The point of sale (POS) or point of purchase (POP) is the time and place where a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment.
Businesses are increasingly adopting POS systems, and one of the most obvious and compelling reasons is that a POS system does away with the need for price tags. Some point of sale vendors refer to their POS system as "retail management system" which is actually a more appropriate term given that this software is no longer just about processing sales but comes with many other capabilities such as inventory management, membership system, supplier record, bookkeeping, issuing of purchase orders, quotations and stock transfers, hide bar code label creation, sale reporting and in some cases remote outlets networking or linkage, to name some major ones.
The quicker you’re able to process a transaction; you’ll have happier customers and generate more revenue for the business. Most iPad-based systems fall short for bars in this regard because they rely solely on a fast and stable internet connection and internet speed can be unreliable or go down sometimes.