Retail is one of the largest private industries in the world which significantly contributes in country GDP and employment generation. This sector shown tremendous growth in past 10 years from unorganized retailing to organized retail format. Increase in consumerism, globalization & liberalization of economy have encourage every big name of business world, manufacturers and even foreign investors to make their entry in retail format. With this growth and competition in retail market , retailer either big or small, national or international are heading towards implementation of new technology solution that reduce costs, streamline process and enables new sales & services opportunities.
Implementation of POS SYSTEM for handling day to day store operation is one of the greatest moves shown by the retailers in recent times towards organized, efficient and effective retailing.
What is POS SYSTEM? POS system stands for POINT OF SALE SYSTEM. A retail point of sale system typically includes a cash register (which in recent times comprises a computer, monitor, cash drawer, receipt printer, customer display and a barcode scanner) and the majority of retail POS systems also include a debit/credit card reader. It encompasses almost every function done at retail store from order processing, bill generation, inventory tracking, products ordering, reports generation to customer tracking.
It is now became the core management tool for every retail business irrespective of its size or nature of business. It provides new height; new dimension and new growth to retail sector and add new objectives of “Better customer experience” in retailing. It helps retailers to gain deeper insight into sales trends & customer preferences and helps them to manage their store operations in most efficient & effective way.
POS: Why it matters to YOU?
POS system became the new benchmark in all forms of retail from big retailer to small local retailer. It has several advantages:-
POS system thus drives your business toward profitability & productivity. It add value on customers shopping experience, improved staff efficiency, eliminate pen paper work, saves manpower, facilitates better & improved store management and last not least convenient services to customer which make them happy and satisfy.
Must Have Features Which Every POS system Possess
Every business need is different so every POS system cannot be same. It should be customize the way retailer want it to be in order to meet need and complexity of its business processing's. But there are few essential features which every POS System must possess, which are:-
An efficient POS System is that which is able to grow with your needs. It should have flexibility of adding peripherals as business grow for example you can just login with POS software running on a PC with just drawer & receipt printer, later on you can add as your need demand like barcode scanner, credit card reader, inventory tag printer etc. depends on the need and the growth of the business. Regardless of business size an integrated POS system is must to be competitive & able retain customers
The efficiency of POS System is determined in terms of Return on Investment i.e. ROI, so it is necessary to look for the provider that has a reputation for substantial customer service and technical support. As well, you'll want to ensure that their product is specialized to be beneficial to the size of your business, and the industry within which you operate.