Do You Really Need a POS System for Your Small Business?3 min read
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The decision to move to POS technology is certainly not one to be taken lightly. There are many considerations to look at, to make a qualified decision. As more and more business owners of small to medium size businesses are following the lead of the bigger corporations in using POS systems for the management of their business, what’s becoming apparent is becoming less and less about whether or not any particular business would benefit from moving to POS technology. The question that is an important one to address has to do with what’s to become of the last holdouts who, for one reason or another, stick with their time-honored system where every operational detail is handled by and tracked by humans. The question that must be answered now is “What will happen to businesses that choose to not avail themselves of the full scope that POS technology covers, by moving their operations over to POS technology.
Today’s Dictates are Fueled by Consumers
For the most part, Commerce, in its every form is going to be more rapidly transitioning more than at any other time, based mainly on the new consumer silhouette. As greater numbers of Millennials become the larger portion of median consumers, a whole lot is going to change in how everything shifts to cater toward a full-blown hedonistic, self-oriented mentality. Most next-generation property management systems (PMS,) will integrate with large third party technologies that will eventually all be POS technologies, which will include POS-run retail and members of the hospitality industry. Already, just last year, 75% of hotel operators shared that they regard being able to integrate their PMS with all their other operations such as retail and restaurant POS systems as top priority.
Where Does That Leave Cash Register Checkout Systems?
The shift will ultimately be global, as cash registers everywhere are moved out, to make way for POS terminals. Everything involved will be affected, including software along with hardware that are currently in use today to streamline business operations and sweeten the customer experience, all around. As tablets proliferate in POS technology, new requirements are being instituted to ratchet up the security of all data processed, with preventative requirements and stringent mandates for all businesses using POS. Reporting capabilities, data analysis and payment processing options are ever on the increase, with recently added chip and pin cards to e-wallet apps. Basically, it will soon be impossible to sustain a viable business without bringing in POS technology for your operations – and your customers will expect it. Businesses not utilizing POS systems will be seen as outdated and bypassed, in favor of those that do.
A Logical Next Move
The case for any small to medium sized business incorporating a POS system is an easy one to make, with much more in the area of benefits than any other preceding system. ROI is best calculated on the back end by worker productivity and efficiency – and on the front end, by the enhanced customer experience, along with opening up so many new avenues for nurturing the relationship your business has with its customers and enticing new ones, all the while. POS technology will help you run your small business, with ability to focus more on what’s in your heart – why you started it in the first place.