POS terminal is a cloud-based POS system that’s well-suited for use in hospitality settings, with a built-in CRM and plenty of extra capabilities, thanks to its app store. Because everything is in the cloud, you can access your reports and back-office tools from any browser, making this a convenient and highly versatile option.
In terms of pricing, you can pay $240 up front for the machine, which can mean big savings in the long run: it’s cheaper after just 20 months of use compared to the monthly rate.
Product management and performance reporting will help you target opportunities, while employee reports enable you to train and incentive where necessary.
The built-in CRM will help you keep track of and analyze customer behavior. The loyalty mode is a great feature for hospitality businesses—it costs extra but is quite powerful.
POS stands for 'point of sale', and simply refers to the place in a store or restaurant where a financial transaction takes place. In the past, this has almost always meant the cash register, which often remains a prominent part of a modern POS system (it just doesn't have to).
The best POS systems have evolved to do much more than simply manage transactions: they can intelligently manage your stock; handle discounts, sales, and surge pricing; integrate directly with back-end accounting software; and even track employee productivity or theft.
So what is a POS system, for business in physical form exactly?
A POS system typically comprises four main hardware components: a screen to overview and manage information relative to a sale, a card reader, a receipt printer, and software that ties everything together. Of course, in retail sectors, a bar code scanner is also part of the system.
POS systems have evolved to become more flexible, so they work on many devices. For example, with nothing but a smartphone and mobile card reader, you can manage payments, refunds, and more.
When deciding which POS system to use, first consider what your actual needs are, as different platforms can offer differing features fee rates. Additionally, you may need a POS with specific tools for your business, so make sure you look carefully at both features and costs to ensure you can get the POS system your business needs.
