Why POS System is Significant for Retail Business
09-12-2017 00:00:00
Why POS System is Significant for Retail Business

Technology is modernizing everything we do, and retail industry is not an exception to this revolutionary changes, thanks to customers’ ever increasing crave for better shopping experience. 


Retailers are in constant need to enhance and streamline their performances and improve processes to achieve great speed without compromising on quality of service. Point of Sale, also known as POS is one such area through which retailers are now focusing to attract more customers while retaining the existing flocks.


Point of Sale is the system, which includes hardware and software components, that controls transactions between the customer and retailer. Instead of having separate system for each cash register, just one POS system is enough to control the transaction side of the business, touch screen monitors and other supporting systems. 


POS Software for Retail Business

POS system helps retailers to streamline their business and make all transactions through one single system. The POS software is so powerful that it helps retailers to manage inventory levels, receipts and payments, and accounting in real time. Since most of the crucial and complex business activities can be controlled through a central system, it becomes easy for retail businesses to handle store operations efficiently and also with nil errors.


Each system uses Point Of Sale software unique to business type which integrates all the business activities simultaneously. This can be quite complicated if handled manually. For example, a retailer with net connectivity, can use mobile Point of Sale to attend customers from any corner of the shop, check and bill them on the spot, find in-stock levels in real time, understand individual customer’s buying pattern, sales volume or one or multiple stores, customer footfalls, initiate instant discounts or coupons to customers inside the store by sending offers to their mobiles and so on.


Cloud POS 


Retailers having multiple businesses or stores are now-a-days using Cloud Point of Sale system, which is online based using mobile Point of Sale handheld devices or tablet POS. The Cloud POS is a paid service generally offered by software service providers. Retailers have to pay a nominal monthly fee to avail the service. In return, retailers get several advantages such as no over head cost of owning costly POS system and software, no recurring expenses, no downtime due to system failure, no need to spend on frequent software updates, no worry about data theft/losses and so on. 


With government of India making cashless transaction mandatory, retailers are shedding inhibition towards adopting technically advanced POS system to run their business. POS manufacturers are taking advantage of the situation and pushing more advanced POS systems in the market which has several added features. 


Magic Box – an advanced MPOS solution


Recently, Millennium Soft-tech, the pioneer in bringing advanced POS system to Indian retail market two decades ago, has recently launched MAGIC BOX, an intelligent and handy Mobile POS with integrated payment system for small and medium retail businesses. 


Operating using Cloud POS technology, MagicBox can be used by any small or micro retailer such as pan shops or even tea shops to accept digital payments and provide improved customer service while making their mundane operations lot more easier.


With MagicBox in hand, shop owners can, not only do spot billing, but also check inventory, record sales, CRM, business analysis, accepts payments through multiple modes – cash, card, coupon or e-wallets.

-K Ramanathan ram@justransact.com

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