POS attacks are quite common these days. The Target hack, one of the US’s largest data breaches in history, exposed the data of over 70 million customers to hackers, and cost the CIO and CEO their jobs in the retail chain. If Target had added auto-eradication feature in its anti-malware program, FireEye, the attack could have been prevented. In fact, you can avoid most POS attacks with proper safety measures.
Most of the attacks, including Target and Wendy, have occurred because malware was installed on the memory of POS system. Hackers can upload malwares into POS systems secretly without merchant or user knowing what is being done. iOS can run only one app fully at a time. So, such attacks rarely happen on iPad devices.
End to End Encryption
Companies like Verifone provide programs that ensure complete security of customer data. These tools are used to encrypt credit card data for POS security. This way, you can prevent the vulnerability of data, no matter where hackers are installing malware.
It is the common and widely used solution to avoid POS attacks. To ensure malware doesn’t attack your system, install anti-malware program on your system. These tools scan the program on POS device and detect suspicious apps or files which should be removed quickly. It will alert you to those areas and start cleaning up to ensure malware doesn’t cause data theft.
Keep your systems locked
No matter how trustworthy and loyal your employees are, there are still a lot of risks of human error or inside jobs that can cause huge trouble. Some employees can leave the device with POS system in a store, at the office or just misplace it. If devices are stolen or lost, anyone can access the software and the device and steal and view customer records.
Most customers choose credit cards to make payments rather than cash. If you are selling any kind of product or service, accepting credit card payments can significantly improve your business. You need to decide how to interact with customers. You can use mobile credit card system, POS system, or web.
Collect all the mandatory documents
You should have a business account before you start a merchant account. You will need your employer identification number and business license. You can get the license at your home state from the Secretary of State and EIN from Social Security Administration.
Apply in person or online
Submit all the information required such as bank account number, authorized signer, and routing numbers. Also provide your EIN and submit estimates of volume of transactions you want to process. Consider the start date of your business and provide contact details.
Choose POS for your retail business
If you have physical location and perform huge amount of transactions, you may want to invest in the best POS equipment. The point of sale is a specific area in your business where one can complete transactions. You can train your employees well to use this equipment and schedule it. Restaurants, retailers, and spas are some of the businesses which use POS system.
Paying for POS
Cost of POS system varies. The cost varies according to the types of credit cards accepted in your organization and type of POS system you use. It also varies according to the volume of sales. The fees for credit card swipe range from 0.35% to 3.7%. Along with it, you also need to pay a specific amount, i.e. starting from 10 cents to 30 cents for each transaction. You can lease or purchase the equipment and cost varies according to what you buy.
Inventory management program can come handy when it comes to monitor your inventory as it updates your sales and purchase records automatically. You should also have a system to monitor your inventory manually to cross-check the results.
Store and organize the updated documents
Be sure to keep your weekly checks updated (or any time period you want) in neat binders or folders which are organized as per the month. If you need inventory information for a specific week, you can find it well. It is also helpful to provide any details to the accountant.
You should also cross check the details from your manual count with any software you might be using before you store it. Make sure to tally the inventory level of the program and your manual check. If not, someone has entered the wrong information, inventory is missing, or you’ve made a mistake during your count. So, you need to recheck it.
Upgrade to a POS Inventory Management system once your business grows
As the name implies, the POS inventory control can be managed at point of sale, such as computer or cash register for checkout to keep tab of your inventory. This way, you can run your reports at the end of day, month, or any specific time.
If you have very large stock in your business or if a lot of sales are made in a day, you can track your stock in real time with a POS system. These systems usually come with POS cash drawer or register and managed by POS software.
These systems update your inventory automatically every time when you make a transaction and it will also notify you when you need to reorder items or when you are running low on supply. Also consider the basic functionality and ease of use.
POS system can help increase sales at your pizza parlor by automating the whole operation from order to delivery processing. It goes without saying that margins on pizza sales are slim so you should do everything to raise repeat business like faster service and online ordering to keep customers coming for fresh pizza. Here are the key cloud-based features of POS to boost sales.
Sales receipt is very important to make a great impression. These are the written proofs of purchase to help your pizzeria stand out of the rest, disseminate details about coupons, promotions, build brand reputation, and solicit feedback. You can customize receipts to add social media pages and website info so customers can get informed about new items. This way, POS receipt printers are integrated with cloud-based applications to download print receipts from online ordering. They can communicate with printer without additional hardware and ensure smooth integration in online ordering.
There is no need to upgrade hardware to seek online ordering. The POS printer can integrate with your POS system to bridge between the printer and ordering module. Online orders are 25% higher than the ones placed over phone. Diners choose to order online as they can place order without having to wait for anyone. It can also help reduce errors when taking order over phone and adding the same to POS system. Online ordering can also keep staff updated with sales reports and ingredient tracking in real time and avoid disappointment when diner gets the selections they have already ordered.
In-house device management and delivery
This way cloud-based system can keep you in the know about hardware issues before it gets into bigger issue. You can get the detailed insight to your installed printers and the ones at different locations on online dashboard. It is important for maintaining, monitoring, and updating receipt POS system.
All POS systems come with their own set of features. Not all POS programs are made equal. Whether you own a restaurant or retail store, Gemini Computers stocks huge range of POS systems to exceed your expectations. In this post, we are going to discuss features for retail business. You need to be aggressive to stay ahead in competition. Along with targeting pain points, you need to meet daily challenges to ensure high level of performance. Here are the top features to look for –
Whether it is your cash or inventory, a POS system must come with features to manage everything in your drawer or stock room. You may want to set up rules to conduct reordering process. Set alerts to know the specific amount of cash you have. These are the important ways to control cash and inventory.
A lot of POS systems are known to provide data. Make sure they also analyze data? Gemini Computers offers some of the most cutting-edge reporting systems which perform smart analysis of product and recommend the best for you. Your POS software can do it for you to make best decisions of your business.
This feature is must have for your business. It conducts integration when it happens. Suppose you are offering t-shirts, you need to keep your stock levels up to date. You won’t have to manage inventory on your own. You can reorder automatically when your inventory reaches the threshold. You won’t want your best-selling products go out of stock. It can easily change the price at POS terminal if you want to do it.
Every consumer prefers a great deal. The system detects customer behavior and helps you provide better communication, give rewards to the most loyal customer base, and offer coupons.
Choose a POS system which can integrate payment processing, property management solutions, accounting and ERP systems in one retail package.
World’s first barcode came into existence on a pack of a chewing gum from Wrigley Company in 1974. Barcodes are now found in virtually every package of item available in stores. A barcode has information which is coded and decoded only by machine named barcode scanners. Businesses use barcodes for different reasons, such as tracking prices, products, and stock levels to perform centralized recording.
2D and linear are two different types of barcodes. The Universal Product Code (UPC) are the most recognizable and linear barcode made of 12-digit UPC number and the barcode itself. The identification number of the manufacturer is the first six digits of barcode. The item number is next five digits and last number is check digit which allows scanner to verify if scanned barcode was correct.
Usually, a linear barcode has any kind of text details. On the other side, 2D barcode is more complex and has more details, such as quantity, price, image and web address. It cannot be scanned by a linear barcode scanner. You need an image scanner to decode the information in 2D barcode.
A lot of barcode scanners have three parts, such as sensor, illumination system, and decoder. Generally, the black and white lines of the barcode are scanned by the barcode by illuminating code using red light which is turned into matching text. The sensor in barcode scanner more specifically detects the light reflected from the red light (the illumination system) and generates analog signal which is sent to the decoder. That signal is interpreted by the decoder which validates barcode with check digit and it is then turned into text.
The scanner delivers this converted text to the software which holds database of the cost, maker, and amount of products which are sold. Barcode scanners have different features according to industry specifications, such as work volume capacity and reading range.
Till date, most of the retail or Quick Service restaurant businesses use cash register to complete financial transactions. But cash registers can be helpful only in in-store needs. Cash register cannot manage several back office functions like payments and receivables, stock and purchase management, and daily store problems. It is the modern and quick billing solution which can solve all such problems at once.
Daily problems faced by stores
1. Managing multiple stores at the same time
2. Very difficult to manage business during rush hours
3. Maintaining receivables and payments because cash register doesn’t have this feature
4. Stock management
5. Problem in delivery and maintaining customer satisfaction
How Billing Software resolves these problems
A billing app builds customer loyalty, manages customers and several stores, checks reports and makes bills, and manages stock, receivables and payables, and accounts.
1. Generates bills in few seconds without stress. You don’t have to bill manually. In addition, you can easily print your bill in few seconds and cut down the waiting period.
2. Improved customer satisfaction. You can ensure on-time delivery, customer loyalty, and discounts.
3. In addition, you can even save more on shrinkage. You can always keep track on your stock and it can be even easier to improve cash flow and materials. It helps in improvement of overall functioning of your business.
4. You can easily generate reports with proper billing system. You are not needed to monitor any important aspect of business on your own. It can do everything and you just need to check reports from it.
All in all, you can fully automate the process in your business in a way to control what’s happening on your business. Again, it is helpful to improve the ROI of your business over time.