POS Warehouse, Blog

The Future of POS Systems

Photo by Rob Bye on Unsplash

Photo by Rob Bye on Unsplash

We can see traits of tomorrow’s POS systems in today’s technology. Popular brands like QuickBooks demonstrate the integration and variety future POS systems must continue to develop. As Cloud migration changes the way businesses choose and use software, the software itself must adapt to take advantage of new opportunities and the advantages of borderless enterprise. As the Cloud’s role expands, the demands hardware must support shrink. If the coming years follow this trend, hardware will continue to grow smaller as storage and applications move to the Cloud. New payment methods are entering the marketplace, and with them come new challenges and customer expectations. POS systems have a lot of new obstacles to overcome, and new technology can help them overcome.

Cloud Migration

Cloud migration refers to the practice of moving data, applications, and even services from on-site servers to the Cloud. SaaS products are already leading this trend, and they epitomize the benefits of migration. These products allow rapid changes, provide excellent adaptability, and often come with additional data storage. Because the Cloud makes storage and computing far easier, it makes sense to take advantage of these features for promotional bonuses.

Many POS systems already take advantage of the Cloud, either for storage or even regular service. By keeping information in the Cloud, it’s available to all points of sale, regardless of where the hardware goes. This makes managing sales from multiple locations and utilizing mobile points of sale far easier. The Cloud removes the extra step of compiling information from these various sources, because they’re all working through the same system, no matter how far apart they are geographically.

Varied Payment Methods

Customers no longer just buy products they can afford. They also buy products they can purchase through their chosen payment method. Many online shops lose customers who refuse to provide credit card information without the protective screen of PayPal. Payment brands are just as influential as product brands, and they use that brand name power to direct customers’ spending habits.

POS systems must keep pace with developing payment trends in order to maximize profits and retain customer loyalty. This means accepting a wide range of credit and debit cards along with cash and check options. We’ve already discussed PayPal, but many credit card companies are trying to retake the digital frontier, and now customers have options like Visa CheckOut, which rewards users with rebates and cash back. PayPal has responded to this turf war by launching its own, physical credit card. Your POS system must have the capacity to accept such new payment methods as they emerge, and adaptability is key.

Fewer POS Hardware Requirements

Businesses with heavy on-site sales still need considerable on-site tech, for the foreseeable future. However, many small businesses have learned they can cut overhead by minimizing their hardware investments. It’s easy and affordable for start-ups to use tablets rather than desktop computers in order to complete transactions. A single computer terminal, augmented with Cloud technology, can now do far more than it could before, meaning small businesses can invest in growth rather than overhead expenses. Few new businesses need on-site servers. While software continues to develop and expand its role in day to day business, hardware is becoming smaller and more manageable.

Advancing Brands Like QuickBooks

QuickBooks stands out from other POS software because it provides so many unique and integrated features. Since QuickBooks creates advanced software for more than one work application, it’s easy to integrate departments and share data. You can send data from your POS directly to your bookkeeping software without little to no effort, depending on how comfortable you are with automated functions. QuickBooks represents advanced software function in the age of borderless enterprise. It allows both on-site storage and Cloud services. Users can combine or streamline these options to cater to their individual business needs. While QuickBooks recognizes businesses who still prefer traditional POS systems, they are pushing forward through Cloud migration and all of its many benefits. Their SaaS products sit at the top of the industry, recognized by customers and critics alike. The future will see the development of more integrated brands similar to QuickBooks. Although there will always be a need for hard copies of software, the best POS systems will offer Cloud features to maximize efficiency and reduce overhead.

We’re seeing a shift in how POS systems save information and serve customers. Hard copies of software still work well for many businesses, but even these traditional POS systems have the opportunity for storage and communication through the Cloud. POS systems are all about payment options, and as those change, so must your POS. Customers no longer differentiate between online and in person payment methods, and the businesses who can cater to these desires will ultimately win more sales. How well will your POS system stand up to these demands?

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