A guide to knowing about POS system development, what is POS? Its key features and a peek into its development cost.

You must have been into a shopping complex, departmental store, or mall and caught sight of a machine at the billing counter. If you still do not remember, here is your next clue. We are talking about the exact machine, which scanned, billed, generated invoices, and swiped your debit/credit card against the products you have shopped. Yes, that is a POS system. There is also a drawer for bills and coinage. Basically, a POS system is something where your customers’ retail transaction is concluded.

Contemporarily, a POS system is a must-have for every retail business, and investing in POS system development is quite a trend as well. It is proven a great tool that not only helps in generating invoices but also serves multiple purposes that can elevate businesses of all types.

After knowing what a POS is, here is a list of key features that you must look for before investing in it.

Imperative Key features of a POS system

Every POS developed is purely based on the very need of the business, as it is specifically designed after keeping business needs in mind. Let us dive into the must-have features of a POS system or we can also say the list that one must refer to before purchasing a POS.

Accessibility

As it is very important to have access to all the data remotely through mobiles and tabs.

Receipt Initiation

It must generate a receipt to keep the customer updated and aware of the purchase details.

Module Inclusion

Your POS software must be integrated with multiple modules to perform tasks like employee management, inventory management, books keeping and others, effortlessly.

Report Generation

To minimize the tiring task of report creation, one must look for a POS capable of tracking sales and generating reports to save both time and labor.

High-speed Billing

Customers pay through various modes like credit cards, debit cards, e-wallets as it isn’t limited to cash these days. A POS system should be swift in billing, accepting all relevant modes of payment.

Inventory or Stock Keeping

It will be a huge task maintaining inventory or stock and a POS will be of great help if it can update stock.

Structured Employee Management

POS is just not a system for getting invoices to use it to its full capacity one must ask the developer to devise an employee management solution as well.

Reordering Reminder

Whenever stock level goes low, it is a great feature to have in a POS system, as it will give you a reminder to stock up.

Effective Customer Management

A POS system can not only help one to speed up the entire billing process but also helps in effective customer management to offer personalized deals and discounts to them.

Safety & Security

A POS system contains a lot of information, right from sales data, customer details, inventory data , and whatnot. A POS must have security features to safeguard all the data.

How much does it cost to develop a POS system?

The cost of developing a POS system totally depends on the model one goes for. Every POS software development company develops it with its own sets of criteria based on its virtuosity and customer demands. The pricing models are, Pay once, Monthly payment model and there can be a few hidden costs too. The assumed average cost with basic features and installation can be between $5000 to $7000. If one wants advanced features or wanted to add some customized features as well, then it might be costing something around $13,000. One of the most cost-effective POS software development companies you could try out is IBR Infotech. Their years of experience in the field would definitely be beneficial.

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