Point of sale (POS) is any kind of professional setting in which a customer purchases a product or service and the retailer will receive a reward. More than often the customer will receive a receipt or an invoice upon sale too. To make a payment in a professional setting there are payment terminals which could be touch screens along with other hardware and software options for you to use too. If you have a business you will have more than likely have used this system or are thinking of using it. POS is also great at retaining sales transactions, inventory control, managing customer data and much more. It is a great technology to have to base your marketing strategy upon too.
There are various sectors which POS technology can be taken advantage of. Here are 4 of the sectors that use POS technology.
- Retail is one of the most common sectors to use this technology. Such as retail places that sell, food, clothing, books, electronics, pet supplies, home ware, tools and DIY, alcohol, beauty items, entertainment etc. To name just a few. Retail therefore is the strongest example of how POS technology is used in a business. They can use POS software to keep analytics of their inventory too. Retailers that have large numbers of inventory items no longer should worry about slow transactions or inventory errors using this system. Quick payments can be taken from the customers and the inventory updated automatically.
- Hospitality is another sector that uses POS technology. Places such as, coffee shops, restaurants, bakeries, travel agents etc all use this system. It is a great tool for helping manage your customers data and giving rewards to them. According to Rachel from Tillpoint “Point of sale has transformed the restaurant industry especially in the fast food sector. The effectiveness of this system has decreased service times and increased the competence of orders.“
- Multi service businesses such as hospitals, movies, concerts etc all need POS technology too. Hospitals might surprise you that they use such a system. Hospitals are always looking for ways to improve staff effectiveness and to be able to provide satisfactory care to the patients without the distraction of paper work. Movie theatres, concert halls, etc also benefits from this system as they need some way to book tickets for such events and take payments efficiently from their customers.
- Consumer services also can benefit from the advantage of POS technology. Examples of these services are, hairdressers, nail technician, salons, home repair etc. Using this technology, they can focus their time on their client and give them the best service that they can. Using a reward system for loyal customers and capturing their data so they can target any ad campaigns they want to in the future. It has been shown too that this type of system improves customer service which is a big bonus in any of these sectors. If you are going to a customer’s home then being able to take secure credit card payments from them is a must.