For some retailers, the idea of reinventing their cash register is ludicrous. After all, why change something that has been working for years? You might say "sure, a new system may run a little faster or more efficiently, but won't it be more expensive to install and maintain? Plus, we need to train all of our employees oh how to use it." If that is your mindset, you are misguided, and it could end with your business avoiding a more helpful path.

A recent in-depth report from Digital Journal examined all the reasons why a merchant should consider upgrading their point of sale system, specifically focusing on upgrading POS software to a cloud-based system.

"The benefits of transitioning from a traditional cash register system to a modern POS system are hard to understate," the article reads. "Indeed, as much as anything else, utilizing a POS system is a sign to staff, customers and competitors of a well-run, progressive business. Whilst those stores that obstinately refuse to change may, for a time, have a kind of quaint retro chic, they are ultimately doomed to be outstripped by the kind of business that understands that it needs to evolve in order to prosper."

Benefits of the cloud

Operating out of the cloud brings with it a number of benefits that help businesses run more effectively. The article goes into depth on each of these features that make a cloud-based POS system the best option for merchants. They include:

  • Fast transaction times
  • Better customer services
  • High usability
  • Shrinkage control
  • Information hub
  • Remote access and monitoring
  • Reporting
  • Data collection

On top of that, there is the cost effectiveness of using the cloud instead of a traditional system—something any new solution is measured on.

"Another benefit of taking advantage of modern systems is the reduction in the need for maintenance work and the downtime caused by breakdown," the article reads. "POS systems are more reliable and cheaper to repair than their predecessors. In addition, labor costs are usually one of the biggest bills facing any business, and a modern system will enable staff to work more efficiently."

Incorporation of mobile devices

One of the hottest trends in retail payment systems is the incorporation of mobile devices as a POS location. This rose to prominence when the Apple retail store rolled out the use of iPods and a specially designed case to act as a mobile POS system. Associates were able to scan barcodes, add services, swipe cards and send receipts all through the devices while connected to the secure wireless network. If the customer wants to pay with cash or print a receipt, no problem. Each device is connected to a cash draw and printer.

Over the last few years, more companies have started to incorporate this kind of approach. As users are already comfortable with smartphones and tablets, the learning curve of implementation is reduced. On top of that, third party peripherals are turning tablets and smartphones into the cash registers that can work from any locations.

With a cloud-based POS system, merchants are able to keep all sales and inventory information in a singular location. Pairing it with secure POS software makes a cloud system the obvious future for merchants.