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What is Point of Sale ? What is Point of Sale ?

What is Point of Sale ?

The point of sale or point of purchase is the time and place where a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer, and indicates the options for the customer to make payment

"You cannot run a successful retail business from memory." 

by – John Hartford

Retail is as exciting and alive as it has ever been especially with the advent of new technology every day.

Today, if a merchant is not tuned into the need for an integrated point of sale solution that supports sales across any channel and any method of payment, they are at risk of missing the real point of sales.

A point of sale (POS) system come into play as it combines hardware and software in a bid to centralize business operations. It manages the transactions for your business, including credit card processing, and the post-transaction operations that lead to customer fulfilment, whether in a retail or restaurant setting.

POS Systems are best to be used in retail environment in different industries including; restaurants, pharmaceuticals, health industries, Ticketing Systems and super markets. The systems are replacing traditional cash registers because of added functionality where they streamline your internal operations, connect all of the various personnel involved in making your restaurant run smoothly, and automatically track sales, labour, and inventory metrics.

This helps increase revenue, profit, and customer satisfaction while decreasing employee turnover, order mistakes, wait time, and your stress level.

Most of them are with support of different hardware include touch screen, Thermal printers, Label printers, bar code scanners, cash drawers and normal LPT Printers.

The systems also include loyalty programs, marketing and other features to promote the business with support of Mobile/iPad to operate from any hand held devices.

Most POS are using Microsoft Windows Presentation Foundation (WPF), Microsoft Windows Communication Foundation, XAML, C#, SQLite version to get installed easily on different operating systems.

POS systems are developed on the basis of client/server architecture where there remains one common server software that interacts with all the terminals to be used by different operators accompanied with POS hardware.

All transactions are stored on the server and with the help of port forwarding, mobile apps installed on iPad/Tablets are able to communication with POS system. Main features of POS system:

      • Hardware Integrations (Touch Screen, Label and Thermal Printers, Barcode scanner, Pole device, Cash Drawers and Payment Processing)
      • Inventory Management
      • Order Management
      • Stock Adjustment
      • Waste Management
      • Accounting
      • Automatic Backup and Restoring

The best POS systems help businesses increase revenue, tailoring their experiences to meet the customers' needs and improving operational efficiency. The impact on the business can be drastic. In our research, we have seen some companies have experienced:

20% increase in revenue by giving companies access to online ordering and gift card programs, and enabling faster throughput of customers

30% reduction in labour hours by tracking labour costs

4% savings in annual sales by analysing inventory and sales trends to reduce theft

10x more loyal customers by providing loyalty offerings to entice customers to return.

Benefits of Software as a service (SaaS)

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