Bhandari, CEO, ePaisa
Point of Sale system is a solution used by businesses to ring up sales, quick
billing, manage inventory, digital payments, and much more. The businesses that
tend to use Point of Sale solution are from various sectors such as SMEs,
have witnessed an increasing demand for point of sale terminals due to the
rapid digitization of end-use industries such as hospitality, retail, and
healthcare. And during this pandemic, the POS ecosystem is one technology that
has reshaped the working of most business industries smoothly.
key factors are attributing to this rising demand for the POS solution all over
transformation has helped many industries to adapt business solutions that
include cloud-based features. The inventory management POS feature helps
retailers, SMEs, and MMEs to manage their stock remotely from anywhere allowing
them to track the number of items, to know how many are in the stock, what to
reorder, and when. Thus helping the merchants in keeping up to the high demand
for goods and reducing the manual work of daily stock management.
inventory management is an important part of an effective POS solution and for
inventory management to work efficiently, it should have the capability to
print barcodes. The barcode feature
allows the POS system to know exactly where the items are located. Merchants can scan the barcodes when an item
enters the stock, when they ship the item to other stores or when they
sell. It takes very little time to
complete the checkout process in comparison with repetitive manual details
social distancing being the top preventive measure to curb the virus, customers
and businesses both are opting for maximum contactless digital payments.
Currently, the most used digital payment feature is the QR code which is
a two-step process where payment is done by scanning a QR code. The instant
credit and debit payment process provides both the customer and merchant a
receiving money via cards, mobile wallets and QR code to providing digital
bills to the customers has become a convenient way to process quick
billing in the bill counter. This is currently helping business owners
avoid long queues at the billing counter which can be of great risk at this
point. Again, providing a non-taxed invoice to customers is not only illegal
but also creates a lot of trouble for businessmen while accounting. Hence
digital bill is a relief.
data analysis feature of a POS solution allows the merchants to work
seamlessly by providing them accurate data in regards to their sales and
profits earned from each store on a real-time basis. This data report further
helps the merchants to keep track of the productivity and growth of their
customer-facing display offered by the POS solution allows the customers to
watch the transaction happen on the screen. This helps to maintain high-level
transparency in the transaction where customers can immediately point out if
there are any mistakes in the order before a bill is generated.
multilingual feature of POS supports multiple languages helping
merchants from different language backgrounds to work, smoothly especially in
tier 2 and 3.
Point of Sale is working as a protective umbrella providing a safe contactless
business solution during this pandemic. The only thing to keep in mind is to
disinfect the POS machine regularly.
(Pravinkumar Bhandari is the CEO at ePaisa which is a cloud-based multilingual Point of Sale application that transforms smartphone
or tablet into a complete business management solution. Views expressed in the article are of the author.)