Category Archives: POS
A point of sale (POS), or point of purchase (POP), is where you ring up customers. When customers check out online, walk up to your checkout counter, or pick out an item from your stand or booth, they’re at the point of sale (POS). Your point-of-sale system is the combination of hardware and software that enable your business to make those sales.
How does a POS system work at a small business?
A POS system allows your business to accept payments from customers and keep track of sales. It sounds simple enough, but the setup can work in different ways, depending on whether you sell online, have a physical storefront, or both.
A point-of-sale system used to refer to the cash register at a store. Today, modern POS systems are entirely digital, which means you can check out a customer wherever you want. All you need is a POS app and an internet-enabled device, such as a tablet or phone.
So what does a POS system do? Usually, it works like this:
1. A customer decides to buy your product or service. If you have a physical store, they may ask a sales associate to ring them up. That associate could use a bar code scanner to look up the item’s price. Some POS systems, such as the Techno’s Point of Sale, also allow you to scan items visually with the camera on your device. For online stores this step happens when a customer finishes adding items to their cart and clicks the checkout button.
2. Your POS system calculates the price of the item, including any sales tax. Then the system updates the inventory count to show that the item is sold.
3. Your customer pays. To finish their purchase, your customer will have to use their credit card, tap card, debit card, loyalty points, gift card, or cash to make the payment go through. Depending on the type of payment they choose, your customer’s bank then has to authorize the transaction.
4. The point-of-sale transaction is finalized. This is the moment when you officially make a sale. The payment goes through, a digital or printed receipt is created, and you ship or hand your customer the items they bought.
Common POS software features
POS software is like your command center. At a basic level, it allows you to find items in your library and ring up sales. More robust point-of-sale solutions also feature helpful tools such as sales reporting, customer engagement software, inventory management, and more. Point of Sale systems also take care of routing funds to your bank account after each sale.
Some POS solutions, such as Technors, include the features below. Other systems may require you to use outside software to get the features you need. Learn more about how Technors compares to other POS systems.