Using cloud based Point of Sale

Point of sale generally refers to the place where physical cash transfer takes place and money changes hands in return of goods and services. It is the place where transaction occurs in exchange of goods n services. Often point of sale is the physical cash registers and dedicated point of sale hardware used for checkout but it is actually the place where the sale is conducted and transaction is completed and a receipt is given as a proof of the completed transaction. Modern day point of sale need not be a physical location but can be a virtual market using internet. Smart phones, tablets, laptops and desktops are the modern age point of sales. Earlier financials, inventories, analysis, research and warehousing were considered to be different verticals and were done independently and manually but with the advent of all built in point of sale software, these verticals are connected to each other and are performed simultaneously and that too with very less manual intervention.

With cloud based computing, point of sale system are deployed as software as a service, which is accessed directly from the internet using any internet browser wherever there is internet connection available. Cloud based point of sale systems are much different from traditional POS software. Cloud based point of sale systems are independent of the operating system and platform limitations. Cloud based POS has helped POS’s to be expanded to mobile devices as well. The advantages of cloud based POS systems are centralisation of data and the ability to access the data from anywhere wherever there is internet connection. It has lower costs as well. Cloud based POS systems are made compatible with wide range of POS hardware. The user data including sales and inventories are not locally stored but stored in remote servers and as the POS system does not run locally there is no need for installation.

Cloud based POS systems are used as checkout systems. To be used as a checkout system the POS system needs certain checkout hardware. These include credit card reader, receipt printer, barcode scanner, cash drawer and PIN pad. POS system involves its own expenses as well so it is recommended to invest in POS system only if the annual revenue is more than the threshold. Cloud based POS system when used as checkout system, if reduces the time and money consumption as any sorts of payments are made using the phone only and there is no need to be physically present while buying the item. It reduces fraud and cheating as well.