POS stands for point of sale. A point-of-sale or POS software system is what takes place between a merchant and a customer when a product or service is purchase, commonly using a point of sale system to complete the transaction.

A point of sale system is the heart of a business and used for many essential tasks such as inventory management, labor reporting, menu customization, price adjustments, staff management, sales reporting, customer management, marketing initiates, and so much more.  The next time you’re at a restaurant or retail store, ask the clerk what type of system they are using, and you’ll soon learn there are hundreds of different kinds of systems out there.

To dive deeper into the meaning and definition, we are also going to explore the various types of POS systems for sale there are available on the market.