The term “point-of-sale” has traditionally meant the cash register — the place in a store where customers purchase goods. But new business models and emerging technologies are redefining the nature of retail, and by extension, retail POS software. The global market for retail automation is projected to reach $275 billion in the next five years, reflecting a compound annual growth rate of 16.7 percent. As retail management software and POS tools continue to evolve, buyers will likely fall into two main categories:
New or growing businesses that don’t have a centralized tool for processing transactions, managing inventory, etc.
Established businesses that already use point of sale software, but aren’t happy with their current product due to inefficiencies, limited access, or performance issues.