Whether you're in the grocery store, at a shopping mall or attending a craft show, you are likely to experience an encounter with a cloud-based point-of-sale system. POS systems with cloud based services are becoming increasingly more popular, and they have reason to be. With greater access to data and increased productivity, retailers not only save money with cloud-based POS systems, they make money, too. Find out why more retailers are making the switch to cloud computing software.
What is cloud-based POS?
With many operating through tablets and smartphones, cloud-based POS systems are replacing the traditional cash registers in brick-and-mortar retailers and the like. Now, tasks like computing purchase prices and keeping track of inventory can be done through the cloud, with access available anywhere with an Internet connection.
Improved use of data analytics
Members of the retail industry can greatly benefit from access to a wide variety of data and analytics right at their fingertips. In real time, retailers can see current shopping and sales trends, allowing them to make marketing adjustments and business decisions in the moment. The quick thinking opportunities provided from immediate information will ensure not only that time-efficient decisions are being made, but that they are informed ones as well. This revolutionized process in retail will increase business and revenue because retailers can more easily cater to customer demand. Additionally, since the data is housed at an off-site location, that data is more secure. Holding important data in an in-house setup follows the "all your eggs in one basket" idea. The implementation of cloud computing into POS systems is changing the game in the retail industry.
Cost savings and revenue growth
Just as with other cloud services, retailers pay a low, monthly fee for their services. These payments may be fixed, or the rate could be determined with a pay-per-swipe plan in which the retailer pays based on how many card processing charges are made. Both methods have their advantages. The first is relatively inexpensive, and the latter allows retailers to only pay for what they use. Additionally, maintenance responsibility falls on the provider with cloud-based POS, saving retailers on IT costs.
Retailers will also see productivity boost by switching to a cloud-based POS system, which most certainly contributes to business success. The mobility provided with the cloud means that retailers can be available on a 24/7 basis. The wider availability will increase customer satisfaction, making it more likely to develop repeat customers and thus more sales.