POS or “Point of Sale” software has revolutionized inventory control. A point of sale system is essentially a computer being used as a cash register. The point of sale is the location where a monetary transaction occurs between a business and its customers. There are different kinds of POS software out there and choosing the right one for your small business can make a big difference.

In terms of inventory control, POS software allows business owners to keep track of the exact amount of stock that they have in their inventory. This limits wasted man hours counting and re-counting stock at the end of a business week. It also allows business owners to know when their product inventory is running low so that they can order more before they run out.

At the end of a business week, the POS software can be used to upload all data from the week to an online inventory management system. From here, the data can be analyzed to see which products are selling particularly well (possibly due to discounts/promotions) and what products aren’t.

The real beauty of point of sale software is that the business owner doesn’t even need to be present in their business location to access the information. They can log on the online inventory management system in order to analyze business data that can help them to run their business more effectively and efficiently.

Point of sale software is particularly useful in restaurants, fast-food outlets and all different kinds or retail outlets. There are even some POS systems that communicate with a company’s accounting software to further help.

The benefits of POS software stretch from inventory control and inventory management to being able to make intelligent and informed business decisions based on real-time data. There are even further benefits if you use cloud inventory control software.