Sherilynn Gomes 1 December - 2 min read
What is a POS system?
A point of sale system, more commonly referred to as POS, is a system that allows businesses to perform transactions such as a sale, return or exchange of goods and services. Depending on whether you have a physical shop, sell online, or both, a point of sale system can range from a basic computer and cash register system to a more versatile iPad-based solution that allows businesses to easily process sales and payments from anywhere in your store or out in the field.
What is POS hardware and how does it all work together?
A point of sale system consists of several components:
Having the right POS system can do wonders for your business processes. It can mean the difference between slow transactions and long queues or quick and easy processes and a better shopping experience.
Ready to implement a better POS system for your business? Download our app and try Spenda free for 30 days.
Chasing late invoice payments is a burden for any business, and still, more than half of B2B payments in Australia continue to be processed late, costing businesses, on average, $115 billion every year.
When you’re running a large operation with hundreds of invoices processed each month, the resources required to manage your payments grow quickly, especially when ageing receivables become a problem. While customers may not pay their invoices for various reasons, it happens too often, causing a range of challenges and increased risk.
Digital payments helped businesses get paid safely and efficiently throughout the COVID-19 lockdowns and associated restrictions. But as economies reopen many challenges still face businesses including supply chain disruptions, the ‘great resignation’, rising inputs such as fuel, and the expense of reopening. These business challenges make now an opportune time to build on the processes optimised throughout the pandemic, especially across B2B trade.
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