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Advatanges of Point of Sale System

Point of Sale vs Cash Register

Benefits of a Point of Sale System compared to a Cash Register?

Highlighting the benefits of a point of sale system over a cash register…

Cash and credit cards are the main source of income for business owners, and every business owner needs a management system to process both. POS (Point Of Sale) and ECR’s (Electronic Cash Registers) both accomplish point of sale operations, but they do so each at vastly different price ranges and capabilities.

ECR’s have long been relied upon in the  retail and hospitality industries, and still today some retailers, restaurants or small food truck, owners continue to use them. The question is, why? Perhaps it’s the familiarity of the old breed, that keeps owners hanging onto their keys and paper rolls? Or, perhaps the fact that ECR’s provide a somewhat decent life span - 5-7 years, with occasional maintenance, and are relatively cheaper.

Whatever the reason, for their ‘stickability’, industry standard is fast realizing - that POS systems are the natural evolution to the ECR.

Apart from making transactions much easier and giving today's retailer competitive edge through the ability to run database marketing, POS systems possess the ability to turn your ECR into a simple business management solution.

Benefits of a Point of Sale system #1: Sales Reporting.

Another thing every business owner needs is the ability to pull reports. POS systems store and manage information quickly allowing you to pull up information anywhere, anytime you want - giving you crucial insights into your business on the fly.

This can mean the difference between your business getting ahead or being left behind. Being able to track sales by department, items, hours, labor costs and customers is crucial to business development.

Benefits of a Point of Sale System #2: Faster Transaction Times.

Point of sale devices provide simpler and faster transactions than old fashioned cash registers. Every part of the transaction, from scanning, modifying and completing transactions using a barcode scanner, to authorizing credit cards and printing customer receipts. Every part of the transaction is faster, and scanning can be up to 20 times quicker than manual entry.

POS also streamline the process when it comes to performing, refunds, no sales or voids.

Benefits of a Point of Sale System #3: Much Easier to Train On and Lowers Human Error.

Most of the times, trying to operate a cash register is like trying to navigate through a maze, with all those clunky, and mislabelled buttons. Many of them not labelled at all. This holds special sway over the modern worker of today who is much more accustomed to technology and never knew a time without computers. POS systems are much simpler to use, using intuitive interfaces that are programmed for user-friendliness and are often designed to be integrated with tablets and other touchscreen devices which will allow your POS system to keep in step with your business as it grows.

On average, employees make one error on a cash register for every 300 characters typed. The error rate for barcodes scanned? One error for every 15000 to 36000 trillion characters scanned. 62% of global consumers do not return to a store after a bad customer service experience. The ease-of-use and simplicity of a POS system reduces human error thereby improving customer relations and saving the business money,

POS systems save a business a lot of time as well. Entering wrong information on an old cash register (wrong price, wrong item sold et) can lead to huge internal problems. Point of sale devices have built in checks to ensure that the information is entered accurately and pricing is easy to retrieve or change right since all information on a POS system is stored on a database.

Advantage of POS

Benefits of a Point of Sale System #4: Real Time Inventory Tracking.

You can see real time inventory with a point of sale device, which you cannot do on a cash register. You can then use this real time data to get very accurate inventory counts and see how your products are moving.

You can see real time inventory with a point of sale device, which you cannot do on a cash register. You can then use this real time data to get very accurate inventory counts and see how your products are moving.

POS systems usually offer two types of inventory methods.

Perpetual and periodic.

Perpetual inventory keeps a count of how many items you have in your business by reducing the number of items as they are scanned at the checkout.

Periodic inventory keeps a track of many items you have in your business by allowing you to pull reports every year, quarter or month and compare them to your sales records.

Further Benefits of a Point of Sale System

POS systems put you in control of your business. They allow business owners to keep up with the pace of business and customer management, while lowering cost of doing business,  and increasing productivity. This at the end of the day, is good for the bottom line.

If you would like to further discuss the benefits of a POS system with one of the markets leading suppliers feel free to contact us.

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