What Is The Best POS System?

POS or Point of Sales enables cash transactions between the company and the client. The POS System helps in processing orders and bills payment. Overall, it’s an online self-service kiosk that is handled by an agent for carrying out transactions. Even a report states that the POS market size is going to reach 11.4 billion dollars by the year 2021.

The complete sales transaction takes place with the assistance of a computerized network. POS is linked to transaction terminals and consists of software and hardware components. Here’s an insight into both of them.

Software Components

Buyers updates and maintenance software
On-Premise POS software
Cloud POS System
Native POS software system

Hardware Components

See products database on Monitor (iPad) or Tablets
EMV compliant, safe credit card reader
Barcode Scanner for getting product details and inventory management
Get paper receipts from receipt printer
Secure your cash in the cash drawer

Features to Look Out in POS System

The right Point of Sales system will simplify cash-based tasks of retail business. Even modern POS Systems includes advanced hardware and software tools. Do you want to integrate the best POS system into your business? If yes, just look out for these significant features.

Food Delivery Friendly

Online Order System

QR Code Self-Order

Order Display System

Support Kiosk Self-Ordering

Compatible with iOS,

Window & Android OS

iWaiter Ordering Apps

E-Menu

Loyalty Program

E-Wallet such as GrabPay

WeChat Pay, BoostPay,

TNG Pay

Mobile Report -

View Sales Record

Any Where, Any Time

Multi-Outlet &

Franchise Friendly

Membership with Point

Collection & Redeemtion

Voucher Management

Promotion Feature -

Happy Hours,

Birthday Discount

Kitchen Display

Report Analysis - Top Sales,

Peak Hours Record, Sales Profit,

Staff Performance

Staff Attendance -

Thumb in & out

Inventory Control

Food Recipe & Ingredients

User Access Control

Restaurant Order Display System

Reporting About Sales Made

Get informed business decisions through detailed sales reporting. The recorded database provides complete information with the presentation of the right figures. Moreover, it helps in generating sales reports based on:

Number of Hours
Number of employees
The total retail amount earned
Items sold by the company
Net profit earned and profit percentage
Gross margin for businesses

Owners also receive instant sales charts and snapshots by using the POS system. Keep track of thoroughly analyzed data to know about the future demands of your products.

Managing Inventory

Opting for POS software improves the user’s efficiency significantly to know about their inventory stock. As it uses a barcode scanner so that businesses can know about stock levels in their warehouse. With every order processed, the stores will adjust the inventory themselves.

Supported E-Wallet Feature

Supported E-Wallet Feature

Other benefits that the POS system provides while managing inventory includes:

Managing stocks according to colors and sizes
Identifying unique inventory serial numbers
Digital scanning and counting of products
Custom reorders from the sellers
Purchases and orders consolidated into one system
Processing inventory returns by customers
Automatic adjustment of the inventory levels

Efficient Management Of Consumers

Business growth depends on excellent customer relationships. The modern POS systems consist of CRM to track consumer data. It provides details about user’s buying habits, deals or offers they choose, etc. It renders complete security as POS has secured credit card readers.

This POS system also keeps track of a customer’s history and details. With customized loyalty programs and offers, you can attract your audiences. It will give a boost and personalized touch to your business.

Seamless Third-Party Apps Integration

You must look into this critical feature before purchasing any of the POS systems. It must help in the smooth operation of third party apps. Like, integrate email marketing software to send bulk customized mail to your target audience. These third-party apps help in automatic sharing of details and eliminate the need for manual work. The retail businesses can choose POS Systems like Lightspeed Retail, Vend, Shopify, etc.

Saving Time and Money

Traditional POS systems require manual entry of data reports that consume much time and needs a dedicated staff too. But, the Cloud POS system can integrate the reports and analytical data automatically. Owners can find details of the target customer group within a few minutes. Even the Cloud POS system does not require much staff, and this saves money too.

Another benefit of opting for Point of Sales system is that the details presented are accurate. It is connected with an authorized computer network. The owner’s controlled access to the system limits the thefts too. It, in turn, saves money, and there is no loss of time otherwise spent on streamlining the accounting work.

Managing The Employees and The Reporting

Modern POS systems provide detailed reports on the working of each employee. This system detects employee performance as every employee needs to enter their code. POS system will record the number of transactions carried out, profit earned, and top employee performers.

Even it helps the owners to assist other employees who are not able to perform well or achieve their targets. These employees will receive training to handle customers that will increase business sales. Other pointers with which this system is going to help you include:

Modifying employees schedule
Rating their performance
Track their weekly working hours and overtime
Addition of new employees to the POS system
Analyzing top-performing employees
Providing detailed reporting

Advanced UI/UX and Cloud System

The modern POS system comes with a unique UI/UX system that enhances the user experience. It reduces errors and speeds up transactions. The leveraging of the Cloud system with the Point of Sales supports in getting detailed customer data seamlessly.

Even the Cloud System simplifies the implementation, monitors the data, alerts about patching, and upgrades. The modern POS system helps with managing operations at the back-end. It also manages financial transactions and functionalities on the front-end.

Choosing the Best Point of Sales System- A Brief View

Now, you are aware of the features of the modern POS system. It will help you to choose the perfect software for your retail store. Look out for the various solutions or services sellers cover in their POS systems.

Be sure to check about prices and flexibility in integrating third-party apps. It will make your research for the best POS system quite easy. List the companies or software providers who are ready to offer a free trial version. It will assist you in checking the workflow and deciding for yourself.

In the end, it is necessary to check out your budget and retail business requirements before buying the Point of Sales system. It will make the search process more comfortable and save your time as well.