If you’ve ever wondered about mobile POS systems, you’re onto something great. POS systems have evolved much in recent years, and now provide versatile, affordable, and effective tools to thousands of businesses all over the world. These systems are often cloud-based, making them secure and accessible even when there’s not a terminal available.
ALSO READ: How the Coronavirus Is Affecting the Global Financial Market
Above all else, they’re portable, meaning they can be taken anywhere or used throughout the store. This eliminates the need for static registers and pushes retail stores and other businesses into a new era of payment processing. Here, we’ll cover some of the benefits of these systems and why you should consider acquiring one for your business.
Easier Payment Processing
Payment processing is something customers expect to be quick and seamless. No one wants to stand in line for several minutes while an outdated cash register struggles to process a credit card transaction. Let’s be honest; the old systems were cumbersome, slow, and downright frustrating. Digital integration transformed payment processing and continues to improve it.
Mobile point of sale systems process payments of all kinds in seconds. From credit and debit cards to cash to touchless payments, however your customers prefer to pay, you’ve got them covered.
ECommerce Integration
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If you’re running a retail store with an eCommerce site, you’ll want your inventory management and payment processing on both ends to be accurate and synchronize seamlessly. If you’re using two different systems, this can be nearly impossible to achieve.
Mobile POS systems can integrate with your eCommerce site and help synchronize everything under one program. Your on and offline operations will be united, up-to-date, and inventory will always be accurate across all platforms.
Removes Limitations of Traditional Registers
Traditional registers were very much limited to processing payments and making change. Even the more “advanced” systems didn’t do much more than track inventory and sales. Mobile POS systems have removed these limitations and expanded the capabilities of payment processing systems.
You can pretty much run 80% of your business from your POS terminal. Marketing, payment processing, employee and customer management, and inventory management are all accounted for in your POS software.
Fees and Taxes Are Included
When you process a transaction in your POS software, you can set the tax rate manually so that all of your taxation is automated. Additionally, the fees that your POS provider takes out of each transaction (if their structure is set up that way) are also automatically deducted from each transaction.
Many POS companies charge a monthly premium instead of a per-transaction fee, and still fewer charge a one-time fee for the software and hardware. The fee structure depends entirely on the company selling the product, so be sure you’re aware of it before you commit to a purchase. Generally, smaller businesses opt for the per-transaction structure fee until they start bringing in higher sales volumes.
Easy to Set Up
Most POS systems are incredibly easy to set up. If you’re using your own hardware, it’s usually a matter of simply logging into your interface or app. If you’re using the POS hardware provided by your POS provider, there may be an initial set up process, but after that, it’s easy to use.
This makes POS systems perfect for companies that need a quick solution to their POS needs. Sometimes, software can take months to learn, but POS software is intuitive and easy to use.
Inventory Management
One of the best features of modern POS software is its ability to track inventory in real-time. This makes keeping track of your stock, orders, online orders, returns, and sales completely autonomous. You won’t have to worry about performing manual counts or continuously finding errors in your inventory.
These kinds of errors are costly and take up a lot of time to address, so why not leave them to a system that’s designed to handle inventory? Your customers will thank you for more accurate inventory, as well.
Customer Management and Relationships
Lastly, POS software helps with customer management and improving relationships. Many POS systems integrate with CRM software, and some even have CRM software built-in! Improving sales and attracting new customers is easy with POS software, and you can collect personal information, track customer purchases, and send promotions via email.
The Take-Away
Mobile POS software is quickly becoming the standard of payment processing, and with its countless other benefits, it will soon be a necessity for businesses of all kinds. You don’t have to purchase POS software to see how it would work with your business, as many POS providers offer free demos/trial versions.
Don’t wait to get ahold of this incredible software! There are hundreds of providers and versions available and at varying prices. Most monthly premium packages fall at around $100 or below for the lowest-tier.
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