The evolution of a POS (Point of Sale) system has come a long way from paper till roll transactions to computers tracking inventory and record sales, and even going a step further to generate all sort of reports for analysis. Earliest transactions were made through cash registers where checkout counter employee would manually punch in prices, often with the help of price tickets/tags on the item(s) being purchased. With POS software and systems simplifying complex data and information, it became easier to drive sales growth and generate profitable ROI’s for businesses worldwide. However, with things becoming more sophisticated for business and restaurant owners many advanced to cloud-based POS systems, storing all important data online, while others are still unable to unleash true potential of a POS software. Here, we briefly explain what a POS system is, what hardware/components are required for a POS and how a POS system can help you drives sales growth at your restaurant/business:
Traditionally, the simplest POS system is the cash register, which is limited to only monitoring cash flow. Nothing more, nothing less!
However, modern POS systems are equipped with heavy artillery of features giving you the opportunity to leverage the ability of databases and specialized data entry. Furthermore, POS systems give you the ability to instantly categorize and have access to all kinds of sales, comprehensive tax configurations, inventory & waste management, employment scheduling, reports and analysis, and much more.
This comprises of the physical components of machines which are required to setup a POS system. Hardware components includes, not limited to, cash drawer, printer, debit-credit card machine to process payments, barcode reader, cash register connected to a server, or any other device (such as a tablet) device linked to a cloud-based system. A POS system comes with an array of features and manage multiple departments of your business operations, primarily to keep track of sales and automize operations across all facets of the restaurant.
Built to enrich functionality through the software component of the POS system, the software helps you manage wide range of data and information. The software, for instance, lets you automatically check and update your inventory and generate sales reports (daily, monthly, quarterly, yearly) based on the sales data, all depending on the requirements and needs of the end user and the industry. Advanced POS softwares are proving their metal on daily basis across various industries such as hospitality and retail industry, with accuracy and efficiency!
As discussed earlier, POS system have the unique capability to generate variety of instant reports. These reports are not limited to sales reports only, rather can help you with category-wise reports, coupon summary, highest selling item summary, hourly item sales reports, and much more.
Modern POS systems automatically help you check and update inventory. For instance, if a customer orders a hamburger, a POS system would automatically reduce the number of buns, patties and ingredients associated with the order and give you a report in real-time, which is fresh and current! Such an advanced feature can only help you be execute effective operations. Not convinced? Well renowned POS systems have the capability to automatically send orders to suppliers once an item reaches their assigned low-level.
With mobile POS, terminal POS and cloud-based POS, you access your sales data anytime from any location, for instance, with mobile access. Further, you can manage sales and communicate with other terminals within the network, or with handheld devices, for tracking operations, reports, and/or sales, from any location. This can play a crucial role in the overall success of restaurants, especially for multi-chain restaurants. Such functionality is suitable for all size of businesses, including startups, as POS system provides affordability, convenience and scalability.
In Conclusion, Point Of Sale system can help reduce your paperwork, market to your customers through easy-to-use process, give you more time to manage by doing the heavy-lifting and contain all the information in one database; making it easy for you have access to any information, do damage control and run business smoothly. India’s #1 restaurant POS software, Petpooja, lets you do more in less time. With 20+ reports available on the go, you can access any, and all, information anytime, anywhere. With such a variety of reports from Petpooja there is ZERO CHANCE of manipulation, fraud, overcharging customers, and/or deleting bills of sequence. To achieve more sales, drive success and peace of mind, contact us at www.petpooja.com for more details.