Point of sale (POS) is just another name for the cash counters where you pay for your purchases. This could be a supermarket or a highway establishment or any other physical location where money is exchanged across the counter for consumer goods. But gone are the days when one used gingers and mental arithmetic for cash transactions. POS technology has revolutionized consumerism around the world. Electronic calculation, automatic billing, credit card processing, and an accurate record of all day-to-day activities are all just a click away if you have POS systems at your outlet. POS are designed to streamline sales processes and increase efficiency at the point of sale. The error margin in accounts and staff management is considerably less compared to manual POS management, as information is stored and accessed electronically.

POS technology was first developed as barcode readers and electronic cash registers for the Universal Product Code (UPC) in 1974 for the United States and Canada; it was aimed at accelerating the payment process in a business transaction. But now, they are fully standardized computer systems that keep track of the customer records, stores, and product information in a sales or service outlet. What first served as an advanced calculator has now emerged as a means of foolproof remote management of business procedures across the globe. With the advent of wireless technology, POS has taken a step forward with handheld POS systems that bring information to your fingertips.

Many manufacturers and dealers offer ready-to-use POS technology, complete with hardware, software, and equipment to suit the specific needs of different users. They include monitors, computer terminals, scanners, printers, and cash registers, along with easy installation software CDROMS. Basic computer requirements for a basic POS system are Windows, UNIX, or Linux, depending upon the kind of software used for point-of-sale activities. Gathering business intelligence becomes much faster with the aid of a POS system, providing for accurate planning of profit margins and increasing sales efficiency.