Point of sale system is a point where all of your retail operations can be concluded, a point where finally payment is taken from the client for his selected goods/services. It is a culmination of both hardware as well as software. A customer take away his selected items and pay to the retailer. This transaction pattern gets modified every time with time.
Point of sale software is evolving at an enormous rate. The updates in POS software are due to rapid change in purchasing patterns of the customers. Buying trends are evolving with the advent of technology and retailers have to cope up with that. Having a POS software, equipped with all latest updates is a boon for any business. Due to this rapid change retailors are looking at some cheaper and reliable softwares applications for their transactions. These softwares also interact with other functionalities like inventory management for the stocks.
Broadly we can classify these software into two segments.
On-Premise: A software deployed exclusively for a particular store or shop. This software is an integral part of a particular store but don’t interact with transactions and dealings outside a particular shop. It is an ideal selection for a small business, operating in a single shop.
Cloud based: Such softwares are ideal for the chain of stores or any business operating in multiple locations. Secondly it is also a smart choice for the owners who want to use the software anywhere and anytime. It is a flexible system, much more robust and flexible.