Understanding POS apps
A POS app is a software application that facilitates and streamlines offline transactions at the point of sale in retail or service-oriented businesses.
POS app providers install this software into any POS hardware (mobile, tablets or computers). These apps connect the hardware with other hardware like barcode scanners, receipts printers and card readers and integrate with other software within the system to process payments and manage sales data.
POS apps are pivotal in bridging the gap between traditional offline payments and modern business needs. They serve as the driving force behind POS systems, transforming how transactions are conducted and recorded.
Functionality and features of POS apps
POS apps offer a wide range of functionalities and features to enhance the efficiency and effectiveness of transactions.
The type of POS app differs with every business type and its needs.
POS apps allow businesses to collect and process payments. These apps power businesses to receive payments via different methods. Fincra, for example, provides POS apps that enable businesses to collect payments from bank transfers with POS.
This feature takes POS up another level, making them more than just about cards.
Businesses can use POS systems to manage their inventory, allowing them to track their stock levels in real time. This feature is important for retailers, logistics and manufacturing businesses.
Sales reporting and analytics
Everything is about data. With data, businesses can make informed decisions across all areas of operations. With POS apps, businesses have access to detailed sales reports and analytics. This data can give valuable insights into business performance.
Customer Relationship Management (CRM)
With their POS systems, businesses have many interactions with customers. During these interactions, POS apps collect customer information, track purchase history etc. POS apps can also integrate with CRM software to capture this information. With this information, businesses can manage customer relationships better for better customer experience and returning customers.