This article explains what point of sales software is. It also details how this kind of software is used in the retail and dining industries to streamline business functions.
POS is something everyone has encountered. Whether it was checking out at the grocery store,
shopping at a big retail store, or paying for a meal at your favorite restaurant, you have more than likely interacted with a POS system.
POS of course stands for point of sale. POS systems use computer software that was developed to streamline the checkout process used by businesses. It is used extensively in the retail and dining industries.
In the retail industry, point of sale systems are used extensively. The POS system of a retailer is typically composed of a number of different check-outs that are commonly referred to as “POS units.” These units would make up each customer checkout. Things that are typically included in a POS unit can include a computer, a keyboard, a monitor, multiple printers, and a bar code scanner.
Each unit utilizes the POS software to perform functions such as adding up a checkout total, printing out coupons related to the purchases being made, printing out warranty information, calculating buy one get one sales, and so forth.
Not only is the software capable of performing all these actions, but it is also designed to communicate with other parts of the POS system. For example, a POS unit at a customer checkout can communicate with other computers running POS software located in a back office. These computers could be contacted if the POS unit is making an inquiry about whether or not an item is in stock.
In fact, POS systems can even be designed to communicate with the POS systems of other stores. If the product isn’t available in the location the customer is making the inquiry, he or she can be redirected to another store of the same chain in another location that does have that product in stock.
Point of sale software has also revolutionized the restaurant business. Orders made at a POS unit cash register in a restaurant can be sent back to the kitchen. In the kitchen, the chef will be told by a computer monitor or a printout exactly what was ordered so he or she knows what to prepare. The message may even include exact instructions on how to prepare the dish that was ordered.
The benefits don’t end at just normal business transactions though. Systems that implement point of sale software also have the capability of performing accounting functions and complex business analysis. For example, all sales and purchase made in the POS system will be recorded as virtual ledger entries as credits or debits for accounting purposes. This of course can save on costs related to the accounting staff. Also, the POS software can identify sales trends. This could be useful for knowing when to order products that are only popular during certain seasons of the year.
Point of sale software can also have thousands of other functions. Whatever kind of business you run, it is certain that it can more than likely benefit from a POS system using software tailored to meet the needs of your business.
