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- What is a Point of Sales System and the advantages for my business?
The Point of Sales System (also known as POS) is where retail transactions are completed and recorded. It is the point at which a customer makes a payment to the merchant through a business transaction and at that point the business transaction would be translated in terms of amount owed and provides various methods of payment. There are four main benefits of POS which include:
Inventory: Point of Sale system allows you to categorize your inventory and make searching for specific merchandise more efficient.
Control: POS systems give the ability to digitally record sales volume, inventory and performance to ensure the business is running at maximum efficiency even when you're not presently on-site.
Customer Relationship Management (CRM): The POS makes it possible to collect client data which can be utilized in many different aspects of your business like customer retention, incentive programs, or even targeting advertising.
Reports and Analysis: POS systems give you the opportunity to analyze sales data so that you can measure the effectiveness of pricing or promotions. Historical data can also be utilized to project future sales forecast or used as a benchmark for sales in future years.
- Should I buy Point Of Sale hardware or software first?
The biggest mistake retailers make when choosing a new retail POS system is buying the hardware before the retail software. The retail software may have compatibility issues with certain POS hardware. You must determine which software your retailer will operate with and cater your POS hardware accordingly, but the ideal scenario is to purchase both software and hardware from an individual retailer. Here at FrontierPC we offer both POS hardware and software solutions to ensure compatibility between products.