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Point of sale (POS) systems, as the name suggests, are systems installed in commercial organizations at the point of sale ie. the payment/check-out counter. Modern POS systems are generally computer-based systems that have brought about a revolution in the way customers pay and check out of a store.

The installation of the computerised point of sale system has generally resulted in a drastic reduction in the time taken to service customers, and thereby leading to an increase in efficiency and productivity, whether it be a restaurant, supermarket or even a casino. In fact, it would be hard to imagine a shopping outlet without a decent POS system.

A good POS system can be of great use in:

• Boosting overall efficiency and reduce manpower costs, by the ability to handle more customers in the same amount of time with fewer people.
• Preventing misappropriation of cash/ payments with the right checks and balances built in.
• Providing the ability to accept multiple currencies with in-built currency converters.
• Identifying the buying habits of customers and thus, providing valuable information for making the right sourcing/ procurement decisions: higher-end POS systems can help with product tracking and inventory management.
• Keeping track of buyer loyalty and thus rewarding such loyal customers. Smart POS systems equipped with recommendation software can help give customers alternatives and thus provide them with greater value.
• Monitoring point of sale employee productivity.

There is a plethora of POS systems available in the market now, with the modernization of shopping outlets, with ease of use for the operator becoming a key factor. Therefore, one will find may POS systems being easily operated with a touch-screen.

Powerful POS systems are a necessity for most product-sales organizations, both for improving internal efficiencies as well as improving customer satisfaction. However, a good POS system involves the hardware component as well as the software component and it is important to get both components right when buying one.

In this buyer's guide, we touch upon some of important characteristics and features of POS systems and the important things to take note of before placing an order with a POS vendor.