Cloud-based points of sale systems offer numerous benefits over the traditionally hardwired point of sale (POS) systems. One of these benefits is the reduction of cost of doing business, especially among small enterprise owners.
POS system software is evolving at a rapid pace. In fact, a POS Software Trends Report by Hospitality Technology revealed that over 60% of business people want their POS system to be cloud-based. It is likely you have noted that you can rarely see cash registers nowadays. The brick and mortar vendors of today prefer systems that work on tablets and smartphones rather than traditional systems.
However, it is not just retailers who have shown interest in innovative cloud-based POS systems. E-commerce merchants are increasingly using these easy-to-use and less-expensive systems to sell their wares at craft fairs, trade shows, and farmers markets.
What is Cloud-based POS Software?
This software is the latest evolution of POS software and has gained popularity since its inception. The software can be accessed from the web directly and is compatible with POS hardware such as cash register drawers, printers, etc. In addition to costing much less than the traditional point of sales systems, cloud-based POS software is more convenient since it can be accessed from anywhere as long as there is an internet connection.
What are the benefits of cloud-based POS Software?
Low Investment Costs
Traditional systems had to be purchased and physically installed on each device in the restaurant. For most businesses, these are massive upfront costs that can be out of reach for them. Additionally, one had to purchase multiple licenses as well as new software every time an update came out. With cloud-based software, however, you only have to pay a small monthly fee that is not a locked-in contract. Additionally, software updates are free.
For enterprises that rely on stock such as hospitality or retail, it is imperative that you are aware of your most popular goods, the current stock levels, and the profit margins of each product. A cloud-based system allows you 24/7 access to all the data you need in real-time. This will make ordering an easy task as well as ensuring that you will never run out of your most popular wares.
Another drawback of the traditional POS systems is their bulky nature. This can take away from the ambiance of a place especially if the place is funky. Cloud-based POS systems, however, can be installed onto an Android or iPad tablet that will look more appealing on the countertop. Additionally, they can also be taken to the guests to take orders.
The next best thing about cloud-based POS software is its ability to integrate with another add-on software. This means you can link to other applications to help complete purchases done via electronic payment, thereby eliminating the need for manual entry.
The value of POS system software cannot be overstated. Nevertheless, POS systems have taken decades to evolve to their current levels of functionality, reliability, and scalability. And with the affordable nature of cloud-based POS software, there is no reason to be left behind and not take advantage of its benefits. A good system ensures that you stay in control of your venture, and ahead of your competition.