7 notable advantages of a cloud-based POS system
While a Point of Sales system, or a POS system, has proved to be a comprehensive solution to the demands of an ecommerce business, with the advent of the cloud, even more advantages can be lined up to the integration of a POS system in a business environment.
A cloud-based POS system comes packed with a number of advantages that players in the ecommerce sector can gain from, ensuring in turn that their business attains a smooth flow. Here are seven of the most prominent ones:
Advantage 1: Data Access at your fingertips
The first and most important is being able to access data online at any point of time and from anywhere. This is the main advantage of a cloud-based system. Cloud-based POS systems provide real-time updates and allow you to monitor your sales progress while you are on the move. Having the ability to view live sales data from anywhere helps you keep track and manage your store’s performance at your fingertips. This is because all the data is reported to you via the internet and you can simply gain access to it on your computer system or smart phone.
Advantage 2: Integration that’s simple
Cloud-based POS systems effortlessly weave services like gift cards, discounts, loyalty programs, payments, rewards, etc. into the system. Managing all these services at a time and place convenient to you is therefore not only a possibility, but also the norm.
Advantage 3: Prompt promotions and upgrades
Most reliable cloud-based POS systems and services providers keep you up-to-date with any software, technology or security upgrades you would need to incorporate over the next few years. This is so that you are in step with your competitors and other similar storeowners in the market. These upgrades would not affect your business in any way as they are managed through a remote server, so you do not have to fear any downtime or additional management costs to be borne. This remote server also highlights or prompts you if you run out of space or if you are in need of an upgrade. This is likely to happen when you have an increase in your customer base on your POS system. So this eradicates any apprehensions you may have about being left in the lurch at the eleventh hour.
Advantage 4: Cost effectiveness
Compared to the traditional brick and mortar retail stores and even traditional POS systems, the cloud-based POS system is a lot more cost effective. In order to register your product or services onto a traditional POS system, you would have to pay a software license fee. This is to be paid each time you register. You also end up paying an 18-20% maintenance fees for regular upgrades and promotions. Then, the technical support and training drills a deeper hole into your pocket. After paying up for all this, let’s just say you are unhappy with the POS system purchase; well, you would not be reimbursed as you have already paid all of it upfront. This, fortunately, is not the case with the new POS system purchase. You would need to pay a monthly fee only, for the purchase and no other upfront payments. This monthly fee is for the software, training and support and future promotions and upgrades. If you are unhappy with the deal or service at any time, you have the liberty to opt out.
Advantage 5: Migrating to a cloud-based POS is convenient
Companies may find it difficult to export all their customer portfolio and data from one POS to another. However, this job could be made much easier by simply transferring all your customer data onto a spreadsheet and sending this spreadsheet to your POS provider. Most cloud POS companies, with good performance standards, will have the ability to merely import those customer details to your new POS account, so you can be as good as new in no time. The company would not even charge you anything for this service.
Advantage 6: Multitude of options
You can have access to several cloud-based systems providers and need not limit yourself. You have the freedom to choose the provider that suits your business requirements the best and one that you can comfortably afford. You would not have to be bound to any annual or bi-annual contracts with your provider as well. You only have to pay the minimal monthly fee that can be stopped if you ever wish to cancel or discontinue the service for any reason.
Advantage 7: Minimizing risks
Cloud-based point of sale systems is the perfect solution to the risk of loss of data through virus attacks or data corruption. All the information and customer inventories are stored online, and hence are at a low risk of being infected or lost. You also don’t have to worry about system downtime or the adverse effect of it on potential revenues. Another common risk that most retailers face is that of credit card fraud. However, very soon major credit card companies will take the responsibility for purchases made with stolen cards, thus minimizing the revenue loss to the retailer. What you must note here is that this will only be applicable to merchants who have upgraded to a cloud-based POS system, as the software-as-a-service (SaaS) model comes with mandatory technology upgrades.
A cloud-based POS system guarantees a safer and more profitable ecommerce business environment, along with efficient services through lower costs, better productivity and minimal risks—good reasons for you to consider a shift from the traditional POS system to the new gen cloud-based one.
Image Credit: penellan on Flickr