A unified platform known as a cloud POS system gives its users access to cutting-edge flexibility and features. Your competitors are more likely to switch to a cloud-based point-of-sale system in the next year or two, which could cause issues for your business since a cloud-based POS is known to help retailers improve the customer experience and manage numerous channels. According to research, 55% of retail businesses will replace their existing POS with a cloud-based POS system within three years, and 30% are planning to do so within the following year. It’s the best time to change how you manage your point of sale and move to a more flexible point of sale system.
One of the key benefits of switching from legacy POS systems to cloud POS software is their lack of lag time. Legacy software can often be outdated and burdensome, not only in terms of its functionality but also because updates take too long! Cloud-based solutions, on the other hand, offer almost instant access with little hassle or risk of downtime during upgrades, which means you won’t miss out on business while your system gets spruced up.
With a cloud-based POS system, you’ll no longer have to deal with complicated, hours-long upgrades. Moreover, while updating the legacy POS, power outages can immediately result in data loss, and you may have to start over, rendering your POS operations. However, with a cloud POS system, each store’s data can be backed up automatically during an update, so there’s never any lost data, time, or sales. Plus, these cloud-based systems come equipped with features like remote monitoring tools that let you know how your business is doing at any given moment. There are endless benefits to cloud-based POS systems, which is why businesses are increasingly shifting towards technologies based on the cloud.
The Benefits of Choosing a Cloud-Based POS System
POS systems are becoming increasingly popular, but what exactly is a cloud-based point of sale system? A cloud POS operates on the basis of cloud hosting, which means that your software and data are hosted remotely on highly secure servers in an encrypted format, accessible only to the authorized end-user via the web from any location. Cloud-based POS systems enable you to work from any location that has an internet connection. Let’s discuss the benefits.
24*7 Remote Accessibility
The cloud offers simplicity and flexibility in how you access back-office features. This data was only available from terminals that were on-site with a legacy POS system, which restricted its utility in cases where inventory or vendor issues might need to be handled right away. Everything is remotely accessible with a modern cloud-based POS system using only an internet connection! It’s a guarantee that you can effectively manage your point of sale operations and business operations from any location.
The cloud storage space offers a safe haven for all your data, and you can take advantage of it on the go! You’ll be able to access what has been stored in the last instance without worrying about missing any vital information. Plus, with mobile compatibility, you can be on the floor with your employees and interact with customers to handle their issues and get feedback instantly. Just bring your laptop to the floor and stop being glued to your office chair.
Get Empowered with a Mobile POS Through Cloud
Just imagine a scenario. Your store is packed on Black Friday or any holiday sale, and you’re running low on active POS terminals. Your associates are working as quickly as possible to check everyone out, but there are only two POS terminals available for use. During these situations, having more mobile terminals like employees with a mobile POS in their hands with cloud-based systems could make life easier for you, your business, and your employees, as the other employees can help customers check out using a mobile POS. This will save time for your customers and make them feel valued, which will have a positive impact on them. For your customers, you’ll be a store with exceptionally excellent customer service, even during the busiest holiday seasons.
Consider taking on a larger space and upping your inventory offerings! A cloud-based POS system will empower you to collate and update the critical data quickly so that when it comes time to expand or buy out another store to grow, it will be a cakewalk for you as far as data transfer and management is concerned. If you’re considering opening a second location, having your cloud-based point of sale system will save time and money. The best part is that it enables access from any computer or smartphone because there’s no need to open the software on the device on that particular store. You can monitor all the store locations, collate data, and track sales, an employee’s performance, pricing inventory, etc., from one screen. While it’s true that cloud-based point of sale systems are usually easier to integrate with other technologies, like QuickBooks, you could also use integrated software to track your inventory and sales data while increasing customer engagement through coupons or digital marketing campaigns across all social media channels.
Easy to Manage and Maintain
Cloud-based POS systems are a godsend to retailers. Not only do they eliminate the maintenance headache, but you can update your entire chain of stores at once with one installation! The downside? During installations, there’s always some sort of software outage, so make sure everyone has their backup plan ready just in case the software doesn’t function for some time. With a cloud-based POS system, you won’t ever have to worry about your terminals falling out of sync. All updates and changes made in the company’s online portal apply instantly across all associated hardware, such as registers or checkout counters, ensuring that everyone working for this business stays on the same page with their work tasks at hand! Moving your point of sale system to the cloud allows you to get remote technical support for it when needed. This means that instead of waiting for costly technician visits to your store for maintenance, you can just manage the health of your cloud-based pos system remotely across locations.
In many ways, a cloud-based POS system can come across as more expensive than legacy software. You’ll need to pay monthly for the services, whereas some old-fashioned legacy POS software can be purchased all at once. However, you can’t go wrong with a cloud-based POS system. You’ll enjoy lower upfront costs and easier installation. Your software vendor will also provide remote support for maintenance, which means you won’t need to employ any specialized staff or bring technicians into your store, saving money in both cases (and allowing you more time to spend on other aspects of the business).
No business can instantly shift from a legacy POS to a cloud-based POS system; it takes time, money, and energy. Also, at the same time, most businesses are shifting from on-site POS systems to cloud POS software if you consider the statistics provided at the start of this blog. Thus, delaying in deciding to transform can hamper your growth.
Feeling apprehensive before deciding on a change is quite common. Nonetheless, the cloud-based POS system’s flexibility makes the process much more comfortable. On top of that, if you have a solution provider like FTx Global, that’s just the ingredients of a seamless transition. FTx Global has been in the industry for more than a decade, has experience in developing legacy and cloud-based POS systems, and has helped many businesses upgrade their point of sale from on-site to cloud-based.
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With the growing demand and popularity of retail point-of-sale system among retail owners, cash registers have become a thing of the past. Modern POS systems have helped retail business owners in speeding up payment services and provide real-time insights about customers’ purchases and inventory. These systems also provide extra functionalities and simplifies routine retail operations.
It is essential for retail owners to adopt a modern point of sale software for retail store to do great business and stay ahead of their competitors. In this cutthroat global environment, it’s all about the customers and how businesses can serve customers and predict their needs. There are several innovative ways which helps to attract and retain customers. Retail owners should make it a point understand what attracts customers, what compels them to act and how to anticipate consumer trends.
How a Modern POS System Looks Like?
Retail owners should opt for a modern retail POS as it allows faster checkout and promises customized shopping experience. Managing transactions on a routine basis is an indispensable part of their business; therefore, it becomes necessary for them to invest in an efficient POS system. The Pos system for retail store features different software designed to track & manage data and handle everything in your store, making retailers’ life easy.
The best thing about modern point of sale software for retail POS systems is that it helps in carrying out different tasks on various devices like laptops, tablets and mobile phones. Multiple tasks such as viewing customer orders, processing sales transactions, managing inventory and viewing role-based reports can be done using modern POS systems. With it, retailers can revolutionize store operations in an efficient manner.
How does a POS system function?
Useful features offered by modern POS system for retail stores:
- Inventory Management
It has a great significance when it comes to maintaining accurate inventory. Modern POS systems have inventory management feature that tracks the performance of certain items and markdowns items and shrinkage. Retailers can be rest assured that their store will never face problem of product shortage at any point of time. The inventory management feature offered by modern POS software helps manage inventory efficiently and monitor stock movement in the best way.
- CRM Integration
You can integrate CRM with your POS system software. This integration helps in recording personal information of customers like their product preferences, purchase history, etc. Tracking this helpful information, retailers can offer customized shopping experiences to customers and fulfill their shopping demands in the best way.
- Loyalty Programs & Gift Cards
Modern POS systems for retailers helps improve loyalty programs. Modern POS software makes it easy for retailers to track customer purchases and incorporates discounts, promotions or giveaways automatically in their transactions. Gift cards also allow customers to buy more at your store. Gift cards and loyalty programs give more flexibility to your customers when it comes to rewarding them. Also, it leads to increased sales with the passage of time. This offers a great shopping experience for customers leading to customer retention.
- Inventory Management
- Customer Facing Display
It forms a crucial part of retail industry. There are many options available in customer facing displays. Using these displays, retailers can tap in the opportunity to inform customers about their products/services and promote campaigns in an effective manner. All this combined with a smooth and hassle-free shopping experience.
- Generate Reports
Modern POS Systems offer great flexibility in creating useful data reports. You can customize your reports as per the data relevant to your store. You can also set alerts in your point-of-sale system for certain types of events in case of a major sale or meeting daily requirements. With a point-of-sale system, you can generate reports for different business aspects like sales, inventory, customers’ data and a lot more. These reports can help make critical business decisions and help you take the required steps for managing store, sales and inventory.
- Customer Service Management
Using a modern POS system, you can serve specific needs of customers in the best way. The modern point-of-sale system allows you to store customer’s information and helps in building customer profiles. There are certain platforms that offer loyalty features so that you can reward your customers. You can plan sales and promotions by using a modern POS. All useful features of the modern POS system help enhance customer experience, increase customer engagement, repeat purchases, etc. These features help retailers grow and succeed in their business.
- Sales and Payment Channels
With modern point-of-sale software, you can achieve new sales and add payment channels. This is of great help, especially in the times when technology is getting affordable, faster and better. The whole world is shifting towards e-commerce, e-wallet options and cashless payment adoption methods. For this reason, it becomes important for retailers to consider modern retail POS systems for their stores.
What are the benefits of adding the best pos systems for retail stores?
- It simplifies the complicated accounting process
- View past transactions by customers
- Ordering process can be automated
- Authorize transactions in a quick way
- Provide a detailed receipt of items to customers for their purchases
- Eliminate chances of errors as the software comes with in-built checks to ensure accuracy of the entered information
The Bottom Line
It can be said that retailers should adopt modern POS systems to ease their routine work. Using modern POS software will ensure a quick billing process, increased sales, stock management, increased customer satisfaction and better retail management.
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FTx Global (POS System)
Did you know that your company’s Point-of-Sale system is the most important tool of your entire business? A digital Point-of-Sale system or POS system offers far more than the basic functionality of processing your sales transactions.
When used in the best way, your POS system can help you market your promotional campaigns, increase customer retention, and track inventory in real-time.
Are you currently getting the most out of your POS system? Or are you failing to maximize the robust features that your POS includes?
Here are the six features you must use to get the most out of your POS system.
Engage in Useful POS System Features
Depending on the POS system you’ve invested in and installed at your store, the user interface could appear complex. Or it might be overly simplified, which causes your staff to have to tap through too many “simplified” screens to accomplish their goals, otherwise known as a real-time waster. When using the POS, your staff needs to see only relevant options for their tasks. You need to “hide” all functions and features that are not meant to be used, and present only the screens and options they will need.
Use Analytical Features to the Fullest
Your POS system should have data-compiling abilities that help you analyze popular vs. failed products, successful vs. dud promotional campaigns, loyal vs. infrequent customer purchase rates, and other information. If you don’t take the time to review the corresponding reports, you won’t be able to get the most out of this feature. Be sure to engage in artificial intelligence analytics so that you can leverage data to your advantage.
Identify & Monitor Top Selling Items
Sales, inventory and revenue data are collected within your POS system, which helps you guide in business decisions. Once you identify top-selling and less popular products and services, you can customize promotional campaigns to drive more traffic towards best-sellers. This will help you save time and efforts spent on trying to push items that aren’t succeeding.
Integrate a Loyalty Program
A most important feature in a POS system should be its ability to create, integrate, and manage a customer loyalty rewards program. Loyalty programs help increase customer retention, sales revenue, and lifetime value. When customers purchase at the checkout registers, you can encourage them to sign up for your loyalty rewards program. Once you can track their buying habits, you can offer personalized discounts that they will be likely to act on.
Protection from Theft
Theft issue is a problem for retailers, and not everyone that steals is a customer with sticky fingers or a hacker with wicked intentions. One of the biggest sources of theft comes from employees. When inappropriate POS access is granted without discretion and security measures, it can tempt employees who lack the integrity to test what they can get away with. These attempts can be reduced and protected from theft if theft prevention features are present in the POS system.
Integrate Online Sales with Your In-House Workflow
Combining an ecommerce website with your retail store lets you handle online orders. Your POS system will help you manage online sales, payment processing, and customer data collection.
Plus, having comprehensive digital capabilities must include mobile app integration if and when you launch one. Be sure that your POS system can merge your physical and virtual stores to reflect your overall sales activity.
Your POS system is integral to your operations and increasing revenue. You can keep your retail store running smoothly and grow profits by monitoring inventory, handling sales, direct marketing to loyalty members, and measuring employee productivity.
Follow these tips to get the most out of your Point-of-Sale system and receive a great return on your investment.
Are you looking to switch POS providers, upgrade your POS capabilities, or implement a new POS at your retail store? FTx POS Solutions offers all the hardware and software you will need to be up and running in no time. Our software has features for inventory management, lottery ticket management, and launch promotional campaigns with an internet connection, as we offer premium cloud-based solutions. With features like biometric security, timeclock and customizable access settings, FTx POS system helps you manage employees effectively while eliminating the risk of employee theft.
To learn more about the solutions and technologies offered by FTx Global, be sure to visit our website or contact us at any time.
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FTx Global (POS Fuel, Gas Stations)
STANDARD PRESS RELEASE
January 13, 2021
FASTRAX POS FUEL INTEGRATION
[ROCKHILL, NY, January 13 2021]
Gas station owners face many operational complexities that their POS system must be able to easily and accurately handle. These days, most gas stations sell far more than gas, and offer fueling stations, convenience store retail items, and casual dining options, and if you also offer a customer loyalty rewards program, your daily transactions could become even more complicated, especially when redeemable rewards points start to pile up.
To handle high volume of daily transactions that are processed, gas stations require fully-integrated POS systems to support complex transactional operations.
FasTrax POS is a fully customizable POS system that includes the comprehensive features your complex gas station business needs in order to save you time, money, and integration headaches, and this is why:
EASE OF USE
The FasTrax POS system has been designed with an easy user interface for your daily operations. The functionality included is fast and intuitive for your employees, and when customers are paying at the fueling pumps, the touch screen POS interface offers straightforward options and immediate processing.
Customers must be served quickly and charged accurately at your gas station, be it fueling pump or the deli counter. Friendly and effective customer service is imperative for the success of any business, including your gas station. Our POS system comes with customer service features to best support your staff.
Not all POS systems on the market have been designed with POS fuel integration features, but FasTrax POS has. The more complex your fueling stations, the more comprehensive and elaborate your POS system needs to be so that all revenue appears clearly on your accounting reports, even if you have multiple locations. Our solutions come with cash and pre-payment options, as well as the ability to track gallons dispensed and gas prices.
If you record the sales of lottery tickets using lottery management software, your POS system needs to be able to integrate and communicate with that software. FasTrax POS was built to easily merge ticket sales from your lottery management software, making it easy to pay out winners and collect commissions from vendors.
BACK OFFICE INTEGRATION
Every transaction that occurs at your gas station will need to be included into the appropriate accounting reports. These reports should include current and accurate convenience store inventory as well as the on-hand gas volume. With FasTrax POS, your front-end system will feed this information into your back-end reporting, eliminating all accounting-related headaches.
If you have multiple gas station locations, you can integrate all businesses into the same POS system, which means that you’ll require a cloud-based POS system. Without a cloud-based POS system, fast internet, and real-time reconciliations, you will never be able to stay on top of how your business is doing across the board. FasTrax POS offers cloud-based software to track, manage, and report all streams of income per location.
FasTrax’s POS solutions comes with hardware as well as software. Our POS hardware includes monitors, laptops, registers, tablets, and other devices so that you can be fully operational fast. We can deploy your entire system whether you will be using an iOS, Android, or Windows operating system.
Employees should be provided training for using FasTrax POS system in the right way. Our solutions make this process fast and easy. You can reduce manual errors and avoid an unnecessarily complicated system when you choose FasTrax, as our POS system is fully customizable. You can adjust the settings whenever required to make everyone’s life easier in the long run.
EMPLOYEE MANAGEMENT & ACCESS LEVELS
Different employees have different roles and responsibilities at a gas station. It wouldn’t be appropriate for all of them to have the same level of access to the POS system. Some information should be accessible only by managers. When it comes to overrides, if the POS system allows lower-level clerks for overrides, it would increase the risk of theft. FasTrax POS makes setting access levels simple.
If you’re already in business, then you already have all of your price books set up. You have fueling price books, convenience store price books, deli & restaurant price books, and the price books go on. This requires a comprehensive POS system to handle your multiple price books. With FasTrax POS, you’ll never have to input your pre-existing price books from scratch.
DELI & RESTAURANT MANAGEMENT
Does your gas station offer a deli restaurant? Perhaps you own several locations, each with its own menu. The POS system at each location must be connected with the central POS system, and with our software this task can be automated.
Additional FasTrax POS system features include:
- Compliance with ATEX regulations
- Less transaction times
- Convenient and real-time inventory management
Gas station owners no longer have to use multiple POS software solutions to manage their business. They can now effortlessly run their gas station with combined convenience store retail, food service, and pump control capabilities with one single POS system solution, FasTrax POS.
To learn more about FasTrax POS and its fueling integration capabilities, schedule a free demo today.
Discover all that FTx Global has to offer your business. Our hands-on services and technical solutions will put you on the fast track to increasing your revenue and building a strong brand. Contact Us any time to speak with one of our representatives.