POS
Point of sale (POS) is just another name for the cash counters where you pay for your purchases. This could be a supermarket or a roadside establishment or any other physical location where money is exchanged over the counter for consumer goods. But gone are the days when one used ginger and mental arithmetic for cash transactions. POS technology has revolutionized consumerism around the world. Electronic calculation, automatic billing, credit card processing and accurate recording of all daily activities are just a click away if you have POS systems at your point of sale. POS are designed to streamline sales processes and increase efficiency at the point of sale. The margin of error in account and personnel management is considerably less compared to manual POS management, since the information is stored and accessed electronically.
POS technology was first developed as barcode readers and electronic cash registers for the Universal Product Code (UPC) in 1974 for the United States and Canada; it was intended to speed up the payment process in a business transaction. But now, they are completely standardized computer systems that keep track of customer records, store and product information at a point of sale or service. What first served as an advanced calculator has now become a means of foolproof remote management of business procedures around the world. With the advent of wireless technology, POS has taken a step forward with portable POS systems that put information at your fingertips.
Many manufacturers and distributors offer ready-to-use POS technology, complete with hardware, software, and equipment to meet the specific needs of different users. They include monitors, computer terminals, scanners, printers, and cash registers, along with easy-to-install software CD-ROMs. The basic computer requirements for a basic POS system are Windows, UNIX, or Linux, depending on the type of software used for POS activities. Gathering business intelligence becomes much faster with the help of a POS system, providing accurate profit margin planning and increasing sales efficiency.