Top 4 Benefits of a Cloud-based POS System

SalesPlay
Jul 07 2022

When you are a small business you need to constantly update your business strategies and management to outperform your competitors. Especially when it comes to implementing new technologies you need to be updated with systems that will reduce your workload while allowing you to focus on more important tasks such as expanding your business and growing your market base. This is where a cloud-based POS system will help you.

 

Cloud-based POS systems enable you to handle the operations of your stores online and remotely. It reduces the paperwork and gives you access to records anytime anywhere. Especially for small businesses, managing the daily transactions, maintaining an inventory, and managing customers are more important.

 

The concept of a cloud-based system began in the 1960s and has evolved rapidly with the changing technology. It is an industry now valued at $3 billion and is expected to increase by 24.5% by 2028 reaching a staggering $13.2 billion and becoming one of the highly valued tech sectors. The good news about this system is you do not have to be tech-savvy to use it. It is fairly straightforward.

 

cloud based pos

Image credit: Allied Market Research -  Cloud POS Market Statistics: 2028

 

Realistically, for any business adopting this software may seem like an ongoing cost but when you consider the cost-benefits, you will see that it’s an ongoing investment. The increasing reliance of the global public on eCommerce recently, especially since the pandemic, has established a necessity for systems that are flexible, online and remotely accessible to ensure a continuous supply chain.

 

Here, are some key benefits that you should consider when adopting a cloud-based POS for your business.

 

  1. Remote accessibility

 

This is one of the most obvious benefits of having a cloud-based POS system. If you are an owner of multiple stores in various locations, you can now manage all your shops online through one POS terminal. This feature will allow you to keep an eye on the stocks in each location and manage unique selling products of each location.

 

Expanding your business means hiring new staff and adding new members to the management. You will be able to add new users for each store and grant access depending on their management level. For example, if you are running a restaurant, you can create user accounts for the manager, waitstaff and kitchen staff with different access rights. This gives room for the staff to manage their respective duties while the owner can oversee the activities and also be actively involved.

 

  1. Lower setup cost and affordability

 

Unlike traditional POS systems which involve a substantial setup cost, a cloud-based system relies on recurring costs such as monthly and annual subscriptions with minimal hardware costs. You are also entitled to a free trial period of 30 days for additional features. The free trial period can be used to test which features work best for your business. This works well for small to medium-sized businesses that often have to think about what they can afford.

 

  1. Scalability

 

While providing several useful features with an option to pay for additional features mPOS systems have plenty of room to improve. When you grow as a business, you need to look into systems that will grow with you and allow you to grow too. Efficient user-friendly upgrades and updates of the software will help you keep up with the evolving market. With systems that cost you small amounts of recurring costs such as subscriptions, you will be able to invest more in other avenues like stocking up your inventory and maintaining a steady supply chain. When you are an SME with limited funds, every bit of it matters.

 

  1. Simplified workspace

 

Generating reports and analysing them is for any business in today’s competitive market. The ability to generate stock reports and sales reports online while using the data backed up in the cloud removes the necessity of a physical space to store files and reports. Having access to the server 24/7 from anywhere means you can extract, review and share the files without needing large office space. If you are running an online business with limited space, you can utilize what space you have for essentials like storing stocks and supplies. Customer details with specific notes on their preferences and purchase patterns in an online database rather than storing manually in large files and drives.

 

If you are looking for a cloud-based systems solution for your business, SalesPlay is your ideal partner.