Understanding POS System Basics
When talking about POS or Point of Sale, this could be referred to as a check-out or a cash wrap and this is mostly the location in a store to where transactions on the exchange of goods and services happen. A POS mostly refers on the physical electronic hardware and peripherals that are being utilized for conducting transactions. This hardware would include a cash register, a mobile smart device and a dedicated computer. Value Added Reseller (VAR) mostly utilize interchangeably a POS when they talk about the hardware and the checkout location. The credit card industry will also add on the confusion. Merchant service providers to which have credit card transactions and ISO’s or Independent Sales Organizations mostly refers with the standalone credit card terminals as POS. The POS in this case is just the peripheral which reads the credit card, sends on the transaction data between store and credit card processor and may actually issue a receipt when it is 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 purpose of it was to keep employees and clients 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. Sometimes an electronic POS is called 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 only utilized at shops to which have not been automated, needs a backup system or one that doesn’t have many transactions daily.
The POS system is in fact a hardware that’s combined with a POS software and also with peripheral devices. Such hardware is going to help a store clerk or an associate in managing 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 kind of system you wish to consider, you must do some research on your options carefully in buying any kind of POS system Consider the process of assessing your business needs, budget and its objectives. This is going to help you in saving money and time and also on the process of increasing your business’s productivity in the long run.
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