Retail outlets, restaurants and other fast-paced B2C enterprises share the common business trait of receiving many payments over the course of a day. Sometimes big amounts, sometimes small, but always a high transaction volume and always worth tracking.
Using a point of sale system, or POS, is the way to do this effectively. A POS is the platform by which your customer makes a payment for your product or service. Simply put, every time a customer makes a purchase at your store, they're completing a 'point of sale' transaction.
The POS serves as the central component for your business: it's the hub where everything - such as sales, inventory and customer management - merges.
Reliable POS systems are vital if you're a small business retailer. A good POS system does much more than process customer purchases, it will help boost turnover, save money, simplify staff duties and make you more efficient. It can even improve food hygiene by removing the necessity for staff to handle physical cash.
Many tasks in a retail store or a restaurant can be tedious and resource intensive. With the right point of sale system, you have the ability to simplify your crucial daily business operations.
Today's POS systems do more than just offer flexibility when processing daily transactions, they improve your chances of success by providing tools to streamline processes.
Xero is a leading cloud-based accounting software provider for small- and medium-sized businesses and is used by more than a million users worldwide.
Xero has an open API, this means their 'Application Programming Interface' can be used by other software applications, such as point of sale systems, to integrate with it.
The result of this? A strong partner program by which you can integrate Xero with more than 500 specialised complementary applications such as POS systems, inventory management systems and more, to make your business more efficient.
Whether you're running a retail store, a restaurant or a café, Xero gives you many options to integrate your POS system and save time by reducing manual processes … and save you money by reducing risks.
Choosing a point of sale system that will integrate with your Xero software is not quite as simple as you may think. The choice will depend on what information you want the POS system to send to Xero and how you want to use the data.
Consider which of the following factors relating to modern POS systems maybe relevant to your operations:
If you are still with us after that long list, you can see why you must carefully consider which aspects of a POS-Xero integration you want and need in your business. This consideration process is the first step to finding and choosing a POS system that is going to provide you 'full' integration with Xero.
The good news is that after you have made it through this initial process, the actual work of integration of your POS system with your Xero account is fairly simple. However you approach it, it is an effective way to reduce manual administration tasks and minimise the risk of human error in data management.
Once the systems are fully integrated, the upside is enormous. The financial insights alone will help you make better business decisions and, therefore, help your business become more profitable.
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