POS systems for small business
Point of Sale (POS) systems gained a foothold in two industries this past year with sales climbing 3.9 percent. Growth in the fast-food industry and specialty retail stores contributed to the overall increase. POS systems have evolved from humble roots, advancing from simple cash registers designed to protect profits to digital systems you can attach to a cell phone and take anywhere. As a small business owner, it’s important to understand why POS is crucial in business today and what it offers.
POS Dates Back 100 years
POS systems actually have roots dating back as far as 1871 when businessman James Ritty noticed a totalizer on a steamship propeller, which counted the propellers’ revolutions. He borrowed the concept to invent the first cash register.
He hoped the machine would cut down on employee theft and make tallying sales easier. A full century later in the 1970s, computer mainframes were used to control cash registers; then in the 1980s, computerized registers sprung up in small businesses.
Also Read: Top Rated Clover POS Systems
As computers grow smaller, POS machines have grown in capability. Basically, the POS Machine are desktop computers that finalize sales, print receipts, and even update inventory on a single screen.
Modern Features Include Inventory Tracking
Starting in early 1992, the first true PC-powered POS systems became widespread as Windows-based IT Retail hit the mainstream. Today, handheld and countertop POS systems with a range of features are available off-the-shelf.
More advanced POS systems track inventory in real-time and alert you of reorders. They also monitor purchase history so you can modify your merchandise to reflect in-store sales activity. With less inventory sitting on the shelf, you increase profitability per square foot.
They also have flexible credit card authorization, lowering your cost per swipe, and boosting profits. However, with so many capabilities, there’s still plenty to think about before ordering a POS system.
A World of POS Choices
Today, business owners have endless POS options. Standard countertop style systems have LCD screens, cash drawers and bar code scanners for retail. POS systems come with touch screens and cash registers for restaurants.
There’s also iPad based POS systems run completely from a single iPad. These systems handle sales, inventory, take payments and print receipts and can be carried anywhere.
You can even use card readers that plug into a cell phone.
Choosing Business-Specific POS Today
Before choosing a POS system think about your current software. If you currently use Quickbooks, check Intuit.com for new POS systems.
The company offers new mobile credit card readers that plug into a cell phone and take payments while on the go. It also has web-based payment processing systems that run on a PC or laptop and process payments through an internet gateway, much like the iPad.
If you currently use Apple products and are familiar with tablets and the iPad, an iPad system may be a better option. It’s mobile and if your staff prefers Apple products, they will also find them extremely user-friendly.
Finally, always make sure your system has appropriate customer support, training and allows for expansion including additional user accounts. It should also offer updates and enable you to take advantage of new developments in software and hardware technology.
