10 Benefits of Using Online Point of Sale System

Why choose an online point of sale system? Many people have asked this question. In contrary to many who still opts for traditional point of sale (POS) systems, an online point of sale system, often running in web based browsers, is the next generation point of sale application. Often, retailers are not willing to change, partially they are already used to their existing offline systems, or in some cases they trust the word of mouth recommendations from their business associates or friends. Let’s look at the 10 benefits of using a online point of sale (POS) system.

1. Manage From Anywhere in Real Time
As a business owner, an online based system allows you to manage your business operations from anywhere. As the whole point of sale application is hosted in the cloud, you can be working from the comfort of your home and yet have a real time view over your sales reports real-time, across all outlets. This equips you with information that you will never have with a traditional system, and allows you to make strategic decisions quickly.

2. Real Time Stock Management – Improved Stock Control
From a shop manager or store keeper point of view, the real time stock changes update means there will be less frequent stock out scenarios as once the stock level drops to a certain amount, the shop manager will be alerted to restock. This allows a better forecast over stock movement , giving you scope to reduce your average stock levels thereby freeing up cash to be used elsewhere in the business.

3. Never worry about Hard drive or PC failures again
In the event of a hard disk crash or PC failure, another laptop or PC can quickly be used to replace, as long as it is installed with an updated browser. Compared to a traditional POS system, the downtime will be longer and there is a possibility of loss data.

4. Easy Installation
Installation is quite straightforward, as the application is hosted in the Internet. Boot up your laptop, install the drivers of your thermal receipt printer and we are almost ready to go.

5. Constant software update
The problems faced with many retailers that i personally know of is that their point of sale system often contains lots of issues and bugs. This is a result of unmaintained system as annual fees can be quite high to justify. A good point about online point of sale system is the software updates is almost seamless and unnoticeable. The vendor uploads the updated version of the application into the cloud, and all retailers will be automatically upgraded!

6. Offline Transactions even when Internet is down
The first concern asked by many business owners resistant to convert to an online based system usually asks this: “What is our internet connection is down?”. With new web technologies such as HTML5, such concerns have already been countered. The browser is able to use memory and cache to store the sales data, even if the internet connection is down. Once the internet connection resumes, the browser would be able to detect and automatically synchronisze the data into the web server. This is also a seamless process not noticed by the end users.

7. Secure and Confidential Data
Most online point of sale applications ensure that confidential business data are protected. Some online POS software are backed with the same security and encryption system adopted by most banks that can protect sales and other data from potential hackers. Most developers of this software provide backup services for retailers and keep their data on a secured server site.

If you want to grow your business and handle several branches, adopting online point of sale software is definitely the right and sound decision. This type of application will not only help you boost sales and prevent customers from walking out, but also will allow you to analyze sales and manage your sales inventory more efficiently.

8. Enterprise-like application at a fraction of cost
In the past, an enterprise system such as ERP, CRM costs up to million of dollars for big corporations. However today, we can get a system like this for less than a tenth. Information is king and all these are made possible with online systems. Not to mention point of sale, accounting, marketing applications.

9. Better Customer Service
With up-to-date sales and stock numbers always at your fingertips, customer interaction becomes much more informed. Integrated stock control means that you experience less stock outs, avoiding customer disappointment which can have a hugely negative effect on return business and word-of-mouth recommendation.

If an item is out of stock, the shop keeper can check on the POS system whether a nearby store has the item in stock. Stock counts and manual adjustments can also be performed in store in real time, so a returned product can be available for sale to another customer immediately. The revised stock level is visible in all connected stores as soon as any change is made.

10. Potential for Higher Sales and Cash Flow

The common myth is online point of sale system is expensive. In fact if you were to do the math, it reduces the company’s expenses in the long run. Transportation costs, including trips to suppliers or multiple business locations, are minimized since the orders and reports are available online. Client information may be saved in the program, making it easier for the business owner to customize its service and products specific to individual consumers’ needs. Consumer satisfaction boosts chances of multiple purchases and as a result, increases sales.

Internet-based software for point-of-sale transactions can be a valuable business investment if the right program is chosen. With the suitable features, a company can easily organize its documents, improve its sales and reduce expenses.

Boosting sales, achieving efficiency and satisfying a lot of customers are among the primary objectives of most entrepreneurs operating retail stores, restaurants, gift shops and boutiques, among other businesses. One of the tools that could enable them to meet such goals is online point of sale software, also known as online POS software. Aside from making sales computations much easier, an online POS application could offer a lot of benefits to small- and medium-sized businesses.

To know more about Web Based POS System please visit: www.inspirepos.com.sg