Out with the old and in with the NEW. POS Point of Sale is no longer just a cash register at the check-out counter. The POS system has advanced into a complete ‘retail management system’.

A POS system is a crucial element to any retail and hospitality business in this day and age. Technology has taken leaps and bounds just like our population and these advancements have revolutionised businesses, allowing us to give the best in customer service faster and more accurately than ever before.

The capabilities of the POS system have advanced in such a way that they now include;

• Inventory Management

• Accounting

• Employee Management

• Customer management

• Sales Reporting

And these are just the basic must haves for all retail and hospitality businesses.

The retail industry is one of the largest users of POS terminals followed closely by the hospitality industry, but these terminals are now so much more than just the humble old cash register. A POS system can add value to your business with time saving and efficient operations; connecting the front office to the back office, they increase productivity and reduce costs, gather more detailed reporting with better accuracy which leads to greater customer satisfaction because you will know the ins and outs of your business as all areas of business will be connected which totally revolutionises business management.

But hold your horses, you’d think that choosing a POS system would be simple right? Well NO, you can’t just pick any old thing off the shelf and expect it to do what you want. There is no such thing as a “one size fits all” POS system.

But it is made a whole heap simpler if you have done your homework and know the features and benefits you need for your business.

All businesses have different operations, procedures and needs. Your business’s day to day operations may only need some of these things, where as your neighbour’s business might require a few more features in order to run effectively.

So how do you know which POS system is right for you? Here are a few things for you to consider

So how do you know which POS system is right for you? Here are a few things for you to consider

1. Setup costs

2. Required hardware

• Screens

• EFTPOS

• iPad

• printers etc

3. What specific features does your business require?

• Inventory Tracking/management

• Sales Reporting and Analytics

• Customer service and management

4. Decide if you want a cloud-based POS system

This is a web-based software program that enables you to access data, process payments, and get automatic updates all via the internet.

5. How do you want the POS to be used?

• Is it portable (wireless)

6. Does it include simple training procedures?

7. Will the POS system grow with your business? 

Listed below are just some basic components of the POS system for most new retail businesses.

Despite the fact that the retail industry is one of the largest users of POS terminals the hospitality industry has also been revolutionised by the advancements in Point of Sale systems.

Due to their fast-paced demands, hotels require efficient POS systems that can handle their everyday operational demands in order to run top notch management and services.

Some of the added features and benefits that a hotel POS system would include are;

• Table management and reservations – a great addition in managing your front of house operations.

• Fast Bar Operations (bar Tabs)

• Marketing tools (loyalty programs, gift cards & Promos

• Menu and order management and configuration

• Ability to take mobile orders ie the counter, at tables or online

• Mobile register/iPads

• Payment methods to include split bills, add tips, apply surcharges, cash, credit card, accounts

Just to name a few.

So, as you can see the humble old cash register has really transformed into an amazing piece of technology for businesses big and small. But you really do need to know your business requirements before going out and purchasing a POS system, because the “one size fits all” doesn’t apply to these systems and added features and benefits could really make a difference to your business.

Talk to a specialist POS consultant today at Cash Register Warehouse……we are waiting for your call!