Point of Sale (POS) Systems PDF

THE POINT OF SALE SYSTEM T P C 1 0 0 / L  1 Define POS. Describe the different uses of POS. OBJECTIVES 2 Describe the hardware used in POS. 3 4 Discuss the different types of POS. POS (POINT-OF-SALE) SERVICE PO...

THE POINT OF SALE SYSTEM T P C 1 0 0 / L  1 Define POS. Describe the different uses of POS. OBJECTIVES 2 Describe the hardware used in POS. 3 4 Discuss the different types of POS. POS (POINT-OF-SALE) SERVICE POS (point-of-sale) service Point of sale (POS), a vital aspect of a point of purchase, refers to the location where the payment for products or services is executed by a buyer and where sales taxes may be payable. It may be in a physical store where card payments or a virtual sales point, such as a computer or mobile electronic device, are processed using POS terminals and systems. POS (point-of-sale) service Points of sale (POSs) are an important priority for marketers because at these strategic sites, customers prefer to make buying decisions on high-margin goods or services. Traditionally, when consumers depart, companies set up POSs near store exits to maximize the rate of impulse purchases. WHY IS POS SYSTEM USEFUL?  Using the POS system can have a positive effect on your business. It enables you to have greater control over the operations of your company. You know exactly what items you sell on a daily or monthly basis with a POS system, how many products are in the warehouse or how much money you have made.  It allows doing better analytical thinking and planning. For instance, the POS framework makes it easier to keep track of your inventory, to identify and evaluate movements and patterns in sales processes, to analyze your sales reports and other data to more accurately predict future trends and the requirements of your business.  It allows you to increase your business efficiency. The POS method saves more time when handling the company's paperwork. It makes it very easy to handle bills and orders, sales figures or reports. In addition to the office climate, the POS system, thanks to various POS features such as barcode scanners or credit card terminals, also improves the productivity of the regular sales environment.  It allows you to make personal client communication more efficient. As a POS device, collecting the contact details of your best customers at the same time as they complete their transaction makes it really simple. In order to create personal offers and improve personal customer contact, this information is valuable.  You can save money and raise your income with a POS system and, in addition, the POS system lets you make more informed business decisions. Common types of POS hardware  Register: A register helps you calculate and process a customer transaction.  Connected device, like an iPad or other tablet: A portable device can be a good alternative to a monitor. Tablets can be propped up with a stand, allowing your team to clock in and out.  Credit card reader: A card reader lets your customers securely pay by credit card while in- store, whether that's through a contactless payment like Apple Pay, a chip card, or a magstripe (magnetic stripe) card.  Cash drawer: Even if you accept contactless payments, you may still need a safe spot to keep your cash. POS software that's connected to a cash drawer can minimize fraud by tracking exactly when the drawer is opened.  Receipt printer: A paper receipt shows customers exactly when and what they purchased and how much they paid.  Bar code scanner: A bar code scanner reads an item's product details so you can ring it up. It can also be a quick way to double-check the price, stock level, and other details. TYPES OF POS SYSTEMS 1. Restaurant POS Systems Accepting cash and credit card payments is the key reason you need a point of sale for a restaurant. You need to be able to monitor all of your financial and tax details in addition to collecting payments. In order to track your transactions by date, time, and form, most restaurant POS solutions have reporting features built-in. But that's just the start of the awesomeness.  If you're a restaurateur and want to be competitive in the industry, a restaurant management system is recommended. A POS needs to be used for all kinds of restaurants, such as full-service restaurants, short-service restaurants, fast food, take-out only, cafes, pizza shops, etc.  Recipe pricing is an example of functionality that can be offered by a restaurant computer system. Restaurant marketing, customer management, online ordering, loyalty program, server sales efficiency, new versus repeat customers, invoice buying, menu performance, employee management, and sales reporting are several other features and services that you will potentially require.  The ability to submit orders directly to the kitchen is another big benefit of using restaurant management software, which is a significant advantage by increasing food preparation time, staff productivity, and reducing kitchen errors. 2. Bar & Nightclub POS Systems Pre-authorization of payments for tab management with bar and liquor inventory monitoring to secure income are the key features to look for in bar software. Speed functions such as reordering rounds, bar prep printing, easy checkout, and 24/7 support for quality are also equally critical. In the reporting side, relative to revenue, inventory reports, and both the sales and tax reports, you'll want to see the labor costs.  Employee management, inventory management, customer loyalty, recipes, tab management, rapid reorder rounds and fast customer checkout are the additional registry features to consider for nightclub and bar point of sale apps. Reporting is also important for keeping track of your taxes on food and beverages. Often, to see the labor costs and revenue statistics, you may want to have online access. 3. Retail POS Systems Systems for retail point of purchase (POP) are mostly for retail environments. So that means you will most likely never use a retail store's restaurant program and vice versa.  On the market, some applications or apps claim to be cross-platform, but that doesn't mean you can use them at all.  Retail companies can have some basic criteria and characteristics that other systems won't have. They may have retail shop features such as matrixing of color and scale, inventory monitoring, commissions of staff, register of gifts, customer database, layaway, and purchase orders. Here's a summary of the top features a retail POS should offer your company: Credit card processing Inventory tracking Multi-store scalability (if you have or plan on having multiple locations) Color and size matrixing Product variants Employee commissions Customer database  Gift registry and layaways Purchase orders Sales reporting Hardware integrations like barcode scanners and digital scales Software customization Software/hardware support Mobile and cloud-based technology 4. Small Business POS Systems A small business point of sale system could come in many shapes, sizes, and flavors. Search small business POS systems online, and you'll find yourself in the middle of a battle over the latest product of the week because they're hundreds, if not thousands. Most of the new small business technology is app based and on mobile platforms.  An iPad or tablet, for instance, is suitable for environments such as a small retail store, small restaurant, yogurt shop, boutique store, cafe, or coffee shop. Places where you need quality features and functions, but where it might not be enough to get the job done with a cash register. 5. Cloud and Mobile POS Systems A POS cloud-based framework is a point of sale platform that stores cloud data. Usually, cloud-based systems don't record much data on your terminal computer. Alternatively, all information is stored in the cloud and synchronized through different terminals.  An iPad or tablet, for instance, is suitable for environments such as a small retail store, small restaurant, yogurt shop, boutique store, cafe, or coffee shop. Places where you need quality features and functions, but where it might not be enough to get the job done with a cash register.  The terms cloud and mobile point of sale systems are sometimes used interchangeably. Cloud-based software is generally on a tablet POS that's used on premise.  mPOS is a subcategory of cloud-based POS and is usually an App on mobile devices like an iPad or Android tablet, and even on smartphones. Here are a few of the advantages of a cloud or mPOS system: Access from anywhere - All your data is stored on a server in "the cloud," which means you always have access to your data. Cost-effective - Cloud POS systems generally cost a monthly subscription fee without any contractual obligations - this can remove the entry point for a quality system without spending thousands of dollars upfront for software licensing.  Easy to use - Tablet and mobile POS are easier to use because the staff is already familiar with using mobile devices so that the learning curve can be shorter over the traditional point of sale machines and software. Software updates - Regular cloud updates can be pushed out to your App or online software, so you always have the latest and most secure version of the program. Also, most cloud companies offer updates at no additional charge as part of the service or support agreement.  Easy to use - Tablet and mobile POS are easier to use because the staff is already familiar with using mobile devices so that the learning curve can be shorter over the traditional point of sale machines and software. Software updates - Regular cloud updates can be pushed out to your App or online software, so you always have the latest and most secure version of the program. Also, most cloud companies offer updates at no additional charge as part of the service or support agreement.  Quality support - Most mPOS companies offer support as part of your SaaS (Software-as-a- Service) agreement. As long as you're a paying customer, customer service should be included. 24/7/365 software support is the norm in the tablet and mobile industry. Mobility - mPOS allows you to be "mobile" where you can accept orders and payments at a vendor show, or take orders on the floor of your restaurant or retail store. 6. Salon and Spa POS Systems Nail salons, hair salons, and spas all require a particular set of POS options due to the nature of the business. Options like the following are all vital to having: An online appointment calendar Appointment reminders,  Customer database with details for a previous haircut or nail styles Retail functionality, Inventory management, Online employee scheduling Employee management PROPERTY MANAGEMENT SYSTEMS  Applications for the running of accommodation businesses are property management systems (PMS). A unified computer system enables the day-to-day operations and transactions in hospitality accommodation and residential and commercial rental properties to be coordinated, planned and carried out. It helps property owners, managers, and real estate professionals monitor property ads, payment processing, maintenance of property, and more.  Most times, the terms are used interchangeably, but we agree that management systems for hotel property should be differentiated from other applications for property management. Both PMS systems, but of different kinds, help handle lodgings. For example, to administer schools, sports and athletic facilities, community gardens, and parks, even local councils may use PMS. PMS solutions for hotels cater primarily to hotel owners and operators, motels, hostels, resorts, and the like. Hotel PMS end-customers are also different from rental tenants and have different requirements that should be met by the app.  A hotel PMS has historically been regarded as a software that helps hotel companies to maximize their front-office capabilities by replacing time-consuming, paper and spreadsheet- heavy processes. These PMS solutions helped with tasks like reservations, guest check-in/check- out, room assignment, room rates management, and billing. A lot of hardware that was operated on-site was also needed.  What is the role of PMS systems nowadays in the hospitality industry? The focus remains the automation of traditional front-office and administrative activities. The essential modules of reservation, front-desk operations and housekeeping include all hotel PMS. In addition, modern hotel PMS solutions offer a variety of features that enable the delivery of perfectly tailored guest experiences. THE FEATURES OF HOTEL PMS SYSTEMS  In a single piece of software, a modern PMS incorporates several work environments. The combination of modules in a system and features inside a module can differ depending on the software provider. However, at a minimum, the following tasks should be handled by robust hotel operating software: Front-desk Operations This module allows guests to be checked in and out, key cards issued, room allocation monitored, room-related requests handled, payments processed and guest receipts issued, night and shift audits carried out, and more in one safe system.  Up-to-date information on both existing and future reservations can be obtained by front- office employees. The system should also make adjusting bookings, e.g., changing a room or date, reasonably simple. The changes should take place immediately and be mirrored by other modules. Reservations management For the website booking engine and other distribution networks, the reservation service containing all inventory information and dates should be incorporated. The existing and upcoming hotel management reservations are shown on easy and user-friendly dashboards. They can check the availability and status of rooms, keep track of bookings and visitors, and transfer them around as appropriate. The booking features should make it easy to handle room reservations, discounts, inventory and allocation of space, and accept online payments.  An easy and intuitive user interface enables travelers to quickly book rooms, obtain confirmation by email, securely pay for their space, and easily self-check-in. Reservations for large groups, gatherings, incentives, conferences, and exhibits, activity booking, and incorporating hotel amenity packages should be permitted by a good hotel PMS. Ideally, mobile bookings should also be sponsored.  A central reservation system or booking portal may be part of or may be introduced independently from, the hotel PMS. The PMS should be able to integrate with the current reservation system in the latter case. Sales & Catering System For contact management, contract creation, group room blocks and public space holdings, your group sales are likely to use some type of software. Convention services may use the same software to assist the setup team with the layout and equipment needs of the meeting room. When prospecting for new or repeat companies, the data being collected is a key source.  PMS, POS, spa and even call accounting systems will rely on most discussions about hotel revenue systems. These traditional systems are where most of sales transactions take place. It takes a substantial investment of time to configure these systems so that each transaction ends up on the correct revenue line of the financial statement.  In order to develop the terms of a contract for guestrooms, meeting space and banquet activities, sales managers use the application. The parties sign a legally enforceable contract after the terms have been agreed upon. The catering and conference services staff will collaborate with the meeting manager to review all the fine details of the event as the event gets closer. For each of these, this involves final menus, audiovisual needs, special considerations and costs.  Via an interface, room blocks and rates are transferred to the PMS. This, in essence, sets up the PMS to start accepting group block reservations. Negotiated improvements made in the sales and catering system to the company block would then update the same data in the PMS.  The PMS is the record system for nights and income consumed in the room. Most sales and catering systems have a two-way interface that allows information from the PMS to flow back from the actual reservations made and subsequent rooms occupied to update the overall results for that party.  What about all the other revenue associated with the group that we will generate? How do we ensure that all the information that have been settled upon are posted for payment to a master account?  The method of recording the information and creating a summarized banquet event order (BEO) and a printed banquet check has mastered most of the sales and catering systems available today. What happens next can differ according to property, but it is rarely an ideal solution. Guest Management and Guest Accounting To keep in touch with current and past guests during and after check-out, it is important for hoteliers to capture and organize guest data. The CRM module must be integrated with the front desk and reservation system, gathering from these sources all guest information. It helps to store guest data and offers a database in a format that is available. Also, before and after their stay, it contains guest contact information. However, the PMS can integrate with it if a hotel already has its own CRM system.  This module will also assist with the coordination of marketing and promotions, guest experience assessment, and pre-and post-stay services. The CRM module allows owners to tailor the experience of visitors with membership and loyalty programs that are particularly essential for hotel chains and resorts. Analytics and Reports They rely on analytics to monitor current processes and understand business results. A PMS can serve as a platform for business intelligence, gathering relevant data and delivering different kinds of automated reports to hoteliers. It can produce night audit reports, room and tax reports, change audit reports, departure/arrival reports, housekeeping reports, or other continuous reporting, depending on the program.  Let’s Review: Common types of POS hardware THANK YOU  Assignment: What is Point of Sale? What are the different types of POS? (At least 5)