Point of sale systems are more than just a cash register
A point of sale, or POS, system allows businesses to sell goods or services to customers and accept payments. The systems usually consist of both hardware (e.g., terminals, card readers, registers, receipt printers, etc.) and the operational software. A business that’s solely online might not need any hardware, but would utilize the software.
Many systems also include capabilities for accepting and processing credit card payments, collectively called merchant services.
There are many types of POS systems
There are many POS systems available, with a variety of features that go beyond just completing a sale, like support for both brick-and-mortar and online storefronts, marketing and customer retention activities, inventory management, employee management, financial management and more.
Many POS system providers have specifically-designed products for retail and food service businesses. Retail POS packages usually include features that help manage inventory, purchase history, returns and more. Food service POS packages usually include features that help manage reservations, server assignments, menus, tips and communication between the front of the house and kitchen.
POS systems can be based on-premises or in the cloud
POS systems can be either on-premise based or cloud based. Compu-Gen Technologies can help you figure out the best basis for your business needs.
Cloud: Cloud-based systems are most common today. These systems operate and sync information across multiple POS terminals, usually with both mobile and desktop access points. Their flexibility typically means they’re the better solution for businesses with multiple terminals or multiple locations, businesses not necessarily tied to a specific location and online businesses.
On-premises: Less common are on-premise systems. On-premise based systems can only be accessed on the terminal where the system is installed, thus working best for very small businesses that need just one terminal.
Many different kinds of organizations can use POS systems
Businesses and organizations in many industries use POS systems. The most common are:
But, really, any organization who accepts payments for goods or services is a candidate for a POS system. Consider this example of a school system and their gym’s concession stand:
Most likely, inventory is managed manually; it works, but it’s time consuming and inefficient with little insight into historical and future consumption patterns that might change how the inventory should be ordered/reordered.
They probably also use a cash box; it works, but it’s not the most secure and, as we become a more cashless society, there’s no way to accept card payments.
A POS system could be a good investment.
Should my business or organization consider a POS system?
If you’re manually managing inventory, sales/orders, team members, reservations or other key components of your business, it’s time to consider implementing a POS system.
Compu-Gen Technologies offers point of sale systems designed specifically for your needs
Compu-Gen Technologies works with multiple POS vendors and can help design the right system for your business, both today and as you grow. We install the system components and are always there for you when you need support. And, we also offer low-cost and secure credit card processing via our Merchant Services solutions.
And, we offer an entire suite of solutions to create a holistic system for you including video and other security systems, managed IT support and telecommunications.