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Point-of-sale (POS) System in Unix Network Jessore.
POS stands for point of sale. A point-of-sale (POS) transaction is what takes place between a merchant and a customer when a product or service is purchased, commonly using a point of sale system to complete the transaction. To compare different types of POS systems, click here.
So when you’re at your favorite restaurant or retail shop, and you make a purchase, you are completing a point-of-sale (POS) or a point of purchase (POP) transaction.
Merchants typically use a POS system to complete a sales transaction. In its most basic definition, a POS system is a combination of POS hardware and POS software to create a POS machine for processing a transaction and payment.
Cash registers are not as evolved as using a POS system and lack many of the functions and features of a modern day point of sale system. A cash register could be considered a point of sale solution technically, however, for our definitions, we will be focusing on point-of-sale machines (aka POS terminals) that involve both software and hardware. Continue below to learn more.
In this guide to the meaning of point of sale, we’ll discuss basic definitions and show some examples to clear up any confusion on terms like POS system, POS, Point of Sale Machine, and POS purchase.
We’ll also discuss the purposes of a POS system and how they work. By the end of this article, you’ll have a greater understanding on all these terms, and if you’re looking to find a point-of-sale system for sale, we will describe various types and show you where to compare and find the best option for you.
A POS system is synonymous with a POS terminal. However, a POS terminal is the electronic equipment performing the sales transaction and processing the credit card payments. Used in most storefront businesses, a computer terminal combined with the POS software helps to manage everyday sales transactions and operations.
Like you learned above, with the combination of the POS software and a POS terminal, you now have the full definition of a POS system. A point of sale system is the heart of a business and used for many essential tasks such as inventory management, labor reporting, menu customizations, price adjustments, staff management, sales reporting, customer management, marketing initiates, and so much more. The next time you’re at a restaurant or retail store, ask the clerk what type of system they are using, and you’ll soon learn there are hundreds of different kinds of systems out there you can search in our POS directory.
A modern Point Of Sales (POS) system
A modern POS system will consist of a touchscreen computer that operates with POS software that’s used to complete product orders and accept all payment types. The hardware components bundle will typically include a POS terminal, receipt printer, credit card reader, cash drawer, barcode scanner, kitchen or bar printer (for restaurants), and possibly even an on-site computer server for older legacy systems. Visit our components of a POS system infographic page to learn more.
Newer technology on the market like cloud-based and hybrid point of sale solutions run on iPads and tablets where your data is synced and stored online and eliminates the need for an on-premise server like with legacy software and hardware.
There are hundreds of POS companies on the market, and the cost and prices will vary depending on the type of business environment you have and how many terminals you will need. Most companies will offer a cloud-based solution and mobile point of sale functionality. Having these options is mostly a no-brainer these days because you have access to all your sales and programming data online remotely or through an App.
To dive deeper into the meaning and definition, we are also going to explore the various types of POS systems for sale that are available on the market.