Cloud-based POS systems are the latest tools that make running businesses more convenient. It’s being implemented for both retail and online stores. It’s giving businesses convenient solutions for a range of operational and managerial processes.
POS vs Cloud-Based POS
In a traditional point of sale system, the individual terminals in a store will communicate the sales data to a central server. This server could be another computer or terminal located in the backroom of a store. This involves a lot of tedious setups, with wires and cables running from the individual terminals to the master terminal.
The revolution of cloud-based POS systems has removed the need for laying down this extensive and intricate network of cables and wires. All the data from a point of sale terminal will be uploaded directly to the cloud. This data bank will be given by the service provider. This data can then be conveniently accessed from any device. The cloud-based POS systems can also be used to keep a track of the store inventory. As opposed to a traditional point of sale system, it isn’t dependant on manual input from a cashier. This will make the checkout process much faster.
Here’s a review of three cloud-based POS systems that can help make a business more productive:
Shopify is optimized to work on both physical stores and e-commerce websites. The Shopify app can be used on Android and iOS. It’s a popular POS solution for e-commerce stores.
Pricing: Shopify offers a range of plans that are priced according to the number of services provided. Shopify plans are available at a price of $9 for Lite, $29 for Basic, $79 for Shopify, and $299 for Advanced. A higher priced plan will provide more point of sale features to run a larger business.
Inventory Management: All the plans come with features that allow you to add products and upload product information like prices and variants.
Sales Reports: This feature is available in the Shopify and Advanced Shopify Plan. It’ll track the number of products that are sold and when they are sold. This kind of sales report will allow you to predict trends and plan their sales accordingly. It’ll show the number of repeat customers and new customers coming to the store.
Sales Channels: Shopify can help you sell your products on online stores, social media pages, or at a retail store. Shopify can track the sales from all these channels and upload the information to the cloud. When an item is sold out, the information will be updated on the POS system so store owners can replenish the stock.
Extensions: Shopify can be upgraded with additional features to build a more personalized business solution. These extensions could cost additional fees.
Square POS is generally used in small businesses. It works on both Android and iOS.
Pricing: The basic POS app is available for free. Additional features can be purchased to upgrade the POS system. These additions will help to make the business easier to manage.
Inventory Management: Inventory can be added to the store and tracked. It’s possible to access the inventory from an Android or iOS device. It sends alerts via email so you can be reminded when a product is running out of stock.
Customer Profiles: It can store customer information like their contact numbers and email IDs. The Customer Relationship Management (CRM) feature will automatically add and collect information about a customer after they make a purchase.
Staff Management: With the free version, employees will get basic features for recording and calculating the price of items and issuing a refund.
Sales Reports: It has a data analytics feature that will record information on sales, customers, and inventory. This data can be studied to find out how well a product is selling, how many customers are coming back or are new, and at which hours are the most sales being conducted.
Extensions: Additional features can be bought to upgrade the free version. These will cost a monthly fee.
This point of sale system is best for medium and large sized businesses. It’s popular for its inventory management features. It’s more expensive than other cloud-based POS systems that are available in the market.
Pricing: It costs a monthly fee of $99.
Inventory Management: It offers advanced inventory management features. This will allow businesses to manage a large amount of inventory stored at multiple locations.
Sales Reports: It provides reports on sales history, customer history, and employee performance.
Customer Management: The basic software has a CRM feature that can record customer profiles. Add-on features can be used to conduct marketing campaigns and reward programs for customers.
Integrating a cloud-based point of sale system will provide modern solutions for running a business.