What is a cloud-based Point-of-Sale (POS) System?
These are POS systems that are easily accessible anywhere and via mobile. The great thing about cloud-based POS systems is that you get live sales data feed at your whim, and all of these type of POS system run a web-bases reporting style that is easily accessible from anywhere in the world. Every cloud-based POS provider are required to keep their clients on the loop of new security updates, new technologies, instant upgrades and whatever else you need over the next few years of your business.
Another great thing about these POS systems is the easy integration where you can implement loyalty programs, rewards, gift cards, payments and more into the cloud-based platform compared to the few Windows-based POS setups.
How does it integrate into an old system?
Typically, a lot of businesses would like to replace their Windows-based POS system when their system experiences a virus or hack. The re-installation cost of Windows, the POS and the drivers are more than what a brand new POS system would charge, so looking for options is the way to go. Besides, in two years’ time, it is expected that VISA, Mastercard and American Express, according to the recent press release, that they will take some responsibility on the cost of goods bought with a stolen card – only for those businesses that applies the latest technology for card processing. So it is expected that an impending upgrade is needed.
Cloud-based system vs Traditional system
Traditional POS systems charges the business owner of a software license fee when they register and then comes the yearly maintenance fee of 18-20% for software upgrades. Sometimes, these fees do not cover any support and training, which can be really a downer. What if the system crashed and you need to get the POS system to work because you are in the middle of a transaction with your customer. Every minute counts and losing out on sales because no expert was able to assist you is not really an option. Another thing with the traditional POS systems is if you are no longer happy with the purchase, say in less than a year or a few months perhaps, you have already paid for the full cost upfront.
Is the migration from a traditional POS system to a cloud-based system easy?
The fact is, it is hard to migrate other POS system to a new one, but there is easy solutions to that – export the entire list of inventory as well as customer information to a spreadsheet and then send to the provider. A reputable cloud-based POS company can import the data into the new account as soon as an account is setup. That way, the business can then run again quickly with little delays. Typically the migration would not cost you any extra fee.
Look around and check out the different cloud-based point of sales system being offered in the area, especially when the business is located in Singapore. It wouldn’t hurt to check out your options before you make your decision in changing to a cloud-based POS system.