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Point of sale or POS simply refers to the specific place and time that a sales transaction takes place. That said, an Ecommerce POS/EPOS system refers to the software and hardware that manages that sales transaction including, receipt printing, credit card processing and more. It is a bit more complex than a cash register as it captures customer information, manages inventory and even reports employee productivity. It basically records every transaction when it happens, so all your inventory data will always be up to date. You will also get more data about the transaction than you would with a manual system and by running these records, you will be in a better position to make more informed decisions about merchandising and ordering.
From a retailer’s perspective, a POS system merges various company sales channels into one. And from a c buyer’s view point, the pricing, the available stock of items and the order process will appear uniform regardless of the method they use to order. Internally in the business, the supply chain integrates instantaneously and different people from different departments can access the data through identical software programs. Whether a client orders in person, through an internet application, through email, or by phone, its impacts on the system are immediate, consistent and reliable. Orders usually flow into the POS system through barcode scanners, websites, touchpads, touchscreen monitors and keyboards. They also accept payments through online payments websites, checks, coupons, customer credit, credit cards and so on.
A POS system consists of payment devices, order peripherals, computer hardware and most importantly software applications responsible for accounting, distribution, stock control and order fulfillment.
On premise: This is a traditional model where a retailer purchases licenses for different POS software and then installs them in his or her computer servers or system. The owner is responsible for maintaining and updating the software.
Cloud-based: They work as a service where you access and support the software through the internet. Most cloud based software track sales and integrate them even when the internet is down, so you don’t have to worry about losing important data.
-Register screen: Displays the database. It also supports other important functions such as viewing of sales reports and employee clock in.
-Barcode scanner: Adds product information to the checkout total. Some also synchronize with inventory management applications to automatically change stock levels whenever a purchase is made.
-Credit card reader: EMV compliant and secure credit card readers are very important for any retailer. They help prevent losses through fraud liability.
-Receipt printer: Although text and email receipts are becoming very popular, paper receipts are still essential for providing clients with a quick and immediate snapshot of their purchase. You can also print sales totals, employee sales hours and other important information.
-A user can scrutinize sales records and find out how specific items are selling and then adjust buying levels accordingly.
-A user can easily evaluate the business’s sales history on various occasions and then fine tune your purchasing choices for seasonal purchasing trends.
-You can enhance pricing accuracy by synchronizing credit card authorization ability and bar-code scanners with the point of sale system
-You can have a quick view of your inventory as most systems usually come with add-on tools including accounting modules and inventory control systems that allow retailers to view stock and cash balance sin real time. In other words, An Ecommerce POS / EPOS System is simply an all-inclusive way to track your business’s cash flow.
-Increases productivity
-They help you avoid stock loss and overstock situations, similar to fashion POS/EPOS Systems
-Improves discount and profit management across multiple channels which enhances profit margins
-POS system’s marketing and sales evaluation helps adjust campaigns and techniques
-Streamlines business data for various departments, particularly marketing and accounting
A good POS system should be easy to use and affordable, especially for our ebay POS/EPOS Systems. It should also do much more than simply processing sales and accepting payments. It should come with additional features like staff management, task information, customer data collection, marketing tools and inventory management. The tool should also have a 24/7 client support for your type of business.
Although different businesses have different needs, almost all POS systems have the same goal: To facilitate and provide information about a sales transaction. There are also industry tailored packages including those for beauty and nail salons, auto rental repair shops, dry cleaners, video rental stores and so on. In addition, there are some POS developers that can develop customized POS systems.