Restaurants and retail establishments are some of the busiest businesses you can own. Time and money represent constant areas of focus and concern. An integrated payment system can reduce the burden. When you implement an integrated POS payment solution, the benefits start flowing almost immediately.
1. Reduce Your Payroll Needs
With a non-integrated POS system, you spend time and money on accounting processes that an integrated system manages automatically. Setting up the initial process takes time and expertise, but you avoid many of the accounting costs for which you would otherwise have to hire for basic bookkeeping services.
2. Avoid Human Errors
People make mistakes. An errant punch in a 10-key or a missed entry carried between systems makes a big difference in your accounting numbers. A fully integrated payment system avoids these mistakes by handling the numbers for you.
3. Accept More Payments
An integrated POS system works more quickly and efficiently for you, giving you the ability to process more payments, both in-person and online. Over the course of a busy day, this gives you access to greater revenue than you can otherwise achieve.
4. More Customer Options
Your customers can pay in more currencies and through more platforms, than ever before. The best integrated POS systems let you accept payments across the spectrum. Your customers can even split checks and pay together with less hassle than more traditional systems allow.
5. Better Customer Experience
With quicker, simpler options available for payment, your customers experience a smoother payment process. Greater customer service remains a critical path to improving sales and revenue, so your integrated POS helps you grow.
6. Greater Efficiency
Efficiency comes by doing things faster, cheaper, and better. An integrated POS gives you all of this, saving time and money for your retail or restaurant business.
7. Smoother Scaling
A non-integrated system creates barriers to growth. An integrated, online POS system lets you grow without requiring heavy new investment, and contract without the frustration of wasted money. You can scale up and down efficiently with the natural ebb and flow of your business.
8. Improved Employee Productivity
When your employees can focus on their direct jobs, you get more done. An integrated POS system keeps you from diverting team members to accounting functions that reduce productivity.
9. Automated Compliance Updates
Payment systems demand that you comply with federal, state, and local regulations, as well as with payment industry standards. Keeping up with this can be a full-time job by itself—unless your POS system provides compliance monitoring and updates.
10. Better Payment Security
Non-integrated payment systems leave gaps between different functions. An integrated system maintains holistic security measures that remove those entry points that data thieves could otherwise exploit.
Payment technology has improved dramatically in recent years. If you invest in an integrated payments system now, it lets you keep up with new improvements, improve your revenues and costs, and build a more effective, efficient, and profitable retail or restaurant business.