What Is POS

Point-of-sale (EPOS systems)  have evolved from cash registers to modern hubs that manage sales, customer experience, promotional offers, and operational processes.

The Evolution of POS

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, Retail in 4 Dimensions, 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.

Modern POS: From Point of Sale to Point of Service

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, driving highly individualized interactions that consistently gratify customers in the moment.

For example, a point-of-service solution empowers retail associates to save sales—and even increase basket size—with real-time visibility into inventory as well as a customer's purchase and online browsing history. Hospitality associates can elevate the guest experience, from faster delivery of personalized orders to seamless application of loyalty programs and other targeted offers.

Done right, modern POS also drives down costs and improves margins, all without sacrificing service levels. For retailers, that means saving—and even increasing—in-store sales with empowered commerce capabilities that allow customers to buy, pick up, or return items via any channel. For the hospitality industry, modern POS maximizes both inventory and staff productivity. Both retail POS and restaurant POS systems provide advanced analytics that drive leaner operations, more profitable offers, and more effective promotions.

With an integrated, complete POS solution, you gain these capabilities and benefits:

Provide personalized guest experiences	Gratify customers in the moment Save retail sales with the power of endless-aisle shopping and the ability to source items from anywhere in the supply chain Personalize restaurant guest experiences to increase sales and encourage loyalty
Gain a 360-degree view of customers	Increase sales with targeted offers Grow total customer lifetime value Drive visits by rewarding customers with loyalty programs
Unite front- and back-end systems	Save sales by integrating POS systems with retail operational systems, from merchandising to supply chain Speed and automate orchestration of food and beverage orders Maximize inventory value and reduce waste
Perform analysis to create more profitable offerings and boost margins	Optimize supply chain logistics for better margins and more targeted customer preferences Leverage data to avoid food waste, overstaffing, and theft
Support mobile POS on all kinds of devices	Enable transactions via tablets, mobile devices, and self-service kiosks Speed transaction time Improve service levels and save sales
Prevent losses	Quickly identify suspicious trends, transactions, and other anomalies Respond instantly via automated alerts Collect court-admissible evidence
Secure customer data	Ensure Payment Card Industry Data Security Standard (PCI DSS) compliance Quickly identify stolen credit cards and other fraudulent credentials
Empower agents with a modern user experience (UX)	Reduce associate ramp-up time and errors Speed transaction time Attract and retain associates with the kind of highly intuitive UX they have come to expect
Leverage the cloud	Speed deployment and time to value Quickly and cost-effectively extend the scope and value of your POS system Dramatically simplify implementation, monitoring, patching, and upgrades