The full form of POS is Point Of Scale.
The point of the scale is the platform may be software or hardware that will allow your enterprise to make sales and deals. The POS will work efficiently for small businesses.
Point of the Scale is the platform where you can ring up clients. Whenever the clients see you online, they visit your counter and pick up the required object or products, the booth where they are is known as POS.
It will permit your business to make earnings from the preferred customers and keep an eye on the sales generated throughout the day. It refers to the record of cash for your store.
The POS (point of scale) looks simple but the whole configuration is different from each other. It depends upon the medium of your sales whether you generate them online or from a file store.
Salient Features Of Point Of Scale (POS)
POS (point of scale) has numerous features and specifications which make it an essential part of a store, these features are as under:
- The customers are supposed to use any methods of transactions whether they are in cash, online payments, credit cards, visa pay, contactless payments, or chip cards.
- The POS system will make a brief analysis about the product which is in demand and needs to be stocked in store.
- You are supposed to know about the report of the sales and total selling of your products. By that, you can make changes and sell more.
- You can easily know about the total work done by your employees, and the all-over performance throughout the day.
- The CMR machine will link to the POS and provide you with the likes and dislikes of your customers which helps you to recommend their favorite products in the future.
- You can provide a proper GST receipt to the customers which can be used for refunding and exchange of products.
Advantages Of Point Of Scale
In countries like India, POS is the best way to boost sales and generate more revenue. Some of the advantages are as under:
- The POS provides you with a digital interface that stores all the transaction records and maintains a proper history.
- There is no fear of scams and any corruption by any employee of your store.
- It allows you and customers to proceed with all the transactions easily and quickly.
- The best thing is that the POS system is cheap and can be installed to both online and offline stores.
Disadvantages Of Point Of scale
- In India, there is difficulty applying POS systems in small stores due to the availability of less space and area.
- Small and new shop owners aren’t able to invest in POS systems, in India most people run their business office and on a small scale which is why they can’t afford POS.
- It requires regular maintenance and service which is cost-effective and all business owners can take that expense.
- It reduces the work of humans that directly affects employment, people who are involved in accounting and managing were unemployed.
All over in the coming years, you are supposed to see the POS system on almost all stairs. The world is evolving and new technologies are reducing human efforts and saving time.