The importance of the Point of Sale (POS) system in any business

What are the advantages of a cloud-based point of sale system?

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You might not have a big business. In fact, it might just be a home-based business that operates through the internet, and through a weekly pop-up stall at the local flea market.

You don’t really need a point of sale (POS) system as you do all your billing by hand and give your customers printed bills.

You are happy, your customers are happy and you do not need the clunky traditional POS system. Yes, you did have a few problems. You could not accept credit card purchases and this did affect your customer base.

But this was still not enough incentive to buy a traditional POS system. After all, where would you keep that clunky billing station, a receipt printer, a cash drawer, credit card reader and so on?

Are you right?

You could not be more wrong, says Food Service Warehouse. It does not matter what size your business is; you require a POS system – and you require it right away.

A good POS system is invaluable to any business and they are cheap as well. Modern vendors such as Shopify make POS systems that can be operated through a smartphone or a simple handheld tablet.

You do not have to invest a substantial amount of money and the POS can actually help you to maximise your savings. However, you might not yet be convinced about the benefits of a POS system for your business. In that case, here are a few points that should convince you.

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Newer billing systems

Traditional billing systems are outdated. Most retailers have now shifted over to handheld billing systems, like tablets and smartphones. The POS system is loaded on to the tablet and smartphone and it can be accessed through a small icon. For a small business, this is the ideal way to bill customers. For example, if you have a website, your online shopping cart can be integrated with your tablet or smartphone POS system.

Customers who buy online are processed through the same POS system. You will be notified when sales take place and you can ship goods immediately. This same POS system can also be used when you set up a pop-up store. Smart credit card readers can be attached to the smart devices and you can process credit card sales at your pop-up store or stall as well. There is no need to refuse customers who have credit cards at all. This scenario is far, far, different from conventional POS billing systems and you can actually increase your customer base rapidly.

Cheap and portable option

You can now carry your POS systems anywhere you want, according to YourCash. All you need is a tablet or a smartphone. Cloud-based systems are even cheaper and the entire set-up cost for one tablet or smartphone and the POS system can come to just over £1,000. Of course, you might have to pay a small monthly fee to store your data on the company’s cloud server but this is really worth the portability offered by such systems. You can carry the smartphone and tablet to any business venue and process a sale anywhere. Can you imagine the benefits this will offer to a small mobile business like yours?

Financial reporting

Small businesses cannot afford to hire bookkeeping and taxation services to keep their papers in order. Now, POS systems have bookkeeping and taxation software built into the system. All you have to do is click on a single button and the POS system will generate the reports for you to review. You can go through the reports and collate your tax data in two days. Manufacturers also update their system regularly. As a result, your POS system will contain current tax information and you will find it easier to file your tax returns.

Track customer data

Even though you are a small business owner, you have to track your current customers and generate leads for new customers, according to Microsoft. With a POS system, you can collect email IDs, generate newsletters and gift cards, set up a loyalty programme, and track favourite product purchases, set up a notification program for out-of-stock items and so on. With these features, you can easily get customers interested in your products and get them to visit your real-time or virtual store.

Take the time to browse the latest cloud-based POS systems operated through smartphones and tablets in order to make an informed decision. Make sure you buy your system from a reputable dealer to get the right balance of cost, ease of use, portability, product features, and customer support.

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