Some popular, recognizable POS systems that you might have heard of include Square, Shopify, Intuit QuickBooks, Revel, and Lightspeed.
It depends on the POS system that you use. Most POS systems should provide you with an easy-to-use central dashboard for your business, which pulls together all of your sales data and shows you analytics and insights all in one place. Look for menus that say “Reporting” or “Data Analytics.” Or if you can’t find what you need to make a POS report, check out the FAQ for your POS system and contact customer support for more details.
A point-of-sale (POS) system is the central point of contact for customers to buy from your business. But instead of an old-fashioned cash register, today’s POS systems are digital, enabling online sales as well as in-person transactions.
The best POS systems today do more than just swipe credit cards and process payments; they give the business owner visibility into the valuable sales data that is collected every day from every customer interaction.
POS systems can be simple or more robust, depending on the size of your business and how many transactions you need to handle. Some small businesses might be fine with using a simple mobile credit card reader. Larger businesses might need more advanced hardware for brick-and-mortar retail space, with more sophisticated online tools for ecommerce.
As your business grows, your POS system might need to evolve along with your growing needs. Be prepared to switch to a new POS system or invest in additional POS hardware to keep accommodating your business’s level of customer demand.
Sometimes as a consumer, you’ll see the word “POS” on your bank statement or credit card bill; this is an abbreviation for “point of sale,” and it means that the transaction was made via point of sale (POS) system at a merchant’s place of business (or online).