If you are managing a grocery retail store or any type of retail business, with increasing volume of business, it becomes practically not viable to manage the entire process using the traditional system – manual billing and accounting.
With competition reigning high posing grave threat to your retail business from technically advanced peers, it becomes imperative that you shelve the age-old business operation methods and switch to modern, sophisticated and automated retail business management solution.
The first question which comes to our mind that how much does a modern POINT OF SALE management solution cost for a retailer? Depending upon the size and nature of retail business and features, technology and parameters you are expecting from the new POS system, the price of electronic POS system can vary.
Modern POS system can be divided into two sections – software, which is the central system which controls all operations and hardware components which are integrated by the retail software solution.
You must have been using the traditional manual cash register which is only used for generating bills. It is manually operated device where combination of keys to indicate the product name and its price. Each data should be manually added by the retail shop owner.
However, the modern POS system can be useful in so many ways to owners that he can’t do those works even with the help of few people.
The minimum hardware components required for a standard sized grocery store can be a computer system with good RAM support, hand-held or desk top barcode scanners, barcode printers (to print barcodes and price labels on self-packed items) and a payment terminal to accept credit/debit cards.
If you want to have more advanced system, you can go for touch screen monitor or all-in-one POS terminal with the above mentioned add-ons.
For supermarket type of stores, you may need more sophisticated POS system which can do multiple functions for you. Certain POS accessories too you can consider to buy which will add more value to your customer service. Some of the most famous accessories are Cash drawers, Pole displays and magnetic stripe readers.
Apart from managing your billing efficiently and fast, these technologically advanced POS system can do myriad of functions such as inventory checking in real time, staff management, customer relation management, high demand products, products which are nearing expiry dates, customer purchasing pattern, generating day, week and month-wise sales comparison charts, managing payments to suppliers and so on.
If you are a tech savvy retailer, you can go for a mobile POS system which looks like a cell phone through which you can bill customers wherever they are, generate physical bills or send electronic receipts to their mobile or email box, check inventory inside the store or multiple stores, and send offers and coupons to customers’ mobile instantly, etc.
Cost Chart (approximate minimum to maximum cost)
POS Touch screen monitor: Rs 53,000 to Rs 95,000
Computer POS system: Rs 40,000 approx
Barcode scanner: Rs 3500 to Rs 18,000
(Types: CCD scanner, Laser scanner, Linear Scanner and Area image scanner)
Payment terminal: As charged by your bank
Cash drawer: Rs 6200 to 10,000
Hand-held-Terminals: Rs 11,800 to Rs 100,000 (approx)
Pole display: Rs 6000 to Rs 10000
Magnetic Stripe Reader: Rs 3000-Rs 5000
Barcode Printer (desktop): Rs 15000 to Rs 1,20,000
Retail software: Rs 15000 t- Rs 1,50,000 (depending upon your requirement)
Check your software vendor next to you here.
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