What is a Point of Sale system?
Point of Sale (POS) system is a combination of hardware and software built to centralize business operations that handle your transactions. It’s more than just a card swipe machine.
Point of sale can be defined as the technology of financial transactions at retail establishments. For instance, the point where you stand at the checkout and buy something and a transaction happen, that point is called as the point of sale. POS also serves as the point of service, as the counter is not only where the customer makes the purchase but comes back for customer support or to return any items.
1. POS system eliminates human errors. It helps in managing and tracking inventory in real time.
2. You can see numbers of items remain in stock easily and can prepare buffer stock.
3. This system simplifies the accounting processes and it can maintain thousands of transactions.
4. It allows adding promotions, coupons, and discounts on the products.