It doesn’t matter what kind of retail business you run, every fashion, footwear, jewellery, accessories, sportswear or department store needs a way to process transactions. However, if you’re wondering what type of transaction method is right for you, we’re here to provide some insight into the differences between a retail POS system or a cash register.
Eurostop has helped many clients implement the most efficient transaction systems for them, so here are some tips for choosing between a cash register and a POS system.
What Exactly is a Cash Register?
Before diving into the details, it’s important to have a clear idea of each type of transaction method. Cash registers are used to ring up sales and often have a money drawer, and the capability to indicate the amount of each transaction and collect that data. More complex ones can also create financial records, add taxes, offer receipts, and more. They’re the cheapest transaction equipment, but for those who want functions like scanners and card readers, they’ll often have to pay extra.
What is a POS System?
POS systems offer many complex options, in addition to being able to do everything a cash register can. This type of system provides detailed transaction reporting and often has a touchscreen for easy use. Often, POS systems are composed of several components, including card readers,barcode scanners and a cash drawer. Although POS systems have been in use for decades, they’ve become the standard for retail establishments because they enable users to perform a wide range of functions, everything from tracking sales and customer information to stock control services.
Additionally, many POS systems also make it possible to:
- Develop customer loyalty programs.
- Implement gift cards.
- Personalise service.
- Perform automated services.
- Collect data for business centralised insights and reporting.
- Implement marketing strategies.
- & More.
Key Differences Between Cash Registers & POS Systems
To choose the right solution for your retail establishment, you’ll need to take your needs and expectations into account. However, understanding the key differences between cash registers and POS systems is important. Some of the most notable ones include functionality, accuracy, , ease of use, reporting and integrations. In most cases, the return on investment will be invaluable. POS systems will provide more flexibility and functionality, as well as being easier to integrate with other retail channels. If change and migration is a worry, then make sure you select a reliable vendor will also be able to provide support and consultancy in your transition, which means that you can experience the benefits as quickly as possible and get the most out of the system.
Contact Eurostop today for more about retail POS systems!
For more information about choosing the best POS system for your needs, contact us online or call +44 (0) 20 8991-2700.