8 Ways a Mobile POS will Stimulate your Small Business Success
Cash registers have been around for the better part of 150 years. Over time, the traditional chunky electronic point-of-sale system has become as much of a hindrance as a help to retailers. That’s why more and more small businesses owners have made the switch to working with mobile POS apps like Loyverse since the mid-2000s.
On the whole, these apps are more flexible, cheap and low maintenance than their large-machined cousins. The SME industry has seen many technological changes over the years. What’s particularly special about iPad and android mobile POS apps that’s causing this new global trend to spread so fast? How do they practically help shop owners grow their small business? That’s what we’ll be discussing in this article.
Mobile POS Apps Facilitate Better Customer Service
The heart of any small business is customer service. It is the center point by which all other aspects of business success can be measured. It's now common to see cloud based POS systems together with an in-app, or integrated customer program such as loyalty ocean to facilitate this care.
Talking about mobile POS, the key word is definitely mobile. You can mount your tablet POS system on the front counter, or employees can roam the store. This means for certain customer questions, the employee doesn’t have to run over to a distant computer to check, for example, if a product is in stock. It also adds a certain more personal and up front vibe to your relationship.
Nevertheless, the reality is that customer satisfaction is not just a one-time experience. This is where a modern point of sale software really shines, utilizing its CRM features to record customer data and accounts. This is of great interest for any kind of small business looking for effective marketing and communication strategies to develop genuine customer relationships. Oh, that's everyone then…
So, are you a PC or a Mac? There are areas where this question is still relevant, but not so much when it comes to POS apps. This technology is often what’s called device agnostic, meaning it’s designed to perform optimally on most devices. Naturally this gives you more flexibility in your technology choices. Let's say you have PC infrastructure set up on your store’s back end, but you really like the iPad’s looks and functionality. You can still use an iPad POS system with minimum fuss from an IT perspective.
The Popularity of Loyalty
Loyalty programs are also now taking to retailers everywhere, allowing them simplicity in rewarding buyers. Naturally being ‘in’ with this kind of tech development implemented effectively is a great opportunity to differentiate from competitors- the borderline between success and failure.
It’s absurd how much POS software there is to choose from now. Which one you choose ultimately depends on your unique business requirements. Here’s a comparative list of 264 different POS apps to help you decide.
Better Analytics Means Better Decision Making
So far we have seen some of the advantages of using a mobile POS system, but there is still clarification needed before we can say we fully understand why they offer much more than an ordinary cash register. One way to establish greater judgment is to deduce how well a single product can deliver the essential point of sale activities whilst converting them into further useful statistics. This is where some of the most awesome aspects of POS apps kick in.
The best POS systems come with robust reporting packages to give you accurate sales figures in a flash.
In addition to simply totalling transactions, you can usually filter sales by date, item ID, customer, employee and more. These tools allow you to take apart and investigate sales to figure out what’s selling and what’s not, and how you can alter your strategy accordingly.
The only constant in business is that nothing is constant. Your store may grow gradually over the course of several years or it may sprout overnight. In the question of new locations, infrastructure costs are always a tricky part of the equation. How many new POS units will you need? Is the cost justified? You'll be happy to hear that the cost of a touch screen cash register is considerably lower than the traditional electronic unit, even when taking into account the cost of the app plus the device (which you may already have).
Furthermore, such apps are flexible and often designed to go hand in hand with your development, taking the example of Loyverse’ multi shop functionality. Importantly, they're very good at collating data from new stores as you expand.
Inventory Management to Keep you Composed
Having your sales process synced and stored on the cloud gives small business owners full knowledge about their stock at any time from anywhere. This can help save large amounts of money from potential losses from excess or shortage of inventory... Nice! Many shopkeepers appreciate their smartphone or tablet POS systems sending notifications when a product is running low, providing opportunity for spontaneous orders and a constantly updated inventory.
Employee Management Provides Greater Unity
With a simple and intuitive interface, with a unique pin, employees can easily log in to the system to attend the customer. The POS records all this data so you can evaluate individual employee performance and adjust the payroll accordingly- we’re speaking about ‘employee of the week’ or other extra incentives and cuts.
No Connection? No problem
Despite 50% of global population now being online, losing your connection is no excuse for losing out on a sale. So it’s handy that many cloud-based POS apps allow you to continue selling without internet. Using the example of Loyverse POS, when you regain connectivity the app will send all transactional data to the cloud, updating both your financial and inventory totals.
Using a mobile devices for your small business POS is more than just a hype, it’s a practice already being adopted in even the furthest, least developed corners of the world. It’s a smart solution that fits with receipt printers, barcode scanners, cash drawers and credit card readers- there’s nothing new regarding POS hardware.
On the whole, using an android or iOS mobile POS application will stimulate your small business to succeed in terms of scalability, responsiveness to customer needs and perhaps most importantly in helping you to analyse and forecast a constant business growth cycle.
With all this info digested, it's now time to take the next practical steps to driving your business success. Read about developing your brand here.