We’ve looked at the benefits of a point of sale system before, from a guide to buying one for your retail store to some price expectations. Here, we’ll do a quick comparison with a traditional cash register. The cash register is part of the hardware that comes with most POS systems, and for some businesses, that alone is enough to operate daily transactions and procedures. Most, however, do, or would, benefit from having a modern point of sale. Where do you stand in the great POS system/cash register debate?
The Case for the Cash Register
Traditional cash registers are generally the most cost-effective. A basic till and drawer can be under $100 and even fancier options are typically under $500.
In general, most cash registers can complete the following business tasks:
- Ring up and process transactions
- Complete rudimentary calculations, like tax and change
- Print receipts
- Hold cash
- Compile simple “end-of-day” (EOD) reports
- Track overall sales
Additional hardware can be added to the setup as well. Barcode scanners, credit card processors and digital screens can help enhance the customer’s experience or at least make your life a little easier.
You also have an option to go vintage with an old-school cash register. These will most likely not be inexpensive but they might add to your shop’s aesthetic. Plus, like old slot machines or typewriters, they’re a lot of fun to use.
Hop on the POS System Bandwagon
Every point of sale system can perform the basic operations that a traditional cash register can. Most add levels of efficiency and effectiveness. Great POS systems can vastly improve your business and profitability.
Among many other benefits, a good point of sale system includes the following:
- Smart inventory management to help keep a balanced level of product and accurate ordering
- Analytics and reports to target sales patterns and highlight possible areas of improvement
- Software integration for accounting, marketing, and customer loyalty options
- Staff management features for payroll, sales, levels of access/security, and theft prevention
- Customer database technology to promote email/text marketing and identify regular clients
With an excellent point of sale system, options go a step further:
- Cloud-based operations allow owners to have remote access (with internet connection) to all point of sale operations. This is a particular advantage for business with multiple locations. Inventory is accounted for across all stores and is reflected in real-time in a consolidated database.
- Software as a Service (SaaS) models charge a flat, monthly fee for the point of sale software and include all future updates with the subscription. Like most software, POS technology is constantly changing. SaaS ensures that you will always have the most up to date system at no extra cost. It saves you money and a lot of headaches.
- Stationary and mobile options give you more flexibility. Many retail stores want a stationary central POS and floating systems on tablets.
So Why Is KORONA the Best POS System?
If you find yourself in the POS camp in the polarizing POS system cash register debate, give KORONA’s retail point of sale system a try. Our retail point of sale software can do all of this and more. We offer customized software for a wide variety of business niches and pride ourselves on creating an intuitive, sleek interface.
There are no hidden fees. In fact, the only thing you pay for is your monthly subscription, which starts at $49/month. KORONA also offers sale and leasing options for any hardware you might need.
Additionally, we don’t require, or even offer, contracts; your subscription is month-to-month for the entirety of your service. And you’ll never be tied to just one credit card processor. With that subscription comes 24/7, free customer support from our amazing team.