We live in the times of the internet where anything and everything is available to an individual at the push or click of a button. The internet not only made things easy and more accessible but also increased the level of competition in the market. Running a business using the age-old brink and mortar model is now obsolete. To stay ahead in the game one needs to book a seat in the online chariot. On top of that, web-based POS systems and their ever-increasing popularity should also be taken into account.
One might think that with the everyday sales and the constant flow of revenue, they are doing fine without integrating the services of web-based POS in their e-commerce site. Statistical data speaks otherwise as it is seen that e-commerce sites who integrated cloud-based POS systems in their businesses have reached record-breaking sales and popularity.
What is a Point of Sale System?
A point of sale in generic terms can be defined as the end point where the completion of a retail transaction takes place. Cloud-Based Point of Sale System is a bit technical, and it is defined as software that is integrated into an e-commerce site for carrying out POS services safely.
Web-based POS systems are independent of operating system and platform limitations. They are designed to be compatible with a wide range of hardware that includes mobile devices and tablet computers as well. Traditional POS systems use a lot of peripherals like barcode readers, display units, etc. Web-based POS systems do not need such external hardware to function properly. The camera of a Smartphone can act as a barcode reader and in-built NFC technology instead of external cards for making payments.
Importance of Web POS in Your e-Commerce services
Businesses are a bit wary about abandoning their traditional POS systems and moving operations to cloud-based POS services. The following points might paint a clear picture why it is beneficial for a business:
Elimination of Human Error
Manual addition and updating of order data or calculating available stock is a tedious task that needs a lot of focus. Mere 1% marginal error in calculations can leave a firm with thousands in lost revenue annually. Integrating a cloud-based POS system with your business assists business owners to make error-free calculations with ease.
Reduction in Revenue Loss
A web-based POS system can evaluate and track a product in every step of its projected life-cycle till it reaches the end point, viz. the hands of the consumer. The collected data can be used to determine:
- Reasons for lost revenue
- Flaws in production, distribution, and handling
Web-based POS systems automatically enter sales information directly into the company inventory thereby removing the need to look for inconsistencies.
Easy Tracking of Return on Investment (ROI)
Another critical feature of web-based POS systems is their ability to generate sales reports for practical analysis of currently running marketing campaigns. It helps in determining the best selling products, convincing deals, best pricing structures and many more. On top of that, web-based POS systems also enable business houses to optimize their marketing and sales processes to improve their profit margins.
Optimized Checkout Process
Integrating web-based POS services in an e-commerce site significantly speeds up the checkout process for its customers. It also allows the company to store more data that can be used to provide incentives to the repeat customers for their loyalty.
Since the market trend is fiercely competitive these days, it is crucial always to be in-sync with the changes to stay ahead of your competitors. The benefits of integrating a web-based POS system are many as enunciated. Although the integration might call for a significant amount to be spent, it will be a one-time investment. The increase in sales and the lower losses in revenue will surely make up for the amount spent on a POS system.
To know more about ecommerce services, be sure to consult virtual assistants companies or an ecommerce service provider if you truly want to succeed in the online store business.