In this technologically advanced scenario, usage of point of sale software is common. The location where the transaction occurs is referred to as the point of sale (POS) or a checkout. The term checkout refers to a POS terminal or the point of sale software used for checkouts to register the equivalent of an electronic cash register. With the technology developing post 1990s, the POS applications have been developed on Windows and Unix Platform. The availability of this flexible point of sale software instantly started to win the hearts of the users and gained acceptability. After 2000, the web based point of sale software started capturing the market. The unique feature of this web based software was that it could be run on any computer having an internet connection and was also supported by a browser. Retail industry turned out as one of the dominant industries frequently using the point of sale software at the terminals. Rise of tourism industry across the globe has been witnessed. To keep this trend witnessing a positive growth, the hospitality industry had to position itself to cater to the expectations of the customers. The advances in technology removed the necessity for maintaining manual records as the information is now available online. The software used in this industry ensures information like room availability, room rent applicable for different types of rooms. The revenues earned with the usage of rooms and details of other regular accounting heads related to other expenses are maintained in detail by the point of sale software used.
The last decade has witnessed a drastic change in the retail industry across the globe. With the extensive usage of plastic cards, completing transactions have become easier. The use of retail management software simplifies the jobs at any retail POS. The usual facilities available at the retail POS simply includes a computer, monitor, cash drawer, receipt printer to name the essential items. The retail management software ensures proper financial records and operation details of the retail store if the relevant records are simply entered. The retailers have to ensure that they are extremely efficient at the POS as the customer time is important. Efficient and quick retail management software reduces the size of the queue quickly resulting in the customer’s convenience. A synopsis of the core business domains like customer relationship management, inventory, accounting and marketing is quickly available. This data enables prompt and quick forecast for the revenue that can be expected. To stay in the business, retails cannot afford to ignore their efficiency. They simply cannot overlook the in-house support that they expect which is extremely vital. The retail management software is uniquely designed and caters to the requirements of all the levels of retail establishment, be it a small retail store or a supermarket. The retail industry domain caters to our basic needs. Customers frequently visit the Supermarkets and Hypermarkets, Convenience stores, Gift stores, Footwear, Apparels, Restaurants, Food courts and Health Club. The necessity of the retail management software exists at all these places for smooth functioning of their operations.