Point of sale systems have come on leaps and bounds in recent years, and one of the more recent innovations is moving from traditional off-premise software to cloud-based platforms. Essentially, with the on-premise software model, you purchase the licenses to install software on your system. With the cloud-based model, you access your software via the internet.
There are arguments on both sides, but most businesses will find themselves better off using a cloud-based point of sale system, and here are just five good reasons why.
1. Reduced Downtime
Even the most sophisticated software can sometimes develop problems, but these problems are significantly easier to deal with when you followed the cloud-based model. If anything goes wrong, the issue can be solved remotely through the internet. This saves you money, and, more importantly, it ensures issues are sorted quickly to minimise downtime.
2. Lower Costs
One of the main issues with traditional point of sale systems is that software licenses can be expensive. You'll generally pay one upfront fee followed by annual maintenance fees—and that doesn't even include the costs associated with keeping the system running properly. With cloud-based software, you only have to deal with a low monthly fee, and you always have the freedom to cancel and move on.
3. Peace of Mind
With cloud-based software, your vital data is stored securely off-site. That means you don't need to worry about running out of space. More importantly, it means your data is secured behind multiple layers of protection that enjoy 24/7 monitoring. All data is saved instantly, so you'll never need to worry about security issues or data loss. When the latest security patches come out, your system will be automatically upgraded.
4. Instant Access
Because all of your data is instantly saved to the cloud, managers are able to track transactions as they happen. And if you want to place orders or update prices, you can do so instantly and from anywhere. All you need is an internet connection.
5. Easy Analytics
One of the key advantages offered by modern point of sale systems is the ability to track and analyse data in increasingly sophisticated ways. You can quickly and easily see what is selling and how customers are shopping, then use that information to your advantage to increase sales. Cloud-based software makes this simpler, since your data is constantly updated and can be synced directly to analysis platforms.