Odoo POS is an app having integration with stock, accounting and other apps of Odoo. All transactions from POS directly affects your stock, without any extra efforts to manage it. When you open a store with Odoo POS, your products, orders, and customers, barcodes and discounts are instantly synced with your point of sale, so you never have to worry about updating two sets of inventory. You can identify your customers directly from the POS and also can create invoices with an ease and accuracy, allowing you synchronizing your accounting data seamlessly with great customer experience.As we all know, a POS is a combination of software and hardware that allows merchants to take transactions and simplify key day-to-day business operations.

Software and Hardware Components of POS Systems

As we look at the components of POS systems, it’s first important to understand the software options available and what each requires.

Software Components

There are two common software deployment methods:

 

On-premise: A traditional software model. Purchase one or more licenses upfront for the software and install it on your computer system or servers. You’re in charge of updating and maintaining the software, which may require dedicated IT personnel for larger organizations.

 

Cloud-based: Also known as Software-as-a-Service (SaaS) POS solutions. You access and support the system via the internet. Don’t worry—if your internet goes down, most systems track sales and sync them once you’re back online.

 

Hardware Components

Regardless of your chosen software deployment method, the hardware is the same. Following hardware components are crucial for supporting POS software:

Crucial POS Hardware

Register screen

Standard monitor that displays the product database. Enables other functions, such as employee clock-in and viewing sales reports. Tablets—especially iPads—are popular for replacing bulkier monitors.

Barcode scanner

Automates the checkout process. Scanning barcodes pulls product info and adds it to the checkout total. Barcodes, when scanned, may also integrate with inventory management systems to automatically adjust stock levels.

Credit card reader

Secure and EMV-compliant credit card readers are extremely important for retailers and non-compliant retailers face potentially huge losses on account of fraud liability.

Receipt printer

Email and text receipts are gaining popularity, but paper receipts are still important for providing customers with a quick snapshot of their purchase. You can print employee sales totals, hours and other information.

Cash drawer

It may fade away in the years to come, but cash is still king. And as long as it is, you need a secure place to store cash for transactions. Additionally, there are no credit card fees tied to accepting cash.


 

Benefits of POS Systems

Electronic POS software systems streamline retail operations by automating the transaction process and tracking important sales data. Basic systems include an electronic cash register and software to coordinate data collected from daily purchases. Retailers can increase functionality by installing a network of data-capture devices, including card readers and barcode scanners.

Depending on the software features, retailers can track pricing accuracy, inventory changes, gross revenue and sales patterns. Using integrated technology to track data helps retailers catch discrepancies in pricing or cash flow that could lead to profit loss or interrupt sales. POS systems that monitor inventory and buying trends can help retailers avoid customer service issues, such as out-of-stock sales, and tailor purchasing and marketing to consumer behavior.


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