What are POS systems?
A POS (point of sale) system is a tool or combination of tools that allows customer transactions to be processed. In a wide range of sectors — for example, physical and online retail, hospitality and leisure, transport, fulfillment, and healthcare — POS systems are key to delivering the rapid, always-on, and joined-up experience customers increasingly demand.
With a networked, cloud-based POS system, you have real-time access to all sales data, helping you keep track of demand, avoid inventory stockouts, and optimize your pricing. Increasingly, AI technology is also helping to shape the future of the POS system, with features such as chatbots and predictive analytics opening up new possibilities for self-service and personalized service offerings.
A fit-for-purpose POS system should enable easy payment using whatever method your customer uses, whether card, phone, wearables, or even NFC or biometrics. Multichannel integration is also increasingly important. If a customer has obtained a voucher via social media, they should be able to redeem it in your physical store without issue.