Topic:

Report of Point of Sale (POS)

Submitted By:
Abdul Basit ADM-507
Abid Hussain ADM-506
Faiq Ahmed ADM-513
Abdul Raheem BB-8070
Muhammad Sheraz BB-8083
Danish Hussain BB-8032

Submitted to:
Sir Syed Muhammad Inam Ullah

Ilma University
Address:
Main Ibrahim Haydri Road, Korangi Creek, Karachi.
Contents

Title Page…………………………………………..……………………………….1

Acknowledgement………………………………………………………………3

Abstract………………………………………………………………………………4

Introduction………..…………………………..…………………………………5

History.….……………………………………………………………………………6

Advantages/Disadvantages…………………………………………………7

Future Work…………..…………………………………………………………..8

Conclusion…..…………………………………………..…………………………9
 Acknowledgement
Firstly we would like to thanks our Almighty Allah to give us such a
great opportunity to make this type of report after that our humble
gratitude to our great teacher “Sir Syed Muhammad Inam Ullah” who
gave us a chance to open our wings and let us show our ability by
making this report.
Abstract:
In this report, we are going to tell about the Point of Sale system
that what is Point of Sale? How it works? What are the easy way to
understand Point of sale? By giving some definitions and descriptions as
well as examples.
Besides this, we will also discuss the history of Point of Sale
system and devices that when it was launched? Who is the person? And
in what kind of circumstances it is necessary and useful? And very
important we will also talk about the main purpose of Point of Sale
system.
After that we will go through the advantages and disadvantages of
Point of Sale system which should be read by any of the person who is
related to information technology and its different kind of inventions.
Then we will discuss about the future work of Point of Sale system
that in future, how will it survive? Or how will it make place and create
importance for itself among the different inventions of information
technology? And also what are the things which make it useful for the
business?
Finally, we will make a conclusion about our selected invention of
information technology namely Point of Sale system that whether it is
useful or beneficiary for mankind and the user of information
technology and all of the persons whose related with it at each and any
stage of life.
Introduction:
A point of sale (POS) is a place where a customer executes the
payment for goods or services and where sales taxes may become
payable. A POS transaction may occur in person or online, with receipts
generated either in print or electronically. Cloud-based POS systems are
becoming increasingly popular among merchants. It could be further
define or explain by the following:

A POS or point of sale is a device that is used to process

transactions by retail customers. A cash register is a type of POS. The
cash register has largely been replaced by electronic POS terminals
that can be used to process credit cards and debit cards as well as cash.
A POS may be a physical device in a general store or a checkout
point in a store.

Understanding POS:
Points of sale (POSs) are an important focus for marketers
because consumers tend to make purchasing decisions on high-margin
products or services at these strategic locations. Traditionally,
businesses set up POSs near store exits to increase the rate of impulse
purchases as customers leave. However, varying POS locations can give
retailers more opportunities to micro-market specific product
categories and influence consumers at earlier points in the sales
funnel.

For example, department stores often have POSs for individual

product groups, such as appliances, electronics, and apparel. The
designated staff can actively promote products and guide consumers
through purchase decisions rather than simply processing transactions.
Similarly, the format of a POS can affect profit or buying behavior, as
this gives consumers flexible options for making a purchase.
History:
The first POS system was the cash register, invented in 1879 by
saloon-owner James Ritty of Ohio. The cash register enabled users to
record transactions without error, allowing for better bookkeeping and
management of capital. Ultimately, Ritty sold his invention to the
National Cash Register Corporation (NCR) in 1884.
When did POS system start?

In 1971, they created the only cash register that could handle the
conversion of currencies, which made their business boom. Then the
first POS systems were introduced to the market in 1973. IBM
announced the electronic cash register (ECR), as a mainframe computer
packaged as a store back end.
Who launched the POS device?
Digital payments provider Pine Labs has launched Mini, a cheaper
variant of its point-of-sale (POS) device, which will allow merchants to
accept both quick response (QR)-based and card-based payments.
What is the main purpose of POS?
A POS or point of sale is a device with the main purpose of
performing transactions of selling goods or services either manually or
electronically.
Advantages:
Using a POS system helps to save time, as POS systems are packed
with features that reduce the amount of time you need to spend on
admin or mundane tasks.
POS systems can help you manage inventory, orders, customer
service, purchasing, reports, and more. A POS system can, for example,
provide up to date reports on inventory so you can easily stay on top of
stock.
Depending on the software features, retailers can track pricing
accuracy, inventory changes, gross revenue, and sales patterns. Using
integrated technology to track data helps retailers catch discrepancies
in pricing or cash flow that could lead to profit loss or interrupt sales.
It also tells about all descriptions of each transaction including
date and time, sales person, customer information, items sold and
discounts etc.

Disadvantages
Because POS systems come with several functions, a lot more
than a traditional cash register, they are a lot more costly. To run a
functioning POS system, you’ll need a reliable internet connection. If
your store doesn’t have the best connection, a POS system may be
tricky to run smoothly.

For customers who use their cards to make a purchase, it can be a

risk when they have to enter their PIN, as this could be exposed to
others. Like any internet-based system, a POS can be infected with bugs
or malware, which can stop it from working. POS system providers will
often come out with upgrades to improve the system, which is great,
however, it means you’ll often have to pay for upgrades.
 Future Work:
POS systems are increasingly interactive, particularly in the
hospitality industry, and allow customers to place orders and
reservations and pay bills electronically.

The software for POS devices is growing increasingly elaborate,

with features that allow retailers to monitor inventory and buying
trends, track pricing accuracy, and collect marketing data.
Amazon’s concept convenience store, Amazon Go, which deploys
technologies that let shoppers come in, grab items, and walk out
without going through a register, could revolutionize POS systems.
Besides increasing convenience, this could enable POSs, loyalty, and
payments to be rolled into a single customer-centric experience.
Customers can also interact directly with POS systems,
particularly in the hospitality industry. Often referred to as location-
based technology, these systems can process transactions at customer
locations. For example, at many restaurants, customers can view
menus and place orders on terminals located at their table. In hotels,
customers use similar terminals to place orders for room service or to
pay hotel bills.
We can also evaluate our employee performance by see
“Employee Performance Report” in POS that tell you who is your
bestselling employees?
POS can also tell us about Average Units and Sales per
transaction, and Average Transactions and Sales per hour.
POS can also print sales report for any Date Range or for a
particular day which can help to sort out any query or problem at the
time of making sales return or any other matter related to it.
Conclusion:
To stay competitive and aid brand owners in promoting their
products, POS display manufacturers are focused on improving
aesthetics and creating innovative product designs. Also, the
intensifying competition in the retail industry and resulting use of POS
displays for enticing customers to purchase products have encouraged
retailers to demand different custom-made displays capable of serving
specific needs across different retail facilities. Customization offered in
terms of aesthetics, capacity, and mobility can greatly impact a
company's brand identification.
At this stage, the technology had gone far beyond simply
recording sales and storing cash; it was now called electronic point of
sale (EPOS) and included features that supported business in a broader
sense, such as reporting, customer relationship management (CRM),
and inventory management.
The focus of a POS is almost exclusively on carrying out
transactions. An EPOS system is a modern electronic update of the
traditional POS system, and is a combination of the hardware and
software needed to carry out transactions and streamline the
management of a business.
Finally, after reading all the things and getting knowledge about
the POS systems we can conclude that it is not harmful for your
business rather it is useful and beneficiary for you and also your
business and it is one of the best invention of information technology
we have and we cannot neglect this invention by our words and
expressions as many other different inventions of information
technology works for the betterment of humanity and mankind and
make easy the way to perform daily routine operations whether in the
office or in the home.