Not only do thousands of consumers use Credit Card Forum every month, but so do many business owners whom are seeking advice regarding their point-of-sale management. This is no easy task – a business must keep track of customer payments made through cards, cash, checks, and e-checks, and how those transactions correlate to inventories. This can be a headache if your business doesn’t have the right POS system. This is further complicated if you have multiple locations and inventory to manage.
Fortunately, there are some great point of sale software solutions out there to help a business juggle inventory and payments, including credit card processing. This type of software basically operates like an electronic cash register and inventory management system.
IBM came out with the very first POS system; its limited functionality would be considered primitive by today’s standards.. Dillard’s department stores were one of the first major retailers to adapt this technology a year later. Like all technology, over the yeas these systems have greatly evolved. The biggest breakthrough came in ’95 when a company called Run It pioneered online a point of sale system which operated in real-time. Surprisingly, even though they are one of the biggest in the industry, they specifically cater to smaller businesses… independent specialty retailers, whether they have one location or one hundred stores. The best part of their system is it is entirely online based (no software to install) and allows for the merchant to keep track of credit card processing online.
Why is real-time POS tracking important?
With merchant credit card fraud on the rise, it’s important for businesses to track their inventory (including shipping) together with their payments in real-time. By doing so, retailers are far more likely to catch identity theft before the goods have been shipped. So whatever POS system your company uses, make sure to have one with real-time monitoring (preferably web-based) so you can protect yourself. If you use the search function on Credit Card Forum’s homepage, you can find a lot more useful information for business owners related to this.