(PDF) The Advantages & Disadvantages of POS
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Added on 2021-06-17
(PDF) The Advantages & Disadvantages of POS
Added on 2021-06-17
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IT FOR BUSINESS
IT FOR BUSINESS 1Table of ContentsIntroduction...........................................................................................................................................2Advantages and disadvantages of point of sale.....................................................................................2POS helps in gaining competitive advantage.........................................................................................3Benefits of using centralised database..................................................................................................3POS system facilities decision making power....................................................................................4POS systems process business activities more effectively.....................................................................4Tracking information through manual methods................................................................................5Type of questions that could be answered........................................................................................5Point of sale helps in managing the business....................................................................................5Telecommunication media for point of sale system..............................................................................6Telecommunication networks...........................................................................................................6Type of telecommunication media....................................................................................................6Risk associated in point of sale system..................................................................................................6Conclusion.............................................................................................................................................8References.............................................................................................................................................9
IT FOR BUSINESS 2IntroductionPoint of sale is the emerging trend in the market. The use of this technology has increased in every field. Point of sale is turned to be very beneficial for business that works atdifferent places. There are various benefits and drawbacks associated with this technology. Inthis report point of sale system has been analysed from different aspects. Along of that need of centralized database system and the risk associated with POS have been discussed briefly.Advantages and disadvantages of point of salePoint of sale system has various advantages and disadvantages associated with it. AdvantageThe major advantages of these systems are:It helps the owners to monitor their sales record at the same time when the product is sold in the market.Point of sale also helps in compiling all the sales history to design better plans.It is beneficial as it helps in updating inventory of sale at instant timeIt stores huge amount of data by consuming small section of memory.It is useful as it supports remote functionality for storing, distributing ad tracking all the important data (Szell, Lambiotte and Thurner, 2010).It is helpful in making decision related to management of sales and removes the confusion in making decisions. It helps the business to operate effectively as it makes all the functions to operate automatically. The detail analysis of a business could be done using point of sale system that helps inunderstanding the market in a précised manner (Szell, Lambiotte and Thurner, 2010).It saves the overall cost and time needed to manage the data packets.It adds up transparency in the network.
IT FOR BUSINESS 3DisadvantagesIf point of sale system is used as software it need to be updated periodically as overallperformance of business is dependent on it. It requires lot of efforts and cost to keep the software up to date.There are high risks of security threats as it stores sensitive data of organisations. If the system is accessed by some unauthorized user it may lead to violation of confidentiality (Tseng, Lee and Tseng, 2015).POS helps in gaining competitive advantageIt is true that point of sale is gaining advantage in the competitive world. They are helpful in business to make decisions in an effective way. The data provided by these systemsare very précised that helps in analysing the business from all perspective and help to design plans so that better growth could be achieved. The detailed information provided helps the business to gain advantage in the market (Lucchi, et. al, 2014). Additionally, point of sale helps in analysing the reason behind the profit to the business so that products and services are provided in the same manner. It also helps the business by providing alerts about shortageof some products that so plan could be modifies accordingly. It is beneficial in term of inventory management as it helps in boosting up the profit of the company by controlling all the possible sources. It is also beneficial for a business as it controls the financial data that is necessary for the business to compete with other competitors (Berezina, et. al, 2016). Benefits of using centralised databaseCentralized database system is a group of all related databases at a single location. It is very useful as it improves the performance of the system and enhances the speed of processing. Centralised database offer many advantages to small firms as well as bigger firms(Jindal, Zhu, Chintagunta and Dhar, 2018). Some of the advantages of centralised database are:The storing all the information at one place it reduces the efforts of updating the database at time of changes and it also reduces the redundancy of data packets.
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