Point of Sales (POS) software refers to software used to capture information at the
point of sales. Efficient POS software has become necessary for achieving competitive
edge. To stay competitive, a retailer needs to develop ability to buy better, turn inventory
faster and market smarter. POS ensures all these. The system works on the principle
that key to survival is profits and key to profits is awareness of what is happening at the
point of sales.
POS software is hotly pursued by retailers. The software monitors the cash flow and
supports in handling finances which is important for success of any business. POS software
helps in Inventory Management by helping keep track of inventory and placement of
order when inventory falls below specified levels. Thus the software ensures delivery of
goods just in time. POS also helps in selection of merchandise as per customer requirements
and reduces possibility of retailer running out of stocks on items in demand. Online
enquiry systems facilitate ascertainment of out of stock items being available at other
locations. Thus, a retailer who runs out of a particular merchandise at one of its stores
can get it replenished from its other stores near by. Merchandising selection also improves
since POS software also makes available customer purchase history. Indirectly sales
become high and appropriateness of the software is realized.
The next area where POS software is useful is in the critical and crucial area of customer
service. Speed and accuracy are the watchwords for a business unit which POS software
takes sufficient care of. Commitments of special order gets honoured with timely
monitoring.
Personalized service gets offered through procurement of customer specific information. Technology in Retail
Retailers can use POS software to manage stock levels at minimum and maximum so as
to serve holding costs and costs of obsolescence. This would enable the retailer to balance
inventory levels by deployment of stocks as a cost arrangement. Today vendors have
developed easy to use POS systems. These help reduce cost in training. Such software
also helps in increasing efficiency. Today much of POS software is available free and
can be acquired with hardware.
point of sales. Efficient POS software has become necessary for achieving competitive
edge. To stay competitive, a retailer needs to develop ability to buy better, turn inventory
faster and market smarter. POS ensures all these. The system works on the principle
that key to survival is profits and key to profits is awareness of what is happening at the
point of sales.
POS software is hotly pursued by retailers. The software monitors the cash flow and
supports in handling finances which is important for success of any business. POS software
helps in Inventory Management by helping keep track of inventory and placement of
order when inventory falls below specified levels. Thus the software ensures delivery of
goods just in time. POS also helps in selection of merchandise as per customer requirements
and reduces possibility of retailer running out of stocks on items in demand. Online
enquiry systems facilitate ascertainment of out of stock items being available at other
locations. Thus, a retailer who runs out of a particular merchandise at one of its stores
can get it replenished from its other stores near by. Merchandising selection also improves
since POS software also makes available customer purchase history. Indirectly sales
become high and appropriateness of the software is realized.
The next area where POS software is useful is in the critical and crucial area of customer
service. Speed and accuracy are the watchwords for a business unit which POS software
takes sufficient care of. Commitments of special order gets honoured with timely
monitoring.
Personalized service gets offered through procurement of customer specific information. Technology in Retail
Retailers can use POS software to manage stock levels at minimum and maximum so as
to serve holding costs and costs of obsolescence. This would enable the retailer to balance
inventory levels by deployment of stocks as a cost arrangement. Today vendors have
developed easy to use POS systems. These help reduce cost in training. Such software
also helps in increasing efficiency. Today much of POS software is available free and
can be acquired with hardware.