Even though now, in 2008, most businesses are run by computers; there are still many small business owners that have no idea what a POS is or even where to start when it comes to running a computer. Smaller businesses with inventories of a modest amount may function well without a computerized point of sale system, but the majority of establishments will benefit from a POS system. Why? Well, by definition, a POS system is known as point-of-sale software used most frequently by retailers to operate their cash register and sales drawer; it will calculate customers’ total purchase price, including sales tax and applicable discounts, et al. It is, in essence, the computerized checkout system. The POS will calculate change due from the amount tendered, and will also adjust the store’s inventory to reflect items sold.
So how could a POS system be anything but helpful? It is true that point of sale systems aren’t free. Depending on what software you choose, your fees are going to be varied. You may have monthly fees or annual fees. Also, take into consideration whether or not you pay employees to do what a POS will now do for you electronically. Do you employ staff to check your inventory? Do your employees have to hand-tally your daily sales reports? With a point of sale system, these are expenses you will be able to eliminate.
Another circumstance that could be viewed as an unfavorable condition to POS systems is that, as with any electronic device, there is a chance that you could experience technical difficulties. Be it user error (which is the most common cause of reported problems), internet provider issues (you will need to be a subscriber to broadband internet access to use a POS system), or any other reason, “down time” is always a possibility. Whatever your reason for considering or, maybe even not considering a point of sale terminal for your business, it’s important to take all aspects into review before making a choice. With so many different types of systems available (with or without credit card processing, with or without an all-inclusive Windows computer, etc.) and so many different providers on the market, the most important decision you can make is an informed one.