RSL Point of Sale

Point of Sale (POS) software is a bundled solution that is best described as a combination of a billing, accounting and inventory management solution. Simply put, a POS software helps businesses process billing and purchasing easily, generate invoices and keep a steady track of their products sold and in stock. Such tools combine the functionalities of both a computer and a cash register. With POS software, sellers can input orders, compute the cost and receive customer payments.

There are two major components that comprise a POS system – the hardware and the software.

• Hardware – This is the physical set up of machines that could be a cash register connected to a server or PC, or even a tablet device linked to a cloud-based system. It could also have some necessary add-ons like cash drawer, receipt printer, barcode reader, and card machine to process payments made via debit or credit cards.
• Software – The hardware is used in tandem with POS software which stores information and manages it within a database. POS software features vary widely depending on the end user and the industry. Some software suites carry general functions that cater to numerous industries, while others are niche-specific.

This system can be accessed directly from the Internet and is often compatible with most POS hardware (cash drawers, printers, etc.) Cloud based POS systems are less expensive, and they're convenient because merchants can access customer data from anywhere provided they have an Internet connection. This is great if you're a small business who sells in a brick and mortar store, ecommerce store, or participates the occasional trade show or flea market.

POS software can have as many features depending on the requirement of the end user and the industry it will be used for. Few POS software offer integrated modules in comprehensive ERP software packages, while others are sold as standalone solutions. However, there are basic functionalities common to POS systems such as:

• Inventory tracking
• Sales reporting and analytics
• Customer management
• Employee management
• Mobile access
• Integration capability

Some of the benefits of a POS system are as follows:

• Increased Efficiency
• Expanded Payment Capabilities
• Greater Accuracy
• Inventory Management
• Employee Management
• Reporting
• Detailed Receipts
• Faster checkout