5 POINT OF SALE TREND YOU CANNOT MISS IN 2022

January 12, 2022 | 167 views

Point of sale (POS) software is a critical corporate tool that has been well-known as an upgraded alternative to the traditional cash register. This system provides your business with management capabilities like loyalty programs and an improved shopping experience. According to a report carried out by Grand View Research, the worldwide POS terminals market is projected to attain nearly $126 billion by 2027. Here is a point of sale trend list that you will benefit from.

You should adopt this point of sale trend. More and more firms are using POS software that allows for quicker checkout time. People tend to have more than a location they wish to drop by. When they visit your store and buy something, they desire to spend as little time as they can, particularly when doing a checkout.

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Retail TouchPoints

Our mission at Retail TouchPoints is simply to provide executives in customer-facing roles with relevant, insightful content across a variety of digital mediums. While research has shown a significant shift by retailers towards investment in customer-facing technologies, a surprisingly high number of retailers still don’t have a CRM strategy they are satisfied with or a program to build or measure customer loyalty.

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POS RETAIL

Impact of Cashless Transactions on Third-Party Payments

Article | August 12, 2022

In recent years, with the progression and development of information technology and the Internet, the third-party payment platform has experienced immense up-gradation. This has resulted in facilitating people's lives to a great extent and simplifying and transforming the method of payment. With the accelerated advancement in the era of the Internet and the significant rise in the scale of third-party payment transactions, in comparison to the conventional mode of payment, these solutions have substantially increased people's consumption power by not only making operations more convenient and reducing transaction costs, but also by safeguarding the rights and interests of both parties. Shift Towards Cashless Transactions Bolstering the Third Party Payments There is a rapid shift towards the use of cashless point-of-sale (POS) solutions, driven by the growing digitalization. According to a study, nearly 82 percent of the population in the U.S. are using digital or cashless payments—defined to include in-app or browser-based online purchases, QR codes, in-store checkout using a mobile phone, and person-to-person (P2P) payments. Citing the trend, about 27% of consumers and around 32% of business owners said they believe the U.S. will become a completely cashless society in the coming future. Third-party payment solutions add functionality to the cashless transactions and act as payment aggregators, providing freedom and flexibility to customers to select the solutions they find most favorable to meet their financial needs. Therefore, with increasing cashless transactions, third-party payment solutions will gain huge traction across the POS sector. What’s Next? With the improvement in the urbanization level, the continuous growth of the urban population, and the appeal of third-party payment solutions, it is crucial to tap into the spending potential of customers. Hence, leading POS solution providers are emphasizing on development and introduction of new third-party and mobile POS systems. For instance, Paynear Solutions Pvt. Ltd., a financial technology company, announced the launch of a third-party omnichannel cashless solution under an umbrella through a mobile PoS solution, enabling all the business owners signed up with Paynear to seamlessly accept UPI transactions.

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POS RETAIL

8 POS Software Trends for 2022: New Forecasts and What's Next 2

Article | December 24, 2021

When the pandemic first started, most retail stores had to close, and some even suffered financial losses. Know more how retailers up scaled their businesses. Online shopping is quickly becoming the new norm in the wake of the COVID-19 pandemic. Most retailers had to migrate their businesses to the cloud in order to meet the current demands of highly tech-savvy consumers, and the use of POS software has become more important than ever. A cloud-hosted POS solution is no longer an option for small and large businesses, but rather a requirement. POS systems have provided retailers with a more efficient way to track inventory and manage sales, replacing the old cash register and traditional methods of selling. As ecommerce grows, POS solutions play an important role in increasing convenience for online customers and providing a customer-centric experience. To keep up with the latest POS system developments, there is a list of the most important POS software trends to watch for. By understanding current POS software adoption reports and key insights, you can maximize the potential of your existing POS solution or, better yet, have better ideas on financing trends by POS that can bring value to your retail business. Consumers had to reorient their purchasing toward needs like food, medicine, and other home items as the viral pandemic threatened everyone's health and safety. The US Census Bureau recently released a report that found that throughout the pandemic, retail stores providing food and beverages saw the biggest monthly growth in retail sales. To better understand how POS systems are assisting retailers in overcoming the challenges posed by the rapidly changing retail landscape, here’s a list of the most recent and importantPOS software trends: Cashless Transactions via Mobile POS Systems Adoption of Cloud-Hosted POS Systems Multichannel Commerce Customer Layout Programs Personalized Shopping Experience AI Integration in POS Systems Use of POS Data Analytics Simple POS Hardware Investing in modern POS systems and maximizing their rich feature sets can help your retail business go a long way, from attracting new customers to retaining a loyal customer base that can drive sales and support your long-term growth.

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POS RETAIL

Point-of-Sale Systems to Emerge as a Necessity for Modern Retailers

Article | July 8, 2022

Innovative POS systems with built-in advanced inventory management and secured payments to mandate their adoption by retailers. For businesses and retailers, conventional cash registers have long been an important part of sales operations during the past few years. But today, the cash registers of even the smallest of businesses are attached to a computer through "point-of-sale" (POS) systems. These novel solutions have garnered huge popularity over traditional cash registers as they not only ring up the sales but also provide crucial and real-time information about the customer and inventory. The importance of POS systems goes way beyond managing transactions at checkout counters across the retail industry. Emphasis on Improving Customer Experience Demands POS Adoption: With a growing fast-paced lifestyle, customers around the world are opting for faster, and more convenient shopping and billing experiences. Reassuring customers that their transactions are secure significantly increases satisfaction and customer loyalty. Since novel POS systems assist in providing faster checkout, flexibility in payment options, highly secured payments, and a seamless billing experience, these POS systems are extensively being adopted by modern retailers. According to a study, retailers across the U.S. lose nearly $45 billion, due to insufficient inventory in stock, and $224 billion, due to excess inventory. POS systems help in managing the inventory, resulting in declining losses by preventing excess or insufficient inventory. An estimate states that, an independent retailer with a $400,000 revenue can cut costs by nearly 10%, saving an average of $40,000 per year. What Comes Next? With technology getting better and new POS solutions like cloud-based, mobile, cashless payment, and others coming out, retailers are extensively installing POS solutions to make it easy for customers to pay. For instance, Veras Retail and ACCEO Solutions Inc., an American company specializing in all types of electronic payment transactions, announced plans to install their respective payment middleware solutions and point-of-sale software solutions in National Stores locations across Puerto Rico and the U.S. Hence, the growing focus on enhancing in-store customer experience and customer retention is mandating modern retailers to deploy POS solutions.

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POS RETAIL

Retail Industry Forecast for 2022

Article | July 8, 2022

While retail has faced its fair share of challenges over the last two years, the pandemic has also provided an opportunity for a long-overdue great retail reset, which could help many retailers move into a more stable—and profitable—position. To get there, you must balance short-term challenges with long-term commitments and transformational thinking. For nearly two years, predictions about the future of retail have appeared pessimistic, and retail headlines for 2022 don't look much better: empty store shelves, over one million unfilled retail jobs1, and surging inflation. However, these headwinds have resulted in some positive outcomes: retailers have been forced to re-examine legacy systems and strategies that have shaped the industry for years. To reap long-term and long-lasting benefits, retailers should continue down the remediation path they started at the start of the pandemic in 2022. Indeed, the next 12 months’ present opportunities to restructure obsolete supply chains, rightsize inventory management, review pricing, rebalance promotional cadences, and reinvent the physical store for the digital age. This will almost certainly necessitate entirely new ways of thinking and long-term commitments from retailers, but these efforts have the potential to forever change the way retailers do business. That future begins today by addressing short-term retail challenges with a long-term perspective. Three retail industry priorities and trends The resulting data, when combined with insights from 15 Deloitte retail subject-matter specialists, client work, and prior research, provides a snapshot of strategies and investment plans that help inform the industry's future. Reimagine the workforce Supply chain resiliency Digital revolution Retailers face significant challenges that will almost certainly outlast the pandemic, but there are also unexpected opportunities that can help them prepare for future disruptions. Retailers should embrace the current disruption and commit to a future pivot. To learn more, download our complete 2022 retail industry outlook.

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Spotlight

Retail TouchPoints

Our mission at Retail TouchPoints is simply to provide executives in customer-facing roles with relevant, insightful content across a variety of digital mediums. While research has shown a significant shift by retailers towards investment in customer-facing technologies, a surprisingly high number of retailers still don’t have a CRM strategy they are satisfied with or a program to build or measure customer loyalty.

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ERP

Long County, Georgia Selects Springbrook's Cirrus Cloud ERP Financial Platform

Springbrook Software | October 04, 2022

Long County, GA is the latest local government agency to move from an on-premises solution to Springbrook's Cirrus Cloud Financial platform. The platform is designed from the ground up specifically for small to medium sized local government agencies. The town is utilizing Springbrook's fully integrated Cirrus Cloud ERP suite including Utility Billing, Finance, Cashless Payments, Municipal Payments and Cash Receipts.Long County sought a robust and secure ERP that could scale as their projected needs grow over the next few years and selected Springbrook after reviewing several other market offerings.b Springbrook fulfills our needs and will provide our citizens with the modern experience that they demand, says Bernice Johnson, Finance Director of Long County, GA. Springbrook is actively working with many small to medium sized municipalities in the southeast. The flexibility of the Springbrook cloud platform provides local government agencies with superior protection against cyber-attacks, the ability to work from anywhere, and will enable the County's personnel to effectively run their entire administrative operation safely from any browser. Cirrus is a true cloud-based system that does not require downloading any additional software for access. "We have invested a tremendous amount into building an entirely new platform with the goal of bringing the most powerful cloud-based solutions to small and medium sized municipalities. We are solely focused on this market segment and have been for over 35 years. Springbrook is constantly expanding our solution suite to deliver new and innovative products, like Advanced Capital Budgeting and Mobile Work Orders. Our goal is to make it as easy as possible for local agencies do their jobs efficiently and securely," Robert Bonavito, Springbrook CEO. About Springbrook Software: Springbrook Software is the country's leading cloud-based finance and administration software provider designing solutions specifically for small to medium sized local government agencies. Nearly 2000 cities, towns and districts from coast to coast use our suite of modern, high-performance solutions to manage their finances, payroll, utility billing and collect citizen payments. Springbrook is headquartered in Portland, Oregon with regional presence in over 40 states, and seven countries internationally. About Long County, GA: Located in southeast Georgia, Long County occupies 400 square miles of the Atlantic Coast Flatwoods. The county is bordered by Liberty, McIntosh, Tattnall, and Wayne counties, and its entire southwestern boundary runs along the Altamaha River.Long County, designated in 1920 from lands in Liberty County. Long County, historically and currently, is a rural, agricultural area. The principal farm crop was once cotton, but by the 1970s it had been replaced by tobacco, corn, soybeans, and cattle. The pine forests of the region have always played an important role in the economy.

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POS RETAIL,ERP

McHenry Makes the Change to Unanet GovCon ERP

Unanet | September 16, 2022

Unanet, the leading provider of project-based ERP and CRM for the government contractor (GovCon) and architecture, engineering and construction (AEC) industries, today announced that the McHenry Management Group (TMMG), a systems and maintenance engineering company which provides design and development for government agencies including the Navy and Coast Guard, plans to replace its sunsetting legacy system with Unanet GovCon ERP.Familiar with Unanet's capabilities and customer service from working with the solution at two previous firms, Jeffrey Estes, CFO at TMMG, immediately suggested Unanet when TMMG learned its existing software wasn't going to be supported in the future. Estes declined a different program offered by the competing software company, and instead was confident that Unanet could provide the detailed and robust reporting functionality so project managers could make financial decisions that will grow individual contracts and ultimately help steer the company toward expansion. "We saw more than 30% growth in our firm in one year, and we knew we needed to enhance our reporting capabilities with Unanet in order to navigate our company, With Unanet's versatile reporting capabilities, we can grow our project managers into leaders that understand ultimately how to positively impact TMMG's overall bottom line." "McHenry Management Group (TMMG Founded in 2008, TMMG has more than 200 employees and manages diverse GovCon projects in the U.S. and internationally that specialize in asset, life cycle management, industrial operations and program management. TMMG has already started an implementation plan while the firm continues to expand its design group and has found that Unanet's solution provides a variety of options for contract reporting and their customer service team has been extremely responsive "Unanet's commitment to customer service is very important to me," said Estes. "Unanet listens to us and responds quickly when we have a question or a challenge." More than 2,000 fast-growing GovCon companies like TMMG select Unanet GovCon ERP because it has the right mix of functionality and accessibility, while also offering the ability to scale and grow seamlessly. About Unanet Unanet is a leading provider of project-based ERP and CRM solutions purpose-built for Government Contractors, architecture, engineering, construction, and professional services. More than 3,700 project-driven organizations depend on Unanet to turn their information into actionable insights, drive better decision-making, and accelerate business growth. All backed by a people-centered team invested in the success of your projects, people, and financials. For more information, visit www.unanet.com. About McHenry The McHenry Management Group (TMMG) provides senior level maintenance engineering services to commercial and government clients and is a recognized leader in enterprise level program management, change management and process improvement programs. Focused on providing innovative and cutting-edge solutions to challenging program level problems, TMMG brings deep expertise in Condition-Based Maintenance (CBM), Reliability-Centered Maintenance (RCM) and maintenance engineering process improvements. TMMG assists customers (including U.S. Navy, U.S. Coast Guard and Amtrak) with the world's most complex maintenance challenges resulting in significant productivity advancements.

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ERP

Childers Oil Selects iRely for Its New ERP System

iRely, LLC | October 03, 2022

iRely, LLC, an innovative partner providing enterprise software for the energy and soft commodities industries, announces Childers Oil has selected iRely as their partner of choice for its Wholesale and ERP software solution.Childers Oil Company is a family operated business based out of Whitesburg, Kentucky. Founded in 1966, the company's roots are in providing bulk petroleum services to retail and industrial customers. Since their inception, they have become a major player in the Kentucky, West Virginia, and Tennessee markets, with a mission to provide innovative, first-class products and services to customers in the Southern Appalachian Region. During their Business Process Review (BPR), Childers Oil and iRely identified improvement opportunities and the right set of software modules for Childers' wholesale distribution business, co-creating a software and implementation program to fit their needs. Childers Oil was particularly interested in iRely's intuitive user interface, Power BI integration, and the cost savings tied to iRely's Intelligent Document Processing program. iRely's reporting capabilities and Power BI integration will help us see data that is relevant to our industry and company. This is really what gets our team excited," shared Lucas Trent, IT director at Childers Oil. "Knowing that iRely has a long-term ownership agreement was very important to us. We wanted a stable product from a stable, long-lasting company. "We are very excited to welcome Childers to our customer community, Using our cloud-based software can provide enormous benefits to Childers as they automate their accounting and are able to quickly consolidate financials and generate detailed reports on their business." Justin Houck, iRely Director of Sales. Childers Oil is one of several organizations recently added to the growing iRely customer base. About iRely: iRely's commitment to customer success has made the company a global leader in digital transformation, providing best-in-class software for commodity management, energy distribution, retail, grain operations, and agribusinesses. iRely has leveraged its deep industry experience to build lasting partnerships, delivering end-to-end enterprise resource planning (ERP) and commodity trading and risk management (CTRM) solutions to their global customer base.

Read More

ERP

Long County, Georgia Selects Springbrook's Cirrus Cloud ERP Financial Platform

Springbrook Software | October 04, 2022

Long County, GA is the latest local government agency to move from an on-premises solution to Springbrook's Cirrus Cloud Financial platform. The platform is designed from the ground up specifically for small to medium sized local government agencies. The town is utilizing Springbrook's fully integrated Cirrus Cloud ERP suite including Utility Billing, Finance, Cashless Payments, Municipal Payments and Cash Receipts.Long County sought a robust and secure ERP that could scale as their projected needs grow over the next few years and selected Springbrook after reviewing several other market offerings.b Springbrook fulfills our needs and will provide our citizens with the modern experience that they demand, says Bernice Johnson, Finance Director of Long County, GA. Springbrook is actively working with many small to medium sized municipalities in the southeast. The flexibility of the Springbrook cloud platform provides local government agencies with superior protection against cyber-attacks, the ability to work from anywhere, and will enable the County's personnel to effectively run their entire administrative operation safely from any browser. Cirrus is a true cloud-based system that does not require downloading any additional software for access. "We have invested a tremendous amount into building an entirely new platform with the goal of bringing the most powerful cloud-based solutions to small and medium sized municipalities. We are solely focused on this market segment and have been for over 35 years. Springbrook is constantly expanding our solution suite to deliver new and innovative products, like Advanced Capital Budgeting and Mobile Work Orders. Our goal is to make it as easy as possible for local agencies do their jobs efficiently and securely," Robert Bonavito, Springbrook CEO. About Springbrook Software: Springbrook Software is the country's leading cloud-based finance and administration software provider designing solutions specifically for small to medium sized local government agencies. Nearly 2000 cities, towns and districts from coast to coast use our suite of modern, high-performance solutions to manage their finances, payroll, utility billing and collect citizen payments. Springbrook is headquartered in Portland, Oregon with regional presence in over 40 states, and seven countries internationally. About Long County, GA: Located in southeast Georgia, Long County occupies 400 square miles of the Atlantic Coast Flatwoods. The county is bordered by Liberty, McIntosh, Tattnall, and Wayne counties, and its entire southwestern boundary runs along the Altamaha River.Long County, designated in 1920 from lands in Liberty County. Long County, historically and currently, is a rural, agricultural area. The principal farm crop was once cotton, but by the 1970s it had been replaced by tobacco, corn, soybeans, and cattle. The pine forests of the region have always played an important role in the economy.

Read More

POS RETAIL,ERP

McHenry Makes the Change to Unanet GovCon ERP

Unanet | September 16, 2022

Unanet, the leading provider of project-based ERP and CRM for the government contractor (GovCon) and architecture, engineering and construction (AEC) industries, today announced that the McHenry Management Group (TMMG), a systems and maintenance engineering company which provides design and development for government agencies including the Navy and Coast Guard, plans to replace its sunsetting legacy system with Unanet GovCon ERP.Familiar with Unanet's capabilities and customer service from working with the solution at two previous firms, Jeffrey Estes, CFO at TMMG, immediately suggested Unanet when TMMG learned its existing software wasn't going to be supported in the future. Estes declined a different program offered by the competing software company, and instead was confident that Unanet could provide the detailed and robust reporting functionality so project managers could make financial decisions that will grow individual contracts and ultimately help steer the company toward expansion. "We saw more than 30% growth in our firm in one year, and we knew we needed to enhance our reporting capabilities with Unanet in order to navigate our company, With Unanet's versatile reporting capabilities, we can grow our project managers into leaders that understand ultimately how to positively impact TMMG's overall bottom line." "McHenry Management Group (TMMG Founded in 2008, TMMG has more than 200 employees and manages diverse GovCon projects in the U.S. and internationally that specialize in asset, life cycle management, industrial operations and program management. TMMG has already started an implementation plan while the firm continues to expand its design group and has found that Unanet's solution provides a variety of options for contract reporting and their customer service team has been extremely responsive "Unanet's commitment to customer service is very important to me," said Estes. "Unanet listens to us and responds quickly when we have a question or a challenge." More than 2,000 fast-growing GovCon companies like TMMG select Unanet GovCon ERP because it has the right mix of functionality and accessibility, while also offering the ability to scale and grow seamlessly. About Unanet Unanet is a leading provider of project-based ERP and CRM solutions purpose-built for Government Contractors, architecture, engineering, construction, and professional services. More than 3,700 project-driven organizations depend on Unanet to turn their information into actionable insights, drive better decision-making, and accelerate business growth. All backed by a people-centered team invested in the success of your projects, people, and financials. For more information, visit www.unanet.com. About McHenry The McHenry Management Group (TMMG) provides senior level maintenance engineering services to commercial and government clients and is a recognized leader in enterprise level program management, change management and process improvement programs. Focused on providing innovative and cutting-edge solutions to challenging program level problems, TMMG brings deep expertise in Condition-Based Maintenance (CBM), Reliability-Centered Maintenance (RCM) and maintenance engineering process improvements. TMMG assists customers (including U.S. Navy, U.S. Coast Guard and Amtrak) with the world's most complex maintenance challenges resulting in significant productivity advancements.

Read More

ERP

Childers Oil Selects iRely for Its New ERP System

iRely, LLC | October 03, 2022

iRely, LLC, an innovative partner providing enterprise software for the energy and soft commodities industries, announces Childers Oil has selected iRely as their partner of choice for its Wholesale and ERP software solution.Childers Oil Company is a family operated business based out of Whitesburg, Kentucky. Founded in 1966, the company's roots are in providing bulk petroleum services to retail and industrial customers. Since their inception, they have become a major player in the Kentucky, West Virginia, and Tennessee markets, with a mission to provide innovative, first-class products and services to customers in the Southern Appalachian Region. During their Business Process Review (BPR), Childers Oil and iRely identified improvement opportunities and the right set of software modules for Childers' wholesale distribution business, co-creating a software and implementation program to fit their needs. Childers Oil was particularly interested in iRely's intuitive user interface, Power BI integration, and the cost savings tied to iRely's Intelligent Document Processing program. iRely's reporting capabilities and Power BI integration will help us see data that is relevant to our industry and company. This is really what gets our team excited," shared Lucas Trent, IT director at Childers Oil. "Knowing that iRely has a long-term ownership agreement was very important to us. We wanted a stable product from a stable, long-lasting company. "We are very excited to welcome Childers to our customer community, Using our cloud-based software can provide enormous benefits to Childers as they automate their accounting and are able to quickly consolidate financials and generate detailed reports on their business." Justin Houck, iRely Director of Sales. Childers Oil is one of several organizations recently added to the growing iRely customer base. About iRely: iRely's commitment to customer success has made the company a global leader in digital transformation, providing best-in-class software for commodity management, energy distribution, retail, grain operations, and agribusinesses. iRely has leveraged its deep industry experience to build lasting partnerships, delivering end-to-end enterprise resource planning (ERP) and commodity trading and risk management (CTRM) solutions to their global customer base.

Read More

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