It is difficult to manage a small retail shop or a 5-star restaurant while managing marketing, administration, and other tasks. Point-of-sale systems (POS) can help you not only get through your day but also propel you into the future.
Merchants today need to cloud POS software to keep up with customers. This flexibility is possible with cloud technology.
The Coronavirus pandemic had a profound impact on how consumers shop, work and live. Retail is not an exception. Over 80% of online shoppers shopped in 2020. Retailers have adopted new sales strategies since the pandemic. These include contactless payment, curbside pickup, and virtual consultations. They also use social commerce to sell products via social media. This new behavior is expected to continue, according to shopper surveys and retail experts.
Small business owners need to be able to access the information they need in today’s changing business environment. Cloud computing allows users to access data from anywhere they have an internet connection. Cloud computing can be used to describe a variety of cloud services.
POS Software & Cloud Computing
This software is the point-of-sale software that can be used anywhere. Cloud POS software is not required to be installed in your physical shop. Instead, they host your data on third-party services like Google Cloud and Microsoft Azure. This is a different approach to traditional POS systems that can only be installed on certain devices.
Cloud-based POS software can also be referred to as software-as-a-service or web-based POS. This type of system stores your data on a remote server, making it accessible online.
It’s similar to using Facebook and Gmail. Your data can be accessed from anywhere via the cloud. You can also manage your store from anywhere.
Multi-location retailers were most likely to consider cloud-based POS before the pandemic. This is a good idea, as sharing information between stores is much more difficult with traditional POS systems. Online sales options have been in high demand since the COVID-19 epidemic. This means that retailers who have only one physical store will need to manage their customers and inventory online and in-store.
Cloud computing refers to a network of remote servers that can be accessed via the internet to store, update and manage data. This revolutionary invention has changed how we see business today.
Here’s how cloud computing will impact POS software
- Enhance Customer Experience
- To fill the bill
- The invention of New Products
- You can trust us!
- Get detailed insights into your business:
- Reduce the communication gap
- Visible Supply Chain
Main Benefits of Cloud technology & POS Software
A revolution is coming that will change the way POS software work and look. The popularity of iPods and mobile POS apps has increased since 2014 and are now available in almost all major countries. These web-based POS software have many benefits that can be used to make your store mobile.
Let’s take a look at the key features and benefits of cloud-based POS.
Real-Time Inventory Management Across Your Entire Business
Traditional shoppers are buying more online to pick up or deliver their goods. Retailers need a strategy to manage inventory. This can prove stressful as online sales are handled differently from traditional POS systems. Stock-outs can cause upset customers and lead to lost sales. It is important to keep track of your inventory history and stock levels wherever you sell.
Many traditional POS software offer “cloud” options, but they are often cumbersome, distant workarounds that don’t sync inventory between locations in real-time, often break down, and require costly third-party tools or technical support.
Traditional systems can prove difficult to manage inventory when there is uncertain demand. These systems can sometimes be separate or only sync once per day, which can lead to a significant drain on resources and finances. Because the POS software’s quantities are not accurate, it has made it more difficult for merchants to manage inventory and stock levels manually.
Retailers can do everything with one software, thanks to a cloud-based retail POS software platform.
- Share the same products in all digital and physical locations
- Split the product stock quantities between a store, website, or warehouse.
- You can easily open new stores and stock splits in order to re-allocate your inventory at any moment
- Give staff the ability for product availability to be checked at all locations.
- You can control how many access employees you have to view inventory and costs.
- Online sales made from stores are easy to pick up or deliver.
- Buy online and pay in-store for pickup
- Buy online, Add more/Exchange / Return in-Store
Stock-outs can be minimized by being able to quickly adjust purchases or move stock quantities as sales occur, and not after the fact
The number of cash payments is declining year-on-year, with 37% of 2019’s payments made in cash compared with 67% in 2009. * Current trends indicate an increase in card transactions, as well as the popularity of new technologies such as wallets. Customers who value convenience will find it frustrating when their preferred payment method is declined by a venue.
Cloud POS, like all software, is always updated to meet customer demands. It is also compatible with a wide range of payment integration partners. The POS terminal can also automatically sync with EFTPOS payment terminals in a secure and safe way. It means that staff won’t have to make keying mistakes and customers can receive faster payments.
It is crucial to be able to track, manage and engage customers across all channels, as shopping habits change throughout the pandemic. It allows retailers to be flexible in their business processes and quickly adapt to changing environments.
Traditional systems require data to be manually shared between sales channels. Cloud-based systems, on the other hand, give merchants instant access to shared retail data. This makes it much easier to spot trends as they occur in real-time.
Modern cloud platforms can even help retailers to leverage their retail data to increase sales by leveraging next-generation technology. TAKU was the first POS company to become a Trusted Google Partner. This platform automatically helps retailers to be found online when people search for the products they sell. Newer cloud-based POS software can increase sales by engaging shoppers. They can also help retailers reach shoppers before they leave their homes.
You need to ensure that your retail technology can adapt to the changing world after the pandemic. It’s easy to switch to the cloud – it is possible.
A cloud-based POS software that integrates seamlessly with your business can give you a complete view of your company and do more than just take orders and payments. It streamlines your service and gives you powerful insight. This allows you to concentrate on growth.
Akshay Bhimani is a Software Analyst at Techimply, India. With experience in the technology-driven field, he has mastered his knowledge on How(s) and What(s) to be done for a business. Also, he’s keen to share his knowledge on a few technology-related topics such as cloud technologies, POS, ERP, school management software, and data security with readers that can assist any kind of business.