If you were to pose this question to a business owner, they might say a point of sale (POS) system is the place where the magic happens. Summarily, a POS is defined as a combination of hardware and software that oversees business transactions.


Formerly, the POS consisted of a cash register and its subsequent receipts. Currently, POS complete further reaching tasks including payment processing, post-transaction follow-up, and customer retention processes.


The POS has become integral to the success of businesses both large and small. Many components make up the modern POS, and we will look at them here. We will also evaluate the benefits of a POS system and how to go about deciding on the appropriate one for your business.


The Typical Components of a POS System


There are two major categories of components when discussing POS: hardware and software. The software is a major consideration for business owners as it indicates how the POS functions and what tasks it can complete.


Some will opt for an on-premise software model. This model is purchased by a business as a license, and all further updates are dealt with by the business. Alternatively, a popular solution for smaller businesses lacking IT professionals is cloud-based software. These offerings utilize the internet and allow you to process transactions or tasks through a service.


The typical hardware included in a POS system has been updated over time but goes back to the original POS – the cash register. Hardware can include a form of cash register, a credit card reader, scanning equipment, or printers, among other pieces.


How a POS Can Improve Business Operations


Going beyond simple financial transactions, POS systems have become the central hub for business operations. The goal of a POS today is to enhance the efficiency and functionality of the business.


A high-quality POS system can incorporate sales functions, inventory control, employee management, and reporting to ensure business owners are fully informed. Many businesses perform these tasks individually using an array of methods. Combining them into one streamlined tool makes growth and efficiency simple.


Selecting an Appropriate POS System for Your Business


Selecting the best POS system can be overwhelming. The sheer volume of options can make the process confusing. The best first step is to make a wish list, of sorts. Envision all the tasks that would make running your business easier and help you determine a pathway to business growth.


Before choosing a POS system, business owners should consult peers in the community. Ask what works and does not work so that you can narrow down your list of “must-haves.” Word of mouth recommendations is one of the best ways to find a reliable product.

Once you have developed your list and have an idea of what your business needs, contact us at Point of Sale Perth. Our team can provide the best options for your business. From recommendation to installation, we can help you start using the POS system that will get your business moving.