Point of sale holds a significance in any business. It is that point where the exchange of goods and services with money takes place. Point of sale systems involve the role of the merchant and the customer.
The merchant presents the customer with product information, bill estimate and printed invoice. While the customer decides the mode of payment and pays off the bill. If you also own a business and find it challenging to manage the counter, POS system development can solve your problem.
POS is an upgrade over the obsolete electronic cash register. However, the POS system can work beyond creating bills. Read this article to know about the features of a point of sale system and the cost incurred in its development.
Essential Features Of Point Of Sale Systems
In order to make the POS system development effective, consider involving the features that are mentioned below in your tool. These features will enhance the workability and hence promote easy navigation throughout the tool.
Invoice generation: Generating invoice is one of the basic functions of a POS system. The point of sale mechanism should be able to scan the imprinted bar codes and hence interpret the MRP of the product based on that.
Also, the invoice printed should boast complete information of the product, the price of buying include discount if any, customers name and basic details along with the cashier name.
Product search: There are instances that we come across when the scanner fails to detect the product details using its barcode. The POS system should possess alternatives in these situations. The staff at the counter should be able to manually search about the product with its name, product code, category etc.
Inventory management: Keeping track of the inventory is an essential feature of point of sale systems. The tool should be able to auto-update the inventory after every sale for an enhanced tracking mechanism.
Sales report: It is important for the tool to provide you with a detailed sales report at the end of the day, including a per-product sales report. Obtaining sales reports will also help you monitor the best selling products and the products that are no longer a part of customers attraction.
Customer relationship management: It is important for the POS development company to maintain a balance between customer-centric and business-centric approach. In the advent of first shopping, the tool should be able to save customers basic information like name, contact number, address and birthdays etc. It should help you in sending occasional greetings to the customers that eventually help in maintaining better customer relations.
Customer points and rewards: The point of sale system should be able to store customers shopping details and convert the bill into loyalty points to enhance customer engagement. Awarding the customer every time the customer’s shop will motivate them to shop from your store.
Multi payment options: POS development should be carried out by keeping in mind maximal customer engagement. Customers must have the flexibility to choose between the preferred payment method such as credit/debit card, payment gateways or cash.
Customer-facing display: Transparency is something that contributes to building a brand’s reliability. The display of the POS system must be customer-facing so that every single detail about the products, including its price, can be accounted for at the time of billing.
A feature-rich tool will help you to raise the potential of your business, contributing to increased revenue. The expertise of the POS development company plays an important role in crafting a hassle-free tool; hence it is advised to have a selective approach while approaching the app development company.
Cost of POS development
Knowing the actual cost of point of sale system development requires detailed information about the business requirement. However, an average figure can be estimated by considering some basic factors that include the time frame of the development, developers brand value, the expertise of the development company, their location, features of the point of sale system etc.
POS system development can cost you a price anywhere between 1500 U.S. dollars to 5000 U.S dollars. However, as mentioned earlier, the price cap mentioned is just an approximate, and you can get a detailed estimate after getting counselled by the software developer.
Final words
Every other business these days is using an advanced mechanism to run the administration smoothly. Software solutions aim to automate the monitoring part associated with a business that ultimately increases the efficiency of the workforce.
Point of sale system is one such mechanism. It automates several processes associated with running a business such as an invoice generation, inventory management and customer relation.
POS development companies will help provide optimized tools for your business that will aid in effective monitoring of your inventory, sales report and maintain customer relationships.
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