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A Comprehensive Comparison Of POS Systems Usage Around the World

03 Jan
A Comprehensive Comparison Of POS Systems Usage Around the World

A Comprehensive Comparison Of POS Systems Usage Around the World

Point of Sales systems is the leading financial utility being used around the world by all small to medium-sized industries. The businessmen where ever they are located, while dealing with customers would really want to have each and every detail of their business on their fingertips, A POS systems can serve the people in this domain by collecting concurrent results of their stock, their sold goods, their current franchise conditions, and their daily sales results as well. Point of Sales systems has now become an integral part of the retail businesses around the world.

Point of Sales systems is being used in all types of businesses and services around the world. It is just that the application and implementation of these systems differ from each other region by region. It is quite evident the way people are getting familiar with this technology, by the way, how nice it is to think, you are going out for shopping, collect your requirements, place all your things on the counter and get your bill paid without the hassle of standing in a queue, all thanks to the rapid and helpful advancements of Point of sales systems.

In our previous blog topic “How Retail Business is The Reason for Success in a Local Market” we discuss the advantages of the retail business in the local market and how brands compete with each other under the dimension of the retail business sector and impact of retail business in the Pakistan market.

POS Systems Application Around the World:

Case studies and articles on the web and many other sources agree upon the fact that the point of sales systems deployed in different businesses, should differ from each other. For example, a point of sales system deployed at a Restaurant is not ideal for a retail business like a plastic manufacturing industry, etc., businessmen should really understand the fact that there must be different Point of sales systems and application for different mode of businesses so, they may not suffer in the long run in the operations of their business.

The Point of sales systems, being used in nearly all the retail business setups around the world, has been set up with a different approach region by region. In this article, we will try to reflect on some points which will help us in understanding the application of Point of sales systems in the leading retail markets in the world (Asia (South & Middle East Asia), Europe, America (the USA & Canada) & Africa).

America (The USA & Canada):

Preferably the biggest economic market in the world, the United States of America and Canada, is the home of new day entrepreneurs and small to medium-sized businesses. The retail industries of this region are the most profitable quarter and prove to be the most productive in terms of its GDP contribution and for producing employment opportunities. According to a knowledgeable source, the retail businesses in the USA & Canada contributed up to 6% to their GDP in 2018. The heart and soul of retail businesses in the USA and Canada is the Point of sales system

. This region has the credit for the discovery of point of sales system technology and its further development as well.

Further, its development includes Cloud-based POS systems, Tally POS, etc.  The people from this region are tech-savvy to the new things implemented for the later use. The POS systems are being used in every type of service in the United States of America. They have different POS systems for different areas of operations for instance if you are in a pharmacy you will find a POS system completely favoring the utilities in a pharmaceutical business, the same goes with the POS systems deployed in Restaurants, retail shops, and manufacturing industries.

Europe:

From throwing the old cash registers to being the torchbearer for the future advancement in the point of sales businesses, Europe played his part in the successful discovery and implementation in the field of point of sale systems. People from the European region like the people from the United States of America, are pretty tech-savvy and welcoming as far as the technology acceptance is concerned, this region holds the credit for the discovery of the very first your cash booking system at France in late 19th century.

Europe also holds the credit of being the region where the point of sale systems industry has evolved at a significant rate, unlike the United States of America, the point of sale systems deployed in various industries somewhat includes the same functionalities, but they do differ in the mode of operations, if you purchase or subscribe to a point of sale services it is up to you to choose the parameters to which you are dealing with, for example, point of sale systems purchase for a retail business in a sanitary Mart can also be used for retail system being used in a utility shop, the only difference is the parameters which you will decide in order to how to use them according to your business needs.

Africa:

Known as the Dark Continent until the early 20th century, Africa is the continent with the least number of developed countries. By having this scenario, we can easily assume the conditions of the retail businesses and local markets there and the brands’ equity as well. The point of sale systems in their retail markets are either outdated or primitive. It’s always very difficult to say anything about a region with countries mostly in the developing stages, but still, the African nations are gaining good grounds, especially in the last decade, they rapidly gain some pace in order to match with the other countries.

For example, you can take the example of Nigeria who is jumping towards the ranks with semi-developed retail markets and major exports, which has given rise to the economy with the sum of 545.5 million dollars. Apart from the central and Eastern African Nations, South Africa, Egypt, Algeria, and Mauritius are some of the well-developed countries with stable market, the implementation and application of point of sale systems in their markets are pretty need-based, you will find point of sale systems being deployed in only the urban regions, the normal cash book method of billing and other stuff will be still found actively operational in various rural areas of Africa.

Asia:

When you talk about the Asian market the first thing that comes to your mind is China, undoubtedly the biggest retail market of Asia is the people’s republic of china, which is the home for big-time entrepreneurs and retail industries. Apart from China, India, Pakistan, Bangladesh are also very active and current markets in South Asia, the retail industry in these countries have their financial bases and workloads being managed by point of sale systems that differ from application to applications.

Especially in the local markets where a lot of points of sale systems and their derivatives, which include the cloud POS systems system Tally pos, emergency Tally POS and others are being used effectively in accordance with their needs. One of the key aspects of this region is the tourism industry which according to research made by the University of Tsinghua, China is heavily dependent upon the cloud-based point of sale systems for their financial backups, the Eastern belt which includes the middle Eastern industry of oil and gas has some great rolling of money which really requires a safe transaction and trusted means of carrying their financial backups so for the same reasons. They are using the cloud-based systems in their industries just to manage the financial aspects and for the sake of security of their financial matters.

Conclusion:

Regardless of the fact wherever it is deployed the point of sale system has some great impact on the businesses it increases the work efficiency moreover its ease of excess and usage has made it the talk of the town with its absolute features of concurrent reporting of the inventory, budgeted,& deposited stuff has made this app a most valued product in a business.

From managing the customer relationship management (CRM) to its online tracking of all the things you have in your inventory, a point of sale systems covers all the financial aspects of your business, with this integrity and trust that the reporting being made through the app is always concurrent and real, although keeping this fact in the minds that there will be some errors in the reporting which may be corrected if found on the spot.

 

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