The point of purchase or point of sale system is a place and time system where retail transactions are made through. With help of point of sale system, a merchant can calculate amount owned by a customer and this system will indicate that amount. It can also help in preparing invoice for customer and indicates different options for making payment. It is helpful in exchanging goods after provision of service. Once merchant will receive the payment, cloverstation will provide a receipt to the customer for the transaction and it is usually in printed form being dispensed from the system, but these days are now sent electronically.
The point of service well known as point of sale is not only a point of sale software, but also has features of point of customer order and return. This type of software includesvarious features some of the main features of cloverPOSsystems are customer relationship management, inventory management, warehousing and financials.
Why businesses are adopting POS systems?
More and more businesses are adopting point of sale software and one of the compelling and most obvious reasons due to which this system is gaining popularity is that it is less expensive and easy to control. It works on basis of selling price and since selling price is linked with product code of item, so when the product will be added to stock then cashier just need to scan this code only and rest the system will do on its own. In case, price of product changes then it can be done easily through inventory window. Here are some other advantages of using POS systems of Merchant account solutions.
Reduce shrinkage: With help of point of sale system quantities of inventory can be tracked with real time data and understanding of shrinkage becomes much easier. This is one of the main reasons because of which most of the modern point of sale system includes both inventory and receiving functions. So, proper use of these functions can help in pinpointing causes of loss of inventory, reduce stock or out of stock and this make management of business effective and efficient.
Manage specialists:Point of sale system helps in automating process of marked down and tracking current price. Promotions, discounts and coupons are considered critical in retaining and attracting business. POS system even excel in reconciling short and long term discounts and managing these things automatically.
Enhanced customer satisfaction: Using POS system with scanner will help in speeding up check out process. This gives you an ability of recognizing best reward for customers for their loyalty and patronage. It even helps in collecting all necessary information related to customers that can be later used for achieving targeted benefits through incentive programs and advertising.
Flexible options for expansion:Another great advantage of using POS system is that, this software gives an ability of adding administration computers and registers. So, if you are having an eye to expand make sure that you will connect multiple stores with web or using other type of connection method.