A point-of-sale system  it easy to track sales and inventory while boosting customer relationships. Basic POS systems combine an electronic cash register and software to coordinate data collected from daily purchases. They can include barcode scanners, payment processors, receipt printers and credit or debit card readers. Some systems also monitor purchasing patterns to help retailers avoid miscalculations that could impact profit and slow cash flow.

Whether you have a restaurant, grocery store, deli, winery or other type of retail business, it’s important to find the right POS for your needs. Look for specialized features that are unique to your industry like menu management for restaurants or e-commerce integrations for wineries. Some POS systems even make it easy to add gift cards and loyalty programs.

Choosing the Perfect Point of Sale System for Your Business: A Comprehensive Guide

As shoppers browse your products, a POS system lets store staff look up prices and inventory availability to prepare for a sale. When a customer decides to buy, your POS system will calculate the total cost, including sales tax. Then, using a bar code scanner or smartphone app, the customer pays you, and your POS system records the transaction.

With the advent of cloud-based POS, you can access and use your POS system anywhere with internet connectivity. Rather than needing to set up a front desk computer, barcode scanner and credit or debit card reader, employees can simply take their POS with them on the sales floor (especially if you opt for mobile hardware). For larger stores, changing product prices or locations is as simple as re-entering your POS data in your business portal.