Understanding POS System Basics
Point of Sale or POS is known in other terms as check-out or as cash wrap and this is mostly the location of a store or a restaurant with where transactions on the exchange goods and services happen. A POS mostly refers on the physical electronic hardware and peripherals that are being utilized for conducting transactions. A hardware like this would include a cash register, a reliable computer and likewise a mobile smart device. A Value Added Reseller (VAR) usually interchangeably utilize POS if they discuss on the hardware and also on the checkout location. The credit card industry will also add on the confusion. Merchant service providers that have credit card transactions and Independent Sales Organizations (ISO’s) usually refers on standalone credit card terminals as a POS. The POS will be the peripheral that reads the credit card, sends transaction data between the store and credit card, sending out transaction data with the credit card processor and store and issues a receipt once this is approved.
The first POS hardware was a mechanical cash register which have been invented by James Ritty in 1879, which is a saloon owner. It’s purpose was actually to keeping clients and employees honest. It can be hard to find a mechanical cash register nowadays because most POS systems are actually now electronic, which means that it now uses a computer system or a cash register system. There are cases sometimes to where an electronic POS is called as ePOS. Electronic cash registers will help to streamline some end of day calculations which shop owners need to do daily. These are only used at shops who have not been automated, requires a backup system or does not have a lot of transactions daily.
The POS system actually is a hardware that is combined with a POS software and also with peripheral devices. This hardware will help a store clerk or to associate manage the sales process. At a basic level, the POS software is going to help manage the transaction calculations.
You could actually get different advantages through a Web-Based Point of Sale (POS) System. These are where it’s compatible with most computers these days that comes with an internet connection, you are going to could get real-time POS solutions, it comes with a much lower cost than the traditional POS systems and this could be customized in order to suit with the needs of your business.
Whatever kind of system you wish to consider, you must do some research on your options carefully in buying any kind of POS system See to it that you assess your business needs, objectives and budget. Doing this will help you to save time and money and helps to increase more your productivity in the future.