If you are the owner of a small business in the retail or restaurant industries, then you need to know about point of sales systems, or POS for short. Even though they may seem like a lot of work and an unnecessary expense, when looking closer you will find that they provide lots of benefits when running your business.

There are two main types of point of sales systems. The first type are the ones used in retail and the second the ones used in the restaurants and hotel businesses.

  •  One of the biggest benefits of the POS systems is their accuracy. Doing a simple scan of an item is a lot more simple and faster than putting in numbers from a sticker by hand, and it also lifts the pressure from the cashier, as it is very unrealistic to expect them to remember the price of every single item. When speaking about the point of sales system’s accuracy, it is also important to note that these systems cut down user errors often made by the cashiers. A big problem when manually entering numbers into the register is hitting the wrong key, and since POS systems have built in checks, they ensure that the information is entered correctly.
  • Another important benefit is the analysis that you can do using the point of sales systems. Even though point of sales systems are basically a cash register, because it is based on a PC it opens up a whole new array of data you can get about your business. The main advantage of the POS systems being computerized is the sophisticated and very detailed sales reports it can provide and it provides them in different ways. You can get analysis about the amount of items sold, the time periods of the sales, promotion, if you have multiple stores you can get sales analysis for each particular store, or even for each sales clerk in each of the stores.
  • Point of sales systems will also help you in the inventory management of your business. It can do this because of the way the system records everything, so for example your inventory manager will be able to buy all the necessities for your business much quicker, it can help your chef calculate how much meat he should order for the following week, or even month, while also being able to take into account upcoming holidays, and so on.

Even though point sales systems are a big investment, since they can cost anywhere from $3000 to $6000 per station and everything that goes with it, they will definitely help you run your business more successfully. With every bit of your business analyzed and available for you to see right on your PC or tablet, you will have a much better view of every aspect of your business.