What Is a POS Register System ?
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 UK 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 Point of Sale 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 UK POS systems for their business, keeping 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 all UK POS systems. In this regard, the cloud technology is now implemented into UK 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.
How Do POS Systems Work?
POS (point of sale) is a system that facilitate the transaction processes between a customer and a merchant. It facilitates it because it is built in a way to bring the optimal outcome for all the parties.
The setup of the system will always depend on the needs and type of your business, however the basic components are the system's software and hardware. When a transaction takes place, the merchant calculates and indicates the amount, and the customer is able to pay through different options offered by the merchant.
For all the different steps throughout the transaction process, different hardwarwe and software devices are utilized. To calculate the amount, merchants use devices such as: barcode scanners, cahs registers, weighting scales, etc. For the payment procees, touch screens, payment terminals, and other similar devices are crucial. At the end, customers can either end up with a printed receipt or get it sent digitally. Hence, receipt printers are an important component for the first choice.
Why POS System is Important?
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 UK POS systems take care of handling the whole transaction with customers.
- 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.
What to Consider When Buying POS?
An overview of the key advantages of a POS system to help you outsmart your competitors can be found in the infographic below.
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How Do I Choose a POS? Different Types of UK POS Systems
POS Systems have evolved in line with technology. There are a variety of POS systems on the market to fit all the companies. If it is paired with a card payment machine for small business, you can easily reduce the overall cost of your POS system.
This is an overview of the most common types of Point of Sale Systems in the UK:
- ePOS systems (electronic Point of Sale)
- mPOS systems (mobile Point of Sale)
- Cash registers
What is The Difference Between a Cash Register and a POS?
Cash Register is a machine that records transactions, gives change, and holds money. POS, on the other hand, is a modernized point of sale system, that is able to do much more. This computerized system can handle transactions, track inventory, and record all types of data, that can be useful for your business.
What Are the Key Features of a POS System?
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 UK 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.
UK POS System Prices
Depending on the type of business, the range of prices for UK point of sales systems is generally between £650 and £2500. Different key features make the difference in POS system prices.
- Business size
- Hardware components
- Software inclusion
- Warranty length
- Inventory control
- Sales operations report
- Staff management
- Booking system
- Customer database
These functions are not required by every business. Retail shops, restaurants, hotels and beauty salons diverge for the services they offer and change the suitable properties of the Point of Sale system they need. Nevertheless, POS software always plays a leading role in the POS performance.
What Is a POS System For Restaurants?
POS for restaurants is a specialized point of sales system catered to restaurants. If you are a restaurant owner, you know that you need a system that can do more than just processing transactions.
All businesses need the benefits of a good POS system, however, when it comes to the retail industry, POS systems can be crucial for restaurants' growth and thriving. There is a specialised POS system designed to serve the needs of this industry. They come with extra features, and here are the most important ones:
- Inventory Management
- Table Service
- Employee Tracking
- Customer Engagement
- Loyalty programs
- Online Ordering
Where Do We Find POS Systems?
Now, where are they located, you may ask? Just follow the smell of money and when you hear the “cha-ching”, you know you've arrived in the right place. Basically, Point of Sale Systems are located wherever a transaction occurs. Even the cash register of a smaller firm is working with a POS System due to their grant popularity and effciency. They are usually executed in a remarkable range of operating systems such as Windows, Linux, DOS and Unix.
Whilst choosing a POS system, the retailer should principally consider the ease of use, the functionality, the price and the security. First and foremost, a valuable system should offer a balance between the possible features and their accessibility.
Furthermore, you need to take into consideration your budget, it would be best to take a system that can start modestly but grow with your needs. More importantly, the POS system should be able to provide tight control over cash receipts to prevent theft. How will you start a successful business if you are being constantly fooled by the lack of security in your POS system?
Further Considerations on point of sale 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 a 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 UK 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. If you wish to receive professional advice and compare prices, you can easily contact our suppliers and request quotes from them.