| A point of sale ("POS") machine is one that facilitates | | | | customers or cashiers through the process of |
| retail transactions. They are essentially modern day | | | | conducting a transaction. Many retail stores today also |
| versions of cash registers. Rather than simply storing | | | | have price scanners attached to the POS systems, |
| money or keeping a tab on sales, these machines | | | | further streamlining the process of checking out |
| provide an additional critical function for doing business | | | | customers and helping to minimize mistakes. |
| today: the ability to charge credit cards. | | | | Obviously, one disadvantage of relying completely on a |
| In the U.S. today, a majority of transactions are | | | | POS system is the possibility of system failure, |
| paperless. Rather than counting out paper bills (which | | | | rendering you unable to conduct business. Therefore, it |
| can require the purchaser to carry a large amount of | | | | is extremely important to choose a well-researched, |
| cash depending on the nature of the transaction), | | | | historically reliable POS system, and that the system |
| people can just use their credit/debit card and pay | | | | be connected to a high quality, reliable Internet network. |
| electronically. It's easy, quick, and safer than dealing | | | | With the network, it is advised that you use a form of |
| with cash. A retail business not equipped to accept | | | | connectivity faster than a telephone line-based dialup |
| credit cards is at a significant disadvantage. | | | | account. A high speed Internet connection functions |
| Speed is an advantage not only for the consumer but | | | | best. |
| for the business as well. Streamlined transactions get | | | | After installing a point of sale system, it is critical that |
| people through the checkout line quicker, resulting in an | | | | you thoroughly test it. Charging your customers the |
| increase in the total amount of business you do. POS | | | | wrong amount (or not being able to charge them at all) |
| systems can also synchronize with accounting and | | | | could cost you business and damage your reputation. |
| inventory systems to provide real-time updates. With a | | | | Also check to make sure that all PCI-DSS security |
| POS system, items that are low in stock can be | | | | measures are in place. Your POS system may store |
| monitored. | | | | sensitive customer information that must not be |
| POS systems do not have to be complicated. Many | | | | compromised. |
| systems today run on a Microsoft Windows operating | | | | There is an investment of time and money required to |
| system and use a familiar computer interface that | | | | implement a POS system, but if you make the right |
| should be easy for most employees. There are also | | | | decision, it will increase your business' and employees' |
| POS devices that run on non-Windows operating | | | | productivity, and allow you to offer more ways for |
| systems. Touch screens can be used to guide | | | | your customers to pay. |