If you have an outlet engaged in the retail of products or services, you need to incorporate various skills and techniques to manage efficiently. Operation of an outlet would require that you are sufficiently equipped to handle multiple tasks like putting together monthly sales reports, inventory, and customer manager. You can ensure that all these tasks are carried out smoothly by installing a POS (Point of Sale) System or a credit card POS machine.
What is a POS (Point Of Sale System)?
A point of sale is when a customer makes a payment for the goods or services rendered to him. If a customer is making a payment at any outlet, he/she is executing a POS transaction.
A POS is a central point of your business where you can carry out all the essential tasks like customer management, employee management, sales, and inventory management. It replaces traditional methods of maintaining records physically using a cash register, sheets for employee records, etc. POS machine companies offer a single point solution for all your business needs, simplifying all the tedious tasks associated with managing a retail outlet. A POS system consists of both hardware and software components. Let us have a look at each of them-
Let us have a look at all the essential hardware you need to have for a POS system-
- Computer/Tablet – This device will display all the transactions and product database. It stores all the information. You choose a desktop, a laptop, or even a laptop.
- Cost- This could cost anywhere between Rs.15k to Rs.1 lac.
- Barcode Scanner: Barcode scanner automates the payment process. It pulls up information from the system and then adds it to the bill of the customer.
- Cost – Its price starts from Rs. 2000
- Credit Card Reader –A Credit card POS machine is indispensable as most customers use a credit or debit card for their purchases.
- Cost – Swipe Machine price could be anywhere between Rs. 1500 to Rs 5000.
- Receipt Printer: Even though electronic receipts that can be sent via e-mail or SMS have become more prevalent, paper receipts are still required.
- Cost – A Paper Receipt Printer can cost you around Rs. 8000.
A POS software is billing software that works each time a sale is made. It carries out multiple functions like updating your inventory, customer management, maintaining stock, employee management, generating invoices, etc. Primarily, there are two types of POS software –
ON Premise POS or A Cloud POS
For this, you would need to buy a physical copy of the software, which could be stored on a disc or a hard drive. You will be required to update it manually. It may also require few trained IT professionals for its operation. You would not need an internet connection for its operation as it will store all your data online.
Cost – The cost of an On-premise POS starts from Rs.14000
Cloud-based POS has grown in popularity relatively recently. A cloud-based POS offers greater convenience as users can access it from a remote location through EPOS online. It requires an internet connection all the time. If you have multiple stores, then you manage them online through any location. Moreover, users can update the software using an internet connection. All the user data is stored on a cloud system through EPOS online.
- Cost: Prices for Cloud-based POS starts from Rs. 10000
The price of POS machines varies depending upon the scale of your operations. POS machine companies charge more if you have more than one retail outlet. Cost of hardware like swipe machine price, computer, etc., is also to be taken into account. We hope that this article has helped you understand the pricing of POS machines.