Modern POS systems include a variety of features that help you manage your day-to-day business operations. Features vary by product, but here are some of the most common POS system features: Payment processing: This is the hardware and software required to accept customer payments. Your POS system may include terminals, credit card readers, barcode scanners, cash drawers, and online ecommerce platforms. Accounting and payroll: Your POS system may include accounting services or integrate with third-party software like QuickBooks. Manage your costs, revenues, invoices, and payroll to keep track of your business and find opportunities to improve profits. Inventory management: Many POS systems help you keep track of your product inventory, allowing you to enter specific details about each item you sell and track your product receiving, sales, and shipping. Employee management: Employees can clock in, process payments, and enter product and customer information with these features. And you can track staff schedules, productivity, sales activity, and more. Reporting and analytics: Gain valuable insights into your business with reporting and analytic features. Dashboards give you a bird’s-eye look at important information, including sales, inventory, and revenue data. Or dive into the details with sales summaries and historical comparisons with more advanced, real-time reporting features. Customer relationship management (CRM): CRM features let you store information about customers to understand them better. Manage customer loyalty programs, offer discounts and gift cards, or create promotional campaigns to turn one-time customers into advocates for your business.