All small businesses and large retailers have at least one common need—to sell their goods and services to as many new clients as possible. In order to do that, they use a sale system that is often called a cash register. This cash register, or POS system, is made up of different devices that are essential in the process of making a sale, managing the profits, and preventing inventory loss of the retail store. Continue reading for the ultimate guide on how to build your own POS system.

What is a POS system?

 

 

A POS system is a modern cash register that enhances the customer experience and expedites the checkout process at the cashier’s terminal or self-service kiosk. It’s a sale system that’s used in most retail businesses to process payment methods and keep track of sales metrics, as well as develop a better stock management system and control customer data. A modern POS system such as Retail Plus can ease your entire business’ scalability as well as boost your employee performance.

Benefits of a POS System

Whether you own a supermarket, a chain of fast-food restaurants, an e-commerce outlet on Shopify, or a fleet of food trucks, you can benefit from the many advantages of modern POS solutions. For example, you can:

  • Implement various payment methods for diversified customer service.
  • Have an advanced inventory management system.
  • Generate and print invoices and receipts.
  • Make lightspeed cash transactions.
  • Increase customer satisfaction.
  • Improve your employee performance and manage their payroll.
  • Provide customizable loyalty programs to your clients.
  • Generate advanced sales reports as well as employee reports.
  • Synchronize your online sales with your on-premise sales.

Main Functions of a POS Solution

A point of sale system will play a key role in your retail business’ success. As a business owner, you may be wondering what things advanced POS systems can do for you and your business. The most important thing it can do for you is process transactions with the ease of use as a comprehensive payment processor. Additionally, it can easily scan barcodes and apply event sales and promotions.

Moreover, it can manage your customer loyalty programs so you can provide an enhanced shopping experience to your loyal customers. It can also allow your buyers to pay with various payment methods like Google Pay and Apple Pay, as well as handle returns, void transactions, taxes, payment plans, and other transaction fees in a single POS terminal. Your employees can have their own login credentials and permissions to their accounts so that they can handle different roles in retail.

Key POS Hardware Components

As a merchant, you’ll need to make sales with minimum technical issues. For this, a POS solution needs to integrate a set of important technology to expedite the sales management processes. A POS setup will include the following items in a site terminal:

  • Automatic cash drawer
  • Touch-screen monitor
  • Barcode scanner
  • Receipt printer
  • Customer-facing display
  • Debit and credit card reader

In addition to these items, your retail business’ workflow can benefit from other different devices such as:

  • Gift card reader
  • Portable stock counter
  • Digital scales
  • Barcode printer

Different Features of a POS Software

Your POS system will need several sale software features that allow you and your employees to offer comprehensive retail operations in harmony with your POS hardware. These POS software characteristics include the following:

  • Read scanned barcode information
  • Process payments, different currencies, and coupons
  • Inventory management tools
  • Add images to stock items
  • Manage promotions
  • Maintain loyalty programs and automatic updates to loyalty points
  • Generate sales reports and sales metrics and analytics
  • Create employee reports for email marketing
  • Edit employee accounts and user accounts
  • Control customer data through a CRM system
  • Access customer purchase history
  • Integrate with other software solutions like QuickBooks and MS Excel
  • Manage your online sales
  • Provide ease of use

How to build a POS system.

 

 

If you’d like a DIY POS system or want to improve your existing system, here’s what you’ll need to do:

  1. Refine your business needs: Every retail business has unique business needs and floor plans. In order to implement a successful sale solution that best fits your retail organization, you need to know what these business needs are. You need to find the best ways and a number of reasons to make your shop thrive and make the right choice when building your own POS system.
  2. Purchase a POS software solution: Next, you’ll need a custom POS software solution like Retail Plus that can encompass everything your unique business needs in a new system. Retail Plus offers a free trial version for small retail stores and low monthly fees for larger ones. It’s a good idea to have a solid Internet connection to download the POS software and make timely updates for new features in the long run. Retail Plus offers you a full custom solution that surpasses traditional POS systems. It includes customer history search, reasonable pricing, payment plans, CRM integrations, birthday rewards, as well as inventory data and product data import and export. We will provide you professional assistance on how to program a POS system in much detail.
  3. Invest in POS hardware: To have a sales management system at your fingertips, you’ll need to invest in a hardware setup that perfectly fits your physical store, growing tendency, and high demand. You can buy these from wholesale suppliers, any POS vendor, or hardware providers. Large retailers can benefit from handheld devices that complement a desktop solution to allow your staff members to provide professional assistance to your customers around the store—mobile devices like tablets can be used anywhere in the store to process card payments and check the stock levels of any given item.
  4. Import your inventory and customer data: Next, you’ll need to import relevant information on your stock items as well as your repeat customers’ data onto your local server. Having all the little details of individual products in your on-premise POS systems will help you make forecasts and any demand solution to ensure your retail store is always stocked.
  5. Create employee credentials and permissions: Additionally, you’ll need to create profiles for your employees as well as an admin profile for you as a business owner or your retail store managers so you can all access any ordinary feature of a retail administrator such as voiding credit card transactions or accessing valuable information in your POS interface. Also, your staff members will most likely need different access points in different stores.
  6. Provide your staff with training on the new point of sale system: Lastly, you’re going to want to train your staff members in different ways so they can understand the new POS system, the new features, incentives, touch-screen POS monitors, and how to access different products. Be sure to answer any key questions regarding the sell screen or other peripherals of your POS’ particular model or mobile POS system. You can even create a manual for ongoing support on how to process transactions and a full methodology for adding new customers to the rewards program, for example.