What is POS? If you don’t know what it is yet—it is highly advisable to dig deeper into what it is.
POS (otherwise known as Point-of-Sale), is that exact point when your customers are willing to pay for their purchases. Of course, this means that it is also that exact moment when you are about to make a sale.
Obviously, the point of sale is important to business people like us. After all, when you make a sale, you make profits, right?
However, fact of the matter is: If you don’t have the right POS system in place, there’s still a chance that the sale you’re aspiring for may become just that: an aspiration.
Yes—whether you like it or not, you need to take care of your POS. Otherwise, the sale won’t push through, and you’ll end up frustrated (and probably losing money at the same time).
A modern POS system typically includes:
- The ability to accept all types of payment, including credit cards, cash, and checks
- Inventory control
- Employee time management
- Advanced data analytics
- Cash register
- Cash drawer
- Receipt printer
- Barcode scanner
So, how do we take care of our point of sale? What specific steps do we need to take?
First and foremost, you need to know the risks.
Today, various risks abound in the business world. And these do not just involve theft and robbery.
Considering how evolved the business landscape has become today, our transactions are now open to more dangers.
And take note: These risks can be quite dangerous to your business if you don’t use the proper security and protection.
Here’s one example you might want to take note of: Credit card fraud.
Credit cards are very useful. They are convenient, they are easy to use—and a lot of people like to use them to buy things. Obviously, if you own a business, these cards can help you a lot—A. Lot.
However, did you know that credit card fraud is among the most potentially dangerous risks that businesses today are facing?
Yes—in fact, according to studies, billions of dollars are lost annually because of this problem. And if we don’t do anything concrete about it—billions more will be lost.
If credit card fraud is a big problem, then how can a POS system help prevent it?
Think about it: What is POS? Basically, it’s about sales, right?
Now, what is a POS system? Well, it’s actually a system to ensure that your transactions will be accurate, safe and recorded properly.
Here’s a scenario: Your buyer wants to buy something from you. He goes to the register, picks up his credit card and uses that to pay.
But here’s the problem: What if the credit card used is actually counterfeit or stolen? How will you know if you should be accepting it or not? In other words: How do you know if a credit card is being used the way it should be—and by someone actually authorized to use it?
This is where a POS system comes into play (and the reason why businesses need it).
Having the right Point of Sale system and tools can help make your business run a lot smoother, which leads to more efficient operations.
POS systems are not just for ensuring the safety of payment transactions. With the right choice, they can actually add more to the equation.
Are you still manually counting your inventory? If so, then you obviously need to change that set up (we are in the digital age after all).
You can actually opt for POS systems with inventory control—which, as the combination implies, actually brings you the best of both worlds: Secured payments plus more accurate (and updated) inventories.
With this system, you get to help avoid credit card fraud (and all related risks), and you get to ensure that your business stays afloat. A big win for your business, if I say so myself.
Here’s a question: Where do I find the right POS software or system?
Incidentally, there’s quite a few systems and tools available out there today. Admittedly, trying to understand each and every one of them can be complicated—and more often than not, headache-inducing.
Fortunately, RedFynn can help you out.
We know business.
We know what you need—depending on the type of business you have.
And more importantly, we know how to make your POS safe and secured.
We have studied all the small details and intricacies of this system—and we are more than willing to help you pick the right one that will work best according to the size of your operations, your business model, and other details.
Still, can’t figure out what is POS and the right system to use? Don’t worry—we’ll teach you at no obligation.
Call (888) 510-9871 now. We specialize in all things related to business intelligence and, pretty much, making your business dreams come true. This includes making more money through things like gift cards and loyalty programs, and saving money through what we think are the best merchant services around (that’s why we have a Lifetime Guarantee).
Anything you need, we’re here to help.