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Point of Sale Software in Business Report

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Updated: Aug 28th, 2020

POS software Overview

Point of sale software is a finance tool (Stahlberg & Mailla, 2010). It is used in the acquisition of solutions as well as services and products. POS procedural approach does not correspond to the actual nature of proceedings but the end, i.e. the service is all the same. This type of financial transaction is more efficient in terms of the works involved and this places it a notch higher concerning other cash registrations (Stahlberg & Mailla, 2010). In every business transaction, there must be prior activities resulting in a buy. Such includes the service consumer making an order, which must be processed. He must do the actual buy and his card he is using to make purchases must be verified. After the purchase, the service render must administer the stock Stahlberg & Mailla, 2010). With POS, this makes work easier. For instance, when customers purchase items and present them at the payment counter, the POS underlying procedural system will be executed (Tyson, Wempen & Prague, 2007). This happens due to the presence of aspects of product expenses that lead to aggregate pricing. When this has been executed, a fiscal receipt from the POS device is issued. This receipt will comprehensively show the prices of the products bought as well as the expenses resulting from the sale of that product. This will be in terms of taxes charged on the product, and the discounts incorporated (Stahlberg & Mailla, 2010).

History of POS software

IBM was the pioneer of store systems. This followed as they announced the 3660 store system in the year 1973. During this particular year, there was the introduction of cash registers whose functionality was computer dependent. These included the IBM Sore System and NCR 2150, which was particularly designed to suit a controlling store system, and this would control 128 IBM 3653 as well as 3663 POS registers. As such, it was the very beginning of business-related usage of internetworking (Tyson, Wempen & Prague, 2007). It was still during this year that a barcode reader was innovated and it was known as UPC.

In the year 1974 around July, an IBM store system (3653) was incorporated at Pathmark stores and Dillard Department Stores, which were located in New Jersey (Tyson, Wempen & Prague, 2007). This IBM product was programmable and hence retailers became more innovative. It was Old Canal Café, which was situated in Syracuse in New York that pioneered in using the POS software (Tyson, Wempen & Prague, 2007). That was in the year 1979. Retailers to obtain customer orders upon entering the restaurant and a comprehensive were using this software in Apple II and preparation was printed in the restraints kitchen. The food would then be taken to the eating tables even before the customers reached the tables. This was made possible due to the incorporation of real labor and detailed reports on the food prices. (Tyson, Wempen & Prague, 2007)

IBM produced another version called IBM 4683. This was an opportunity as the POS system was integrated into that system. From there, it became a computer technology-based. This happened in the year 1987. The POS system had a controller that could run using a computer as well as thin which had a basis of POS work points. To network, the pc needed to be connected to a server that was of an IBM origin, i.e. IBM AS/400. This type of computer slowly began to fade away from usage due to the introduction of more integrated versions from IBM, which were 4693, and then 4694 computers (Tyson, Wempen & Prague, 2007).

.In the next decade, from 1980 to 1990, technology still developed and this saw the birth of Credit cards. This invention made it possible for credit card processing since this process became simplified. The early credit cards became modified as time passed by such that now the devices served a variety of applications.

Case study POS Solutions Pumpkin Patch Case Study

The pumpkin patch is a retail clothes shop selling quality children fashions and has acquired an international status. It ventures into other markets across the world and thus the cloth shop must obtain POS solution to capture the diversified tax systems, currencies, as well as gift cards as solutions. Also, the shop needs a pos solution, which is easy to use, reliable, and the latest inversion.

Still the shop needs to obtain POS software that is easy to use so as not to spend a lot of time and resources in providing training on the usage of the software (Marr, 2010). The solution to this is an infinity POS solutions software system.

In-store located in the United Kingdom and the United States of America, Infinity POS software is incorporated into the systems while those situated in Australia and New Zealand another version of Pos software, pos2000 is in use.

In each shop, there exist two lanes of POS software, which uses the store computer and networks using a server from the main branch (Marr, 2010). According to an official of the store, each store has a set out set guidelines, which guide the store in terms of the currencies; taxes levied discounts as well as the gift solutions. This is because of the locality of the store situation whose fiscal policies are different from another geographic location. The head office uploads these as well as the entire product file thus the branches can download them.

The infinity POS software is more reliable as it is easier to get it configured and thus easy to install applications into the software as per the set standards of that particular country the store is situated (Marr, 2010). The store in the UK found the going easy even though the team had not had an experience with VAT. In the USA ‘ each state uses tax rates that no other state use as well as different regulations governing retail businesses, infinity POS proved to be very helpful.

Infinity POS software reliability results from a very big volume of sales and never hangs due to workload. The store official says the store usually have long queues of customers waiting to pay. The infinity POS software never embarrasses as a whole lot of customers are served.

Since prices are set and controlled in the mother countries, profit margins are easily maintained. The store official summarizes by indicating that rapid growth of the store needs a POS system that does not need improvisation as the store grows and clearly, this describes Infinity POS software, as it is a kind that easily adapts to the current situation (Marr, 2010).

Arguments on POS software

POS system and stock counts

When a customer exits, the pos system removes the items bought by the customer from the list of the inventory in the hard drive immediately. POS also allow consciousness on points of reordering. Since the system records data, the managers can prepare reports, which give them the status of the inventory activities regardless of the time needed and thus becomes the basis of sales comparison between periods.

A physical count of on inventory is time-consuming and may lead to loss of sales since most businesses close the business for the stock count. The introduction of the pos system has made stock countless demanding as every data regarding the available stock and that which has already been bought is usually available.

The pos system also helps to identify the best customers and their preferences due to the transaction history at the point of sale. If, for example, a customer wants to buy something and is unsure of the serviceability, of that item, the POS system needs only to be fed with the barcode and the system brings a list of the spares available for that particular item. The point of sale is a place, which is regarded as the strategic service centers this, is the place, which will determine the satisfaction level of the customer.

The POS software and customer trends

A satisfied customer will always come back and make sure that he or she brings along another customer. The POS system is responsible for this societal ethic. A store, which uses the pos system, is in a better position to serve the customers within the shortest time possible. This system is free from errors and a customer will feel satisfied when a receipt containing all the items purchased and the expenses involved is comprehensive. This will enable the customer to incorporate trust in the store and thus making him come back.

POS software and society

The POS system makes sure that the store’s responsibility to the government is complied with. A POS system records data of transactions that help or which is used in producing reports on profits. These reports capture the finer details including the tax, which it pays to the government. In turn the government pools the tax revenue from different stores and thereby enough resources to ensure the development of the whole society.

Conclusion

In conclusion, POS software has a great impact on the business sector positively. It makes work easier, done at faster rates, leads to customer satisfaction, and in turn increases the sales volume of the firm. Its recording capability is vital, as it becomes the basis of reports. A firm that uses the system is more likely to grow than that which uses traditional methods. It is necessary for businesses to install the software into their system to enjoy the benefits in the long run and with that said and done; the business sector will always leave the parties, employees, customers, and the government completely satisfied.

References

Tyson J., Wempen, F., & Prague, C. N. (2007). Office Bible. New York: Springer.

Marr, B. (2010). The Intelligent Company: Five Steps to Success with Evidence-Based Management. Mason: Cengage learning.

Stahlberg, S., & Maila, V. (2010). Shopper Marketing: How to Increase Purchase Decisions at the Point of sale. London: Kogan Page Publishers.

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IvyPanda. 2020. "Point of Sale Software in Business." August 28, 2020. https://ivypanda.com/essays/point-of-sale-software-in-business/.

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IvyPanda. (2020) 'Point of Sale Software in Business'. 28 August.

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