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Operating On a Cloud-Based Point-of-Sale System

Many businesses are launching cloud-based POS technology.

Most companies have a point-of-sale system in place that can accommodate all their transactional needs without complicating financial organization or performance. Some businesses are starting to recognize the many benefits associated with migrating these technologies into the cloud, like so many other business applications and communication portals. Just as transferring data-sharing and unified communications to a cloud environment has greatly improved efficiency and productivity for many organizations, so too has making point-of-sale information available to all users connected to the network.

Having point-of-sale information and capabilities accessible on smartphones, tablets and other mobile devices can make it easier for employees to complete tasks on the go without being tied down to a desktop computer or office location. Live sales data is available on-demand, which enhances information sharing accessibility across all departments in real time. Decision makers can run reports on financial performance from any location through the web-based data portal that can be easily integrated into existing systems and infrastructure.

While it can be a challenge to transition from one point-of-sale system to another, many will understand the benefits of the change within a short period of time. Traditional point-of-sale systems are vulnerable to common desktop issues and threats such as viruses, requiring a long and arduous recovery strategy. In the cloud, the point-of-sale system is able to back up and recover information almost instantly, avoiding the hassles associated with reinstalling an operating system and drivers. Many credit card providers are also implementing new services that increase protection of cards that may be stolen, which will only work with merchants operating on updated systems, Entrepreneur reported.

Evidence of cloud POS benefits
A coffee shop in New York City known as the Laughing Man recently decided to migrate to a cloud-based point-of-sale system to make it more cost-effective to handle transactions throughout the facility. The mobile system can be operated from an iPad or other device and offers the owners a faster, easier and more affordable form of checkout terminals along with advanced supporting applications and features. The coffee shop has cited significant improvements in efficiency and productivity as a result of increased reporting and inventory controls that help keep costs at bay and all employees informed of data in real time.

In an interview with Street Fight Mag, the owner of the Laughing Man, David Steingard, discussed the many benefits of his cloud-based point-of-sale system versus traditional systems and applications. He explained the solution is significantly more affordable than traditional systems and the options available to him were much more customizable and could to grow with the needs of the business. Because the coffee shop handles significantly less inventory and customers than a large supermarket, Steingard felt comfortable paying for the amount of features and capabilities appropriate for his company, rather than investing in a traditional one-size-fits-all solution.

One feature in particular, the inventory control application, of the cloud-based point-of-sale solution has surpassed Steingard's expectations. The inventory controls on the mobile system allow Steingard and his employees to add inventory, pricing, track inventory and generate reports on sales and percentage of sales from a single dashboard. The interface is user-friendly and is easily integrated into a mobile app. When information is added by one user, it is instantly updated so other devices and users have access to the information as it is entered into the system.

Having more time to tackle other projects and duties within the company is one of the many benefits Steingard enjoys after implementing the cloud-based point-of-sale system. How could transitioning to a mobile solution improve your company's productivity?

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