Retail business owners need some form of cash management system to carry out their daily cash or debit/credit transactions. The two most commonly used cash management systems are the electronic cash registers and the modern computerized point of sale system (POS). Both these systems have their own advantages, and many retail merchants have either of these two cash management systems in their retail stores.
Cash registers are suitable for small businesses where more advanced features are not required. Cash registers help in storing money in a safe and secure manner. One of the main reasons why many new retail owners go for an electronic cash register is because these are affordable. These usually come in the price range of $300 to $1000; therefore, many cash-strapped retailers find it easy to install an electronic cash register in their stores.
POS systems, on the other hand, are a relatively modern phenomenon in the retail cash management industry. Although it is more expensive than electronic cash registers, the advanced features that it provides makes up for the initial investment. In the recent past, POS systems were usually used in big retail stores; however, due to the stiff competition in the market, many affordable POS systems have arrived, making it possible for small and medium business owners to install it in their stores. There is a huge variation in the prices of POS systems as the price is determined by a lot of factors such as the type of software used, and the number of hardware devices connected to the POS system. As a result of this, a POS system can cost you as little as $1,500 and as high as $20,000. Choosing a POS system for your retail business should involve careful research and planning on your part about the needs of your business.
Read More : http://multipost.ca/