A POS(Point of Sale) billing system is the combination of software and hardware to facilitate your business operations. Hardware may include a computer, a physical terminal, a barcode scanner, a thermal/regular printer, and other devices to operate the point-of-sale software. The software tracks and organizes your business information and helps you give proper insights for your daily business operations.
Point of sale billing software allows you to record and track all your invoices. There are several types of transactions to manage in a business and it is important to be able to easily distinguish them. You can find invoices for purchases, sales, orders, receipts, consignments, and other utilities to ease invoicing on the software. Easy invoice management is especially important for your accounting operations. It is proof that you have sold a product or service. The invoice contains important information for the buyer such as the transaction value, the number of goods sold, the description of the goods, etc. Performing this follow-up would be complex if it were done manually. Thus, the point of sale billing platform makes it possible to issue invoices, record purchase information and sell much faster than if it were done manually.
A POS billing software makes it easy to keep track of the inventory your store has. It allows you to manage your inventory in real-time and to know the number of products you own over a given period. When you receive your inventory, if these products are already in your catalog, simply make stock adjustments, enter their quantities and the items will be recorded in the inventory of your POS billing software. This saves a lot of time compared to manual tracking of your inventory. In the end, there will be fewer errors in your inventory. Items sold are deducted directly from the inventory with each transaction. This makes it possible to keep track of the quantity of each item the store has in stock.
A point of sale helps make business owners collect payments faster. The invoice can be sent by email or printed directly on the spot with a receipt printer.Depending on the integrations and the terminal, customers can pay by cash, UPI, QR code, credit or debit card. This makes it quick and easy for the customer to complete the transaction. With a point-of-sale, waiting time is greatly reduced for consumers, and business owner can be more efficient in completing transactions.
By having a POS billing system, it is possible to document your customers’ information in your system for better business management.
It can be their name, phone number, purchases, GST details e-mail, etc. By having customer data, you can have a better overview of your target market, as well as customer groups like the customers which buy your products more often You can send promotions to your customers to incentivize them to visit your shop more often or to build customer loyalty. The system can help you track each customer`s sales, payments, pending collections & items they are buying.. Having proper customer information management allows you to thoroughly understand your target customers and make better business decisions.
Purchasing equipment for your business is essential. This is why a POS billing system is useful to properly manage your purchases from your suppliers. It allows you to keep track of all your orders placed.
Some POS billing software have an option to maintain sales and purchase separately.When you place your orders from your point of sale, you will be able to view all your invoices for your orders in your POS billing system. This gives you control over purchasing and allows you to keep track of items ordered from suppliers. When you purchase equipment from a supplier, you will record a purchase invoice that contains all the information about your purchases. This includes the products bought, quantity, description, cost, and more. Also, a POS billing system allows you to plan your future purchases, as well as the minimum amount of products you need for your store. This helps to have better control of your purchases and to have the optimal amount of stock in your store to minimize your losses.
Creating manual reports takes a lot of time to compile, complete and organize. It can become difficult to gather relevant information in your reports to fully understand the state of your business. With POS automated software, it allows you to create reports automatically to have an overall view of your business. With a POS invoice system, reports are automatically created for several aspects of the business like sales, purchase, profits, daily orders & stocks. Thanks to reports that cover several subjects, their analysis can help orient your business decisions. Also, it will be easier to know your business`ss progress and to implement process and sale optimizations.
The security of a business's data is very important. Your data needs to be accessible to the owners only. With a POS billing system, your data is more secured from unknown intrusion. Most systems offer double user authentication. This reduces the intrusion of malicious users into your system. Also, the administrator can quickly grant or block access to users. If you want your data to be backed up and protected at all times, use a cloud-based point of sale. At PayO POS, our cloud computing solution allows you to back up your data systematically and automatically. Also, you can consult your data anywhere and at any time. By having your data stored in the cloud, you can be sure that it’s covered from all invasions.
It can become difficult to manage several stores in a network, where each has specific needs according to their customers. Few points of sale softwares offer the possibility to manage networks of stores or “multi-store” management. These features can significantly reduce the workload for your business that owns several establishments. PayO POS is software made for networks such as franchises, stores at different locations, or having different businesses.. If you choose our multi-store management package, you can manage your network from the Master or the admin account If the Master account makes a price change, product additions, or promotions, for example, the other stores connected to the admin account will receive these changes.
Some POS are cloud-based, others are installed on-site with a local server. However, the POS installed on site are exposed to multiple risks such as data loss, difficulties in tracking inventory, risk of errors and others. PayO POS offers a cloud-based point of sale where you can consult your data anywhere with better protection. With PayO POS, you can consult your data anywhere and anytime by logging in to your admin account. You can follow your company’s activities in real-time even if you are outside your establishment. Additionally, your data is better protected from all invasions. This allows you to manage and control your operations even if you are away from your store.
A POS billing system can help you reduce the number of errors in your business activities. The system can assist you with multiple functions to help you reduce mistakes automatically. For example, with inventory management, the details of your items are simplified by scanning your items. The system will automatically adjust your inventory when there is a sale or a return for example. You will no longer have to enter your items manually. This can greatly reduce the mistakes of miscounting when you enter your inventory in the system. Besides, the point of sale automatically creates reports for sales,purchases, inventory, etc. You do not need to create reports by yourself and this minimizes errors.
By using a point of sale billing platform, you are likely to save more time in-store. The system can help you with several features that reduce the number of operations. As mentioned in the previous points, the software can help you with inventory management, orders, purchasing, customer management and more. Some functionalities can even perform actions automatically. For example, the creation of real-time reports or the minimum quantity of products to keep in inventory. These features can save your company time. The software can assist you in these different management tasks and reduce your workload.