The point of sale (POS) or point of purchase (POP) is the place and time where a retail transaction occurs. 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 primary and compelling reasons is that a POS system does away with the need for price tags. Some point of sale vendors refers to their POS system as a retail management system, which is a more appropriate term given that this software is no longer just about processing sales. Besides inventory management, there are other features such as a membership system, suppliers' records, bookkeeping, commission calculations, quotations, stock transfers, barcode label creation, sales reports, and sometimes remotely linked outlets.
By processing transactions faster, you'll have happier customers and generate more revenue for your business. iPad-based systems fall short since they are dependent on fast and stable internet connections, which can be unreliable at times.