A point of sales system can best be defined as the central component of any single business. But this does not imply that it is necessary a single item. The POS is a combination of both hardware and software solutions.
They are the most critical components of such a system. They work in tandem to simplify your everyday business operations.
Important Components of Point of Sales Systems
Software components can be deployed in two main ways:
- Cloud-based: commonly referred to as SaaS solutions. Support and access to the system are done via the web. You do not have to worry about internet lose when using the SaaS solutions. The system will keep track of all transactions performed and sync when you get back online.
- On-Premise: This is your typical traditional software solution. You need to purchase a few licenses upfront before installation. The install is done on your server or computer system. Regular maintenance and updates have to be performed. You may, therefore, be required to have a dedicated IT team.
You will use a similar deployment method as that of your software solution. For your point of sales system to run efficiently, ensure you have these hardware components in place:
- Register screen: All you require is a standard monitor that displays your product database. Make sure to enable additional functions like sales reports and clock-in times. Tablets are a better replacement for the traditional bulky monitors.
- Credit and debit card readers: You need a card reader that is secure and EMV compliant. Failure to ensure that the card reader could lead to massive losses on account of fraudulent transactions.
- Cash drawer: Even though it is likely to fade away in a few years, cash is still king. As long as people are still using cash to pay for transactions, you need to ensure that it is safe.
- Barcode scanner: Having a barcode scanner assists in automating the checkout process. A scanner will pull the product barcodes and add them to the total amount. You could also integrate the scanners with your inventory managers. This assists in automatically adjusting the stock levels.
- Receipt printer: Text and email receipts have of late gained a lot of popularity with many retailers. But paper receipts are still in use and assist in providing a client with a snapshot of the products that have been purchased.
As a retailer, you stand to benefit a lot from the organization and automation services offered by a point of sales system. Ensure you understand how they all work together to assist you to make better use of them.