Point of sale (POS) system is the spot where your customer makes the payment for goods or services that are offered by your company. Point of sale systems are systems that enable the business transaction between the client and the company to be completed. POS system is a computerized network that consists of the main computer linked with several checkout terminals and supported by different hardware features starting from barcode scanners and ending with card payment terminals. As businesses have different profiles they need various point of sale systems. For example, restaurants, retail businesses, and grocery stores all have their specialties and they need a POS system that meets their specific needs. A food store requires a scale at the point of sale and a cafe needs to have an opportunity to customize menus in case of special offers. But in general, there are two primary types of businesses that need the point of sale system. These are retail companies and hospitality businesses such as restaurants and hotels. That also means that there are mainly two suitable POS systems one for retail and the other for restaurant businesses. How Useful is POS System? It allows better analytical thinking and planning. It allows you to Increase your business efficiency. It allows you to make personal client communication more efficient. Classifications of point-of-sale software: These systems include: Mobile POS. Basically used to manage and process payment but can also have other functions like inventory tracking. It is ideal for sole entrepreneurs and small businesses because of its simple setup, operation and affordability. Terminal POS It can be both software and hardware based system that can carry add-on devices such as barcode scanners and cash drawers. It is the most commonly used system by businesses because of advanced functionality and reasonable prices. Cloud-Hosted POS. It is an online or web-based system you can use with your existing hardware (such as a computer, tablet, and printer). It is suitable for businesses of any size especially startups because of the systems affordability, scalability and convenience. Cash Register: Cash registers are used to record payment amounts and to handle cash throughout the business day. There are multiple types of cash registers, including electronic registers, Square iPad cash registers, and other computer-based registers. While each register has some unique features, they all share similarities in their operation. Advantages of Cash Register: Your Inventory control will be accurate. It speeds up the checkout process. Barcode labelling. Keep Tabs on employee time cards. Loyalty cards for employees. Accurate records. You get to integrate your accounting. E-commerce Integration. A POS system requires a tablet or computer to run the software and a cash drawer. If you are a retailer, you will require a barcode scanner and a receipt printer. As with a traditional cash register, you will need a card reader for accepting credit and debit card payments. POS systems are ideal for any brick-and-mortar business because they make inventory tracking, sales reporting, and customer management much easier. Particularly, restaurants, boutiques, and specialty shops should use a POS system. Both cash registers and POS systems are relatively easy to use. Cash registers have manual buttons for entering items or prices, whereas POS systems typically operate on a touch screen. They both have minimal training times and are built for use in fast-paced retail environments.