If you own or manage a business, then you may be wondering about electronic cash registers or POS (Point of Sale) systems. Essentially, both technologies allow you to easily accept payment from your customers and record the transaction. However, cash registers and POS systems differ in the advantages and disadvantages that they carry. This article will help you understand the key differences so you can decide which system is best for your business:
Electronic Cash Register
If you run a small business, you may be watching your budget more closely than a large corporation. Electronic cash registers are often less expensive than POS systems. And even if you select a lower-cost cash register model in the beginning, you can upgrade to a higher quality register in the future as your sales grow.
Another great thing about registers is that they are relatively easy and quick to use, whereas you need to learn an entire new system with a POS. Most basic register models include some type of display, keyboard, and printer. Even cheaper models can include the ability to make calculations to provide accurate change.
However, a disadvantage of electronic cash registers is that you need to be careful about selecting a machine with enough memory, as you are relying on the built-in hardware to store important sales, contact, and credit card data. Also, you could lose your cash register data during a power outage, so you'll want to consistently keep a backup file of your customers' information and your business information like sales, inventory, and tax owed. The risk of an outage is significant considering a 2007 report by Emerson Network Power in which 79% of small-business decision-makers that they surveyed experienced power outages.
Quite frankly, POS systems are often more expensive than electronic cash registers. After all, there is much more software and maintenance associated with POS systems. But it could be worth the investment.
The very software and functionality that makes a POS system more costly is also what makes it so advantageous. With the ability to perform updates, you can enjoy the latest technological advances. You can place orders right from the POS and you can usually calculate everything from sales tax, to discounts, to bill totals for particular parties or tables with a POS device.
An additional advantage is that many POS interfaces are touch screens. It can be very easy to tap in an order, process a refund, or re-arrange the digital buttons of different items on your menu from the screen. And in the case of a power outage, your information will be saved in a database for easy recovery.
In conclusion, both an electronic cash register and a POS system can do the job of accepting payment from customers. However, depending on your business, you may wish to invest more into a POS upfront or invest less upfront for a register. A POS can be incredibly beneficial to your business, but you may not need the added functionality, so be sure to purchase your system of choice with logic, not emotion. To learn more, contact a company like Sandtronic Business Systems Ltd.Share