The Point Of Sale system is composed of the POS software, POS hardware, and payment processing for it to operate efficiently and effectively. Point Of Sale requirements vary greatly among businesses depending on company size, industry type, and other factors.
POS software serves as your Point Of Sale’s virtual brain needed for the POS system to function. The POS software provides the language that links together the various POS hardware parts. It dwells in the POS system’s main processing hub unlike the POS hardware. The POS software is also critical for workflow automations, customization of features, and third-party apps integrations.
Meanwhile, POS hardware refers to the separate, physical parts that the POS software holds all together. Common POS hardware machines include receipt printers, card terminals, touchscreen monitors, and of course, cash register. For small businesses, a POS system that is tablet-based may suffice. For bigger stores, more complex POS machine parts may be added like pole displays and POS scales.
Lastly, your POS system won’t be complete without payment processing. A POS system that allows access to different credit card processors could work best. This permits comparison of fees, rates, and other payment terms so you can select the best third-party processor deal.