Every business needs a cash register to tackle sales, inventory and storage issues. A cash register is essential to run a business efficiently but using it today may be an out-of-date idea. A cash register is just one step ahead of calculators and it has been decades since its invention. On the other hand, POS or the point of sale system is a comprehensive cash management system in today’s market. It makes every step easier for a retailer while processing sales.
What makes POS a better system to help you manage your cash in comparison to a cash register?
POS system gives you a variety of new features that a traditional Tpv táctil cash register is sadly unable to provide. These features make a POS system far more superior and beneficial in managing inventory for any business. A more detailed review of these benefits is listed below.
The Benefits of POS System over a Traditional Cash Register
Detailed reports: The basic feature of any POS system is that it can store much more information and that too much faster than a traditional cash register. It gives you the facility to pull out information from any terminal of the business within seconds, directly through the central hub, which has access to all inventory data of your business. A point of sale system has the ability to pull out reports on the fly and brings up to date and exact information about sales, items, time log and much more.
Faster checkout speed: Since POS system primarily uses bar code scanning or similar feature, hence modifying and completing a transaction is done at a faster rate. When you make a comparison between the traditional methods and the point of sale method, you can easily see the transaction time difference. Keyboard entry of a 12 character data, which is a typical UPC length, would take about 6 seconds and scanning it in the form of bar code would take just about 2 seconds. Obvious now, this system is faster and accessing data is easier too. POS system facilitates using features like ‘refunds, void or no sale’ so simple that it’s just a click away.
Accurate reports: Accuracy is the most important factor when you are dealing with a large inventory. One single mistake can lead to a blunder. “To err is human.” This has been a long known proverb and no one can prove it wrong even today. Using a POS system makes your calculation and database almost 100% accurate. Unless the machine somehow malfunctions, there can be no mistake for even the 10th place of decimal in your calculations.
Fast Facts: As per studies, normal keying of details by even experienced cashiers is one error in every 300 characters typed using a keyboard. Now let’s see the case with POS system. A bar code reader for an example here has an error in 15,000 to 36 trillion characters scanned and it depends on the type of bar code. Yes, this is a huge difference. Apart from making mistakes through the traditional method, it also incurs extra cost of correcting the mistakes and making the final reports faulty. Some of the times, the prices of some items need to be changed and it might be a hectic task to make the correction at every junction the data is stored. In the POS system, you can make the change at every place by just making the change at the hub or the back office primary database. Some of such software prints shelf labels and you might not need to change the price tag on every item.