Setting up a retail business today can be a daunting proposition for any entrepreneur. Chief among your concerns is finding a point of sale (POS) that meets your needs without breaking the bank. A point of sale is simply the exact time and place at which a buyer makes a payment in exchange for a good or service. Cash may be exchanged or a credit or debit card exchanged at POS, and all these are still targeted by criminals.
Today’s POS systems or softwares come with a myriad of add-on costs: you have to buy the monitor, scanner, printer, generator/UPS (for backup power), and pay 2 separate licenses: one for the POS and another for the accounting system (ERP) that stores these transactions. In this feature, we took a look at SBI‘s MYPOS system which is proving to be an effective way to help you sell your product
MYPOS: a mobile point of sale for retailers that combines form and functionality, at a fraction of the price of the traditional POS systems. MYPOS is an app for your Android phone which is currently being deployed from their website, that turns it into a POS with the following features that help you;
- Integrated to MYAccounts™ ERP so you have one license for both ERP and POS as opposed to paying for two separate licenses = SAVINGS
- Have unlimited number of users
- No need for costly networking
- Mobile Money enabled (receive customer payments via mobile money with immediate reconciliation, while reducing the lengthy mobile money menu to just one step)
- Save space with an App that’s only 1.18mb
- Can work without electricity, no need for generator/UPS
- Robust build can take the rough and tumble of the field and shop counter
- Print receipts on the fly and have your documents backed up online automatically
- Access inventory and sales reports in real time
While challenges of Retail Point Of Sale systems remain predominant for many business owners, MYPOS being a point of sale with enabled mobile payments, and analytics makes for a simple yet powerful application. SBI have trained a number of CPAs on how to use MYAccounts and MYPOS and in this way are able to provide support to all customers. More information and help can be got by contacting SBI group at firstname.lastname@example.org or 0392000258.