Point of sale (POS) systems are computerized systems – including hardware as well as software programs – for making, processing, and recording sales. They are generally used in places such as retail shops, grocery stores, hotels, restaurants, casinos, and stadiums.
POS systems are more than just a cash register. Old-fashioned cash registers act essentially as “cash safes” used to keep paper transactions safe. With the advent of computerization and the necessity for credit card processing capabilities, POS systems have become the best way to record and manage cash, check, and credit card sales.
60% of retailers have POS systems that are at least 5 years old; of those, 35% of those have systems older than 10 years; that according to Aberdeen Group, February 2008. Those retailers are losing out on the many new functions available with computerized POS systems, including new software integration capabilities and the management of both online and on-site sales.