Point of Sale system
A POS or Point of Sale system is essentially a system that calculates and eases the payment process. POS has software used for recording all the details of each sale as it occurs, all the while updating the inventory records while providing customer management features that enable easy operations of your store.
It further generates reports for you to make an easy analysis of sales data possible. The hardware of a POS may also consist of a bar code scanner, cash drawer, receipt printer, order puncher, and other such peripheral equipment based on your own needs.
POS in retail has seen many innovations over the years, but now, we have witnessed some very innovative POS systems come into the market with the rapidly changing technology. The invention has brought more ease and comfort for customers and retail shop owners. Retail business owners are demanding more unique innovations to stand out from the rest of the competition.
Some of the innovations that we see in POS systems are discussed below.
No checkout POS
Point of Sale Systems has revolutionized retail businesses. Imagine a store where you arrive, walk around in the aisles looking for your required items, pick them up and walk out of the store with them. It is possible. An innovative POS system automatically generates payments the minute you walk out the door. There would be no physical POS system and no requirements to scan codes. Originally brought forward by Amazon, this innovative POS system is now making its way into the mainstream retail business sector. The new POS System uses sensors and artificial intelligence to make the payments with a customer’s virtual cart, where the customer charges for the products without physically checking.
Mobile POS app
Order and pay on the move the next time you head out to eat or grab a coffee. Please make use of the interactive apps on your phone that also act as an innovative POS system, allowing you to order your food and pay for it as you go, enjoy your meal, and leave.
A coffee shop in the UK introduced this innovation. It simply quickens your procedure, allowing you ease and comfort while also allowing business owners to comfort a hustle-free counter. The same point of sale system is being followed by a shoe shop in the UK, allowing you to buy a selected product by simply scanning the code on your product and automatically making a payment.
Virtual shopping with tablets
Innovative POS Systems are also helping to enhance the customer experience by not having to go to every retail store. The products are on display, where a giant tablet is at the window, allowing customers to go through the latest clothing collection of their favorite brand. The customer has access to designs, colors, and various stuff at their fingertips without wasting their time going through stacks and rows of clothing. You can then use the same tablet to place your order and pay for it. This POS system is gaining quick popularity in the US.
Make your face your money
A hotel in Birmingham has come forward with a unique innovation in the POS where all customers must smile as they check out. It triggers a picture that is matched to your profile picture on PayPal, allowing you to make payments on the go without having to go through any hassle. Once you make a payment, an e-receipt generates.
POS Systems are revolutionizing the way customers experience shopping. As newer POS Systems generate, the customer experience is enhanced, providing both the business and customer benefits.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.