POS stands for point of sale. A retail POS system enables businesses to receive credit cards. Well, you might wonder that a mere card processor does the same. So, how a Point of sales software can offer you differently? Well, from the basic to advanced ones, you will find that there is not much difference to them, except their abilities that all center on sales and transactions. They are known to offer you much more than accepting cards.
Whether you own a retail store, restaurant or a small business, a retail POS system must ensure a good inventory management. Not only you want to keep track of your inventory, you must keep in view other crucial information like sales reports, customer management, and measuring employee’s performance.
What a point of sale software should offer?
Ideally, your point of sales software should be able to offer customized receipts to customers. This is because some prefer digital ones over paper receipt. Other than that, business insights is
one of the key feature that major POS system offers. An access to data analytics and reports will help you identify where you stand as a retailer. You might also want to opt for a feature that can manage your team of employees in an easier way.
For instance, the best POS systems feature each transaction with name of employees and number of hours they worked. This will help you automatically reconcile commissions.
Do you want your business lose out of crucial products? Your POS software should help you with inventory management. While some POS systems will remind you about critical inventory levels, there are some who would allow you to allot inventory orders within the software.
When you want to track a record of your inventory, at the same time, you also wish to track transaction history of buyers. If it’s a return business, it can benefit you a lot.
Why Shopify POS?
If you mostly sell via pop-up shops or trade shows, you may want to employ Shopify POS due to its ecommerce integration and mobile functionality. Since Shopify deducts higher cost per transaction, a high-volume retailer can choose some cheaper alternative that will cost them less.
With technology, modes of transactions and processing payments have been evolved. Being that said, your business should undergo transactions as per your business specific needs.