The cloud-based POS system has taken over the business sector to a new dimension. Its clients and subscribers are all around the world. It doesn’t matter if you’re a small business owner or a multiplex, Franchise based business owner, The Cloud-based POS system is the best choice for all your business solutions. Its functionalities, along with its second to none features, have made it the talk of the business town. With nearly 250 million subscribers, both permanent to contract-based, the market value for these type systems is increasing day by day.
With its different modes of operations and techniques, Cloud-Based POS systems are being used in nearly every type of business. The transaction techniques followed by the mode of payment it offers mainly gathered the subscribers around these systems because people would like to have happy go lucky type of situation while shopping and the most disturbing scenario they face while doing it is to stand in a queue and wait for their turn. Why not you would go for a tap on your phone and pay your bills? That’s really fast and futuristic as well.
In our previous blog which was all about the success tips which can help retailers in the modern market
We tried to share the effective tips which can help our readers to outshine in the industry because when you use technology in your existing business it eventually opens a new opportunity for the business to grow.
Why Cloud-Based Systems for Your Business?
Cloud-based POS systems are suitable for any kind of business. While having everything in your phone you can easily go through the current activities, which include the cash flow, the items purchased, things being left over in the stock, and the current retail cash sale you collected in a day. Rather than being dependent upon the conventional POs system with that heavy desktop device for which the owner has to reserve some budget for its maintenance, it’s up-gradation & for the fault recognition and correction as well.
Now you just have to tap once at your remote device, and all your dedicated services are in your bounds thanks to the well-managed, well maintained Cloud-Based POS system. Well if we keep on discussing about its significance and how it is advantageous to us we will reflect some of the points below that how this Cloud-based POS system is really a blessing for the business community and how it is favoring to them in increasing their business, the following things mentioned below are thoroughly made after extensive research & findings from the local market to the international buyers and sellers so it can be trusted.
Accessibility:
The first and the best feature of a Cloud-based POS system is its accessibility, suppose you’re a frequent traveler & you got a lot of business to carry with you, what will be your priority, it’s important to carry your business, and it is equally important to travel as well. The first thing that you would really consider here is to carry your business with you. That where Cloud-based POS systems will help you. It will give you a complete track of your business activities, which includes the usual cash flow, the type of things you’re selling, and how much you may get at the end of the day.
Another great feature of a Cloud-based POS system is that you may have a collaboration of things that you can’t have usually. For instance, you don’t have to go to every franchise you own to see what’s going on there, you can just sign-in from your merchant account and can have a sneak peek of the activities happening there without even disturbing anyone. In other words, we can say that you can have a hawk-eye view of the sheep from a very remote destination without letting them know that you are watching them move by move.
Ease of Integration:
The world is changing rapidly with devices shifting to different portable solutions and platforms, so it is with financial tracking systems stacking themselves to new features and setups. The Cloud-Based POS system offers a wide range of functionalities and syncing capacity from any time, anywhere, anyplace. It really seems like an advertisement tag line, but it is, as mentioned above. It is the most amazing feature of The Cloud-Based POS system that it has the accessibility to the web from the easiest connectivity possible.
As far as the hardware where the handler wants it to sync-in. There is no denying that it may require some hardware specifications because of its second to none features, there is a peculiarity about the hardware but it is not a problem because it may get synced and operated in some very normal circumstances so there is no need to be circumspect so much that it may need some very high-end device to get synced . It is portable and easy to use, and it can get synced to any hardware in no time.
Budget Effectiveness:
The Cloud-based POS systems are pretty much cost saving as well. They are easily managed and, most of all best for small-term businesses. They require no cut-offs for any up-gradation charges. The only thing that really matters near to them is the high-end data connectivity to its mainframe which mandatory in order to keep it running. Why the cost-effectiveness is so important as far as the POS is concerned? It is because being a business owner there are several things to take care of the budget is allocated on the necessary things.
The billing systems are the least possible things which the owner want to spend on, it gives him a shock with legacy POS system when deployed because it requires a lot of money for the up-gradation and other stuff as compared to the Cloud-based POS systems whose annual charges with subscription are fixed which start from175-250$ a year, spending nearly 300$ in a year isn’t that bad rather than wasting many on the conventional setup moreover with Cloud-based POS systems there is no need of any hassle if you want any upgrade because its connectivity with the cloud will resolve all of it in just one tap.
Automatic Promotional Utility:
Promotional offers and sales are the latest trends in the businesses these days if we can say it that way if you lead your business the most conventional way without giving something back to the people then you are pulling down the graphs of your profits on your own hands. Now here begs the question of how a Cloud-based POS system will do it more effectively while people are doing it with the conventional POS also?
The answer to this query is by its better understanding and integrity of the market trends, while it is connected to the cloud all the time it helps in picking up latest trends being followed in the market subjected. It helps the handler in managing the inventory according to the type of trends and also helps in managing the stuff and also suggest some good sorting analysis of how to create some good reward packages for the dedicated/loyal users of the brands you host, moreover it also generate a timeline of how long this trend may be affective in accordance of the sales ratio when started, this may be an editable option you may choose to continue to stick to that promotion or change when you like to.
Better Performance & Forecasting:
According to Research by NRF.inc. There found to be nearly 30% of the data that was found to be shrunk or missed by administrative and paperwork errors. This research is done only in North-American and European regions. 30% of data getting shrink in a massively fast environment like the USA, The UK, and others is a very big figure. The reason behind these was found to be the mishandling of the POS systems & the paperwork being done at the time of sales, imagine if they would have used Cloud-Based POS systems there how their simple and accurate their work would be.
Cloud-Based POS Systems, as we have already mentioned above already that by using it you can track record of your dales per day and have better forecasting of your business but also helps you in managing the cost of the things you are carrying which also includes the labor cost, which is termed as Cost of goods sold (COGS), by having the reporting so clear & concise there is a very less possibility of having errors in reported data.
Smart Inventory Decisions:
As discussed above, the tailored trends being followed in the retail businesses and the flowing of inventory on these sales promotions. There were several cases reported when this massive changes occurs there is a great fluctuation seen in the inventory management systems (IMS) of the POS systems being used there as the offer bundles were managed by the determiner which is an added feature of the Conventional POS.this is something very alarming while managing huge inventories because if it doesn’t figure out then you may end up holding a question mark of where are the things you purchased which should be in your inventory.
Well Fret not The Cloud-Based POS system can also solve this problem of yours by its inventory tracker application. It will look after each everything going out, even in packaged form or as a single entity. This feature will ease the pressure from the end of the sales as well because the people monitoring the sales know how much the inventory has in it how much it should order more. It was a complex process in the starting when implemented, but now it is a complete on-hands tool with the people using it for good and for their business as well.
Staff Tracker:
Wait!!! How a Cloud-Based POS System can maintain Staff activities? How is it possible to regulate staff responsibilities with your financial aspect? The question is being asked under the budgetary side, and Yes! Cloud-Based POS systems can offer services in managing staff at your workplace. Suppose you are managing a business with 24/7 services and you would need your workforce to be their all the time, here your Cloud-Based System can help you out. You may roll out your staff shift wise which also decides their wages. The Cloud-Based POS System can track record of the staff members at each shift of the day.
These services were opted and tested by McDonald’s in LA, where they have substituted their staff on different shifts and asked the financial handler to practice this stuff via Using their Cloud-Based POS System. Normally the restaurants and hospitals are the places which offer 24/7 services to the people, but as by the demand of the situation, there are some other setups as well which are now offering services both on-spot and telephone gateway as well if people reach them out for help at any time of the day or night.
Risk-Free Business:
The Cloud-Based POS system offers the best possible security for your business. It is risk-free and completely secure as all the data getting stored in the cloud is encrypted. Although people still are stuck with the conventional POS setup because they don’t find the System reliable as if near to them the conventional paper type setup is authentic and it is sensible to them, as in reality, the type data are written or in the hardbound type is the easiest to be tempered. meanwhile, talking about data being tampered, the data on the cloud can also tamper? The answer is a big no. The reason behind the data on the cloud can’t be changed or moved or used for theft because whatever goes on Cloud, it is encrypted or hidden behind some alphanumeric code.
Thus, in the end, I would like to say that the Cloud-Based POS system is the future of financial systems being used at the retail business setups. It is secure, easy to use & helpful in any case. It helps the owners and businessmen to improvise better and better with their business experience and provide a great opportunity for good business expansion. It is a suitable notion for the future of organized and computerized business solutions and a way forward for the forthcoming challenges.