7 Benefits of Transitioning to a Mobile POS System
BY: LUCINDA HONEYCUTT ON MONDAY, MAY 02, 2016
For a startup or an existing business on a budget, purchasing and maintaining the necessary point-of-sale (POS) system can be difficult and costly. Whether you’re a restaurant, ecommerce business, or traditional brick-and-mortar retailer, using a mobile POS offers many benefits to help your business succeed.
A cloud-based POS system provides additional flexibility and mobility. You can install and run your entire system using a mobile device such as your smart phone or tablet. In a restaurant scenario, you’re wait staff can take payments right at the table and email the receipt or send it via text message. The mobility allows you to manage your business from anywhere in the world with Constant access to all system reports. This is particularly helpful if you are trying to take a more hands-off approach and leave your business in the hands of trusted colleagues well away on vacation or working on expanding your business to additional locations.
Having a fast and efficient checkout process is critical to customer satisfaction. Nobody likes to wait and a Long line while the cashier tights and a description of what is being purchased. Using a good POS system, your cashier can ring up the items quickly while giving you access to product information to improve service deficiency. Customers love shopping in-store – it’s standing in the checkout line they hate.
Integrations with Other Applications
A mobile POS system integrates well with other applications you’re probably already using to help manage your business. For instance, Vend offers integrations with QuickBooks to make accounting easier deputy and timely to make scheduling staff and assigning tasks more efficient. Plus, you can use mail thing to automatically sync your email marketing list to the platform to automate your email marketing and customize it based on what customers have purchased from you in the past. Personalized emails deliver six to seven times higher transaction rates – read: more money in your pocket – yet, 70% of businesses fail to use them.
Easily Track Inventory Across Multiple Locations
Managing inventory, whether you have a single or multiple locations can be incredibly complex and time consuming. With the right POS system, you can efficiently manage your inventory across multiple store locations and the e-commerce division so you have accurate data. This way you avoid potential customer service fiascos when a customer places an order online only to have to discover you sold the last of your inventory at your brick-and-mortar location.
Once you enter the inventory, the system can keep track of it as sales are made and returns are processed. So your inventory remains consistent and easily managed as you make changes to the products you carry or the services you offer.
Big Data Insights
Since the POS system will track and record all purchases, you will easily be able to see any customers past purchases weather made in person or online. With this information, you can track your most successful products and services, so you can meet the demand of your customers. You’ll also be able to use the information to enhance your marketing campaigns targeting customers based on their buying habits. With the big data hand, you’ll be able to see how marketing efforts correlate to sales, to see if you need to make any adjustments to your sales strategy. 66% of companies surveyed don’t have revenue or industry data for their customer base – don’t be one of them.
Your POS system should also be able to keep track of any sales another special promotions you may be running in any given time. Some also include features that help you implement and manage a customer loyalty program. The system will track data about the success of these promotions and programs so you can see what works and what doesn’t and make adjustments accordingly.
Small businesses often struggle with in accurate inventory and unrecorded sales. Your staff could easily wind up spending more time tracking down and rectifying the mistakes and then they spend helping customers and closing more sales. By alleviating the issues with accuracy, your staff can focus on the customer which helps boost revenue. Using a traditional cash register system relies too much on human input, which leads to a higher number of errors.
If you’re running a traditional POS system and it gets hit with a virus, the system corrupts, or crashes, your business will suffer with downtime. Plus, you’ll need to bring in IT staff from the POS vendor to fix the problem. As such, there may be additional cost incurred. While the system is down, you’ll have to resort to other payment methods. This could inconvenience your customers who rely on debit and credit cards rather than carrying cash.
You also benefit from increased consistency as a result of decreasing human error. If you run multiple locations, a product may end up costing more at one location. Using a POS system can eliminate this problem which guarantees a better and more consistent customer experience from one location to the next.
Mobile POS systems are cost-effective because you don’t have to pay any upfront fees for hardware and software or annual maintenance. You’ll pay a small monthly fee and have the software updated regularly. If your Internet connection ever goes down, the data will remain available and sync to the server once your connection is restored. Save money and avoid investing in quick equipment you must pay to maintain and opt for a cloud base POS system. You’ll be glad you did.
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