What is POS?
POS is an abbreviation of Point of Sale. An ePOS system is an electronic device used by retailers, caterers and professionals to register income transactions and cash flows. POS systems work as cash registers, however, they have a lot of functions that make businesses run easily and efficiently.
If you want to get professional advice on POS systems, Market Inspector is here to help you with a free service. Let us know about your needs and preferences by filling in the form on the right side of the page. Our suppliers will provide you up to 4 non-binding quotes purposely tailored to your business.
Brief History of POS Systems
Over the last years, there has been an important development in the POS technology together with the evolution of the means of payments. Nowadays, we can benefit from ePOS systems (electronic Point of Sale) and mPOS systems (mobile Point of Sale).
But the history goes back to 1970s, when IBM introduced the first POS system, which was supposed to replace cash registers.
Most retailers at that time did not buy POS systems for their business, keeping either old fashioned cash registers. They later switched to the modern versions of POS systems. At present, when mentioning POS systems we refer to ePOS systems.
Smartphones and tablets are an innovation of the last decade and are becoming an integral part of POS systems. In this regard, the cloud technology is now implemented into POS system thanks to POS software.
The wireless connection and the mobile technology bring new advantages and opportunities to businesses that weren't feasable with old POS systems.
Why To Invest in a New POS System
There are many ways a new modern POS system can make your daily work easier. By having the correct setup you can save time and money. Modern POS systems take care of handling the whole transaction with customers and not only.
- POS systems save time by automatically performing tasks that were made manually.
- Checkouts are faster. Customers no longer have to spend a long time queuing.
- Tracking inventory is now easier. There is no more need to do it by hand.
- Customer service management has improved with all the features
- Customer satisfaction is rising thanks to loyalty programs and tailored promotions.
- Businesses are more efficient, thanks the advantages mentioned above - saved time, analysis of data, reports, customer loyalty programs, efficiency of human resources, easier tracking of inventory, etc.
Different Types of POS Systems
POS Systems have evolved in line with technology. It exists many versions of POS systems that can fit all the companies. This is an overview of the most common types of Point of Sale Systems:
- ePOS systems (electronic Point of Sale)
- mPOS systems (mobile Point of Sale)
- cash registers
POS systems have key additional features depending on the business type: what is needed by retailers is not necessary for restaurants and vice versa. It is a good idea to think about the needs of your company before buying hardware, POS software or peripherals (terminals, printers, barcode scanners, etc).
A POS system is an important investment, it will affect every business process, and will stay in your company for a longer period of time, therefore it is not wise to choose hastily.
Get more information and professional advice for free from POS system suppliers. You just need to fill out the contact form on the right and you will receive up to 4 non-binding quotes customised to your business.
Further Considerations on POS Systems
The weak point of POS systems is the fact that they are computerised devices and therefore susceptible to crashes and errors. Since they are connected to the Internet network, malware and viruses from third parties may affect your POS system and data might be in danger.
While it is hard to avoid crashes, there are some ways of avoiding a virus or malware - installing antivirus software, downloading legitimate apps, keeping the used device updated and locking the device every time it is not in use.
The best solution to be safe from crashes is investing in quality POS system. Buying the cheapest solution might result in higher repair costs, inefficient business processes and loss of customers in the end.
Do You Want to Get Quotes on POS Systems?
Having a POS system will definitely make your daily operations more efficient. There are several voting options and we know that the search to find the ideal solution for your business could be time consuming. For this reason, we provide a free and unique service. So if you wish to receive professional advice and compare prices, you can easily contact our suppliers and request quotes from them.