Introduction to POS
Point of sale (POS)is a computer-based program that is useful for recording sales and placing orders. It comprises software that records a large amount of data. Point of sale (POS) is multi-tasking equipment. It calculates the due cash for the order entered and also record transaction of a sale. The POS includes various capabilities in its software that are beneficial for any small or large business. The technology of POS is currently performing its task in various dining restaurants, coffee shops, fast food shop and many others.
Special Considerations: POS Innovation
Recent POS systems are usually programmable or enable enhancement with third-party software programs. These systems can be personalized to meet specific requirements. For instance, most of the retailers utilize POS systems to manage membership programs that award points to regular buyers and issue discounts on upcoming purchases.
Cloud-based POS systems are growing in use, mainly for large online merchants, to track and process variety of purchases. Cloud-based systems can greatly decline the upfront costs of implementing a POS system for numerous businesses.
Customers can also coordinate directly with POS systems, mainly in the hospitality industry. Usually referred to as location-based technology, these systems can process transactions at the locations of the client. For instance, at many restaurants, customers can look at the menus and place orders on terminals located at their table. Whereas in hotels, customers utilize alike terminals to place orders for their room service or to pay bills for their hotel expense.
Points of sale (POSs) are the core focus for marketers because consumers are likely to make purchasing decisions on high-margin products or services at these strategic locations. Usually, businesses set up POSs near store exits to enhance the rate of instinct purchases as customers leave. Though, varying POS locations can provide retailers more chances to micro-market specific product types and impact the consumers at earlier points in the sales funnel.
Benefits of POS Systems
Electronic POS software systems modernize retail operations by automating the transaction process and tracking important sales data. Basic systems incorporate an electronic cash register and software to communicate data collected from routine purchases. Retailers can enhance functionality by installing a network of data-capture devices, incorporating card readers and barcode scanners.
Depending on the software specifications, retailers can detect pricing correctness, inventory variations, gross income, and sales patterns. Using combined technology to detect data assist retailers in catching discrepancies in pricing or cash flow that can assist in leading towards profit loss or intersect sales. POS systems that watch inventory and buying trends can assist retailers to avoid customer service problems, such as out-of-stock sales, and tailor purchasing and marketing to consumer behaviour.
Amazon’s concept convenience store, Amazon Go, which installs technologies that let customers come in, take items, and walk out without going through a register, could transform POS systems. Besides growingsuitability, this could enable POSs, allegiance, and payments to be rolled into a single customer-centric practice.
POS In Restaurant
Restaurants are using the software of Point of sale (POS) to maintain accuracy and transparency in their accounts. The multitasking functions of POS has created easiness for the employees and customers. Its speed of recording transactions and calculation saves the time of the customer. The functions that are performed by POS in restaurants are discussed below.
- The POS keeps the record of cash present in the drawer. The system has the ability to make a report of hourly and daily sales.
- POS has the capability of placing the order for a customer. It is also efficient in keeping the data of repeating customers.
- The data for daily waiters is also managed by POS. It can track the check-in and check-out timing for each waiter.
- The data of waiters working in the restaurant is recorded by the software present in POS. It has the ability to maintain the payroll data for each employee of the restaurant.
POS point of sale equipment is effective for both quick service restaurant and full-service restaurant. The touch screen in the POS system makes it more reliable and effective for the employees while placing an order. If the employee has to place any order for a customer, he follows a special process that is mentioned below.
- The employees of the restaurant use a touch screen to insert their name or code number before placing an order.
- When the program gives access, an employee places the name of food items demanded by the customer. The information also includes the table number to avoid any misunderstanding.
- The data entered by the employee reaches in the kitchen or bar in the form of a printed ticket, where the employee receives all the information of the order regarding the specific table.
- The kitchen employee is liable to follow the instructions mentioned in the printed slip or screen that is present in the bar.
- The payment method is different in quick-service restaurants where the employees will read the bill on the screen and provide it to the customer to collect the payment. In the case of full service, the server will wait for the customers until they are finished with the food.
iPad POS in Restaurants
iPad pos is a new technology that is designed to facilitate customers who visit the restaurant. The trend of waiting for the server to take orders from a customer is eliminated with the help of this device. The touch screen comprises of visual food menu that allows the customers to select the food item he wants to have. After the selection of the menu, the customer can send his order directly from table to kitchen. The order placed by the customer through iPad POS reaches to the kitchen employee where the cook receives the order in the form of print ticket. The customer does not have to wait in a line for paying the bill. The feature of iPad POS includes the payment method where the customer can pay their bill through card swipe. The development in the POS program has provided easiness to customers in many ways.