In this article, I will discuss what is the best pos system software for a small business such as retail stores, restaurants, salons, pizza, bars, cafes, liquor stores, etc. Also, I will explain what is a pos system, and how the pos system works.
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What is a POS System and How POS System Works?
POS stands for point of sale. A POS system is a combination of POS hardware and POS software to create a POS machine for processing a transaction and payment.
A point-of-sale (POS) transaction is what takes place between a merchant and a customer when a product or service is purchased, commonly using a point of sale system to complete the transaction. So when you’re at your favorite restaurant or retail shop, and you make a purchase, you are completing a point-of-sale (POS) or a point of purchase (POP) transaction.
The best POS system for your business depends on your company size, industry, budget, and the features you need. There are so many systems to choose from. In this blog post, you will get to know what features you need to be on the lookout for so you choose a system that is perfect for your business and your budget.
Types of POS System
- Restaurant POS System
- Bar & Night Club POS System
- Retail POS System
- Small Business POS System
- Salon and Spa POS System
Key Features of POS System Software
As per analysis with POS software buyers identified key features that retailers and restaurants look for in selecting a POS system:
POS system should ideally be able to:
- Generate detailed sales reports (based on the product, hour, employee, the total cost of items sold, total retail amount, net profit, profit percentage, gross margin).
- Provide quick snapshots and charts on your store’s sales performance.
POS system should enable you to:
- Scan and count products digitally.
- Manage your stock by creating product variations (size, color).
- Identify pieces of inventory with a unique serial number.
- Track inventory levels across multiple locations.
- Enable seamless ordering such as automatically setting custom reorders of best-sellers.
- Consolidating purchases and orders in one order.
The POS system should give you the ability to:
- Attach a sale/transaction to a customer.
- Keep track of your customers’ purchase history.
- Capture customer information such as name, age, birthday, phone number, and email address.
- Use email marketing to keep in touch with them.
- More advanced systems will have a built-in loyalty program.
POS system should give you the ability to:
- Add employees to your system.
- Create and modify schedules for employees based on forecasted activity.
- Email schedules to employees.
- Track employees’ hours weekly and overtime.
- Analyze who your top performers are.
Now the next step to Buy a POS System Software.
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