In 1910, a cash register and a decent set of log books was all that was really needed to run a small retail business. Even a large retail business could be run pretty efficiently with a similar, if somewhat larger system of record keeping. But today retail stores are larger and have more products, more customers, and much more record keeping requirements. Online point of sale software is one of the innovative solutions that you can use to replace too out dated cash register style selling and inventory keeping methods.
What exactly is online point of sale software? To define this we must first define regular POS software. POS software is a complex system of computer algorithms that can calculate price, taxes, total, and change when ringing a customer up. They also keep track of what was sold, and in some cases, who bought it and how much of it was sold. These systems are responsible for keeping accurate records of how much stock has been sold, how much needs to be ordered, and what stock is not selling well enough to warrant restocking at all.
A web based point of sale software system is much the same in concept with the major difference being that it is not housed in a serve on site but rather run by a remotely located server. The companies and servers that provide this are called application service providers, or ASPs. They are extremely useful for retail clothing stores, shoe stores, book stores, furniture stores, or any other retail outlet that sells ready made goods. Also, an online retail POS system can really speed up the ability to see buying trends and market accordingly.
The best reasons to move your company’s inventory to this method is that Web POS cost dramatically less than in house versions.