The POS system has become ubiquitous in the retail business world for its considerable benefits. According to Finances Online, the global POS market is expected to reach $29.09 billion by 2025. Currently, there are two major POS platforms which are cloud-based POS and on-premise POS. No matter if POS is running on the cloud or local servers, all POS systems require a basic part to function properly which is a POS terminal. Let’s walk through today’s article to grab information regarding POS terminals – a core of the entire POS system.
Overview
POS terminals are any devices with a screen to access POS software.
In short words, POS terminals are any device that has a screen for a store owner to interact with POS software. They vary from tablets, mobile phones, laptops, PCs, and even self-service kiosks.
Unlike cash registers with limited functions like calculating the total and storing cash, POS terminals are far more complex with the ability to keep track of inventory and customers. Also, they help shopkeepers speed up the checkout process. Some POS terminals have extensive screen displays that let in-store shoppers keep a close eye on their carts and invoices.
POS terminals support you to look up products and speed up checkout process.
A typical POS terminal will integrate with credit card swipers to process electronic payments, a cash drawer to secure cash, and a receipt printer. For several retail businesses, owners also connect POS with a barcode scanner to more easily look up products and fasten checkouts.
Depending upon specific needs, a store can set up a wide range of POS terminals. When a product is assigned to a barcode, all you need to do is to scan the barcode, then, product-related information will show up. If you do not acquire a barcode scanner, just type product name, well-fitted items will appear on the touchscreen.
You can keep track of employees who ring up the sales.
As customers check out, POS terminals will allow you to add products to cart, choose payment methods, click OK and print the receipt.
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When sales occur, employees’ information on who rings up the sales will also be recorded. Besides, you can check the number of products sold and inventory right on the POS terminal.
It is effortless to browse items and add to customers’ cart.
From the POS touch screen monitor, you can browse the catalog, look up the items, and add to shopping carts.
If you have multi-stores, only products that are stocked at your POS terminal’s assigned locations will be shown up for sales.
When you choose an SKU on the screen, all that product’s information will pop up, like price, description, product vendor, etc. Besides, other information will also be available in POS terminals for you to better inventory management, such as the current location’s inventory level and total inventory on hand.
With POS terminals, the checkout process is easier and much quicker.
With a POS terminal, you can process sales in a blink of an eye. All you must do is add items to carts, choose payment methods, and hit OK.
Furthermore, POS accepts various payment methods, for instance cash, credit card, store credits, gift cards, etc.
That being said, some POS terminals have a customer display screen that helps your shoppers to keep a close eye on their purchases and payments.
POS terminals allow you to gather customer information instantly right on the checkout counter.
One of the greatest advantages of POS terminals is that they allow you to create and edit customer information instantly. After completing an order, you can ask your shoppers for their names, phone numbers, addresses, and so forth, then enter right on the touchscreen.
These devices support you to gather customer data in a standard form with lightning-fast speed. All information will be saved automatically so that you do not have to worry about accidentally missing it somewhere.
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