How Cloud-Based Point of Sale Works
Cloud-based point of sale (POS) systems provide numerous advantages over more traditional hardwired POS systems, one of which is a significant reduction in costs, especially to small business owners.
POS software is continuing to evolve at an amazing speed. It’s likely you’ve noticed that the days of old, clunky cash registers are a thing of the past. Today, brick and mortar vendors are leaning more towards better streamline systems that work on smartphones and tablets, rather than complex systems that cost a great deal of money.
However, retail stores aren’t the only ones interested in innovative POS systems. Many ecommerce store merchants who sell their merchandise at trade shows, craft fairs, and farmer’s markets also need easy-to-use, less expensive POS solutions as well.
What exactly is cloud-based POS software?
Cloud-based point of sale software is the latest trend in POS software and is increasing in popularity everyday. The system itself can be directly accessed from the Web and is usually compatible with most point of sale hardware, including printers, cash register drawers, etc. Also, cloud-based point of sale systems offer convenience and cost significantly less since vendors can easily access their customer data from virtually anywhere there’s a WiFi connection.
What are the benefits of using cloud-based point of sale software?
The introduction of modern-day cloud computing triggered the potential for POS systems to be set up as a literal service that can be directly accessed from the Web using a variety of internet browsers. Due to previous development regarding the communication procedures for POS’s management of hardware, today cloud-based point of sale systems are completely independent from operating systems and platform limitations.
Some of the key benefits of a cloud-based point of sale system are immediate centralization of information (very important for chain retailers), less expensive startup costs, and the ability to access key data from virtually anywhere an Internet connection exists.
Even though the low start-up costs are very appealing to end users, it’s not yet known given the subscription fee that’s involved whether or not a cloud-based point of sale system is actually more cost efficient concerning the mid or long term as compared to the in-house kind of EPOS system. Therefore, any benefits in terms of cost would need to consider the advantage of ongoing software version updates by the provider as well as the savings in cost regarding in-house IT management.
Cloud-based point of sale software in the retail industry
Overall, the retail industry is by far one of the biggest users of point of sale terminals. The retail POS system itself usually involves a cash register that only just recently included a computer, cash drawer, monitor, receipt printer, barcode scanner, and customer display in addition to most of the POS systems in retail also including a credit card and debit reader. Also, it can include a weight scale, conveyor belt, customer pin-pad device, signature capture device, and an integrated credit/debit card processing system.
More point of sale monitors today employ user-friendly touch-screens along with computers that are built right into the monitor framework, which are often called all-in-one units. The point of sale system software can generally handle a number of customer-oriented functions, including sales, exchanges, returns, discounts, promotions, layaways, gift registries, gift cards, customer loyalty programs, and more.