What is a POS system and why is it important?

Using POS - Business owner using Clover POS device to accept card payments

As technology and digital services evolve, acronyms and initialisms continue to crop up faster than most of us can keep up with. For small businesses, remaining at the forefront of payment processing technology is vital for success.

Understanding POS systems is the first step towards maximising your business’ performance. In this article, we’ll take you through what a POS system is, what it’s used for, and the many ways in which it can benefit your business.

What is a POS system?

POS stands for Point of Sale, so a POS system is effectively where sales are processed.

As technology has evolved, the functionality of POS systems – sometimes called EPOS (Electronic Point of Sale) systems – have improved monumentally, with today’s modern machines boasting all sorts of integrated business features and capabilities.

For example, First Data’s POS solutions have the ability to:

  • Manage your inventory
  • Print, email or text receipts
  • Create and monitor loyalty programmes
  • Take payments on the go
  • Monitor real time sales data
  • Manage employee shift rotas

How POS systems work

Unlike the clunky cash registers and till systems of the 19th and 20th century , our modern POS systems no longer restrict you to one point of sale location – unless, of course, you want it to.

The benefits of a POS system is that it can work in a variety of different ways and perform a range of different functions, depending on what’s most important for the day-to-day running of your business.

What’s more, our POS systems are more than just payment processors, they also come equipped with a whole host of business management apps for a broader, more integrated experience.

Why are POS systems important?

In this modern world of ours, staying up-to-date with cutting-edge technology is vital for business survival and success.

In the old days, cash was considered king, but those days are gone. Now, your customers want convenience and they expect to be able to pay for goods or services in a variety of different ways – most of which don’t involve cash.

By investing in a modern, multi-functional POS system, you’re giving your business more credibility among your customers. It is this all-important triad of the 3 C’s – convenience, consistency and credibility – that ultimately wins customer loyalty.

What’s more, our POS systems efficiently track and analyse sales data, providing you with unparalleled insight into business performance. With this level of insight and understanding, you can make effective and strategic improvements to your day-to-day business performance to ensure the best experience for you, your staff, and your customers.

What to look for in a POS system

When it comes to choosing a POS system that’s the right fit for your business, it’s important to know what type of thing you should be looking for.

So what is the best pos system for a small business? Well, that depends on what your trade is and what your business goals are. At First Data, our award-winning POS systems are designed with the needs of small business owners like you in mind.

We know that running a business involves wearing a lot of different hats, that’s why we developed our family of Clover all-in-one POS solutions, to give you everything you need to run your business in one incredible machine.

Clover Station

This stylish station is the perfect countertop POS solution for businesses in many different industries. Equipped with a flexible swivel screen, high-speed printer and multiple connectivity points, Clover Station is customisable to suit your specific business needs.

    Accept all payment types

    Built-in fraud protection

    Business management apps

    Integrated analytics

    Cloud-based software

Learn more about Clover Station

Clover Flex

Aptly named for its flexibility of use, Clover Flex is a portable POS machine that places a suite of powerful tools right in the palm of your hand. Serve your customers tableside, or reduce waiting times by taking payments in the queue.

    Take card payments on the go

    Flexible, portable, adaptable

    Accept all payment types

    Built-in fraud protection

    Business management apps

Learn more about Clover Flex

Clover Mini

This compact but powerful card machine can simplify your business as much as you’d like it to. Though perfectly suitable for payment transactions alone, Clover Mini can also be scaled up to full POS functionality as your business grows.

    Built in printer

    Cloud-based

    Accept all payment types

    Secure interface

    Business management apps

Learn more about Clover Mini

Is your successfully business keeping up with the speed of commerce? If not, give us a call on 01268 983 055 to learn more about the advantages of a POS system and find out how we can help enhance your business’ performance.