7 Benefits of a Cloud-Based POS System for Small Businesses
It won’t be long before ALL businesses have to update to a cloud-based POS system, so if you’re in the market, you may want to do it now.
Many businesses are under the impression that by implementing cloud POS software, they have to ditch their current system. They also think they must change their traditional terminals to tablets and handheld devices.
This isn’t true since cloud computing doesn’t have to be that complicated. You can easily integrate your cloud POS software into your existing software.
What is a Cloud-Based POS System?
If you have a cloud-based POS system, the software linked with the system is stored in what’s commonly known as “the cloud.”
Although this term is common, most people are confused about what it means. The thing with cloud based systems is that it uses the internet to access data and software that’s stored on remote data centers instead of a hard drive or a server found in your store.
Here are the six top benefits you should be upgrading to a cloud-based POS system for your small online business:
1. Cost Savings
The thing about cloud-based POS systems is that they’re a lot pricier than legacy software. You must pay monthly for its services, while you can buy the old-fashioned POS software all at once.
But with a cloud-based POS system, you’ll enjoy lower upfront costs and easier installation. The vendor will also provide maintenance support, so you don’t need to hire specialized staff or technicians, which allows you to save money and time in other aspects of your business.
As you scale your business, you need to look at systems that will help you grow in the long run. Efficient, user-friendly upgrades and updates enable you to keep up in an ever-evolving market.
With systems that charge you small recurring costs like subscriptions, you can invest in other avenues like maintaining a steady supply chain and stocking up your inventory.
You can control cloud-based POS systems on your mobile device or via the cloud. The best thing is that you don’t have to be there in your store to know what’s happening if you have an excellent cloud-hosted POS system.
If you want to grow your business in multiple locations or are concerned about how your site performs if you aren’t there physically, a good retail POS System with cloud hosting and reporting features will do some of the work for you.
One of the handiest tasks a cloud-based POS system does is to manage your employees, generate sales comparison reports, do product inventory analysis, and let you manage numerous locations even from afar.
4. Enhanced Data Security
When it comes to the security of POS solutions, you need to focus on two primary areas:
- Security from data loss
- Security from data theft
First and foremost, data loss is almost impossible if you have a cloud-based system that functions well. That’s because many teams work tirelessly, ensuring they’re fully functioning at all times.
Now, use this with powerful servers specifically tailored to store your data, and it becomes clear that your business information will be right where needed.
Secondly, data that is stored on these third-party servers are heavily encrypted. So, when someone tries to access your system, the data stored there wouldn’t be deciphered.
In contrast, because data gathered on legacy solutions can only be accessed on devices within the network, the data will only be as safe as those servers and devices.
5. Integration With Other Systems
A POS integration directly connects essential business software tools like accounting, ecommerce, marketing, payment processing, and your point-of-sale or POS system where most, if not all, transactions take place.
This direct connection lets your POS system business software tools collect real-time information from automating your tracking and record-keeping tasks for a more streamlined operation for your business.
6. Efficiently Managing Your Inventory
Managing your inventory can be a nightmare. Quality POS software allows you to have accurate and efficient inventorying.
Depending on the product, you can sort them by type, class, item description, etc. When you visit vendors and suppliers, it’s easy to pull up your inventory data based on your preferred device, thanks to cloud hosting.
7. Enhanced Reporting
A POS system allows you to develop accurate and reliable reports that you can easily access with just a click of a button. That way, you’ll know whether or not a particular product is out of stock or sells too fast so that you can make changes in your reordering schedule if necessary. Also, cloud-based technology lets you quickly access these reports anytime, anywhere.
These reports will let you know which specific products are popular and sell well over the ones that don’t. You can also use them to analyze whether or not your latest promotional campaigns are working or not. The best part is that you can get all this information in real time.
Using cloud-based POS software for multiple stores, you can quickly get all the information you need about different branches within your retail chain or franchise in a single place.
Over to You
So there you have it. Those are the top benefits of upgrading to a cloud-based POS system for your small business.
No matter what type of business you’re running, if it involves a checkout process, you’ll benefit from a cloud-based POS system. It gives your customers a modernized checkout experience and handy management tools for your business. Good luck!