What is a Point of Sale (POS)?

If you search the web for any type of point of sale software (or system), the question, “What is a Point of Sale (POS)?” will more than likely appear. A POS is a software built to help businesses streamline their processes. They keep track of all counts of inventory (ordering, receiving, adjustments, reporting), help manage employee security, automate discounts/promotions, and checkout the customers quickly at the register.

With the right POS in place for your business, you could recoup the costs thanks to revenue you saved when streamlining the process.

What should a POS be able to do?

Depending on your industry, you may have different requirements then the business next door. So what the POS should be able to do, will vary between businesses.

At minimum, your point of sale should allow you to:

• Create Items and add their retail, cost, and other basic information.
• Create Purchase Orders
• Receive Orders into the Software
• Run Reports to see Sales Information
• Update Pricing as needed (including Promotions)
• Checkout customers quickly at the register
• eCommerce Integration (website/app)

If your business model is a Salon, Restaurant or Liquor Store, you will have different needs than a retail store such as Target. For example, liquor stores will require at minimum:

• Age Verification
• Mix & Match Pricing
• Case Breakdowns: Single, Packs, Bottles
• Manage Seasonal and Vintages with the same UPC as one item

As you can tell, their needs would be different than a Salon’s needs. You will want to look for a point of sale software that is catered to your business model. This will allow you to have the right tools you need for your business.

For more information about liquor store software, check out mPower Beverage Software by clicking here.