A POS, Point of Sale, is the place where customers make a payment for the products and services they have opted for. POS is the central component for the business like sales, inventory, and customer management.
POS, is the place where customers pay for the products and services including the taxes as applicable. POS can be at a physical store as terminals to process card payments or virtual points like computers or mobile devices.
POS has evolved from simple cash registers to complex and sophisticated hubs that manage sales, financial, customer experience, promotional offers, and other operational processes.
Initially POS were simple cash counters, but after they were coupled with computers, they became powerful hubs for finance, sales, and promotions. In the modern era of mobile technology entire stores are converted into POS via the use of mobiles and tablets thus creating good customer satisfaction and driving the business growth simultaneously.
POS systems typically contain:
- Display unit to show the billing
- A keyboard/touchscreen device to select products and enter data
- Barcode scanner to scan billed objects
- A Printer to print the receipt
- Cash register – for storage of cash obtained during sales
- A software interface to complete the process
- The owner purchases the license and installs the software on the system
- The owner has to update, upgrade and maintain the software
- Larger organizations may require dedicated IT professionals
- High cost of hardware
- The owner can access the software on any device via an internet connection
- Software updates are pushed to the POS
- No dedicated software team is required, 1-2 individuals suffice
- Lower upfront cost
Hardware components required in a POS system:
Monitor/tablet: It is used to display the inventory and does other functions like employee check-in, sales reports. With the advancement in technology, mobile devise like smartphones and tablets are taking over the heavy monitors
Barcode scanner: Barcodes are unique IDs of the products, scanning barcodes automates the product checkout process, it brings out the product information like rate, discount percentage, etc. scanners also automatically adjusts the stocks levels, e.g. once a product is sold, the stock level automatically lowers by the sold numbers.
Credit card reader: Payment can be made through credit or debit cards, these cards are read by the card readers and payment is made at the POS system. As people are gradual, moving toward cashless transactions, these card readers are becoming popular nowadays.
Receipt printer: POS systems dispense out the bill copy, purchase receipts for the products they have purchased; nowadays e-mail and SMS receipts are also gaining popularity
Cash drawer: Cash drawers provide a secure place to store the cash. As cashless transactions are gaining popularity, these cash drawers may lose relevance in years to come.
Main features of POS systems
Most of the modern allows you to have a look at your sales. Some present this information in a detailed manner and in a way that allows you to see the relevant information in an easy and efficient way.
POS systems generate sales reports based on products sold, hours of operations, number of employees, total sales in amount, gross profit generated, gross margin, net profit
Inventory management should be at the core of the POS systems, it keeps the track of the inventory levels so that you know when the sticks levels are low and when it’s time to order to replenish the levels.
POS system should have the ability to:
- Scan and count products
- Manage stock levels by creating product variations (size, color)
- Identify inventory items with a unique serial number (e.g. barcode)
- Track inventory levels across multiple locations
- Consolidating purchases and orders in one order
Customer Management: POS system should give CRM system to track and monitor the customer data to help build a strong relationship with the consumers to make them permanent and help in repeat purchases.
POS system should have the ability to:
- Attach a transaction to a customer
- Store and track customers’ purchase history
- Capture customer personal information like name, age, birthday, phone number, and email address
- Use email marketing to stay in touch with them
- A loyalty program with a rewards system
Employee Reporting and Management: Employees are the main assets of a company; the performance of a company is majorly dependent on the individual performances of its employees. POS systems can help to set sales targets, know the top performers and low performers
POS system should have the ability to:
- Add employees to your system
- Create and modify schedules for employees based on forecast activity
- Email schedules to employees
- Track employees’ work time
- Analyze the top performers
POS software serves as a terminal operating system similar to Windows, macOS, Android, iOS. The software helps you to process the orders with the help of underlying hardware. Large organizations get custom-built software as per their requirements to match their business
A Point of Sale terminal is a card reading machine that accepts the payment done for an order placed. These terminals are integrated with the POS software to offer a seamless checkout system. e.g. bills are automatically printed after the card is swiped on the terminal.
Modern POS systems can accept payments from different types of methods like NFC enabled cards, Apple Pay, Google Pay, etc.
Integrations and add-ons
Integrations and add-ons extend the functionality of your POS beyond what its core features are.
- Inventory management
- Warehouse management
- Order fulfillment
- And much more.
Benefits of POS systems:
- POS system eliminates human errors and saves money in the long run
- It makes the execution of transactions quick and saves customers precious time.
- In a cloud-based POS system, there is almost no installation required, it also eliminates the worry and pain of software updates, back-ups, and maintenance.
- Track and manage the inventory in real-time, if the stocks are low it sends you alerts; you can order them quickly before they go out of stock
- It reduces paper works, produces reports to give you an insight into how your business is doing.
- Helps you to categorize the products under the different field for efficient product management.
- It makes better CRM with the customers. You can easily find out a record of customers; they can easily return their purchase or exchange within no time.
- No need to hire accountants to maintain and manage hundreds of transactions.
- You can easily see past transactions
- It automates the ordering process
- More detailed and itemized receipts to the customers
- Add promotions and discounts on the products
- Control and manage CRM, inventory management, customer payment security, sales and returns, discount and product bundling, employee working hours
- Increase sales with targeted offers
- Grow total customer lifetime value
- Drive visits by rewarding customers with loyalty programs
- Save sales by integrating POS systems with retail operational systems, from merchandising to supply chain
- Maximize inventory value and reduce waste
- Optimize supply chain logistics for better margins and more targeted customer preference
- Leverage data to avoid waste, overstaffing, and theft
- Speed-up transaction time
- Improve service levels and save sales
- Identify suspicious trends, transactions, and other anomalies
- Respond instantly via automated alerts
- Ensure Payment Card Industry Data Security Standard (PCI DSS) compliance
- Quickly identify stolen credit cards and other fraudulent credentials
- Reduce associate ramp-up time and errors
- Speed transaction time
- Speed deployment and time to value
- Quickly and cost-effectively extend the scope and value of your POS system
- Dramatically simplify implementation, monitoring, patching, and upgrades
Shoppers nowadays make purchases anywhere, anytime, and expect the product and service delivery in no time, if you fail to do so there are very high chances that they won’t come back. Today consumers are unwilling to wait in long queues whether in-store or in restaurants, POS can help in faster transactions thus providing customer gratification.
Types of POS systems
- Restaurant POS Systems
A restaurant POS not only has core features like other POS systems but also add-ons tailored for this type of business. For instance, it allows you to pup an order and send it to direct the kitchen, track food usage helping in increasing staff and food prepping efficiency.
Restaurant marketing, customer management, online ordering, loyalty program, server sales performance, new versus repeat customers, invoice purchasing, menu performance, employee management, and sales reporting are some other features.
- Bar & Nightclub POS Systems
In a busy bar, nightclub speed is necessary for a better service, so the software and hardware should be as fast as possible other you will end up having unhappy customers who are least likely to visit you again.
Bar and Nightclub POS have some typical features like liquor inventory management, bar prep printing, faster checkout, reordering, and loyalty and reward program.
- Retail POS Systems
Here’s a summary of the top features a retail POS should have:
- Credit card processing
- Inventory tracking
- Multi-store scalability
- Color and size matrix
- Product variants
- Employee commissions
- Customer database
- Gift registry and layaways
- Purchase orders
- Sales reporting
- Hardware integrations like barcode scanners and digital scales
- Software customization
- Software/hardware support
- Mobile and cloud-based technology
- Small Business POS Systems
Most of the new small business technology is app-based and on mobile platforms. Most of the mobile small business systems are designed to be light, flexible, and cost-effective.
A lot of apps can be very feature-rich and have everything you need without spending thousands on a touchscreen POS terminal. Tablet is perfect for environments like a small retail shop, little restaurant, boutique store, cafe. Places where you need quality features and functions but where a cash register may not be enough to get the job done.
- Cloud and Mobile POS Systems
A cloud-based POS system is a point of sale platform that stores information on the cloud. Cloud-based systems typically don’t record much information on your terminal device. Instead, all data is stored in the cloud and synchronized across multiple terminals.
One of the main advantages of cloud software is that it eliminates the need for expensive onsite servers to manage your data.
- Salon and Spa POS Systems
Spa and Salon POS systems have some additional features like appointment calendars, appointment reminders, and details of previous haircuts or nail styles, employee scheduling, etc.
Spa and Salon POS systems sometimes can also be used in other similar businesses like gyms, barbershops, massage parlors, tattoo parlors, and ice-cream parlors.
NBT is an award-winning POS software development company in India, the USA, and the UK. We equip you with POS systems with advance and modern features like sales tracking, inventory management, and user management. We create a web-based POS system that syncs with your business models and drives your productivity and growth.
Our expert developers at NBT create POS development solutions for various businesses customized to meet their diverse needs. We develop POS solutions for bars, restaurants, salons, spas, retail stores, grocery stores, and many more.
Our team of proficient developers ensures that POS is not just a cash-collector but has other features also. We develop POS solutions for small to medium to large scale businesses of various domains. We develop solutions for both web and mobile applications.
Our POS Development Services
We build feature-rich POS that can be integrated with 3rd party devices to offer enhanced functionality and customer experience. We provide you in-built analytics dashboard to track and monitor all the key performance indicators right in one place.
Payment Processing Services
Our customized POS software terminals ensure that you can accept payments by most of the methods like cash, PayPal, Google Pay, Apple Pay, SecurePay, Amazon Pay, credit cards, debit cards, loyalty, and gift cards.
We deliver an inventory management module with the POS to check the stock levels in real-time, get low stock alerts; we also ensure that the system is well integrated and synced with Barcode and QR scanners and RFIDs.
Analytics & Reporting
You can track and monitor all the vital stats of your business right in one place thanks to our data mining, predictive analytics. with the help of our latest data analytics techniques, you can get deep insights into your business to render high profits and a large customer base.
Our accounting module manages the credit and debit accounts and integrates with other third-party accounting programs to keep a close eye on your accounts by keeping track of revenues and expenses.
Online POS Software
We make web-based terminal interfaces that can be successfully integrated with e-commerce sites like Shopify, Magento, etc.
POS System Software
To ensure a loyal and permanent consumer base, we make sure that CRM software is successfully linked to automated user profile creation, targeted promotions, gift cards, and discount coupons, and many more. All this help to analyze customer behavior and buying pattern to entice them for future visits.
OUR DEVELOPMENT PROCESS
Tell us your project requirements
Our analysts will thoroughly review your project requirements and select the most experienced developers best suited for your project type.
Discuss details with our experts
Our experts will contact you within no time to discuss your project-related queries and to offer the best solution for your project development.
Choose engagement terms & timeframes
Based on the project consultation provided by analysts, you can choose the timelines as per your convenience for your project.
Secure payment methods
Pay through multiple options provided to you, our payment methods are highly secure and confidential. We start your project in no time as soon as we receive the payment. For your convenience, we provide the option of milestone payment.
Why are we the industry leaders?
- We build websites that manifest excellence and aptly meet the diverse POS Development needs of the businesses.
- We have full technical expertise in POS Development, we bundle the best-suited technology with every project to meet stringent deadlines.
- We make detailed workflow models for every project to sync well with the requirements to deliver the highest quality projects with guaranteed satisfaction to global clients.
- To keep up with the technological advancements and changes, we make our toolbox highly adaptable and scalable and implement these changes to our POSdevelopment services immediately.
- Our team is one of the best and technologically strongest teams in the universe that guarantees to deliver the exact solutions for the requirements that you have asked for.
- We believe in delivering the solutions that are the best in the market and are light on your pocket. Our price ranges are much lower than our competitors, so we can offer affordable solutions.
- We are available round the clock to answer our clients’ queries and help them serve better through different communication channels.
- We never force you to take hosting or other services from us, the choice is the entire of the clients.
- We always book domain and hosting on your name
- We provide you prices that are affordable in pockets and are also highly competitive.
- We offer content writing so that you get all solutions at one point and hence save on time and money.
- Since we are experts in SEO/online marketing we ensure that your site is search engine friendly.
- Our sites are fully responsive and mobile-friendly.
- The website we develop is never a replica or duplicate of any other website. We offer a fresh, unique, and creative website that gives a unique identity to your business.
Customer satisfaction guaranteed:
TRANSPARENCY: At NBT, we believe in complete transparency, we keep our clients fully engaged and updated during the entire project development cycle.
100% ONTIME DELIVERY: Our highly developed and time-tested project management strategies have resulted in a 100% on-time delivery track record for the past 10+ years of our operations.
FREE ONE MONTH SUPPORT: To take care of our customers even after the project has been handed over, we provide free one-month support to our customers after the final delivery.
FLEXIBLE ENGAGEMENTS: NBT offers customized engagement models, crafted to meet the exact requirements of clients with different business needs.
24X7 SUPPORT: Our experts are available 24*7 so that you can discuss with our experts at any time and solutions are provided to you just when you ask for them.
Top Reasons why our customers in 40+ countries trust NBT:
3000+ successful web applications and portals delivered since 2009.
50+ dedicated developers and designers.
Web development services for small, medium, and large enterprises.
100% Satisfaction guarantee.
Flexibility to choose from Hourly or Fixed Cost payments
Industries we serve:
- Retail & Ecommerce
- Banking & Finance
- Travel & Tourism
- Non Profit Organizations
- Government Organizations
Hire POS Developer
Hire our expert POS Developers to get customized solutions for your web application needs. Our high experience, qualified, and skilled developers have years of hands-on experience working with POS. The applications that we make are built using the latest technologies having all modern features that suit diverse business models at prices that are light on your pockets. Hire POS developers on an hourly or fixed price basis to take your revenues, profits, reputations, and consumer base at astronomical levels. Get in touch with us to know more.