Retail is one of the oldest industries which continually evolving, expanding and adapting new methodology & technology for handling their business processes. In this era of digital technology, the competition between retail houses either is virtual stores or brick & mortar stores roses to extreme, everyone wants to stay ahead in terms of delivering seamless buying experience to their customers. They are making huge investment in their store designing, advertising and back office IT operations to enhance their customer shopping experience. They are switching from their traditional cash register to a retail POS system in order to conduct their sales more cost-effectively and efficiently. There is a newer industry trend in point of sale software applications that is rapidly getting popular among numerous retail segments, namely Cloud-based POS solutions.
What is Cloud- based POS Solution?
Cloud-based POS systems are Web-hosted solutions that store data on remote servers and make information accessible online. It can be access directly from the internet using computer and even mobile devices. Unlike traditional POS solution it does not required any on-premise system installation, software update and annual maintenance. It can be access from anywhere at any time helping retailer to monitor their business from anywhere.
The cloud based POS solution is a SaaS application means software as a service where there is minimum subscription fees and have option to “pay as you need” , thus providing benefit to even small retailers who are not capable of making huge investment on POS application.
Benefit of Cloud-based POS Solution
Cloud based POS system provides its benefit to large segment of retail without busting their budget. It provides every small retailer an opportunity to automate their business processing and offer a reliable, affordable, and flexible solution to their POS operations. The only downside of the Cloud based POS systems is its dependency on internet. It will be as good as your Internet connection. If your internet connection is lost, you can’t access your data, worse still, you can’t make sales. This is the only limitation of cloud based POS application. But compared to traditional systems, cloud technology offers numerous revolutionary advantages that can drastically improve the value creating capabilities of retail segment. The most significant advantages are: much lower cost, faster time to market, and great opportunities for creating new sources of value.