Feb 19,2020 Aug 06,2020

POS Systems

Small and large businesses require point-of-sale (POS) systems to complete sales transactions. It is the point where a customer makes the payment for goods or services. POS systems perform simple tasks such as processing cash payments to complex tasks such as inventory management and sales reporting and analytics. POS systems can be categorized from a technical and business perspective. From a technical perspective, the different kinds of POS systems -

  • Terminal POS:It is a device with a blend of hardware and software that is used in physical stores. It is used when the customer checks out his purchases.
  • Online POS :Retailers who do not have a physical store can use online POS solutions. They can log in to the system and conduct transactions. These systems can be hosted on-premise or in a public or private cloud
  • Mobile POS:Mobile POS systems can process customer payments for products and services through a payment processing application on a smartphone or handheld device. It is useful if the customers who do not want to deal in cash and also in today’s digital business world where cashless transactions have gained traction
  • Self-Service POS:Self-service POS systems allow customers to input the requisite data and check out purchases on their own. These POS systems need not have any operators and are used in use cases where sales personnel are not required to be physically present to manage the sales process.

From a business perspective, POS systems can be classified as -

  • Retail POS :These POS programs are used in supermarkets, malls, and retail stores. They will have features such as barcode scanner or e-commerce integration.
  • Restaurant POS :These are used in the food and beverage industry. They will have features such as splitting of cheques, tracking tables’ status, etc.
  • Hospitality POS :These are used in hotels to complete check-in and check-out formalities for guests.

Why Do You Need a POS software application ?

POS systems are required by businesses to manage sale transactions, track customers and manage inventory. A good POS system can enhance your productivity and profitability. It will enable you to

Inventory reports can be generated -

  • Increased Process Efficiency:POS systems automate routine tasks. They also ensure that transactions are processed without errors. They have intuitive user interfaces making it easy for end-users to learn and use the system. POS systems make processes like checkout, product return and data update of back end systems more accurate and quicker. It is not possible to manage all these functions with cash registers. End Customers also find it easier and quicker to use POS systems to complete their shopping experience. This leads to increased goodwill for the business in customers’ minds.
  • Multiple Payment Capabilities :POS systems can process diverse payment types such as cash, cards, chip-based cards, mobile wallet payment options, and contactless payment options. This will allow increasing revenue as the business will be able to service more customers and it will increase customer satisfaction as customers have multiple payment choices.
  • Improved Inventory Management:Unlike cash registers, point of sale applications facilitate inventory management. They have features like product quantity tracking, reorder triggers’ set-up, product return management and provision of real-time inventory data within the outlet and across outlets. This helps to keep costs under control, minimize wastage and prevent pilferage.
  • Enhanced Reporting Capability:The business can generate comprehensive and accurate reports. Different types of sales reports are generated -
    • Current and historical sales reports based on product types and the number of items sold and an overall summary report.
    • Revenue and profitability reports for the organization as well as on an outlet-level basis.
    • Sales performance KPI reports

    Inventory reports can be generated -

    • Stock turnover report
    • Sell-Through rate report
    • Inventory level reports across multiple stores

What kind of POS systems can NCrypted provide?

NCrypted can develop versatile Point of Sale technology applications that can provide a range of features -

Order Processing

Our system will incorporate basic functionality such as -

  • Identify and Track sold items
  • Barcode scanning
  • Billing
  • Process discounts and loyalty points
  • Process payment via different modes
  • Print and email invoices

Customer Management

Our solution has capabilities such that your customers experience a smooth and personalized shopping process -

  • Manage customer profiles
  • Track purchase history to personalize offers or provide discounts on relevant items
  • Provide insight into customer behavior and habits so that you can develop tactics to engage with the customer
  • Ability to create a customized loyalty program for your customers. Customers can earn points and you can set up a reward system in the form of promotions and tailor-made offers

Inventory Management

Our solution provides a comprehensive inventory management module that allows to -

  • Create and update SKUs
  • Classify items into various categories
  • Tracking stock levels of items based on features like price, size, and colour
  • Set up reorder quantity levels and display notifications when the stock of any item hits the reorder quantity level
  • Generate purchase orders for items that have to be replenished
  • Manage stock adjustments

Integration with other systems

We understand that you might have an existing IT ecosystem. We can build solutions that will integrate with multiple software applications and hardware devices. We can customize the solution to integrate with -

  • eCommerce platforms for online sales
  • Hardware devices such as barcode scanners and terminals for in-store transactions
  • Accounting software so that information regarding sales and purchases is updated for financial management
  • Warehouse systems to keep track of products, purchase order generation and minimize loss and theft
  • Email marketing campaign tools for sharing customer information and customer purchase history

E-commerce

Online shopping is ubiquitous. Our POS solution will incorporate features for

  • Browsing products online on multiple devices such as desktops, tablets, and mobile phones
  • Placing orders online with cart management features
  • Order completion
  • Processing of payment via multiple options and
  • Integration of online sales information with inventory management

Reporting

Our reporting and analytics module will give you a complete view of your business. You can track vital data and get real-time insights required to make key business decisions. It can provide reports such as -

  • Current and Historical Sales reports for various periods from one day to multiple years
  • Reports on sales trends, sales forecast trends, product demand
  • Sales reports classified based on employee, customer, and location for any time period.
  • Inventory reports for real-time view of available inventory restocking, SKU transaction history, and inbound & outbound inventory.
  • Customer insight reports related to customer information, amount spent, type of products purchased and loyalty program related parameters.
  • Charts and dashboards that provide current and predictive analytics on sales and customer behavior

Our POS solutions have the ability to transform your company’s processes and help you save costs, improve efficiency, increase profits and ensure that your customers are satisfied.

 

Having difficulty submitting this request? Contact sales@ncrypted.com for a prompt response.

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