POS software is getting popular in Pakistan. Because of its efficiency in sales management and accessibility, retail and restaurant businesses are shifting towards POS software.
Pakistan is a huge market with exceptional potential to expand. This huge market has a large part of retail and restaurant businesses that demand POS systems. The issue with the Pakistani POS market is a lack of awareness and exposure to the use of technological tools in the business.
In this article, we will discuss the POS software market of Pakistan, The challenges it poses, the scope it has, and the demand for POS in Pakistan.
Challenges Of The POS Software Market In Pakistan
Pakistan is a third-world country that encounters different economic challenges. The exposure of technology in businesses is often neglected because of deep-rooted traditional business systems.
In this section, we will discuss the challenges faced by the POS software market in Pakistan.
- Reluctance To Use Technology
- Lack Of Awareness
- Deep-Rooted Traditional Systems
- Myths About The High-Cost
Reluctance To Use Of Technology
In this era of technological developments, the world is moving towards automation. Especially businesses that benefit from these advancements. POS software is one of these advancements that help retail and restaurant businesses to explore new ways to enhance their business efficiency.
In Pakistan, technology was introduced years ago. Big brands and businesses started to use POS software, but the proportion of these businesses is very low as compared to other businesses.
Government, regulators, and POS vendors use different schemes and promotional campaigns but the results are not what they expect. The primary reason behind it is the reluctance to use technology.
In Pakistan, businesses are reluctant to use technology. Because they did not want to lose their comfort zone. Although POS software is developed to increase the comfort of businessmen they are still ignored.
Small or medium size business owners believe that by using technology they might face difficulties that can affect their business activities. This reluctance to admit the ease in use of technology is a major challenge for the POS software market in Pakistan.
With time the reluctance is decreasing, and more and more businesses started to use technological tools like POS software.
Lack Of Awareness
Another major challenge of the POS software market is the lack of general awareness. Businesses are not aware of the benefits of using POS software. Not only POS software, but businesses also are not even aware of the benefits of using technology in businesses. The reason behind this is the lack of literacy and lack of exposure to technologies.
Different awareness schemes are launched by the Federal board of revenue (FBR) and POS software vendors in Pakistan like CISePOS. Besides that, social media plays a vital role in awareness. FBR and POS vendors in Pakistan are using social media to spread awareness about technologies like POS software.
Moreover, businessmen in Pakistan also lack awareness regarding the launch of technologies for businesses, like POS software. They lack awareness that there is such a product that can be used to increase businesses’ efficiency.
Deep-Rooted Traditional Systems
The extensive use of traditional systems is another major challenge in the POS software market. The majority of local businesses are run by traditional norms and systems. These systems are outdated and insufficient to manage complex business models.
The business owners are still reluctant to replace them with new systems because of their deep roots in the business. These kinds of businesses need a total transformation from traditional systems to modern systems like POS software.
Another major factor that worsens this challenge is that businesses did not want to leave their comfort zone for something better. They are happy with their systems although they are hurdles for them to grow.
With the rapidly evolving retail and restaurant industry businesses are addressing outdated systems as a hurdle for their expansion and growth. Retail businesses are getting rid of old sales processing systems and are shifting to cloud POS software like CISePOS.
The Myth Of High Cost
Another challenge that the POS software market faces is the myth about the high cost of POS software. Without knowing the actual operational cost of using POS software businesses believe that POS software costs higher than their system and are very difficult to use.
This myth prevents people from reaching POS software vendors. Although POS software providers in Pakistan advertise their low cost and features still the gap remains between local retail businesses and cloud POS vendors.
Moreover, another myth that stops businesses from adopting POS software is that it is difficult to use. People believe that POS software is an extremely complex technology that requires highly trained employees which will cost them more money.
By the time this myth is getting weaker retail businesses are reaching POS software vendors for POS software.
Scope Of The POS Software Market In Pakistan
The scope of the POS software market in Pakistan is very bright. The competition in the market is increasing day by day. More POS software developers are introducing their POS software. Other than that the demand for POS software is also surging which increases the expansion potential of POS software suppliers.
Following are some key factors that increase the scope of the POS software market in Pakistan.
- Government policies
- Shift towards technology
- Demand for sales management systems
- Growing economy
The scope of the POS software market is very bright. Government policies are one of the major factors that lead to a better POS software market in the future. The Government of Pakistan has directed the Federal board of revenue (FBR) to obligate all retailers to stall POS software at their premises. Moreover, retailers that did not comply with this will be fined by FBR.
Other than that, FBR also announces a prize scheme for retailers that use POS software. This scheme attracts more businesses to install POS software.
Government plans to install POS software to the majority of the retailers in Pakistan in five years.
The Shift Towards Technology
As the use of the internet increases in Pakistan, people get to know about technological advancements in the world. They started to explore how they can use something that can help them in their business.
This increase in awareness towards technology helps in shifting businesses to POS software. Other than that, the POS vendor’s campaigns and government policies also increase awareness and make businesses shift towards technologies.
Other than that, the presence of international brands and chains that use POS software to automate their sales process helps in providing exposure to management solutions and business technologies.
Demand For Sales Management Systems
Demand for sales management systems or POS software is surging in Pakistan. As the business dynamics are getting sophisticated and more complex solutions are required retail businesses demand POS software to help them.
New variables and methods are used to increase the efficiency of retail businesses. Customer profiling, inventory management, order management, accounting, and reporting are considered necessary and integral parts of retail business.
POS software has integrations that can automate these processes and fasten the speed of sales processing and management. Moreover, customized POS software is also available for retail businesses that can manage business according to their needs.
Another factor that causes a surge in demand for POS software is innovative POS versions. Cloud POS software, self-service POS, and AI POS software are some noticeable versions of POS software that attract more marts, shops, and malls. Other than efficiency, POS software enhances the customer experience for the business.
The Pakistani economy is growing at a robust pace. New investors are investing in Pakistani markets which leads to enhancements of general business practices across Pakistan.
As business practices evolve businesses start to use new means like POS software to increase their efficiency and customer experience. The urge to do something new and better makes businesses demand more innovation.
POS software is one of those innovations that leads businesses to cope with the fast-moving business evolution.
Other than that, a growing economy increases the living standard of people and makes people demand more leisure and facilities. That demand from the customers and supply from new POS software vendors help the POS software market to grow rapidly.
In the coming years, this surge is expected to increase because the growing economy is demanding more business technology like POS software.
CIS is a software development house working in the software industry for about 30 years. The business expands to various business management solutions that include ERP software, and POS software.
CISePOS is one of the first cloud-based POS software that introduces the idea of cloud point of sales software that decreases the limitations of on-premises POS systems.
CISePOS is now serving the retail and restaurant industry in various cities throughout Pakistan. The growing popularity of CISePOS shows the effectiveness and efficiency of the software. Over 500+ businesses have chosen CISePOS as their partner.
Moreover, CISePOS is an authorized POS software provider by the Federal Board of Revenue (FBR). CISePOS helps its clients fulfill the requirements of FBR and other financial conduct authorities in Pakistan.
CISePOS offers different integrations designed to help restaurants and retail businesses like stores, marts, bakeries, pharmacies, and groceries stores. These integrations are complex tools designed to help businesses in automating their sales process to provide better and faster services.