Are you on the fence about having a point of sale system for your retail business? You are not alone, and you have come to the right place if you want more details on how this kind of system works.

We are guessing you already know what a point of sale software is. But just in case, this is a system that cashiers use to handle transactions as clients buy products from your business (and that does a lot more in the background). And you may be more and more familiar with the term “cloud computing”, which refers to the practice of using a network of remote servers not hosted in-house to store, manage, and process data.

Why should you pair point of sale and cloud technologies with any other system you were using? In a nutshell, because these cloud systems represent a significant upgrade from cash registers, and they offer incredible benefits for your business as well.

We’ve put together a list of the eight most important benefits for your business to choose a cloud point of sale software right now:

  1. Better Remote Control Of Business Operations
  2. Better Mobility
  3. Risk Reduction
  4. Easier Reporting
  5. Easier Promotions
  6. Lower Costs
  7. Greater Efficiency
  8. Better Customer Services

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Now here are all the details of these benefits.

1. Better Remote Control Of Business Operations

Although managing a retail business is a full-time job, you cannot always be available to make sure that things are going as intended. As you also need vacations, there are certain times when you’re not available and you can’t make sure things go as planned.

You have probably realized how quickly things get out of control when you are not around. Even during some time off, many managers came to resolve a crisis that arose because they were not around to coordinate things.

You may have also noticed that employee efficiency can go down when you are away because you are not there to make sure they meet the stipulated goals and targets. Also, various managers or supervisors might not work well together and achieve the same level of productivity they did when you were around.

But that does not have to be the norm and it is even preventable, especially when you have a good cloud point of sale system in place.

With the software, you can gain greater control over your operations remotely and find out which segments of the business have failed. However, with a good point of sale software in place, you can keep track of various departments and how they are running even when you are away.

For instance, you can know that a new order was not placed when stocks ran out. You can also tell that activity at certain checkout terminals was not as high as is normally the case. Such information can help you resolve regular business issues as soon as they occur even while away to avoid coming back to a bigger crisis.

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2. Better Mobility

Not only do these point of sale systems automate the sales process and inventory management, but they can also be installed on different workstations and add mobility to the system as they can be integrated with internet-connected mobile devices such as Windows tablets.

This option is doubly convenient, first for you and your team and second for your customers because you will now be able to access your data, create invoices and orders even when you are away from your store, like at a special event.

For example, at a sidewalk sale organized by your local retail association, you can create the invoice and accept payment without having to go back inside. Do the same when you attend a trade fair or convention. Bring your tablet or laptop and log into your account to find all your data.

Fortunately, many people are very proficient in using modern devices. Therefore, your employees will not need a lot of training to master how to use this advanced technology to run your retail business and serve your customers.

In the past, weeks of training were necessary before employees could master the use of a point of sale software. But that is no longer the case. A few hours of training might be more than adequate to make your employees understand your innovative point of sale system. In other words, with this modern system, you will hit the ground running.

When you start with a new POS, the migration and training are easy!

3. Risk Reduction

Having a good point of sale system can help lower your risks substantially compared to a cash register system.

And if you have chosen a cloud-based point of sale software, your data is in good hands because great security protocols have been put in place to ensure the management of the IT system.

Cloud technology provides you with a full and automatic backup on one or even several remote servers. It even allows the point of sale software vendor to include automatic and regular updates. These updates increase the security level of the software.

You can also help risk reduction by doing a good management of your employees’ access and their roles within the point of sale system.

To get these benefits without a point of sale system would cost a lot of money. However, with a good modern point of sale software, you will get these security features right within the system you use for your business.

4. Easier Reporting

Without enough information on what is going on in your business, you have to trust your feelings and you can’t always make the right decisions. That is why getting enough information and data at the right time about your company is so important.

But unless you switch to a modern point of sale software, you can not get this information promptly or with ease. But with such a system in place, you can always get important insights about your business whenever you need them. This would save you and your employees a lot of time as they would not need to compile and prepare reports manually.

The POS system can easily create sales reports that you can access at any time at the click of a button. In this manner, you can know when a certain product is out of stock or is selling too fast so you change your reordering schedule. And don’t forget, thanks to cloud-based technology, you can access these reports from anywhere.

These systems can even let you know which products are selling well and which products are not, or cases where a certain promotional drive works out and where it doesn’t. The best part is that you can get this information in real-time.

With cloud-based POS software, you can get all the information you need about various branches within your retail franchise in one place.

Now you can combine your retail background and intuition with accurate and reliable data to help you make better decisions for your organization.

Discover how you can optimize your retail business operations with data.

5. Easier Promotions

Tracking promotions can get difficult, especially in this day and age where there are several ways to market your products, services, or brand to your clients. Therefore, having in place a system that makes the application and the communication of the promotion easy can be of huge advantage to you and your business.

With the best point of sale software, track promotions and incorporate them into the system. A great modern point of sale system will let you create special offers depending on the customer or product category, discounts, coupons, and other promotional options like gift cards and loyalty programs to market your brand to your clients. This is how you can save yourself a lot of effort and money.

After that, you can easily get information about the promotions you were running to understand how well you are doing and the impact the promotions are having on your clients.

For a better customer loyalty, sync Alice POS and Como Sense.

6. Lower Costs

On the financial side, profitability and expense control in a retail business are priority topics and represent a good part of finding a point of sale software.

For example, it becomes difficult to control expenses and daily operations if you choose not to use any point of sale system to run your business.

It would mean hiring more labor to handle things like inventory management and manually tracking all transactions within your business. For multi-store retail, employing more managerial staff would be necessary just to coordinate the different outlets within your business franchise.

On the other hand, purchasing traditional retail system equipment can get quite expensive. You will be responsible for the server and cash register hardware and you will be the only one managing updates, backups, and security aspects.

But getting a point of sale system, especially when it is cloud-based, can be a very cost-efficient project. The initial investment is minimal and the software vendor takes over much of the IT management.

These days, cloud-based POS systems are very affordable, and they come with many great features at negligible costs. Besides lowering labor costs, these systems also ensure more efficient use of personnel. For instance, instead of having your inventory manager spend hours or days going through the inventory to confirm where stock issues might be a concern, they could spend that time doing more productive tasks like customer service.

7. Greater Efficiency

Without a good point of sale software in place, your business would be highly inefficient. A lot of resources would be required to handle the tasks that this great system is supposed to address. 

Businesses should be keen to avoid these inefficiencies and try to use the right resources in the right places and leverage their employees’ strengths so they can achieve a higher level of efficiency.

Point of sale systems, as opposed to traditional cash registers, make everything run more smoothly. As earlier mentioned, running inventory will be easier, and lowering operational costs will be a bigger possibility with this system in place.

But the most important thing to remember is that efficiency leads to greater productivity and performance and that ultimately results in greater profits.

That is another way of saying that a retail business that is looking for a great way to improve its bottom line should ensure it gets a good point of sale system.

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8. Better Customer Services

As you can see, customer behavior is changing all the time. Just looking at the difference between the millennials and other generations is quite obvious. To appeal to everyone and earn their loyalty, companies must learn to use technology.

One of the easiest things to improve with today’s technology is the speed of in-store service. With traditional cash registers, customers have to wait as the cashier enters details of their purchase into the machine, one item at a time. Few modern shoppers have this kind of patience.

But that should not worry you if you have a modern cloud-based point of sale system. These systems make entering information a lot faster.

The customer experience is also about being able to meet their needs. For example, does the customer want to receive an invoice copy by email? This feature is available in a good point of sale system. The customer will not have to manage an additional receipt they may have lost when it’s time to request a refund or an exchange.

Usually, the point of sale system offers the best means of serving your customers through digital technology. Generally, technology-oriented customers like simple processes and are more often satisfied with your business’s services.

By choosing a cloud-based point of sale system, you can ensure that you best serve your customers and ensure they are happy with your services as a business. Remember that regular updates are available and are intended to adapt certain features to the new behaviors observed.

Conclusion

It becomes evident that combining day-to-day operations with a cloud-based point of sale software in an organization is now a critical requirement.

The technological evolution of these systems in recent years and the possibilities for continuous development, thanks to the included regular and automatic updates, make managing a business much easier.

Although we have talked about 8 reasons you should switch to a cloud-based point of sale system, the list of reasons to get such a system is much longer. But above are the most prominent reasons. Therefore, if you are yet to switch to a point of sale system, it is high time you gave the idea some thought.

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