The advent of any product arises after fulfilling this basic human reasoning mentioned in the title of this blog. The same is applicable to the digitalized version of today’s retail point of sale system too. Considering the trajectory of advancement in the last decade,Indian retail market has taken great leaps in terms of technological implementations, standardizations, employment opportunities and respective market share. An interesting fact of the retail sector is that, these factors affect the big players of the industry in the same proportions as that to a single store owner. The only obvious difference is the amount of profit or loss that happens (ratio remains the same in both cases).
So the need to have a best POS software to the owner of a well-known chain of restaurant is the same as that for a busy single store owner. POS stands for ‘Point of Sale’ and as the name suggests, it is a counter or a place where the sale transaction of a product or service is executed. This does not mean that the POS software is restricted to billing or cash registering only. These software today helps a retailer to automate every phase of the retail business flow. ‘Spectrum’ our multi-faceted POS software does the same. It is a modular, scalable & configurable Retail Business Management Suite that has been solely built for the retail industry.
POS software keeps the retailer updated on the sales figures, the cash flow, loyal customer counts, inventory or warehouse stocks and more. It maintains a database so that when an analysis is required the respective reports can be generated. This analytic approach in turn helps the Retailer to develop future plans for more efficiency and profit.
Considering a recently opened restaurant,as an owner, the requirements that are vital to run the restaurant efficiently would be –
- Table management: POS software lets the owner from a single system allocate the table, the orders and
- KOT: It stands for ‘Kitchen Order Ticket’, POS lets the owner have a direct print out of the order list in
the kitchen thereby saving time.
- Billing: POS also enables the integration of electronic billing transaction through credit, debit or smart
- Inventory management: The Point of Sale system records the inflow and outflow of stock. The amount of raw
material used on a daily, weekly, monthly or yearly basis (as per requirement).
- Home delivery: The rate of home delivery increases with best POS system as everything proceeds in a systematic
fashion from order received to the dispatch of the food item.
- Reports: One of the major features of POS software is the ability to store data and then analyze it as
per requirement and avail it in the form of a report. The restaurant owner can check his menu popularity, trends, most demanded item and the least ordered items using these reports.
The above example represented a restaurant /bar / QSR business structure, whereas for any other retail business also, the POS software would provide a 360O coverage, creating a transparent and profitable workflow.
Spectrum – one of the best Retail POS Billing Software in India – offers an enriching experience to the retailers by helping them rapidly execute strategies, drive sales, enhance customer experience and improve profitability. The most important advantage while using Spectrum is that each and every proceeding will be accounted for, thus reducing the margins of having any loopholes.