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Point of Sale Terminal
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Point of sale (PPS) refers to the location where a buyer enters the sales transaction and is responsible for paying for items purchased. It can also be in an actual retail store, where traditional POS systems and terminals are utilizing to process credit card payments or even a virtual online point of sale such as a mobile electronic device or computer. It is often found within the point-of-sale environment, or at a store's front desk or cashier, as well as a service counter at a retail establishment. Point-of-sale systems are very useful for the salesperson, as well as for management and operational personnel. They can help automate routine tasks, provide increased productivity and reduce errors.
The purpose of a Point-of-Sale System (POS) is to make the retail environment more efficient by automating the tasks that previously required human intervention and supervision. A POS has a number of components, which include computer hardware, software, wireless connectivity and inventory tracking systems. Computer software applications can help automate tasks such as order placement, sales processing, payment and inventory tracking. Wireless connectivity helps allow retailers to operate from one point to another. In some cases, the POS will have a computer database, which can keep track of the flow of products from one point of sale to another.
Point of sale systems play an important role in the retail business environment. Without them, the retailer would be forced to employ human employees to perform routine tasks, which could be very time-consuming and costly. Retail stores, both large and small, use a Point-of-Sale System for many reasons. For example, if a retailer wants to keep track of sales or inventory by using an electronic point of sale device, then a POS system can help. In addition, a Point-of-Sale System helps to save time for the retailer, since all sales transactions are processed on the POS terminal.
Point-of-sale devices include everything from small handheld POS devices to larger Point-of-Sale Systems. Some smaller retail shops use POS devices that include a card reader, while larger stores often use Point-of-Sale Systems that has built-in card readers, check-out systems and other additional features. In addition, Point-of-Sale Systems can integrate with a networked retail store network and can have wireless connectivity. which makes it easier for customers to pay their bills through a point-of-sale terminal or store-wide terminal.
Storefront point-of-of-sale systems also include features that help to improve customer service. POS devices usually include swipe card reader technology, which allows the customer to insert the plastic card directly into a reader, which records the transaction and electronically transmits the data to the Point-of-Sale System. A storeowner can view the transaction history of each item at the point-of-sale terminal or can print out a receipt when the transaction is complete.
Retail establishments also incorporate point-of-sale software with POS devices, allowing retailers to manage the inventory, sales and receipts, and generate reports and other reports. Stores also utilize point-of-sale software to create web-based catalogues and create e-commerce websites. Retailers use POS software to integrate these systems with the databases and accounting software that manage accounting procedures.