Receiving several queries on Cloud based POS vs Traditional POS today, every single retailer is wondering what the best system for them that fulfill all the requirements.
Point of Sale software is almost ubiquitous – from the smallest stores to large retail chains. A POS system keeps a record of all transactions happening at it, with a special eye for cash flow.
Sounds simple though?
Yet, retailers are always on the lookout for a POS that can do better than a previous version – be faster, more accurate or simply, offer some extra value that can boost up the business overall as well. And provide you services that will be beneficial for your business growth and business setup that can be maintained and upgraded accordingly
The Traditional POS
A traditional POS has a computer, monitor, cash registry, a barcode scanner, a receipt printer, and one or more card machines. The system is set up in a fixed location to manage the sales from customers within a particular store. Queues usually follow the First In-First Out format and each POS can help retailers keep track of sales in that particular store.
Benefits that a traditional POS offers
POS is error-free. A POS is not going to make human errors of judgment. This is the case with all digital POS systems.
POS makes the process of checkout quicker. Since the time taken to write out a bill is replaced by just scanning the products, checkouts are faster.
At the end of each day or a sale period, one look at the POS is enough to gather metrics such as revenue, products sold, etc.
If a retailer has just one or two stores, and no presence elsewhere on other channels, a traditional POS is the best option to go with.
The Cloud Point Of Sale System
The software that runs a cloud point of sale lies in the cloud and isn’t installed on one computer. Software is hosted on a remote server that saves space on your computer and can be accessed from anywhere in the world and on any system available. There are several systems even within this category. They range from the simplest POS products to software that can double up as a retail manager. If you’re looking to sell on multiple channels, such as online, in marketplaces, in stores, etc. it is advisable that you have sophisticated retail management software.
Benefits of A Cloud-Based POS
A cloud-based POS, as we mentioned earlier, can be accessed from anywhere. Your secure login credentials can be used by you on just about any device.
A sophisticated POS system does more than being a register. It is able to dynamically update inventory with every sale you make, alerting you to potential stock-outs.
If you sell on multiple channels, such software can integrate inventory across channels, retail stores included.
Added features can help you keep track of customers and provide them with a personalized experience.
Some retail management software products go beyond just products and inventory. They’re able to integrate with services across the supply chain and offer features such as vendor management and shipping integration.
Any diligent retailer knows that accounting and bookkeeping are a rather time-consuming aspect of sales.
Eliminate the time spent in going through each invoice and feeding it into a separate system at the end of each sales period.
Cloud-based POS vs. Traditional POS – Which one to Pick?
Some cloud-based POS systems are designed for easy usage and such systems can take the guesswork out of the equation. It may seem like a lot of technical difficulties to handle. What’s more, if you’re a brick-and-mortar retailer making the big leap and going online, having a retail management software in place that integrates all your points of sale, both online and offline, can prove to be a blessing.
Today, cloud-based point of sale software goes much beyond keeping track of cash in and cash out. It offers features such as inventory handling, customer support, and engagement. In a way, it would be prudent to call them Retail Management Systems.
In a contest between cloud-based POS vs. traditional POS, the cloud variant is the clear winner. And recommend being used among organizations and businesses.