Point of Sale: What it is?
A point of sale (POS), or point of purchase, is a simple system to manage sales, stock and inventory. It is a web application that allows the retailers to track customer or suppliers and keep accounting records. Also, it allows a customer to execute the payment for goods or services. Taxes and other applicable charges are payable through a POS terminal and systems by processing card or virtual sales point connected to a computer or mobile electronic devices. Globizs POS is more than just processing payments it serves as a total management for stocks, accounts and a marketing tool. Read more to understand its features.
Benefits of Point of Sale Systems
POS software systems allow streamlining the retail operations. It automates the transaction process and tracking important sales data. Usually a basic system includes an electronic cash register and software to coordinate data collected from daily purchases. The functionality of the system can be increased through customisation of the application and also by installing data capture network like card reads or barcode scanners.
The software application allows retailers to track pricing, inventory, revenues, sales, customers, suppliers, etc. it helps in easily identifying or tracking any omission, errors and discrepancies. The application helps monitor inventory levels and buying behaviours of the customers and also helps in avoiding customer service issues arising out of out-of-stock, offer prices, discount, etc. Target marketing or tailored purchases are possible through this system.
The POS system can be installed in one system and connect through multiple system through the internet. The parent system will now then acts as a server. It will become a single point stock management system. Permission base access can be provided to multiple users.
Gift-card or loyalty card features are part of the software. Mass marketing techniques like emails or SMS can be integrated as per the need of the retailers.
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