Optimal Features of a Retail POS
retailciooutlook

Optimal Features of a Retail POS

By Retail CIO Outlook | Thursday, February 21, 2019

POSA point of sale (POS) is a device used to manage the transactions for business, including credit card processing, and also must provide the post-transaction operations that lead to customer fulfillment. A POS system can integrate other software like accounting apps or connect with networks and databases to expand the business’s operational flexibility and capability.

Shipping Integration

The POS helps to ship products to customers with different kinds of services. Shipping module of the POS system communicates directly with shipping carriers to get real-time shipping quotes; the POS applies shipping methods and provides shipping labels to the register. Customers receipt also prints out with tracking details.

Pricing

Even though each product has a standard price, in different situations such as loyalty programs or promotions, often require a changed price to be applied at the time purchase. The POS system can keep track of price variations in the system to use the appropriate price tag.

Multiple payment methods

Along with traditional payment methods like cash and credit cards, a POS must also be able to accept mobile or e-wallet payments and other online payment modes. Customers must also have the option to split their payment across various modes.

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Inventory management

A POS system should definitely have primary inventory systems like stock visibility and integrated accounts, auto-ordering, and product variants. For larger outlets with multiple stores, a greater variety of features such as stock transfer, barcode scanning, and printing, etc. are needed.

Tax Compliance

For businesses with multiple stores in different states, tax compliance feature assists the business to manage the tax regulations of different states.

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Discounts

The system should be able to store the price changes and calculate discounts quickly so that customers don’t have to wait for hours in a queue. Seamless coupon generation and scanning will make the checkout process much faster for both the customer and the cashier.

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