Written by Jodie Pride
7th July 2015 • 4 min read
Cloud-based point of sale systems are becoming increasingly popular, especially among smaller retailers. They are usually less expensive than traditional POS systems and can be more convenient for retailers because they can access their customers’ data from anywhere, providing they can connect to the internet.
You can run a cloud-based POS system from any tablet or mobile device, which means you have a wealth of live sales data available a few taps away. You can view sales statistics and reports in real time, access information on your inventory, manage your orders and take payments all from one device.
Your POS provider will ensure that you’re on of the latest updates, new technologies, security requirements and so on for the next couple of years. This is great because you don’t have to worry about purchasing a new till, downloading any time-consuming upgrades, or installing the latest security features as these are all dealt with remotely – there’s no worry about downtime or management costs, or running out of space for data.
The beauty of any cloud-based software is that you can take it virtually anywhere with you. Relying on a small and portable device is great if you frequently attend trade shows and farmers markets, or if you want to create a pop-up store. It’s even handy to be able to transport your POS system around your brick-and-mortar store. There’s no way you would be able to do that with a traditional till set-up, so having a cloud based POS system can be a lot more convenient because merchants can access customer data from anywhere as long as they are connected to the internet.
Because everything is stored online, the risk of data loss via corruption and virus attacks is greatly reduced. Additionally, the cost of installing system drivers on hardwired POS systems plus the loss of revenue in the downtime can be avoided.
Another big risk for businesses is credit card fraud. Major credit companies are expected to guarantee purchases made with stolen cards, but only to those vendors who use cloud-based POS. This is because of the instant upgrades provided as part of the software-as-a-service model.
Lower Operating Costs
Cloud-based POS systems and online inventory management are great for businesses trying to cut costs. You’re going to want to implement a solution that works with your software, eliminating the need for a back office solution, saving you money by cutting out the need for an office computer, software, and licensing fees, plus any further setup, support and training charges.
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