What option is better for your business – a cash register or a Point of Sale (POS) system? Read this article and discover the difference!

The cash management system is definitely the one thing in a retail store a business owner can’t do without. Whether it is an electronic cash register, a traditional cash register or a computerized POS system (Point of Sale system), every retail store needs its own cash management system.

The cash register is more than just a safe place to keep your money. Besides its ability to save your cash, it can accurately keep customers’ records and quickly process a customers’ transaction.

(Read more about: IPad Point of Sales Software: A Tablet POS system for iPad)

One of the many reasons why retail stores and business owners decide to get a Point of Sale system or a cash register is that they expect to receive many years of quality service from this device. The life expectancy of the cash register is from 10 to 15 years.

Which is Better – Point of Sale System or Cash Register?

For a new business or a startup, the choice of a POS system or a cash register may depend on the budget of the retailer.

However, there is no need for you to make rash decisions. Before selecting a cash management system, understand your business needs and then make a selection based on your decision.

One thing is pretty clear – the retailers today need the ability to run and maintain database marketing and this feature only comes with a POS system.

The Benefits of Point of Sale Systems:

  • Inventory management and control
  • More detailed reports
  • Marketing tools
  • Customer relationship management (CRM)
  • Improve accuracy
  • Omni-channel capabilities
  • Loyalty programs
  • Easily grows with business
  • Gift cards

The Benefits of Cash Registers:

  • Most models are simple and easy to use
  • Low cost for startups
  • Basic functions and reporting
  • Fewer components
  • Longer life since it doesn’t require to be updated all the time like the POS system

Before you purchase either a POS system or a cash register, you need to discover what kind of support and warranty comes with the device. You need to plan how you as a business owner and your employees will be trained to use the device. Once you will consider these facts, you will be able to decide which option is better for your business!