The checkout counter is one of the most important contact points with your customers, necessitating the use of an appropriate cash management system. While cash registers remain a favourite in the retail community, advanced Point of Sale (POS) systems are becoming increasingly more popular. When choosing between electronic cash registers (ECR) and POS systems, the needs and size of your business will help determine the best transaction hub.
The cost of running your business is one of the biggest determining factors when purchasing a cash management system.
There are a wide variety of cash registers on the market – from the most basic, to registers with a fair amount of digital capability. This means there’s bound to be a device to suit your budget. There are also no other costs involved after the initial purchase aside from till rolls and ink. If you have a large retail business, however, you should be able to afford the more costly POS systems as well as the software to get them up and running. You might also have a large quantity of pay points where a POS system can be installed which would allow you to sync all your POS units. Maintenance costs on cash registers are also kept to a minimum whereas highly advanced POS systems, usually running on an operating system, which requires regular upgrades. The hardware of a POS system is also more expensive to replace and requires an expert to conduct troubleshooting.
Cash registers and POS systems offer features to suit your specific transaction needs.
Aside from the initial cost, the second biggest advantage of cash registers is their ease of use. There are usually no complicated interfaces, making it simple to train cashiers, as well as speeding up the payment process. Basic cash registers don’t have features to help you draw up financial reports and track inventory data. Some intermediary electronic cash registers, however, do have limited reporting and other program setting capabilities. A POS system will require you to upload your stock and product details onto the system as will a cash register. This makes sense if you have a large retail business, or have an extensive product inventory. Staff and cashiers will also need to be trained on how to operate and make changes to the system, but the POS integration process is quite simple.
Carefully consider your business’s safety needs when choosing a cash management system.
When working with cash on a daily basis, security should be your biggest concern. If you are operating a small business make sure that you choose a cash register with a lockable drawer. Registers with more advanced capabilities should also allow you to set up a password, restricting access to the device and its contents. Secure your business’s transactions with Sharp’s safe and reliable cash registers and POS systems. Click here to view their range of cash registers available from Seartec.
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