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Point of sale (POS) system is the spot where your customer makes the payment for goods or services that are offered by your company.
Point of sale systems are systems that enable the business transaction between the client and the company to be completed. POS system is a computerized network that consists of the main computer linked with several checkout terminals and supported by different hardware features starting from barcode scanners and ending with card payment terminal
A POS system gives you a good overview of your business and keeps record of its cash flow automatically. Data about a product range can be found easily.
From advanced reports you can clearly identify which product categories are the most and the least profitable. Knowledge which departments and items are not performing well can give you the opportunity to develop a sales strategy
Another benefit of POS system lies in keeping track on the delivery and all goods going out of your store. The system continually tells you how much a specific product has sold and exactly inform you on what you have in stock. This allows the POS system itself to submit orders to the suppliers when the inventory is nearly empty. Therefore, there is no need to have an employee spending time on doing it.
Price can be changed for a product and it will automatically be updated in the entire system, so prices always look the same throughout the entire process. Therefore, the company ensures that prices always matches the given customer price and avoid dissatisfied clients.
A POS software can be used to check the additional sales conducted by each employee. However, it can also be used as a managerial tool and as a reward criteria. By doing that employees will get more motivated and more effective. Therefore, sales will increase and the customer service will be improved.
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