POS system is a system where the retail transaction of the person is completed. It is a system where the merchant helps the customer to pay for the products that the customer has bought with the different transaction options that are available. It is a system which reduces the paper work, tracks the inventories and helps the customers to market with easy to process technique. It saves time and energy of both the merchant and the buyer.
Importance of the POS system
- Eliminates human errors- human errors are very common while calculating money for any transaction. Thus to avoid such error this point of sale system is introduced. it only needs feeding of the necessary information in the computer and the rest of the job for calculating the cost and then helping in transaction comes under the hand of the computer.
- Increase in efficiency- reduction in the losses lead to increase in efficiency. Optimizing the checkout process is another way for increasing the efficiency. If the system is upgraded with some secure software then so mistakes can be caused and system would work smoothly.
- Reduction in losses- elimination of the human errors is an important step in reduction of losses. Thus, it leads to profits for the merchant and the customers which is a step in building up trust for the merchant.
- Return on Investment (ROI) – the system will help to manage everything from best sales of the particular product to the quantity of the particular product. Using the system with s good web extension can only lead to profit in the business. This is the time when the return on the invested business can be made.
Thus, now calculators are considered a traditional way but using the point to sale system is considered to be safer and faster way.