Difference Between Cash Registers and POS Systems: Which is Right for Your Business? 31Dec
Epos , point of sale system , EPOS System , epos system

Difference Between Cash Registers and POS Systems: Which is Right for Your Business?

Managing a business can’t be efficient without the right tool that suit your needs and cater your profitability.

Both cash registers and POS systems can be considered as options to handle sales transactions. Both the tools can be used for payments & sales, however, their capabilities and costs can vary significantly.

Hello and welcome back to EPOS Direct. We’re back again with another informational blog.

Stick around till the end because this one will surely help you figure out which among the two tools suits the best for your business.

Let’s begin!

What Is a Cash Register?

Cash register as the words suggests is an electronic tool to store cash & calculate sales. Many confuse cash register with a simple register (hardbook), but as you now know it is an electronic device.


It offers functionalities like:
• Adding Sales
• Securely Storing Money in Cash Drawer
• Receipt Printing

The modern versions come with digital displays along with the above features. The cash registered are basic and are designed for simple transactions for small businesses with minimal needs.

What Is a POS System?

POS or Point of Sale System is an advanced version of cash registers except, it has much more to offer than just sales processing.

Cloud based modern POS system offer remote access to your data, which means you only need an internet connection and you can access and manage your data from anywhere.

POS systems come with screens, cash drawers, thermal printers, payment terminals and a tailored software according to your business needs. A POS system offers;

• CRM (Customer Relation Management)
• Sales Reporting
• Sales Tracking
• Employee Management
• Online Store Integration

Cash Registers and POS Systems: Key Features

1. Features and Abilities

POS systems: For sales, inventory, and customer data, POS systems provide a comprehensive solution.

Cash Registers: These devices carry out routine operations like adding up amounts and keeping track of money.

2. Easy Access

POS systems may need some initial training, but they are simple to use thanks to their intuitive interfaces, particularly touch screen systems.

Cash Registers: With their basic features that require little training, cash registers are comparatively easy to use.

3. The Ability to Scale

POS Systems: These systems are designed to expand together with your company. Adding additional locations, staff, or inventory items is simple. Managing online and in-store sales from a single platform is made easier by the connectivity that many systems offer with e-commerce platforms.

Cash Registers: As a company grows, cash registers, do not scale well. You will probably require more or better cash registers if you open new sites or increase the variety of products you offer.

4. Pricing
POS Systems: POS systems require a larger initial outlay of funds, often £249 for a full setup (as provided by EPOS Direct), in addition to monthly software subscription fees. Nonetheless, their sophisticated features and time-saving benefits frequently translate into long-term cost effectiveness.

Cash Registers: Cash registers are typically more affordable upfront, with prices ranging from £100 to £500 for basic models. However, their limited features may result in hidden costs, such as manual inventory tracking and additional labor.

5. Analytical Reporting

POS System: Best-selling items, sales patterns, peak business hours, and other information are all included in the comprehensive reports that POS systems produce.

Cash Registers: Only simple sales totals and daily summaries are available for reporting. You will have to track data manually if you want more in-depth information.

6. Modes of Payment

POS Systems: POS systems are set up to take a number of payment options, such as contactless payments, digital wallets, etc.

Cash Registers: Conventional cash registers do not accept contemporary payment methods.

Which One Should You Choose?

The choice between a cash register and a POS system depends on your business size, budget, and growth plans:

When to Choose a Cash Register:
Cash registers can be a choice if your business has minimal inventory, you mostly deal in cash and your budget is tight.
 
When to Choose a POS System:
POS systems can be chosen if you need all the advanced features like sales analysis, inventory tracking, employee management and other features. Also if you have customers who prefer various online payment methods, you should opt for a POS system.

EPOS Direct: Why Opt for It?

We at EPOS Direct are aware that every company is different. For this reason, our customized POS solutions start at just £249. Among the items in our bundle is -

• A Stylish touch screen till system
• Cash Drawer
Thermal Printer
• Payment Terminal
EPOS Software

Concluding Remarks

For small, simple companies, cash registers could be sufficient, but POS systems offer the flexibility, efficiency, and insights required to propel corporate expansion.
Your unique demands will ultimately determine which option is best for you, but as businesses grow, POS systems' versatility and usefulness frequently make them the better long-term investment.