One of the most profitable businesses nowadays is POS. As per the stats collected by ConnectPOS, the global POS system market will reach $29.09 billion by 2025. Further, you will be surprised to know that almost every business uses POS in their Operation. For instance, a cafe, confectionery, general store, or giants like Walmart, Target, etc.
But the question is what is Odoo, what is a POS, and How Odoo is the Best Choice For POS?
What is a POS?
POS or Point of Sale or Point of Purchase (POP as a retailer likes to call it) is a place where customers pay the bill for the goods or services and the point where sales tax becomes payable. Further, the POS permits your business to get payments from customers and keep track of the sales.
Most importantly, a POS system works online and offline. Additionally, the system automatically calculates the discount or tax levied on a product and posts all order entries in the books for record-keeping and tracking.
Earlier, POS systems used to be offline and had limited use. But, due to technological advancements, POS is now internet-based, and even Cloud-based POS is also available.
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Top 5 Types of POS
There are hundreds of POS systems available in the market, but most business owners prefer the system that best suits their business.
Here we will discuss POS types based on technology. Based on technology, POS can be categorized as follows:
1. On-Premises POS System
On-Site POS or a Legacy POS or Traditional POS or On-Premises POS System is the oldest type of POS system. Moreover, this POS system includes both a hardware and software system.
Their server is a local system present at a physical location, and you can not access them remotely. Also, these POS don’t get any software updates or customer support.
2. Cloud-Based POS System
Cloud-Based POS systems or Web POS systems enjoy the benefits of traditional POS but with the advantage of internet and cloud storage. You can access these POS systems remotely as the software is installed on the cloud.
These POS systems have two advantages over the Legacy POS; firstly, they receive continuous updates; secondly, they cost less than an on-site POS system.
3. Mobile POS System
As the name suggests, these POS runs on mobile phones. They also use a cloud to store data and enjoy most of the benefits of a Cloud-Based POS system. You can readily operate these POS on Android or iOS devices.
Mobile POS systems are getting popular, and as per data collected by Statista, the annual growth of mobile POS is 19.73%. And this is one of the cheapest POS systems available in the market.
4. Self Service Kiosks
Self Service Kiosks are one of the POS systems that are gaining popularity at a fast pace. These systems require the maximum participation of customers as they are the ones who have to operate.
Due to rapid technological development, traditional POS systems can be converted into self-service Kiosks. And they can do it with minimal effort and resources. Hence, they are a good option for those business owners who want to upgrade their Legacy POS.
5. All-In-One POS System
All-in-One POS systems or One-Stop POS systems are fully packed advanced, future-oriented POS systems designed for today’s customers. These POS systems are fast, reliable, and consummate.
All-in-One POS systems are cost-efficient and are bundled together according to the business needs. And its ergonomic design is best suited for small businesses.
Now, you have a clear picture of POS in your head, so let’s move on to the other important part Odoo.
What is Odoo?
Founded in 2005, Odoo or formerly OpenERP is an open-source business app that covers all your business needs like Accounts, HRM, Point of Sale, Project management, Inventory, eCommerce, and much more.
Moreover, Odoo has hundreds of functionalities and integration that make your business process smoother, cost-efficient, impeccable, and makes the process effective and efficient. Apart from that, Odoo also offers its cloud service known as Odoo.sh.
Further, Odoo services are available for both; community and enterprise. In addition, Odoo offers different app integration (Both self-reliant and third party) custom build as per the business need. Some of the essential characteristics of Odoo are flexibility, reliability, and customization.
5 Benefits of Odoo
Odoo has a lot to offer, and it is very tough to list all its benefits in an article. Still, here we will mention some of Odoo’s crucial benefits, so let’s get on with the listing part.
One of the main benefits of Odoo is that it’s fully customizable. You can get it customized as per your business requirement in this competitive world. And customization makes it suitable for any small, medium, or large business.
Webkul offers you hundreds of apps specifically designed as per the need of different businesses. You can get any Odoo Apps further customized as per your business requirement.
Odoo Community is an open-source platform that means you can download its source code and customize it according to your requirement. In addition, you can customize the ERP solution without any trouble.
Webkul provides you with ERP, Point of Sale, eCommerce, and much more solutions built by keeping your business’s various requirements in mind.
3. Easy Integration
Another benefit of Odoo is its integration means you can easily integrate it with other ERP solutions or any other third-party app or software. Most importantly, it helps improve the efficiency of your business.
Webkul is one of the leading Multi-Channel Connectors and Bridges providers having more than 100+ apps that let you connect various prominent software and services with your Odoo. One of the most used Odoo connectors is Odoo Bridge For Magento.
4. Odoo Studio
Another main benefit of Odoo is its Odoo Studio. You can easily create your Odoo application using it. Moreover, you can add, remove, and edit screens without complication. Along with that, with Odoo Studio, you can create compelling reports.
Webkul offers its customization service where you can get any Odoo apps customized easily at reasonable rates.
5. Flexible & Responsive
You can measure Odoo’s flexibility by the number of apps it offers. Odoo has 10000+ third-party apps listed on its Odoo Apps store. And Odoo is fully responsive to mobiles, tablets, and PCs/Laptops, so you can easily use it on any device effortlessly. Webkul offers multiple fully responsive theme designs for your Odoo Marketplace, eCommerce, backend, and POS, so you can optimize your business to resemble your idea and vision.
How Odoo is the Best Choice for POS?
Now, lets me tell you how Odoo is the best choice for POS? And for knowing that, we will highlight some of the main features of POS and how Odoo got it all covered.
5 Key Features of Point of Sale
Like any other software, Point of Sale has many features, but we will only cover the 5 key features of POS and how wonderfully Odoo covers all of them.
1. Payment Processing
A vital part of any POS system is payment processing means how swiftly, efficiently, and accurately it processes payment so the customer can check out quickly and complete the purchase. Further, time is money means quicker sales lead to higher sales volume.
To make payment processing convenient, we have multiple Odoo POS modules that ease the payment process and let customers complete the purchase efficiently and effortlessly.
2. Entering Data
Continuously operating POS entering products and customer data is a difficult task. To make things easier, you import data en masse. This helps you locate products and customers without any difficulty.
In Odoo POS, you can import data, create products, and customers. Not only that, you can segregate the products in multiple categories as per your requirement. Further, our apps help make your POS operation smooth and reliable.
3. Inventory Management
For any POS business, inventory management is quite essential. POS systems have to manage in-store and sold stock, so you know the exact quantity of all the products. Also, these systems keep track of each product and its variant with a serial number.
Odoo POS offers multiple such apps that help you manage your inventory and product stock along with their variants. Further, Odoo lets you can double validate the stocks.
4. Sales Reporting
POS system should also generate sales reports, so you are attuned to the sales volume and earnings. These reports help you make business decisions and help improve your sales and profits.
At Webkul, we have apps that enable you to view reports and understand your business position so you can take the best division.
5. Customer Relationship Management
Customer Relationship Management or CRM helps you understand what the customer has bought and when. This knowledge will assist you in making personalized decisions relating to marketing, communication, and customer services.
At Webkul, we have multiple CRM Solutions for your business. Moreover, you can use them to understand the customers better.
Not only these, but Odoo POS offers many other advanced features that will help your business boom. In addition, Odoo apps will further extend your Odoo POS functionalities to new boundaries and make Odoo the best choice for POS.
Odoo POS is a handy, reliable, and convenient system. And its potential is only limited by the owner’s vision and capability. Moreover, its addons help you extend the POS boundaries making it the best choice for POS.
Now, you get the idea of who Odoo is the best choice for POS, and if you still have any doubt, please feel free to share your feedback in the comment below.
Besides, if you have any doubt about any of our apps, please Create A Ticket Here.
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