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There are some fundamental "virtues" or characteristics for a POS system. By all accounts, any system must be reviewed against these key attributes.

Speed: A good system must be very fast in reading the key units, say price and quantity of any goods being purchased, and computing the amount payable by the customer.

Accuracy: Ideally, a system that can eliminate human error from the person at the cash counter, would be great; of course, the choice of the system will be a function of the need and budget.

Security: It is very important for the POS system to be secure and not allow unauthorized personnel to access it. At the same time, the system must have the flexibility to ensure that designated personnel can quickly "unlock" the system without too much difficulty if and when the system gets "stuck".

Ease of use: The system should be such that the person at the sales counter can handle the job quickly and efficiently without a lot of training required. The greater the amount of training required, the costlier it becomes for the organization; it is also likely that such a system is going to be slower and reduce the overall efficiency.

Fulfilling these key characteristics will determine whether the POS system can provide the main benefits that these systems offer: improved efficiency and related cost savings for the organization and higher levels of customer satisfaction, which will play an important part in customer retention and thus, revenues for the company.

In the next piece, we will discuss the key factors to consider when purchasing a POS system.