According to research on 400 POS online customers, the retail industry is the largest user of POS systems.
A POS system or Point-of-Sale is a system of software and hardware employed by businesses to effectively manage and process online orders, purchases, and payments. POS systems also help businesses in employee and inventory management.
Traditional POS vs. Cloud-Based POS
According to statistics, the public cloud service market is poised to grow to USD 623.3 billion by 2023 globally.
A cloud-based POS is a web-based point-of-sale system that allows merchants to process online payments without investing in pricy servers and expensive software. Unlike the traditional POS which is primarily based on a server (i.e. central computer), a cloud base POS is networked to the cloud. The cloud is essential, a system of servers that are controlled by a third-party site. Instead of communication wires, cloud-based POS primarily depends on the internet.
Why Does Your Business Need a Cloud-Based POS?
When a company uses a traditional POS, they’re solely responsible for the maintenance, security, repairs, and updates of their server. They’ll have to hire a competent IT staff for data management and maintenance. This may lead to increased expenditures.
Besides, if an electrical surge takes place at the company or a security breach happens, your company’s productivity may be affected negatively because of downtime and data loss.
If, however, you use a cloud-based POS, server maintenance will be performed by a third-party. A cloud-based POS may help you prevent technical failures, theft, business interruption, and supply chain failure.
As mentioned earlier, a cloud-based POS deploys internet, instead of the regular hard wiring, they offer increased flexibility and convenience. A cloud POS offers increased mobility by allowing the retailers to use their smartphones or tablets as a POS and no additional charges.
Besides, a cloud-based POS makes company data accessible anywhere-anytime. The data is always saved instantaneously on the cloud, allowing managers to track sales, update prices, and place orders from any location.
Adequate inventory managements help in faster services and ensures accurate maintenance of tax records, accounts, and financial details.
A cloud-based POS offers seamless information management and multi-site communication. It helps in inventory management, matrix inventory management, customer relation management, employee management, generating business reports, and creating increased sales opportunities.
According to a study, 71% of customers expect businesses to provide online access to the in-store inventory while 73% agreed that they’re likely to visit a retail shop if the retailer provides them online information about the product availability.
You can easily integrate your online, mobile, and in-store platforms by using a cloud POS. This will help you acquire an omnichannel presence and give your customers a seamless online shopping experience.
A recent data report reveals that payment card fraud losses amounted to $28.65 billion globally, where the US alone is responsible for one-third of the overall loss.
Credit card fraud headlines and cybercrime reports spurred doubts about the credibility of a cloud-based POS among retailers and online businesses. However, cloud-based systems offer increased security because of encryption and multiple backups.
CardLogic Systems, offers reliable cloud-based retail POS systems to help businesses keep up with technology, security mandates, and consumer demands.
Ready to get started? Whether you need help in navigating the online payment procedures or want to get a personalized POS for your company, they will help you at every step.
Feel free to contact their representatives.
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