What is a Mobile Point of Sale (mPOS)?
mPOS, short for mobile Point of Sales, is an alternative to the traditional way of managing a business. It brings all the business processes under a single platform making your business process smarter. Through mPOS, you can now manage sales, payments, inventory, and employees, generate sales reports and set up customer loyalty programs by managing a customer database with ease.
With increasing numbers of SMEs and micro-merchants that sell fast-moving products, the use of mPOS is gaining now attraction more than ever.
How does mPOS work?
mPOS functions such as managing the inventory, maintaining a customer database, generating reports and analytics, and credit sales and debtor management help businesses manage all their activities with just a few clicks. This greatly benefits businesses like restaurants and food trucks where quick performance is everything.
If we take a look at running a restaurant/cafe business, there are features streamlined to run it efficiently. From displaying the menu to paying the bill, all the tasks can be performed through a single platform. This eases the burden of managing several tasks through various channels. Additionally, multiples displays can be paired, using which waiters can send the orders from their devices to the display in the kitchen. Kitchen staff will receive tickets for new orders which can be assigned to each staff and tracked. This allows the process of ordering, cooking and delivering to run smoothly. Open tables can be tracked using a timer. And the order history of customers can be retained in the database, which helps the restaurant to serve the customer better and also to provide customized deals and discounts. This increases the number of recurring customers and helps the business grow.
How does mPOS differ from traditional POS?
A few key differences between mPOS and traditional POS are portability, installation and integration costs, security and margin for errors.
Ability to accept payments while being on the move is the major advantage of using an mPOS system. For example, when billing, the items purchased can simply be selected in the system displayed to both the seller and customer. Here the customer can pay using any accepted mode of payment including cash, credit/ debit cards, etc. Each purchase automatically adds Loyalty points which give the customer redeemable offers and discounts on future purchases. Point of Sales software like SalesPlay enables you to store each transaction in the database. This enables the users to transaction details.
In terms of hardware and integration, mobile POS requires only an Android/ IOS device or web platform. Unlike the traditional POS which requires a substantial cost to install, this costs little to none. This cuts down expenses for shops with multiple branches. Further, merchants can retain customer data in the system. This improves customer experience as the business can now track customer buying patterns and provide customized deals.
Benefits of opting for an mPOS
The major benefits of using an mPOS are minimal setup, secure, convenient employee management and fast optimised checkouts. When setting up shop in a new location, an mPOS needs little to no configuration. Faster checkouts save more time for both the seller and buyer. Likewise, the system is secure and reliable. With the ability to check stock availability in the inventory, ordering and dispatching can be done without having to disappoint or abandon the customer.
What should you consider when choosing an mPOS?
Not all businesses are alike. Each has different requirements. It is essential to meet these requirements to be successful. There are many mPOS solutions in the market to fit every business. However, free or not, it is essential to carefully consider the features before choosing one.
Some such key features to consider are,
Therefore it is important to analyse the cost-benefits of the available systems before opting for one.
Is an mPOS the right solution for your business?
Consider mPOS as the hub of your business. mPOS is highly preferred by businesses like taxis, delivery services, food trucks, mechanics, and so on. SalesPlay is an mPOS software solutions provider with multiple features like faster checkout, maintaining shops at multiple locations, real-time stock tracking, employee management, maintaining customer databases, etc. If you are looking for a system that is reliable and efficient, then an mPOS software is the right choice for you.