Sat. Jan 18th, 2020

Definition and Importance of POS software

Importance of POS software

What is the meaning of Point of Sale?

Before availing the software, one must fully understand the meaning of point of sale or point of purchase in business. Both the phrases are used interchangeably, and it means the time and the place where the final transaction between a businessman and a customer is completed. To expand it can be the point where the customer pays a businessman for his goods and services after the businessman had made the provisions for the same by writing a receipt for the transaction. It is called a point of sale from the businessman side and point of purchase from the customer’s perspective though both actually mean the same. Generally, the receipt is written or printed with but at times is also sent electrically. To do this manually or with the help of a person, one has to have weighing scales, barcode scanners, cash registers, payment terminals with touch screens and a number of hardware and software options.

What is the work of POS Software?

POS software reduces a headache and a lot of hassle on the part of the business when it comes to POS management. Here are some pointers:

  • Management of multiple counters: The Point of Sale Systems software can manage different counters thus calculating transactions going on at different levels and among different people at the same time. Once you configure the counter master, it operates at instructed at different counters.
  • Promotions engine: The POS software also uplifts business with the help of an inbuilt promotions engine which helps to configure promotions. The promotion is done on the basis of the value of the item, number and the type of customer it will attract, etc.
  • Salesman incentive Management: This software is not one which will take the work of the men at the counter but would rather help them in making calculations. Apart from that, it also automatically calculates and manages the incentives of the salesman for the people who are working on the counter. The incentives depend on the number of transactions done and recorded by each salesman and accordingly the software calculates the amount that they shall receive as their incentives.
  • Loyalty Cards: There are a number of ways in which the salesman can attract and please different types of customers in the store as well as on the counter. One of these is the loyalty cards which offer certain discounts or vouchers to the users after a certain amount of transaction is done. The software is also capable of managing loyalty cards at the same time.
  • Returns, Refunds and store credits: The software also takes care of functions like refunds, returns, gift cards and again assimilates this into the actual payment that is to be done by the customer. Hence, this area which is a little tricky for every business is also managed very well by this software which proves much helpful to every business. It is evident that the best POS software will make your daily transaction a lot easier.