What is A POS?
A point of sales system is an automatic sales software which enables the cashier to input the product details, tally the cost of product and get the full details of the financial transaction in the pos system.
Reasons: Why Point Of Sales System Is Required For Your Retail Business?
What’s the need of POS Software?
It helps in tracking your inventory, to enable you to create order list of customers, and obviously your customer’s details.
We can take into considerations the following points to ascertain why point of sales system is required for your retail business?
Which are as mentioned below:
Sales history: with the help of point of sales system you can keep a track on the past transaction which gives you the detail about the products that have been stuck on your stores shelves for weeks as well to provide information about the fast selling products to make your management of inventory
Inventory management: As we know that inventory management is a time consuming process for the most of the stores because of the fact there are a number of items in a store with different size s, colures, flavours and volumes. So a POS provides you help in getting accurate sales, and lets you control your purchase orders. Thus it enables you to know the stock available for each product with your store.
Sales in real time: It helps out to know how your store is running in your absence. It helps in giving information about the overall sales made in a day and what are the individual sales made by the employees.
POS Systems: It helps you in providing customised reports and the relevant information you require just sitting at home. You just don’t to need to get back your store for getting the reports.
Saving time and money: POS Systems makes the process of transactions faster as it saves your time in right from reading the bar code to carrying out the credit transactions with the help of internet, thus saving your time.
Sales tax and accounting process: it helps in to handle the entire process of calculating the tax on the products sold in the store and do the accounting for them accordingly.
POS Software: Most of the POS Software are generally equipped with the require accounting modules, which generally consists of account receivables, payables, and some other features also.
Financial controls: POS software can be helpful in implementing financial control measures required for your store. For example it helps in managing your creditors and debtors properly. It also helps to manage your instalment plans for new store.
Management and ERP system connectivity: POS terminals could be connected with other terminals for example you could plug in with ERP terminal to manage everything right from managing your sales, inventory or account receivables and much more.
Gives information to every one: It gives information to everybody right from the customer to cashier and to the employee who is managing the store. It can help the cashier to know what items they have put in sales; it provides the information to the management as to what they are selling, and to whom the goods are being sold. It provides the customers with a sale invoice with details of the products they have bought from your store.
So after analyzing the above reasons you can understand how POS system can play an impotent role for improving your retail business sale.