283 week ago — 1 min read
Definition: A point of sale (POS), or point of purchase (POP), is the place where a retail transaction is executed. At the POS, a merchant calculates the amount owed by the customer for the products or services rendered. With the advancements in technology and information sophistication, many POS solutions serve as retail management systems that handle everything from sales and inventory, to customer management, and also e-commerce.
Example: Realising the need for a centralised and an efficient POS management, a restaurant chain opted for a cloud-based POS where the data was been updated real time with transactions happening at its multiple locations.
Business Insight: With all the emerging technologies in mobile, POS on mobile or mPOS is gaining massive popularity. Recent studies show that 48% of retailers prefer using an mPOS over the traditional POS systems.
Posted by
GlobalLinker StaffWe are a team of experienced industry professionals committed to sharing our knowledge and skills with small & medium enterprises.
Business Website Launch Kit: A Special Offer to Grow Your Business
10 Apr 2024, 13:45
India's Top 10 Most Exported Sports Goods
9 week ago
Most read this week
Trending
Comments (5)
Please login or Register to join the discussion