A business’s point of sales system (POS) is one of the most vital features that a company must implement. Without an effective point of sales system money can be lost, time can be wasted, and the business could fail. A point of sales system is made up of a the company’s hardware and software that enables merchants to take and manage their transactions.
POS systems have advanced at a rapid pace. Fifty years ago all a small business needed for their POS system was a cash register, an accounting ledger, and price tags. Today POS systems can be comprised of software, computers, credit card processing terminals, cash drawers, bar-code printers and scanners and mobile credit card readers.
For most businesses, the most important aspect or feature to consider when choosing a point of sales system is inventory tracking. For businesses with large inventories, inventory tracking is key to knowing when stock is running low, quickly adding new products and creating appropriate sales orders and receipts.
Business owners also will need to consider what type of hardware you need with your POS system. To process credit cards, you will need to choose from a vast array of point of sale terminals available. For a new or small business that wants to keep costs low, a mobile swiper is a cheap and effective option for a point of sale terminal. However depending on the size of your store and the number of cash registers you have, you may need to purchase several retail terminals such as the Verfione VX820 Duet. These terminals will allow you to process credit cards quickly and more efficiently so you can focus on managing your business and increasing revenue.