Inventory split is one of the key features of the Point Of Sale system. A Point of Sale (POS) is a place and solution that is used to make payment against the use of services or product sold by a consumer to the merchant. Adding more it is the spot where a retail transaction takes place most.
“According to the CAGR survey, the global POS terminals market recorded for USD 62.34 billion in 2018 and is expected to register 7.8% from 2019 to 2025.”
Some Point of Sale system is often called the “Retail Management System“. Point of Sale includes functions such as inventory management, supplier record, and issue of sale orders and many more.
However, it is known as, “POS system” rather than “Retail Management System”.
Why It’s Important to Move Towards Point Of Sale System?
Denying POS being a retailer will leave behind in the world with the old method of printed receipts, late-night inventory checks, and calculators. In this 21st century, POS system empowers the retailers with the capability to bring the organization into power and keeps the balls rolling.
POS helps you in making a business decision quick that support you in getting data on inventory, your sale, your customers. Your business becomes automated and runs accurately also becomes one of the leading business brands in your industry once your sales are computerized.
With the increase in population, there are experienced an automatic increase in demand in retail business and also increase in patients in the hospital where services and products are exchanged against the economic term that is CASH.
Every buy and sell transaction is important for any business and without POS it is very difficult to maintain cash transactions.
Point of sale will save you your money, your time, and will also help you manage and keep a record of your daily sales. POS is all computer-based software that makes the process automated, fast and easy.
Get perfection in your sales record by using the scanning feature of POS as it is not possible for a salesperson to remember the cost and quantity of an item sold.
Efficiency and Productivity
POS system helps to do repetitive paper works, recheck of inventory physically. All inventory data will be updated in the system automatically that will lead to an increase in productivity and efficiency.
POS system speeds up the check-in and check-out process, less time-consuming. Sales guy or receptionist can complete their order with ease and rapid. POS is so smart that will collect all your customer data, which later can be used to benefit any of the best customers with extra benefits or discount in the future to get your customer satisfied.
POS makes you potential in making your business decision healthy and quick as it gives all the data about your inventory, sale, customer, cash and card transaction through which you can easily analyze the growth of your business.
Combination of laravel website and retail POS integration was not much in trend before 10 to 15 years among the small and big sized ecommerce business owners.
Today, the time and trend demands all retail store owners should have POS integrated with their website and if the website is developed in laravel, integrating Bagisto POS system within is the only best option for you to take your business to the next level.
Let me show you how pos software has accounted growth in past years and is consistently growing.
Growth Rate of Point Of Sale
The World, especially Asia pacific has recorded the largest regional share in the global POS market. Key factors driving the exceptional growth are Asia pacific governments are focusing on digitalizing and building cashless economy. Developed and developing countries both are investing heavily in the eCommerce industry that needs a secure payment solution that is infusing growth on the market of POS systems.
“According to the study of Heraldkeeper via COMTEX, it is estimated that 15.7%+ CAGR growth for point of sale system market size to 2024 in terms of revenue. The current market size is US$ 6410 million which will reach to US$ 15300 million by 2024. This report presents the global report.”
A good Point of sale system works both ways online and offline that includes sale, inventory, stock counting, vendor ordering, customer loyalty, reporting modules, computer, monitor, cash drawer, receipt printer, customer display, and a barcode scanner and debit/credit card, reader.
Magento POS is a well-designed platform for those who are new to eCommerce but is costly and complicated for a new user to understand.
WooCommerce POS is the best choice but is limited only with WordPress and cannot be used without it. There are several other POS available but getting the affordable, easy to use and revenue-generating system is also a point. Your choice depends on what you want from your POS System.
Laravel eCommerce Point of Sale
Laravel with advanced features compared to other frameworks, it also has exceptional features like durability, convenient, and reliable that attracts developers and industries towards laravel.
MVC architecture separates the application into three-part Model, View, and Controller (MVC). Adopting MVC, it eases front end backend developers work splitting roles in your project, structurally ‘a-okay’, responsibility isolation, full control of application URLs, eases writing code.
Laravel is an open-source that allows any third party integrity to make your project automated. It has also covered to create a true laravel eCommerce framework Bagisto.
Bagisto POS – Check out Live demo
Bagisto is an open-source E-commerce platform built on top of Laravel and Vue.js by Webkul. It’s an eCommerce ecosystem designed for all to build and increase your business. It’s a free and open-source framework that helps you managing and controlling your entire store.
What Are The Key Factors For Laravel POS?
At the Point Of Sale(POS), Customer purchases the goods and services. Later on, the retailer prepares an invoice for the purchase and provides an option to make the payment.
We usually understand POS as the payment solution, but Nowadays, we can see the different example of Point Of Sale(POS) around us. A point of sale is the combination of the POS software and a POS terminal that provides services like billing and order processing, sales monitoring and reporting, handling transactions, inventory management, employee management, and customer loyalty programs and much more.
Along with the online payment solution, Point Of Sale terminal is also relevant for the offline retail shops which handle all the retail transaction. We can see a different example of POS near us from which some are explained below.
A Retail POS system is one-stop exceptional POS software that helps retail businesses to automate and manage all operations. In a retail business, POS is mainly used to manage sales.
Retail POS includes a computer monitor, receipt printer, barcode scanner, and debit/credit card reader to manage the cash register.
Along with the above feature, the retail point of sale System also handles other functions like inventory control, real-time data synchronizing, and purchasing, receiving and transferring products from other locations.
POS is the lifeline for restaurants as it has eased the workload of restaurant owner and management. Earlier it was difficult to manage multiple customers and serve them with their respective ordered dish.
A restaurant POS is now used to prepare orders, alert order in the kitchen to chef maintains the payment that has eased in doing restaurant business. Restaurant POS manages stock control, reporting & analytics, and customer relationship management.
Grocery store POS system helps the merchants in POWERFUL STOCK CONTROL, INCREASED CHECKOUT SPEED, AND FLEXIBILITY. It also helps in maintaining the record of the goods, payments, and keep the employee record.
Grocery products are often perishable and do have a very different life cycle, grocery POS provides high-quality speedy service to deliver the product fresh to your customer.
Computer systems and software is what Grocery POS is made up of that eases the process tracks transactions, credit/debit card readers, and other peripheral devices like a cash drawer.
Having grocery POS in your store, it will help you in tracking and managing all records of the customer including goods and sold items.
Fashion store POS helps the retailers reducing manufacturing lead times, simplify forecasting with all in one fashion retail software solution.
Fashion store POS hold down the inventories, customers, order, and payment. A fashion POS allows integrating the online payment, E-wallets, and credit/ debit card.
A retailer can manage employee record, product record and can update the products along with predictive analytics and customer buying behavior tracking.
POS is a common solution for all stores, yet every store has its own business, services or products that they offer or sell. POS with a specific name relevant to the specific industry comes with advances specific feature for that particular business.
A Salon POS System with common features of payment processing, customer information, inventory and sales it includes salon oriented specific features that helps you manage a salon, spa or other wellness business.
The retailer can work in the offline mode includes sales and purchase order generation marketing, product management, data can be updated once the device is connected with the internet.
POS plays a vital role to run the business smoothly using the offline mode where the data gets saved locally that helps in increasing eCommerce business both online and offline.
Example: transaction can be performed and POS can be used offline when it’s not connected to the internet or wifi, offline POS has a local data storage where is saves all buy and sell record which later gets updated and synced once connected with the system and internet.
Why Laravel Inventory Split Is Required For POS?
With the deep study and practical experience, I have come to know that every modern framework excluding Laravel platforms are single warehouse single inventory system.
Laravel helps multi-source inventory that helps the trader to manage and track their inventory from each split inventory.
Scope of inventory split
Ecommerce is expanding at a constant rate and with the new rule, it will cost more for longer distant delivery and also price will be decided on the weight of the product.
By utilizing multiple warehouses at multiple cities you can lower shipping cost, adding more, you can add only your most popular best selling products that sold out quickly without consuming warehouse space.
Multi warehouse and multi inventory systems allow the retailer to track and manage the products into this inventory with the eCommerce Inventory Split.
Most of the modern framework does not support multiple inventories than Bagisto comes in with the feature of multi-inventory that is what Laravel is known for.
Let me go through an example for you.
Imagine, James is running an online shop at — jamesfashion.com Also, he has a grocery store at another location. Having inventory split system James will easily be able to manage all activity of both the stores from his desired location.
Why Bagisto POS system is popular?
As explained above, every modern framework excluding Laravel is a single warehouse single inventory system. Laravel comes with MVC, Bagisto that supports inventory split system that enriches the POS development with advanced features and speedy performance.
POS with Laravel linked with Bagisto facilitates seller to manage their online store and offline store at the same time. The receptionist will have the POS front-end management system.
- Store agent can easily manage daily sales
- Customer behavior and data can be managed
- Bagisto POS extension supports both offline and online transaction
- Stores data when POS is offline
- Can easily update the data synchronizing when gong online
You will be redirected to the POS panel after signing in the POS system.
Strong Inventory Management
Laravel is popular as it is open to link with third-party software to make the POS system enrich and user-friendly. Laravel has a Bagisto with MVC that provides a strong inventory management feature.
Earlier in the traditional method, the retailer has to monitor and manage their product stock regularly on a single inventory system which is a lengthy and time-consuming process.
Getting linked Bagisto in laravel for POS software development; every merchant can have multiple inventory sources that will help in faster service, managing all data of sales and customer, managing their inventory in a good manner.
However, though we are talking about inventory split, In POS Inventory is Centralised.
The centralized inventory will support any changes done on the website will be updated and reflected in the POS end and vice versa.
Illustrating the same as, if the online stock of the product is 500, record on all the POS outlet will be the same i.e 500 and the stock will automatically be updated with the decrease or sale of the online stock or the POS outlet accordingly.
Better Payment Option
Laravel eCommerce Point of Sale system works both ways offline and online and will accept the Cash or Card payment. POS agent will be able to complete his transaction via cash or card.
POS is more known for its online features and performance where the other reason for its popularity is and success is its offline mode where the user easily manages his sales activity at the time of poor connectivity.
POS is designed in such a way that has local storage in it that saves all data of sales and customer which ultimately can be transferred or updated whenever going online.
There are some points that user need to keep in mind when using POS offline.
- POS user cannot apply the discount in offline mode
- POS user can place an order in offline mode
- POS user can check their sales history; hold sales, offline sales from their panel
- POS user can synchronize and update the data with the online store whenever going online
- Offline data is saved locally within the POS and gets automatically synced whenever the system gets connected to the internet
- POS extension is designed and developed that allows the admin to open and control several POS outlets from their POS back-end.
- Laravel supports PWA based architecture. Bagisto provides an advanced feature like routing, state management, and build tooling.
- PWA is most preferred by the users and merchants as it delivers fast, pleasant and reliable mobile web experience Furthermore, it works even when the user is offline or performing unstable work.
Laravel Multi Channel E-Commerce Selling
We all know we see one product sold at various channels like Amazon, eBay, and Alibaba. Laravel Multichannel e-commerce selling supports far more features than just of Inventory split to point of sale.
It is simple as being stable at one place does not give growth, same way sales can be increased by selling a product on multiple channels that will help you become a brand. You can integrate multiple channels to sell the product in Bagisto.
Bagisto makes easy to create multiple inventory source for each channel to easily track the products, goods stock, and data.
If you are confused to decide the best POS solution in your laravel website to ease and grow your business and if youare still not sure if you need a POS in order to run your eCommerce business with your Laravel website more successfully?
If you have a whole new plan and budget for building an ecommerce website but confused on which platform you should get it built on? You should definitely look for Laravel Development Company to help you integrate your Laravel website with an ERP system.
There are several POS system that can be integrated with your Laravel website which are mentioned below.
- Gain POS
- LivelyCart PRO
- Simple sales – Inventory System & POS
- Easy POS and Restaurant Solution with Hold Tables
- SaaS &Superadmin Module for UltimatePOS– Advance
- POS BUTTON | Restaurant & POS management system
- UltimatePOS to WooCommerce Addon (With SaaS compatible)
- xPOS – Multi purpose Point of Sale in PHP
- Appointo – Booking Management System
- SuperPOS – Multi Outlet Point Of Sale
- POSbuilder – Multi Vendor POS Builder CMS
Are you confused which pos is the best for your business? Don’t worry, We will help you to choose the best POS system for your Laravel website?
Feel free to contact us, we will help you ease and improve your business processes!