How Many Types of Retail POS Software Are There?

Retail POS software is used by E-Commerce and brick and mortar stores for processing sales transactions. The device has the functionalities of both a PC and a cash register. With POS software, sellers can input orders, register the cost and receive customer payments.

What is POS software? POS means "Point Of Sale" and POS software is used in the brick and mortar stores and E-Commerce stores use to conduct sales. It is the advanced cash register combined with a PC where cashiers input the ordered products, count the cost and consummate the financial transaction. 

                           

It can integrate with other systems and software like accounting apps or E-Commerce platforms, or connect with systems and databases to grow your business' operational flexibility and capability.

The meaning of POS software revolves around its primary reason is to process sales. However, retail POS software does so much more than that. Full-featured POS systems can manage with inventory tracking, analytics, sales tracking and reporting, customer data management, staff management and robust integrations. 

POS software also comes in a range of options from simple to complex cloud systems to meet the needs of different organizations regardless of type and size.

The three basic classifications of POS software include:

Mobile POS: It is used to manage and process payment but can also have different functions like inventory tracking. It is perfect for sole entrepreneurs and SME’s due to its simple set up, function and affordability.

                          

Terminal POS: It is a combination of software and hardware based system that can carry add-on devices, for example, barcode scanners and cash drawers. It is the most commonly used system by businesses due to advanced functionality and reasonable cost.

Cloud-Hosted POS: It is an online or web based system you can use with your existing hardware (for example, PC, tablet, and printer). It is best suited for businesses of any size particularly startup companies due to the systems affordability, scalability and comfort.