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Point of Sale - a key cashless component

A robust cashless point of sale system is a key component of any cashless campus system, acting as a fully integrated stock, debtor and creditor management solution.

A robust cashless point of sale system is a key component of any cashless campus system, acting as a fully integrated stock, debtor and creditor management solution. It should be feature rich, yet easy to use and utilise the most up to date touch screen POS terminals and retail hardware, which can be tailored to your specific requirements.

The iPOS system can be deployed at all key points of sale including (but not limited to!) Canteens and other food outlets to facilitate cashless catering and Free Meal management, libraries for fines and fees, bookshops and other retail outlets such as art supply shops or leisure facilities.

Purchases are charged to student/staff ID Card,utilising a central account, such as our transaction management system, Supervisor Net. Authentication can also be by ID number (possibly as a secondary method for enhanced security) or via a biometric reader. Further photo identification can also be added as the ultimate security check. Account balances are checked ahead of purchase or can be cached should you system be offline. Both the user and organisation can track spending via an online web portal or powerful management reports respectively.

For an organisation user’s, be they staff or students, the benefits are clear to see; service times are speeded up and efficiency is maintained. Invoices and receipts can be issued by department, to customers or parents quickly and simply. User spending can be tracked via an online web portal, where funds can also be added, revalue kiosks can also be used for this if needed. Staff and students are no longer reliant on cash so on campus spend is easy and will likely increase. Bullying and theft is also much reduced in a cashless environment. Those who qualify for free meals are discretely identified, so that student’s self-worth is improved.

There are also huge benefits for the organisation as well! Improved stock management and control, easier purchase order and supplier returns processes can be put in place and maintained with little effort. Stock taking and stock adjustments are simplified. Barcodes can be read and printed if needed. Incentive and loyalty schemes can be supported and daily offers put in place quickly as needed. Specifically for cashless catering environments table numbers can be managed along with an option for direct kitchen printing. Pre-ordering (click and collect) can also be deployed, especially useful for busy staff. Comprehensive reporting allows accurate management information to be obtained and used to improve services and effectively manage stock and budgets.

As will all elements of a cashless campus, POS reduces cash handling and security is therefore improved. Transaction costs are reduced as funds are held by the organisation, this also improves the organisations cash flow and interest earned at the bank.

If you would like to know more about MonitorIT’s iPOS solution please visit our website or call 01494 565066 to speak to us, we will happily answer any questions you have about cashless environments and how to get started or improve what you currently have.

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