Point of sale can be defined as a service that manages the sales part of the business by taking care of customers’ orders and returns. In this report limelight is thrown on point of sale system and risks associated with these systems. Additionally the use of centralized database system has been discussed and type of telecommunication network used for communicating in this system has been discussed.
Point of sale system has changed the ways business work in the market by transforming it fully automatic and reducing the manual work (SolutionDots, 2014). These systems have made the work use by removing all the manual work.
Advantage
Drawbacks of using POS system
Point of sale system has served out to offer great competitive advantages to the business by getting more audience and improving the sale of the company. It offers customer satisfaction which in turn improves the competitive advantage of the business. The detail analyses help the business stand out in the market (Jindal, et. al, 2018). The business gains competitive advantage as POS tells about which product that is needed in the market so hat business could meet the competitor. It helps in innovating new ideas according to the market need. It also generates reports on regular basis that helps in making decisions for rapid growth.
Technologies are growing day by day and have changed the way of working. Point of sale is one such technology that has allowed business to offer online payment experiences and better customer’s experience (Expert market, 2018). Point of sale system allow two way communication between business and customer and also improves the customer relationship management. It helps in segregating the business from other competitors. Point of sale system is beneficial for the system as it lowers the upfront cost of the business which helps the business to expand.
Centralised database stores the information at single location rather than distributed database where data is stored at different servers (Good, et. al, 2018). Centralised database stores all the similar databases at single location which enhances the performance and efficiency of data.
There are various advantages of using centralised database. Discussing some of the advantages:
Point of sale system helps the business in making better decisions as the first and the premier thing that it does is helps in analysing the information according to the driven choices which is essential for making correct decisions (Blake, et. al, 2015). It helps in making critical decision as they evaluate the data by reports generated automatically. This helps in making decisions as it provide a detail structure of all the sales in a business.
Would information be able to be tracked adequately through manual techniques
It is possible to track information through manual strategies yet it requires greater investment which is difficult in advanced businesses. In the manual method there are chances of getting confused information which can prompt to take wrong decisions. Tracking the data takes a considerable amount of time and human efforts that is not effective. It may also lead to some errors as manual methods sometimes do not result appropriate result.
Type of questions that could be answered
There is variety of questions that could be replied with the utilization of information that is analysed through POS. Questions related to sales, new deals or money related tasks can be effectively assisted with the POS frameworks (Adeoti and Osotimehin, 2012). Aside from this, the questions with respect to the clients are additionally given which is significant to the organization at the season of making decisions.
POS helps in managing the business in a better way as it focuses on the areas needed for making changes in the business. It uses data driven approach in which operations can be managed in a better way.
5.Telecommunication for POS
There are various telecommunication network and media that could be used for communicating in a point of sale system. These channels are used to transfer the message, data signal and information. Various telecommunication channels are:
The telecommunication technologies could be either wired or wireless technology. In case of wired communication devices are connected to each other by using cables and wires wherein the case of wireless communication devices use radio waves. It is better to use wireless technology as it offers the advantage of mobility. But its speed is less than wired network and also suffers from the security issues. Additionally, wired networks are difficult to install and it also increases but the cost of transmission is high in case wireless system.
The risk associated with point of sale system is privacy, confidentiality and security. The data is sometimes not secure on these systems as they give the right to unauthorised user to access the sensitive data. Privacy of data is necessary to keep sure that data remains confidential for this proper access should be assigned about who can read, write and modify the information (White, 2015). Thus it is important to maintain the security of data by using proper encryption techniques and software’s to secure the data from thefts.
Conclusion
It can be concluded from this report that point of sale simplifies the working of a business by making the components work automatically. Additionally, advantage of centralised database has been discussed along with telecommunication networks used for POS system has been discussed. There are various risk associated with these system.
References
Adeoti, O. and Osotimehin, K., (2012) Adoption of point of sale terminals in Nigeria: Assessment of consumers’ level of satisfaction. Research Journal of Finance and Accounting, 3(1), pp.1-6.
Blake III, N.P., Collier, C.L., McGregor, G.M. and Koser, V.R., NCR Corp (2015). Centralized user preference management for electronic decision making devices. U.S. Patent 9,021,363.
Dontigney, E., (2018) The advantages of Centralised Database storage [Online]. Available at: https://itstillworks.com/info-8623828-advantages-centralized-database-storage.html. [Accessed on: 7th May 2018].
Expert market (2018) Expert Point-of-sale. [Online]. Available at: https://www.expertmarket.com/pos/pos-system-advantages. [Accessed on 7th May 2018].
Good, T., Kearney, S.P., Giordano, P.A., Van Horn, E., Pierce, R., Colavito, S., Wilz, D., Cunningham IV, C.J., Miraglia, M.V. and Xian, T., Hand Held Products Inc (2018). Point-of-sale (POS) code sensing apparatus. U.S. Patent 9,898,635.
Huang, J., Ahmad, U., Antonicelli, A., Catlin, A.C., Fang, W., Gomez, D., Loehrer, P., Lucchi, M., Marom, E., Nicholson, A. and Ruffini, E. (2014). Development of the international thymic malignancy interest group international database: an unprecedented resource for the study of a rare group of tumors. Journal of Thoracic Oncology, 9(10), pp.1573-1578.
Jones, S.C., Barrie, L., Robinson, L., Allsop, S. and Chikritzhs, T., (2012) Point?of?sale alcohol promotions in the Perth and Sydney metropolitan areas. Drug and alcohol review, 31(6), pp.803-808.
Jindal, P., Zhu, T., Chintagunta, P.K. and Dhar, S.K. (2018). Point-of-Sale Marketing Mix and Brand Performance–The Moderating Role of Retail Format and Brand Type.
Rese, A., Schreiber, S. and Baier, D., (2014) Technology acceptance modeling of augmented reality at the point of sale: Can surveys be replaced by an analysis of online reviews?. Journal of Retailing and Consumer Services, 21(5), pp.869-876.
SolutionDots (2014) , Top 25 Advantages of Point of Sale System [Online] Avaialble at :https://solutiondots.com/blog/point-of-sale-system.html, [Accessed on 12 May’18]
Tseng, C.H., Lee, K.Y. and Tseng, F.H. (2015). An updated review on cancer risk associated with incretin mimetics and enhancers. Journal of Environmental Science and Health, Part C, 33(1), pp.67-124
White, S., At&T Mobility Ii Llc (2015). Systems and methods for handling point-of-sale transactions using a mobile device. U.S. Patent 9,053,474.
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