Point of Sale Software Systems For Small to Midum Size Businesses
Hubtech Point of Sale Solutions in Kenya offers flexible POS for both Small and Medium Enterprises. Managers can ensure that cashiers have the information they need to effectively complete transactions while complying with restricted sales, cash handling, and payment policies.
Some features of the point of sale solutions include safe drop enforcement, price checks, age restricted sales validation, department sales time restrictions, and an electronic journal to track risk events such as no sales, refunds, voids, and cancels. The solution also provides search, shortcuts and pending order management for an uninterrupted workflow.
Key Features in the Place of Sale; Kenya Hubtech POS System
To manage business sales, inventory, and track your account effectively and if the core of your business is selling products, then he must invest in a POS system today. But before that, let’s dive into an understanding of the ‘Point of sale’ system. In this article we explore the following questions
- What is the POS point of sale system?
- Different types of POS systems
- Main components of POS settings
- The main features that need to be considered when buying a POS system
What is the POS Point of Sale System?
POS stands for “Point of sale“. The POS system is used to make sales at your local store.
It’s past days when the retailer uses the cash register to process sales after the data has been transferred to the account and stock list. Today, with the help of retail POS software, you can simplify billing, promotions, returns, and more.
Point of sale systems can be integrated with your other systems and software such as e-commerce platforms, accounting applications, and ERP and warehouse systems.
A full featured company POS system can handle sales monitoring and reporting, analysis, inventory tracking, cellular connectivity, customer data management, employee management, and strong integration.
Type of POS-Point of Sale system
POS systems are available according to the needs of the organization, ranging from simple processors to complex cloud systems depending on the type (physical or online) and size (small, medium and large companies). They are generally classified into 3 types:
POS / Mobile Handheld Sales System
The POS system or mPOS Mobile uses electronic devices such as smartphones, tablets or other mobile devices as a terminal where you can install a credit card reader. This is very portable and allows you to install other peripheral devices such as barcode scanners and thermal receipt printers.
The Mobile of Sale POS Point system is used to process payments and may have other capabilities such as inventory management, loyalty programs, sales monitoring, reporting, and more.
This system is best suited for small businesses and entrepreneurs, small retail stores, pop-up stores, and fast food companies. The cellular POS system does not take up too much space and is very affordable and comfortable.
Terminal Point of Sale System
POS terminals are software / hardware based systems that carry additional peripherals such as barcode scanners, credit card readers, receipt printers and cash drawers.
This system has extensive capabilities including inventory management, reporting and analysis, receipt of payments via email, CRM, and customer loyalty programs.
They are most suitable for retail stores that have special cash. Because of their sophisticated functionality and reasonable prices, they are used in businesses such as restaurants, grocery stores, boutiques, bookstores or magazines, salons, and electronics stores.
Cloud Based Selling Points
Cloud POS is an online or web-based POS that can be easily used with existing hardware such as computers, tablets and printers.
This system has all POS terminal functions. The only difference is that, instead of being installed on a server run by you, the POS cloud system is installed in a data center that is managed by a POS vendor.
They are suitable for all types of businesses, especially startups because of the real benefits of cost, simplicity, flexibility and functionality.
The main component of the point of sale system
Hardware and software are two main parts of a point-of-sale system that work together to perform sales transactions:
Point of sale hardware & Accessories
The hardware of a point-of-sale system consists of a physical configuration such as a cash register connected to a computer or a Point Sale Computer server, or even to a portable device such as a tablet or a connected smartphone. to a system hosted on a cloud.
It can contain add-ons such as a barcode reader, a thermal receipt printer, a label printer, a cash drawer, a balance for weighted items, and a card machine to process credit card payments. debit or credit.
Point of sale software
The POS software stores information and maintains it in a database. A feature-rich POS software provides a wide range of features such as billing and order processing, sales monitoring and reporting, inventory tracking, returns, analytics, mobile connectivity, customer data management, employee management and loyalty programs.
Many point-of-sale software can be integrated with third-party software, such as accounting accounting software, email marketing solutions, and e-commerce platforms for online sales
Invoicing and order processing at the point of sale
A point-of-sale system must have basic billing and fulfillment functionality. It should be able to bill orders by scanning items and capturing different payment methods.
It allows you to generate an invoice, reprint and send an e-mail to the end customer, while adding to the order the discount, customer details, additional remarks and the name of the seller.
Sales tracking and reporting
The point-of-sale system must be able to generate a robust report on the sales result. It should be able to report hourly, daily, weekly, monthly, and annual receipts and disbursements so that merchants can easily understand the overall success of their business.
Sales trends, such as seasonal demand for products, forecasts based on sales trends, information on unnecessary product overruns, and inventory management information, are some of the features of a module. advanced reporting of outlets.
Inventory and Inventory Management
The inventory management module of a point-of-sale system must provide complete visibility and accountability at the store level at all times.
The system must provide a view of the batch inventory, SKU transaction history for incoming, outgoing and incoming movements of any SKUs, as well as inbound and outbound stocks.
He should be able to adjust the stocks, ie increase/decrease the stocks while consulting the stocks and grasp the reason for the adjustments.
Cross Channel POS Feedback Management
Accepting returns across multiple channels and facilitating refunds and replacements from any store are some of the features of a POS return management module.
The system must facilitate the creation of multiple returns for a sales order at different time intervals. It should contain details such as the reason for the return, the name of the seller and the remarks.
Customer relationship and experience
A point-of-sale system can help you retain customers by storing customer data and purchase history. This can be used to offer a personalized experience to your client.
Customer data is very useful for advertising because it can provide information about the customer who would be interested in your sale. For example, sending a sales flyer with 30% discount on oversized shirts to the customer wearing a medium size shirt would be a waste of time.
It is surprising to many when we say that a POS system can be used to manage employees. However, an employee management module in a POS system can help you manage your staffing levels, work hours, and sales performance, which helps you track employee productivity.
You can track the activity of your employees by linking it to each transaction. This will help to fork the good and weak so you can take the right steps to improve your productivity.
Loyalty programs and gift cards.
Instead of using traditional punch cards, you can now track the loyalty incentives of your customers using the POS system.
As gift card sales increase each year, your POS system must have the ability to manage them as well.
Today’s POS system goes beyond sales processing. As you learned in the previous sections, a feature-rich POS can help increase efficiency and provide information to help you improve your productivity. These are the reasons why you should switch to a POS system today. See how Vinculum can help you achieve this with a point of sale system based on the cloud.
Hardware components of a POS system
These are the common physical components required for your POS to be up and running.
Monitor/tablet: displays the product database and enables other functions, such as registering employees and viewing sales reports. Tablets, especially iPads, are popular for replacing bulky monitors.
Barcode scanner: automates the purchase process. The scanning barcodes extract the product information and add it to the total of the box. Barcode scanners can also be integrated with inventory management systems to automatically adjust stock levels.
Credit card reader: Since the EMV payment standard went live in 2015, secure and EMV-compliant credit card readers are a must-have. Non-compliant retailers face potentially huge losses on account of fraud liability.
Thermal Receipt printer: Email and text receipts may be gaining popularity, but paper receipts remain essential for providing customers with a quick snapshot of their purchase or returns.
Cash drawer: It may fade away in years to come, but cash is still king. Until then, you’ll need a secure place to store cash for transactions. Another benefit of cash: there are no associated credit card fees.