Operating a retail store calls for a range of administrative, management and marketing skills. From ensuring that there's enough inventory to putting together monthly sales reports, these skills are necessary in ensuring that your store runs smoothly. In today's digital age, a lack of efficiency can make or break your business. This is why archaic retail technology like the traditional cash register is on its way out. As your business grows, so will the demands of your POS system.

POS software systems streamline retail operations by automating the transaction process and tracking important sales data. Basic systems include an electronic cash register and software to coordinate data collected from daily purchases. Retailers can increase functionality by installing a network of data-capture devices, including card readers and barcode scanners. Depending on the software features, retailers can track pricing accuracy, inventory changes, gross revenue, and sales patterns. Using integrated technology to track data helps retailers catch discrepancies in pricing or cash flow that could lead to profit loss or interrupt sales.

With technology evolving at a breakneck pace, adopting cloud-based point of sale technology ensures that the system you choose today won't become obsolete tomorrow. The advent of cloud-based point of sale means your back of the house operations can now be accessed from any web browser, even if you're halfway around the world on vacation.