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. The Point of Sale System usually refers with the physical electronic hardware and peripherals which are used on the process of conducting transactions. A hardware like this would include a cash register, a reliable computer and likewise a mobile smart device. Value Added Reseller (VAR) mostly utilize interchangeably a POS when they talk about the hardware and the checkout location. The credit card industry also adds with 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. A POS will only be the peripheral that will read the credit card, sending transaction data between the credit card processor and the store and is able to issue a receipt once it will be approved.
The very first POS hardware was actually a mechanical cash register that have been invented by a saloon owner named James Ritty in 1879. The main reason of it is in keeping employees and clients honest. It’s in fact hard to find a mechanical cash register these days because most POS systems are electronic, which means that it uses an electronic cash register or a computer system. Electronic POS is called sometimes as ePOS. An electronic cash register is going to help to hasten some end day calculations that shop owners need to conduct daily. These are just being utilized for shops that are not automated, will need backup systems or doesn’t have many transactions daily.
POS systems are actually a hardware which in fact is combined with a POS software and also with peripheral devices. A hardware like this is going to help This kind of hardware will actually help store clerks or perhaps the associate to 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 is to where it is compatible with most computers nowadays with an internet connection, you will get real-time POS solutions, cost less than a traditional POS system and is also customizable for suiting the needs of your business.
Whatever the kind of system you plan on buying, it’s best to make sure that you effectively do research on the options carefully before you consider buying any type of POS system. See to it that you assess your business needs, objectives and budget. Through this, you are actually going to benefit your business through saving time and money and increase the productivity of your business.