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Posted by Neeraj Purbia February 27, 2018, 1:31 pm
Point-of-sale (POS) systems have evolved from cash registers to modern hubs that manage sales, customer experience, promotional offers, and operational processes.
POS once referred only to the site—typically, a counter with a cash register where customers handed over cash for goods and services. Payment is still at the heart of any POS system, whether it's online, at a self-service kiosk, via an agent's handheld device, or at a traditional register. But since the old-fashioned cash register first paired up with computers in the 1970s, POS has transformed into a powerful hub for financial, sales, promotional, and operational processes.
As technology has advanced, so have POS systems, with the introduction of bar codes in the 1970s, graphical interfaces in the 1980s, and online ordering in the 1990s.
In the 21st century, the rate of change has accelerated further. Mobile technology has untethered the payment process from the traditional register, turning the entire store into a POS via tablets and other devices. Recent research shows 60 percent of consumers surveyed want mobile payment options in-store. And cloud technology has paved the way for truly modern POS, enabling the rapid integration of critical systems to optimize customer experiences while simultaneously driving higher margins.
In the current decade, POS solutions have evolved to keep pace with today's increasingly demanding and well-informed consumers. If they are unsatisfied with the choices or service levels you offer, they can, with mobile devices in hand, instantly access a limitless set of alternatives. As a result of such extreme competitive pressures, modern POS has evolved far beyond a payment and accounting system to become not just point of sale, but also point of service