card or debit card reader that sends transmissions electronically that are instantly authorized and approved for transactions.
How Does a POS System Make My Business More Efficient?
Because a POS system records all your transactions in live time, you are able to keep track of daily inventory in a very accurate manner. This helps you decide what products are selling well, what products need restocking and what products are not as popular as you might have projected. And because POS systems often include accessories and options such as electronic ledgers, accounts receivables, accounts payable, purchasing and inventory control, you can obtain all the necessary information to keep your business running at a high level.
Is It Better To Buy POS System Software Before I Buy the Hardware?
You should try to buy the software and hardware at the same time, and if possible, from the same manufacturer. If you buy POS system software before you buy POS system hardware, or you do it the other way around, you may find that the hardware and software are not compatible. For example, some barcode scanners may not operate with iPad software, which means you will have to swap out the scanner for something calibrated to the iPad software. Buying software and hardware from the same manufacturer eliminates the issue of compatibility, because they are bundled together.
What Should I Consider Before Buying a POS System?
There are many POS systems on the market, but in general, you need to take into account the amount of inventory you have, the number of daily transactions and, most importantly, how much technical support you will need. Setting up a POS system is complicated, and a support service can configure it all for you and provide assistance when anything goes wrong with inventory, authorizations or software glitches. If your business doesn't do high volume sales, then a budget POS system is sufficient. If your business handles medium or heavy sales on a daily basis, you need a high-end POS system with ongoing customer support.
For more information, contact a local point of sale systems provider like Austech Weighing Pty Ltd.