Till around a few years back, when you talk about retail business, the retail shops were generally small, single storey structure. Mostly, the owners who manned the cash counters had direct physical access to other staff members, so communication was more direct and verbal.
Even though we still have such small format stores, but we see emergence, in a big way, of large format multi-storeyed super markets, hyper-markets and retail chains spanning even 100,000 square feet or more of retail space in each store.
These big stores stock a large variety of products and in big volumes in order to cater to a huge clientele. For such large stores, it will be practically impossible to keep manual track of inventory movement, sales revenue and cash flow on a day-to-day basis.
There has to be a system whereby sales and other parameters are electronically recorded at the sales counters along with improving customer service, transaction quality as well as accuracy of sales. Instantaneously, inventory management, sales accounting, financial accounting, payroll & personnel modules should be updated.
We now come across a concept known as Point Of Sale Systems. What is POS?
POS is point of sale. The best place to record the above transactional information is at the time of sale. That is at the retail sales counters. The POS System used by the counter staff should be highly robust and, at the same time, easy to use. The pos system should be able to handle the following complexities:
- avoid manually typing of pricing and quantity. In other words, incorporate a barcode input device, or in other words, a barcode reader.
- Fast and accurate processing which will, in turn, improve the speed with which you are able to service the customer at the counter as well as deliver high quality of transactions.
- Simultaneously update all business systems including, inventory, payroll, attendance, financial accounting, sales & billing and management reporting
EPOS is an established company in Singapore that delivers high quality retail POS systems and POS software.