January 20, 2023
The Evolution of Point of Sale Systems
A point of sale (POS) system is a vital component of any retail or hospitality business. It serves as the central hub for managing transactions, tracking inventory, and gathering customer data. Over the years, POS systems have undergone significant evolution, evolving from simple cash registers to complex, all-in-one terminals. Since New Mexico POS’ starting year, 1991, we’ve been apart of said evolution at the forefront, providing New Mexico and surrounding areas the necessary tools for businesses to elevate customer and staff experience.
Early POS systems were nothing more than mechanical cash registers, which were invented in the late 19th century. These early registers were used to record the price of each item purchased, as well as the total cost of the transaction to be consolidated at the end of a cashier’s shift. As the use of credit and debit cards became more widespread, electronic cash registers were developed that could process card transactions and handle higher business demands at the same time.
With the rise of computers, POS systems began to incorporate more advanced features. Some systems allowed retailers to track inventory, process returns and exchanges, and generate reports. Others offered customer relationship management (CRM) tools, such as loyalty programs and email marketing.
Today’s POS systems, such as Focus POS and GoTab, are highly sophisticated and can do much more than just process transactions. New Mexico POS offers all-in-one POS terminals offer a range of features, including:
- Inventory management: POS systems can track inventory levels, alerting retailers when it’s time to restock.
- Online Ordering: A seamless integration to a store’s POS system, where customers can input orders and pay their check online.
- Customer management: POS systems can store customer data, including contact information and purchase history, making it easier to build relationships and target marketing efforts.
- Marketing and loyalty programs: POS systems can help retailers create and manage loyalty programs, as well as send targeted marketing messages to customers based on their purchase history.
- Employee management: POS systems can track employee hours and sales, as well as manage schedules and payroll.
- Analytics and reporting: POS systems can generate a variety of reports, including sales data, inventory levels, and customer demographics, helping retailers make informed business decisions.
As technology continues to advance, it’s likely that POS systems will become even more sophisticated and feature-rich. Some experts predict that in the future, POS systems will be fully integrated with artificial intelligence, allowing retailers to gain even deeper insights into their operations and customers. Others suggesting Point of Sale will be operating without staff or minimum staff, having customers input their orders via phone/kiosk systems.
The evolution of POS systems has greatly benefited retailers and hospitality businesses, providing them with the tools they need to run their operations more efficiently and effectively. As the technology continues to evolve, it will be interesting to see how POS systems continue to shape the retail and hospitality industries. For the latest technology available today, contact New Mexico POS for the easiest and most profitable solutions.
New Mexico POS Contact Information
Office: (505) 293-7511
OR
Sign up for Emails and we’ll contact you!
August 29, 2016
Consumer vs. Commercial Products in POS
In the world of Point of Sale, products are often misrepresented and the end user experiences difficulties in everyday operation. Defined by whether the purchaser is buying for a business or for individual use; many variables in quality, durability, and performance is effected. Although some companies present their products as a cheap alternative to a fully loaded Point of Sale system, in time the initial investment will deteriorate rapidly; causing grief, aggravation, and high maintenance expense compared to a system engineered to have a full life span, commercial grade software and hardware, and retail hardened durability.
A mid-range tablet with an enticing price tag may be perfectly suitable for home and personal use but will probably fail eventually if not immediately as a Point of Sale terminal replacement or restaurant line buster. Because of the constant demand of resources, the tablet’s enticing price comes with the set back of low-tier consumer grade hardware and/or software. While being compared to a tablet designed for a commercial setting, you will see a higher price tag but for a very good reason. A commercial grade tablet will have upgrades, not found in a consumer based world, specifically built for keeping up and not letting down a busy store.
Another con of buying consumer grade products in an commercial environment is the risk of the product being damaged or broken. Though manufactures have made progress towards having devices not break, bend, or shatter, this does not apply in a commercial setting. A small purchase towards a consumer grade product may end up being a much larger investment due to the product being bought several times over. Once again, a commercial grade product has been designed specifically to not be damaged when used by an entire staff. Most products come with features such as anti-shock mounted hard drives, protective cases or bezels to withstand even the most extreme conditions, and commercial grade hardware to keep up with even the most demanding stores.
When purchasing a device for your business, one of the most important aspects to remember is the hardware. Consumer grade computers for example may look tiny compared to a computer engineered for a business. This is mostly because of the individual parts that are different between the two devices. If we look at a processor for example, the processor found in a Wal-Mart bought computer will never be enough to power several point of sale work stations in a restaurant compared to a specific designed processor to serve as a central hub in a business.
If there are any questions or concerns whether you’re making a good purchase for your business, contact New Mexico POS! We will be more than happy to help you engineer a system with a long and high performance life span for your business!
DV
Modern businesses today have the added advantage of being able to incorporate POS systems into their daily operation. Unavailable to businesses several decades ago, today’s modern point-of-sale systems are highly efficient, organized and incredibly functional. From retail outlets to restaurants and hospitality industry businesses, POS makes organization and accountability easy, convenient and affordable. Many businesses are finding that they cannot conduct business in an efficient manner without the added benefit of modern point-of-sale systems.
Price Reductions Can Cause A Considerable Amount Of Confusion
One clear advantage of choosing a modern and technologically advanced point-of-sale system is that it makes the markdown of products easier and more organized. As many small business owners and medium-sized business owners know, price reductions can cause a considerable amount of confusion and strife within a company. Point-of-sale systems serve to eliminate this problem making markdowns and price reductions more organized and easy to accommodate. A POS eliminates the need to struggle with paper receipts as a result of discounts or price reductions.
Pricing Models To Consider The Various Types Of Price Reductions
In short, a point-of-sale system is highly efficient at tracking price reductions and in fact automates the process for employees and managers. Accurate tracking of price reductions, discounts, coupons and price reductions is easier today than it has ever been in the past thanks to modern POS systems. In addition, these modern and advanced systems can use a variety of pricing models to consider the various types of price reductions in an analytical and statistical way. The good news for businesses is that markdown management has never been easier and more organized than what is possible with today’s modern point-of-sale software.
The Opportunity To Enjoy Better And More Accurate Sales Tracking
Most notable of all is the fact that a modern point-of-sale system maintains incredibly accurate records of each and every sale without exception. This affords businesses the opportunity to enjoy better and more accurate sales tracking. From detecting shrink to managing inventory in an organized and detailed manner, POS systems automate virtually any type of retail business, hospitality industry business or restaurant. Applications for other types of business are available to those wishing to enjoy the benefits of point-of-sale. Contact New Mexico POS to learn more about Uniwell Cash Registers, Datasym Terminals and Focus POS systems today.
February 1, 2016
The Advantages Of Choosing A Point-Of-Sale System
Many experienced retailers know the importance of maintaining an accurate account of inventory. While older cash registers offer an effective way of managing money, they fall short in terms of tracking inventory in an accurate and detailed manner. A point-of-sale system offers many advantages for retailers that go far beyond anything that a cash register could ever offer. In short, a point-of-sale system solves a variety of record-keeping and organizational problems.
Automated And Electronically Organized
For example, a point-of-sale system allows a business owner to make far better use of existing personnel and employees. Because a point-of-sale system is highly automated and electronically organized it frees up personnel and employees to focus on other more important issues such as customer service. When employees are not ordering products, counting inventory or calculating sales they can simply devote more time to what is most important – quality customer service. It is a proven fact that when customer service improves profitability typically follows.
Add On Modules As Required
Another key advantage of choosing a point-of-sale system is that it typically offers a comprehensive solution for business owners. This simply means that buying a wide variety of different types of software in piecemeal fashion is simply not necessary. Many types of modern point-of-sale systems offer inclusive packages that solve a wide range of problems in a simple and convenient way. Even more impressive is the fact that today’s modern digital point-of-sale systems have provisions for including add on modules as required. This further simplifies the day-to-day operation of a business making for a more efficient environment for business owners and employees alike.
Overall Better Customer Or Client Experience
Finally, a POS simply equates to more consistency for businesses with multiple locations. Price consistency is perhaps one of the most important aspects of ensuring that customers have confidence in a business. From helping to maintain better stock of items to overall total inventory control, a POS is a smart investment for any business large or small. In the simplest of terms, a point-of-sale system provides for an overall better customer or client experience. Getting the most out of any point-of-sale system simply means working with the right team of professionals that have years of experience working with these highly dedicated and innovative systems. Contact New Mexico POS today to learn more about point-of-sale systems for New Mexican business owners.