Point of Sale (POS) software typically allows merchants to process customer payments at retail locations. However, this group of software does more than just handling retail transactions. Other key functionalities of POS software include inventory control, automatic price updating, recording sales by branch and/or by employees and electronic ordering. Some products even allow you to analyze sales data, calculate taxes on buyers and update product information and accounts receivable records. More advanced features include the ability to identify customer buying habits and the ability to track which products are bringing in the most revenue.