POS Software

POS software controls the inventory and helps entering products. Also, calculates the prices, prepares the invoices and prints them. Processing the payments and updating the sales are also done by POS software. It generates different sales and inventory reports as per demand. Finally, the hardware (printer, cash-drawer, etc.) is configured and operated by the software.

There are many types of POS software in the market. Depending on the business nature, you should select the software that features most of your business needs.

Applications

Some examples of businesses that use POS system and software:

  • Supermarkets, Groceries
  • Retail Stores
  • Restaurants, Fast Food Outlets
  • Departmental Stores
  • Warehouses
  • Ticket Outlets

Features

Some must-have features for a POS software are:

  • Inventory Management
  • Sales Reporting and Analytics
  • Flexibility with payment types
  • Ease of set up and use

Some extra features that make a better POS software are:

  • General Accounting
  • Customer Management
  • Loyalty Programs
  • Promotions and Gift Vouchers
  • Multi-User
  • Multi-Location

Setup:

Some important setup choices to be made when selecting POS software are:

Hosting

In-House systems are installed on local computers and may or may not be connected to internet. Business owner keeps the program and the database and is responsible to maintain the system. High speed and security of the data are the main reasons to choose an In-House system setup.

Cloud-Based systems keep and maintain the system and data on remote web-servers. The system is used either by browsing a website or by using an app that connects to the remote system and database. Minimum maintenance by business owner will be needed since the provider of the POS system, maintains and backs it up.

Mobile systems are installed and used on handheld devices such as smart-phone, tablet or specialized handheld devices that feature printer, scanner and payment processors. These devices may operate on own or connect to an In-House or Cloud-Based POS system, through mobile internet.

Number of Terminals (Users)

The business may use only one POS terminal to sale products and generate the sales reports. Larger businesses need multiple terminals and also back-office computers and servers. The software should handle this requirement and provide multi terminal (multi user) support.

Number of Locations (Outlets)

Larger businesses even could span over multiple locations and outlets which in turn may have multiple terminals (counters). The software should handle all locations with all terminals in real-time to keep the data and reports updated.