One of the most important decisions you make for your business is the selection of a point-of-sale payment system. While many of the options you select will depend on your specific needs, most businesses can benefit from a cloud-based POS system. It reduces your risk and increases your efficiency, giving you less to worry about while you run your business.
More Efficient Transactions
A cloud-based system opens your possibilities to accept a variety of payment forms. Instead of relying solely on cash or even credit card payments, you can take mobile payments, contactless payments, and even online payments processed directly through your system. You can save time and energy with every transaction, process more transactions over the day, and even split transactions between payment forms to accommodate multiple customers or one customer using two different forms together.
Easier to Use
Often, traditional cash register systems are complex. Your staff may take weeks to train and become fully comfortable with the number of keys, the placements, the labels, and the general process of using the device. Cloud-based POS systems today are much easier and more intuitive. You can boot up the system and be using it comfortably the same day. This saves you not only time in getting up and running but valuable staff hours that might otherwise be spent on sunk training costs before you can process any transactions — and thus before you can bring in any revenue on the system.
Reduces Human Errors
Simpler systems lead to fewer errors in the sales you process. The benefit of error reduction reaches beyond individual sales, though. A standalone cash register requires you to match up transactions and transfer information to manage your accounting processes. Cloud-based POS systems integrate much more smoothly with your bookkeeping and accounting systems, running the numbers along the way. This gives far fewer opportunities for the mistakes people make every day transferring information by hand. Your entire accounting system will run more smoothly and accurately.
Regulatory and security compliance will never be stationary targets. If you run a standalone POS system, you need to track changes in the law, technology, and compliance standards to keep up to date. In a cloud-based system, these updates come regularly and automatically. You reduce the risk of missing an update or failing to meet PCI standards. This eliminates much of the time, energy, and error rate you might otherwise expect, giving you peace of mind and a better run business.
You have many decisions to make in selecting a payment processing partner for your business. Look for a company with experience running a cloud-based POS system, with a communicative, responsive customer service team to help you get up and running smoothly. The savings it can provide your business make it almost always the right choice.