Understanding POS System And POS System Provider In India

A POS System or Point Of Sale (POS) system is a combination of hardware devices and software that retail businesses use to manage sales transactions and process payments. POS System manages sales, accepts payments, and generate receipts against the sales to the customers by the seller.

POS system enhances the overall efficiency of a business by automating and organizing key aspects of the sales process. It’s an integral tool for businesses in various industries, providing valuable insights and improving customer service.

It serves as the central hub where retail transactions take place, and it goes beyond just processing payments. In my earlier articles, you have gone through the best ERP software and best CRM software for small, medium, and large enterprises. Now in this article, I’ll explain the POS systems, their need in modern day stores, needed hardware and software to run the POS system and the key provider/supplier of POS systems in India.

1. Understanding POS System

A. POS System Hardware Components

(i) Cash Register/Computer: The main device where the software runs, often a computer or tablet. It is a modern day cash register. It should be touch enabled display which should work with other peripherals such as barcode scanners, receipt printers, payment terminal devices, and cash drawers etc.

(ii) Barcode Scanner: This device is used to scan product barcodes for quick and accurate input.

(iii) Receipt Printer: Prints customer receipts for purchases.

(iv) Cash Drawer: Safely stores cash during transactions.

(v) Card Reader/POS Terminal: Reads credit and debit cards for electronic payments. You can check check the POS terminal providers list for your establishment.

B. POS System Software Roles And Functions

(i) Sales Processing: Records and processes sales transactions, including item details, quantities, and prices.

(ii) Inventory Management: Tracks and manages the stock of products, updating quantities with each sale.

(iii) Payment Processing: Handles various payment methods, including cash, credit cards, and digital wallets.

(iv) Order Management: Manages orders, including modifications, cancellations, and order history.

(v) Customer Relationship Management (CRM): Stores customer information such as name and phone/mobile number, purchase history, and supports loyalty programs.

(vi) Reporting and Analytics: Generates reports on sales, inventory, and other key metrics to aid in business decision-making.

(vii) Employee Management: Tracks employee sales, hours worked, and manages permissions.

(viii) Integration: Connects with other business tools such as accounting software, e-commerce platforms, and more.

C. Types of POS Systems

(i) Traditional POS Systems: Installed locally on a business’s server or computer.

(ii) Cloud-Based POS Systems: Hosted on remote servers, accessible from any internet-connected device.

D. Benefits of POS Systems

(i) Efficiency: Streamlines the sales process, reducing manual errors.

(ii) Inventory Accuracy: Provides real-time updates on stock levels.

(iii) Sales Tracking: Records sales data for analysis and reporting.

(iv) Customer Insights: Helps understand customer preferences and behavior.

(v) Security: Securely processes transactions and protects sensitive customer information.

E. Industry-Specific POS Systems

(i) Retail POS: Tailored for retail businesses, managing sales and inventory efficiently.

(ii) Restaurant POS: Includes features for order management, kitchen communication, and table reservations.

2. POS System Provider List in India

(i) Zakya POS by Zoho

Overview: Zakya POS by Zoho offers a cloud-based solution suitable for various business types, providing features such as inventory management and analytics.

Key Features: Customizable interface, support for multiple payment methods, and real-time reporting.

(ii) GoFrugal POS System

Overview: GoFrugal POS provides POS solutions designed for retail, restaurant, and distribution businesses, offering features like billing and inventory management.

Key Features: Multi-store support, loyalty programs, and integration with third-party applications.

(iii) HDPOS Smart

Overview: HDPOS Smart is a comprehensive POS system with features for billing, inventory management, and customer relationship management (CRM).

Key Features: Barcode integration, GST compliance, and detailed sales analytics.

(iv) Marg POS

Overview: Marg POS is tailored for various industries, offering features such as order management, accounting, and mobile app support.

Key Features: Touch-based billing, GST compliance, and inventory tracking.

(v) Ginesys POS

Overview: Ginesys POS provides a POS system with a focus on retail and fashion businesses, offering tools for inventory control and sales management.

Key Features: Centralized control for multi-store operations, real-time data synchronization, and mobile reporting.

(vi) Vyapar POS System

Overview: Vyapar POS is known for its user-friendly POS system designed for small businesses, offering features like invoicing and expense tracking.

Key Features: GST compliance, barcode scanning, and support for various payment methods.

(vii) EasyPOS

Overview: EasyPOS is a cloud-based POS system suitable for different business sizes, providing features like inventory tracking and sales reporting.

Key Features: Customizable user interface, order management, and integration with e-commerce platforms.

(viii) Just Billing

Overview: Just Billing offers a POS system for small businesses with features such as digital receipts, inventory tracking, and GST compliance.

Key Features: Multi-location support, customer loyalty programs, and offline capability.

(ix) POSist

Overview: POSist is designed for restaurants and hospitality businesses, offering features like order management, kitchen display systems, and CRM.

Key Features: Table management, online ordering integration, and real-time sales analytics.

(x) MARG ERP 9+ POS System

Overview: MARG ERP 9+ POS is an integrated solution for retail and distribution businesses, providing features like inventory control and accounting.

Key Features: Barcode scanning, financial accounting, and support for multiple tax structures.

Overview

When selecting a POS system, it’s crucial to consider the specific needs of your business, the industry you operate in, and the scalability of the solution for future growth. You should properly analyze the POS system licensing cost, renewal cost, Software update support, and the customer services offered by the POS service provider before purchasing it.

You should make informed decision after reading reviews online about the particular vendor, comparing the license cost and after sales service by the POS system provider.