Every retail business needs a machine or system to deal with recording and tracking transactions, as well as providing receipts and managing other day-to-day operations. Small-scale businesses can choose between a Point of Sale App or a cash register.
The question is: Which option is better for your small-scale retail business? The answer lies in a handful of factors. Before you take the plunge in investing in either a Mobile POS System or Cash Registers, you have to factor in your business needs.
In this article, we'll primarily cover the differences between the Cash Registers and POS apps and how they can impact your business. Keep on reading to learn more about the benefits of each, and see which type best suits your company.
POS Apps and Their Benefits
A POS App, also called a mPOS, enables users to ring up and track sales, calculates the amount owed by the customer, create receipts and more.
On a more specific note, your retail business can take advantage of the following benefits from POS apps:
- Install on any smartphone with 0 startup costs;
- Manage products and inventory;
- Create customer accounts and track purchase history;
- Get an online catalog to showcase your products;
- Take orders online and offline;
- Message customers a copy of their receipt;
- Access detailed reports and business analytics;
- Inventory management and control;
- Drastically reduce human error.
Cash Registers and Their Benefits
A cash register, also known as till, is either a mechanical or electronic device used for recording and calculating transactions at a point of sale. Typically, it has a drawer attached for storing cash and other valuables. However, today's modern cash register is usually attached to a printer. It can print out receipts for both the customers and the company's record-keeping purposes.
Below are some of the features that you can benefit from as a small business:
- One-time startup cost;
- Most models are easy to use;
- Fewer components;
- Basic functions and reporting;
- Longer life since it does not need to be updated like a POS;
Impact on a Small-Scale Business
A POS app is undeniably more advanced, posing many valuable benefits for your business as compared to a card register. However, you may want to consider the following valuable information:
- Card registers: If you run a startup or a small-scale business, you're faced with both financial constraints and business limitations. The chances are that you'd have to contend with card registers instead. Also, card registers have the ability to save money, process a customer's transaction quickly and keep records accurately.
- POS apps: With the many valuable benefits outlined above, you have all the right reasons to consider a POS app over cash registers. From detailed reporting to inventory control down to customer management, your POS app can be extremely valuable for your business.
Ultimately, every business needs a machine to process sales, whether it's an electronic cash register or a highly advanced POS app you intend to use. You have to factor in all the valuable considerations mentioned above and decide what's best for your small-scale business.