Lightspeed’s point of sale systems
Whether you run a retail store or a restaurant, you should be using an ePOS system that does more than simply process transactions. Our cloud-based iPad ePOS systems are specifically tailored to meet the needs of today’s independent retailers and restaurateurs, while keeping the customer experience at the core of its design. Offering features such as a powerful accounting integration, robust inventory management software, detailed reporting dashboards, advanced purchase ordering and customer relationship management tools, you’ll find everything you need to run a successful business and make your life easier. Whether you’re opening your first business or expanding your current one, find out how Lightspeed’s retail and hospitality ePOS solutions can simplify your job while helping you grow your bottom line.
What is a POS or EPOS?
The term “POS” or "EPOS" stands for point of sale or electronic point of sale (commonly used in the UK) which, in general, is defined by any location where a sale or transaction may take place. By this definition, you could easily associate it with a market, a mall or even a city since these are all places where products or services can be bought or sold. Traditionally, POS refers to the area surrounding the cashier or counter where payment is accepted during checkout. The term point of purchase is another way to put it.
A POS System refers to the combination of software and hardware that retailers and restaurants use to conduct sales and manage inventory, employees, reporting, and analytics. It saves store owners, bookkeepers and sales staff time by taking care of repetitive tasks and automating manual processes. Typically, a POS system consists of a computer or mobile device, such as an iPad, a receipt printer, a barcode scanner and an EMV-compliant credit card reader. The difference between on-site and cloud-based POS’s, is the server. Cloud-based POS systems don’t need an on-site server because all your data can be accessed, saved and synced online, wherever you are.
What is a cash register?
Simply put, a cash register manages your transactions. It typically has a compartmental drawer for cash, and it totals, displays, and records the amount of each sale. It is important to note that technically, cash registers only transact with cash. If a business wishes to offer the option to pay debit or credit to its patrons, they then need to integrate a separate piece of hardware. On the other hand, a POS system not only comes with all these payment methods to begin with, but also tracks gift cards, split bills and split payments.
What is the difference between a POS and a cash register?
Your cash counter can be so much more than just a place where you keep...well, cash. Upgrading to a POS system turns that counter into the hub of your business. Manage your inventory, track customer preferences, manage loyalty programs, create personalized customer experiences, track employee performance, run the reports you need to guide your business decisions and so much more.
Need to head out for a meeting? Grab your tablet, phone or laptop and access all your data at the touch of a button with your mPOS (mobile point of sale). Try doing that with a cash register.
What is POS software?
POS software is the brain of your system; it’s your command center. Essentially, the software is what enables you and your staff to ring up sales, manage your inventory, access reports and so much more. Watch a demo
What is POS hardware?
POS hardware are the physical objects you use to download the software onto and/or the add-ons that give you full access to what the POS software can offer your business; this could be the desktop computer, iPad, receipt printers, cash drawers or even bar code scanners, should your business require it. When shopping for your new POS system, make sure it comes with all the necessary hardware you need to accept all forms of payment including cash, credit cards (especially chip cards or even paypass), and mobile payments. Start your free trial
When do you need a POS system?
When you start wanting to be able to do more than simply ring up sales, that is when you know you’re ready to upgrade your cash register to a cloud-based POS system. We think, and you’ll agree, you can never have too much data or insight into your your business as these are essential to your decision making. Any business, big or small (or even tiny), will benefit from a good POS system. In fact, small businesses can benefit from it simply by appearing much more legitimate. That extra boost is vital, especially when you’re just starting out. Talk to an expert
Benefits of using a EPOS system for credit card processing
Taking credit card payments on a standard payment processor does the trick, but by now you know that conventional methods don’t typically do much to improve and grow your business. A POS transaction not only collects payments but also tracks and records the data for every transaction and reflects it in your inventory, reports and customer profiles. Of course, a PIN number or signature is still required, giving you and your customers the banking security you expect, and the convenience they need.
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