Solution Overviews » Sales » Point of Sale (POS)

Point of Sale (POS)

Author: TechShortcut Staff | Article updated: July 5, 2008

1. Overview

Point of Sale (POS) systems are much more than cash registers. In retail, the POS can track item information and communicate with your inventory software so you don't have to do a physical inventory. You will also have flexibility to make price changes as needed because it can be done within the software. Because most POS systems integrate with existing accounting software, you will be able to check your profits for the day, compare sales to a prior time period and identify your businesses' most popular products or services.

Benefits

Flexible price changes
Instant visibility of sales and inventory information
Increased security

Considerations

Integration with Accounting Software
The accounting system is usually needed to store the sales data and inventory changes so you will need to ensure that the point of sale software is compatible. Integration can be complex and time consuming so it is in your best interest to make sure that it is as seamless as possible. Some accounting applications include POS packages so be sure to check with your current accounting application.
Hardware Compatibility
POS software may be designed for certain hardware.
Niche POS
If you have a retail business you will want a retail POS. If you have a restaurant then you will want a restaurant/hospitality POS. Hospitality POS may also include the ability to display or print orders for the kitchen.

Features

POS systems will usually add the following features in addition to storing cash, printing receipts and doing the math.

Credit Card Processing
Accept credit cards and debit cards.
Track Inventory
Barcode scanners look up item numbers to display pricing and track inventory.
Track Customer Information
Track customer zip codes and contact information.
Reporting
Reporting may be included in the POS software or facilitated through accounting software integration.
Security
Assign different levels of security to users.
Loyalty Cards & Gift Cards
Track points for discounts for participating members or create your own gift cards.

Implementation Options

1. In-House POS	2. Internet POS Service
All the equipment you need is installed and managed in-house.	While some equipment is still needed locally, much of the tracking is done via the Internet.

2. Option Comparison

	1. In-House POS	2. Internet POS Service
Requirements	n/a	Internet connection
Anywhere Anytime Access	Possibly if the computer or network is accessible via the Internet	Yes
Cost Factors	Hardware
	Computer, printer, cash drawer, credit card reader, scanner and display monitor may be needed. A network may be needed for multiple terminals.	Computer, printer, cash drawer, credit card reader, scanner and display monitor may be needed. A network may be needed for multiple terminals.
	Software
	Point of Sale software	n/a
	Labor
	Installation, configuration and maintenance	Installation and configuration
	Services (approximate costs)
	None	Usually a fee per month

3. Next Steps

Internet-based POS services are relatively new. You will get out of software upgrades and may save costs but you could be adding a bit of downtime risk if your Internet connection is not reliable.

	1. In-House POS Software	2. Internet POS Service
Find Local Tech Specialists Search TechShortcut's tech profiles for specialists in your area	"Point of Sale" POS
Find More Information Use Research Helper to find related web articles	"Point of Sale" POS software Restaurant "Point of Sale" POS software	Online "Point of Sale" POS Online Restaurant "Point of Sale" POS
Examples of Products and Services These are not endorsements, simply some product or service names we encountered in our research to get you started finding your best fit.	General Retail: pcAmerica Point of Sale Intuit QuickBooks Point of Sale AccuPOS Point of Sale Hospitality: Coffee Shop Manager	General Retail: effortlessE SquashPOS

1. In-House POS Software

2. Internet POS Service