"Point Of Sale" Management In The Retail Sector
WHAT IS IT?
Point of sale is the location where a transaction occurs. A "checkout" refers to a POS terminal or more generally to the hardware and software used for checkouts, the equivalent of an electronic cash register. A POS terminal manages the selling process by a salesperson accessible interface. The same system allows the creation and printing of the receipt.
POS AT RETAIL
A Retail Point of Sales system typically includes a computer, monitor, cash drawer, receipt printer, customer display and a barcode scanner.
It can also include a weight scale, integrated credit card processing system, a signature capture device and a customer pin pad device.
More and more POS monitors use touch-screen technology for ease of use and a computer is built in to the monitor chassis for what is referred to as an all-in-one unit. All-in-one POS units save valuable counter space for the retailer.
The POS system software can typically handle a myriad of customer based functions such as sales, returns, exchanges, layaways, gift cards, gift registries, and customer loyalty programs, BOGO (buy one get one), quantity discounts and much more.
POS software can also allow for functions such as pre-planned promotional sales, manufacturer coupon validation, foreign currency handling and multiple payment types.
The POS unit handles the sales to the consumer but it is only one part of the entire POS system used in a retail business. “Back-office” computers typically handle other functions of the POS system such as inventory control, purchasing, receiving and transferring of products to and from other locations.
Other typical functions of a POS system are to store sales information for reporting purposes, sales trends and cost/price/profit analysis.
Customer information may be stored for receivables management, marketing purposes and specific buying analysis.
Many retail POS systems include an accounting interface that “feeds” sales and cost of goods information to independent accounting applications.
With the invention of such technology, the sales over the counter has become easier for the customers and for giant retailers
WHAT IS IT?
Point of sale is the location where a transaction occurs. A "checkout" refers to a POS terminal or more generally to the hardware and software used for checkouts, the equivalent of an electronic cash register. A POS terminal manages the selling process by a salesperson accessible interface. The same system allows the creation and printing of the receipt.
POS AT RETAIL
A Retail Point of Sales system typically includes a computer, monitor, cash drawer, receipt printer, customer display and a barcode scanner.
It can also include a weight scale, integrated credit card processing system, a signature capture device and a customer pin pad device.
More and more POS monitors use touch-screen technology for ease of use and a computer is built in to the monitor chassis for what is referred to as an all-in-one unit. All-in-one POS units save valuable counter space for the retailer.
The POS system software can typically handle a myriad of customer based functions such as sales, returns, exchanges, layaways, gift cards, gift registries, and customer loyalty programs, BOGO (buy one get one), quantity discounts and much more.
POS software can also allow for functions such as pre-planned promotional sales, manufacturer coupon validation, foreign currency handling and multiple payment types.
The POS unit handles the sales to the consumer but it is only one part of the entire POS system used in a retail business. “Back-office” computers typically handle other functions of the POS system such as inventory control, purchasing, receiving and transferring of products to and from other locations.
Other typical functions of a POS system are to store sales information for reporting purposes, sales trends and cost/price/profit analysis.
Customer information may be stored for receivables management, marketing purposes and specific buying analysis.
Many retail POS systems include an accounting interface that “feeds” sales and cost of goods information to independent accounting applications.
With the invention of such technology, the sales over the counter has become easier for the customers and for giant retailers