How ecommerce sites can rise above price-driven competition

POS Retail

Article | July 18, 2023

Delve into key trends in cloud POS technologies and understand how these payment technology trends enhances customer experiences, transactional security, and improve enterprises positioning. Introduction The retail and hospitality industries have seen an exceptional transformation in recent years, driven by shifting consumer expectations and accelerated technological advancements, where the adoption of cloud Point of Sale (cloud POS) systems has emerged as one of the most transformative innovations. These advanced cloud-based solutions are revolutionizing the ways in which businesses manage sales, inventory, and consumer interactions. The adoption of cloud POS technology is no longer a choice but a strategic imperative for businesses, especially in the retail and hospitality sectors. The convergence of mobility, enhanced security, data-driven insights, sustainability, and omni-channel capabilities makes cloud POS systems an indispensable tool for success in a rapidly evolving business space. From Cash Registers to Cloud: The Future of POS Trends for Businesses In an era distinguished by technological advancement and rapidly changing consumer expectations, businesses across numerous industries must deliver a seamless customer experience to remain ahead of the curve. As cloud point of sale technology offers numerous advantages to businesses, such as increased flexibility, accessibility, security, integration capabilities, cost-effectiveness, and disaster recovery, the incorporation of these advanced payment solutions has become imperative. Cloud based POS solutions provide an undeniable competitive advantage, and businesses must not only install them but also maintain an acute awareness of the most significant trends in this space. Here are some critical emerging cloud POS trends to keep an eye on in order to future-proof the company: Inclination Towards Mobility and Tablet-Based Solutions As businesses increasingly employ tablet-basedcloud POSsystems, the conventional idea of static, fixed-point cash registers are becoming obsolete. These solutions enable sales staff to complete transactions and provide assistance to customers throughout the store, introducing a new level of adaptability and productivity. By embracing mobility and tablet-based POS solutions, businesses not only lower wait times and improve customer experience but also streamline their processes, allowing them to respond more effectively to the changing needs of the modern marketplace. With the adoption of this trend, businesses gain a competitive advantage by refining their operations and aligning themselves with the requirements of modern consumers who value both convenience and customization. Emphasis on POS Integration Capabilities With a growing emphasis on customer data, behavior analysis, and inventory data, the integrations between cloud based POS systems and mission-critical software applications, such as e-commerce platforms, inventory management, accounting, and customer relationship management (CRM) systems, are on the rise. This trend enables businesses to dismantle data centers and create a unified ecosystem in which information flows seamlessly between all operational aspects. By keeping apprised of these integration features, businesses can lower manual data entry, eliminate errors, and obtain a broad view of their data, enabling them to make more informed decisions and enhance their overall efficiency and productivity. With this, integration has emerged as an imperative strategy for businesses seeking to flourish in a market that is becoming increasingly competitive. Rise of Omni-Channel Commerce Modern consumers expect an effortless buying experience irrespective of whether they are interacting with a business online or in person.Cloud-based POSsystems are evolving to meet these demands by integrating with e-commerce platforms, enabling consistent pricing and promotions as well as offering real-time inventory visibility across all channels. This allows businesses to provide services such as ship-from-store, returns and exchanges across channels, and buy-online-pick-up-in-store (BOPIS), which offers customers a convenient and seamless shopping journey. The rise of omnichannel commerce is more than just a trend; it is an emerging need for organizations trying to remain competitive and create consistent, outstanding experiences across all touchpoints, eventually increasing consumer pleasure and loyalty. Surge in Data-Driven Insights and AI As the demand for better customer experience continues to grow, payment technologies such as cloudPOS systemsare no longer just used for transactional applications but are also used for robust data analysis and decision-making. Using the vast quantities of data generated by cloud POS software, businesses can now obtain valuable insights into sales trends, customer behavior, and inventory management. Furthermore, the integration of AI enhances these systems by predictive inventory forecasting, resulting in facilitating advanced analytics and creating personalized marketing campaigns. In an increasingly data-centric business environment, businesses are thus focusing on adopting this cloud POS trend to make data-driven decisions that optimize their operations, improve customer experiences, and maintain a competitive edge. Personalized In-store Shopping Experiences The trend toward personalized in-store purchasing experiences represents a fundamental change in how businesses interact with their customers. This trend is a response to consumers' changing expectations, who want more than just transactions and seek meaningful interaction. Cloud based POS solutions are at the forefront of this innovation, allowing businesses to access real-time customer profiles, purchase histories, and preferences. Leveraging this information, salespersons can deliver customized product suggestions, personalized promotions, and a level of service that resonates with each customer's specific wants and aspirations. This not only assists businesses to improve the in-store shopping experience but also fosters brand loyalty and encourages repeat business, positioning them for long-term success in a customer-centric world. Bottom Lines Cloud-based systems provide enterprises with the adaptability, security, and integration capabilities necessary to remain competitive and meet evolving consumer expectations. From improved safety and advanced analytics to omni-channel commerce and sustainable practices, thesefuture trendsprovide a road map for businesses seeking success in the digital age. By staying abreast of these key cloud POS trends, businesses can position themselves as agile, innovative, and customer-focused. This proactive strategy ensures that they are not only keeping up with change but actively influencing their future in a competitive market. As a result, the adoption of cloud POS technology is no longer a choice but a strategic imperative for businesses across various sectors. The convergence of mobility, enhanced security, data-driven insights, sustainability, and omni-channel capabilities makes cloud POS systems an indispensable tool for success in a rapidly evolving customer-centric space. By embracing these key trends, businesses can deliver exceptional customer experiences and drive growth in an increasingly competitive marketplace.

POS Solutions

Article | September 12, 2023

Delve into top POS providers and their comprehensive offerings. Discover how these robust payment solutions collectively shape the trajectory of payment experiences and customer satisfaction. An extensive Point-of-Sale (POS) solution is essential in the current business environment. These solutions seamlessly integrate sales, inventory, and consumer data, enhancing overall operational efficiency. With streamlined transactions, accurate inventory management, and extensive sales analytics, businesses are able to make informed decisions, optimize resource allocation, and improve customer experiences. A robust POS solution exceeds transaction processing to become a strategic tool that enables businesses to navigate complexity and flourish in an increasingly competitive market. Thus, adopting a POS payment solution from reliable and recognized companies is crucial for businesses. From secure transaction processing to real-time inventory tracking and insightful sales analysis, a dependable POS solution provider equips businesses with the tools to enhance efficiency, optimize decision-making, and elevate overall customer experiences. Here are some of the leading POS solution providers: Toast Toast is a transformative force in the hospitality industry, empowering businesses of all sizes to cultivate exceptional teams, increase revenue streams, maximize operational efficiency, and captivate customers. The company offers an exhaustive platform encompassing point-of-sale, visitor marketing, digital ordering and delivery, payroll and HR functions, as well as restaurant-grade hardware by combining profound insight into the culinary space with innovative cloud software and restaurant-grade hardware. Toast redefines the contours of restaurant administration with its sophisticated technological suite as part of its unwavering dedication to enhancing dining experience. Lightspeed Lightspeed Commerce is a cornerstone for the organizations that constitute the core of the worldwide economy. It enables merchants to drive innovation, expedite operations, and deliver unparalleled customer experiences by providing a comprehensive commerce platform. The company's cloud-based solution integrates and harmonizes both physical and online operations, from facilitating multi-channel sales to ensuring efficient global payments and providing financing options. Lightspeed's solution is a strategic enabler for businesses pursuing growth, efficiency, and superior customer engagement when navigating the complex terrain of commerce. TouchBistro TouchBistro has established itself as a key participant in the hospitality industry by providing an integrated platform that combines front-of-house, back-of-house, and guest engagement solutions. The company assists restaurant owners in optimizing and streamlining their operations by leveraging its powerful combination, thereby reducing the need for manual tasks and augmenting the focus on customer interactions and business expansion. This advanced solution redefines operational efficiency in the restaurant industry, reinforcing TouchBistro's dedication to facilitating seamless connectivity and nurturing sustained growth for its clients. Clover A subsidiary of Fiserv, Clover Network Inc. is at the forefront of innovation with its complete, open-architecture point-of-sale system designed to meet the needs of small and medium-sized business owners. As an influential force, the company's products redefine the consumer-merchant engagement dynamics and pave the way for frictionless interactions. Through Clover, Fiserv embarks on a mission to establish a leading operating system, bringing in a new era of commerce-enabling applications and solutions designed to empower business owners in a variety of industries. Revel Systems Revel Systems serves as a catalyst for the goals of retailers and restaurants by providing a cloud-based POS and business management system. Engineered for optimal security, user-friendliness, stability, and service excellence, Revel's ecosystem surpasses obsolete legacy solutions by offering an iOS-based POS platform that combines cloud-based innovation with the mobility of the iPad. This transformative strategy positions Revel Systems as the centerpiece for businesses seeking to modernize operations and enhance consumer experiences in a dynamic market. Talech Point of Sale Talech Point of Sale emerges as the preeminent solution, providing merchants with practical and user-friendly POS software solution that is enriched with holistic analytics and deep insights. Talech is steadfast in its mission for empowering small and medium-sized businesses to improve operational efficiency and accelerate sales growth in a fiercely competitive environment. Talech intends to provide local companies with insights comparable to those available to large-scale retailers and sizeable online commerce platforms, thereby leveling the playing field for all parties. Lavu Inc. Founded on the visionary principle of utilizing technology to design products, Lavu Inc., assists in enhancing the customer experiences by providing POS system for small business owners. The company's cloud-based iPad point-of-sale system integrates the extensive functionality of traditional systems with built-in customization and adaptability powered by cutting-edge technology. This convergence positions Lavu Inc. as a dependable partner for small businesses attempting to navigate the complexities of commerce with innovation and efficiency in the lead. LevelUp LevelUp is a pioneering force in the creation of cutting-edge mobile experiences for over 200 national brands. Its mission is to equip businesses with the tools needed to cultivate meaningful customer relationships, accelerate sales growth, and develop a robust, scalable mobile strategy. The company's platform offers a flexible suite of customized functionalities, including mobile rewards, seamless native online ordering, secure payments, dynamic customer relationship management, and a variety of other features. LevelUp's unwavering dedication to innovation positions itself at the forefront of enabling businesses to cultivate long-lasting consumer relationships. MenuSifu Menusifu Inc., based in New York City, was founded in 2013 by a group of ambitious and inventive high-tech engineers to introduce next-gen restaurant POS software solution. The MenuSifu POS terminal, MenuSifu mobile apps, and MenuSifu's online order system designed for iPad, iPad mini, and iPhone have helped the company achieve prominence in a remarkably brief period of time. By balancing innovation and cost-effectiveness, Menusifu Inc. has emerged as a significant contributor in the ever-evolving sphere of restaurant technology, offering businesses comprehensive solutions to improve operational efficiency and cultivate dynamic customer engagement. Trivec Trivec is a renowned provider of restaurant-specific POS systems in the European hospitality market. Its extensive POS solutions are designed to improve the ordering and payment processes of restaurants, bars, and hotels. Trivec's portfolio comprises traditional POS systems, QR-based solutions, card payment terminals, mobile POS solutions, handheld devices, and beverage systems, among other products. Through its dedication to innovation and seamless integration, Trivec delivers a transformative suite of hospitality solutions that expedite operations and enhance customer experiences. eHopper eHopper is a global provider of user-friendly management systems committed to empowering small enterprises worldwide. With a devotion to enhancing seamless interactions and facilitating operational efficiency with customers and clients, eHopper offers wide-ranging solutions, including POS hardware, mobile POS, inventory management solutions, POS software solution, and others, tailored to the particular requirements of small businesses. By effectively addressing the operational landscape, eHopper intends to substantially lower operating costs, thereby fostering increased profitability for small businesses attempting to thrive in the modern competitive market. Heartland A division of Global Payments Inc., Heartland is a market leader in the field of payment processing across the US. It offers a range of services, including debit, credit, and prepaid card processing, powered by its cutting-edge security technology, Heartland SecureTM, and a robust breach warranty. Furthermore, Heartland provides point-of-sale systems, e-commerce platforms, mobile commerce solutions, payroll solutions, marketing tools, and various additional business services. The company plays a pivotal role in influencing modern business transactions and services, with a reach of over 400,000 business and educational locations across the country. Mad Mobile Mad Mobile is an internationally recognized technology company famous for its exceptional and scalable restaurant and retail solutions. The company specializes in redefining consumer engagement and enables businesses to transform their interactions with customers. Their one-of-a-kind platform enables the seamless incorporation of mobility into existing systems, thereby boosting sales performance and digitizing the passenger experience. As a leader in technology-driven solutions, Mad Mobile is at the leading edge of propelling innovative mobile experiences in the business environment. ItsaCheckmate ItsaCheckmate is a notable provider of an all-encompassing two-way integration solution that connects point-of-sale systems to the dynamic realm of on-demand services. This integration not only ensures a seamless transition to the evolving on-demand world but also equips businesses with robust monitoring and reporting capabilities, thereby optimizing profitability, revenue, and operational efficiency. ItsaCheckmate has partnerships with over 150 point-of-sale systems and third-party marketplaces, including industry leaders like DoorDash, Uber Eats, Grubhub, ASAP, EZcater, and ChowNow. ItsaCheckmate is committed to democratizing technology, thereby making it accessible and cost-effective for restaurants of all sizes. KwicKPOS KwicKPOS has emerged as one of the leading full-featured POS providers for restaurant management. The company exceeds hardware limitations by integrating diverse clientele requirements onto a unified platform, displaying the qualities of intelligence, fluidity, and efficiency. KwicKPOS revolutionizes the course of restaurant operations by providing a broad range of features, including POS, kiosk systems, online ordering, CRM, Kitchen Display Systems (KDS), marketing tools, delivery services, and cloud-enabled features. This robust solution improves administration and increases profitability, making it an indispensable asset for enhancing restaurant performance. Bottom Line In the vast tapestry of contemporary commerce, the function of cloud POS systems extends beyond the mere facilitation of transactions. These top 15 POS solution providers collectively aim to enhance payment experiences, leveraging their individual strengths. By entrusting their payment requirements to these POS solution providers, companies can emphasize their core operations, secure in the knowledge that their technological foundation can adapt and expand alongside the business. As businesses navigate an ever-changing environment, the profound impact of these providers becomes apparent; an integration of technology, competence in business, and consumer-centricity that collectively alters the trajectory of commerce itself.

POS Retail

Article | August 17, 2023

Last July, a small group representing the giants of the tech industry gathered in the seat of US government, Washington DC. They probably didn’t want to be there. Congress had summoned their employers Apple, Facebook, Google, and Amazon to answer questions about the command they hold over the markets they operate in. On Amazon’s behalf, associate general counsel Nate Sutton spoke in defense of his employer’s role in US retail. Throughout, he argued that Amazon isn’t so powerful as to be able to control prices and stifle competition. Amazon, he pointed out, makes up less than 1% of retail globally. In the US, it accounts for around 4% of retail. In fact, Walmart is much larger than Amazon, he said. In terms of sales, Sutton is right. Walmart reported $510 billion in total sales across its US and international segments in the 2019 fiscal year, versus Amazon’s $233 billion in roughly the same period.

Article | February 10, 2020

Whatever your feelings are towards Amazon, there is no denying that they have revolutionised ecommerce and now set the bar for the personalised experience of users when it comes to online shopping. So much so that it was recently reported that they have more than a 30% share of the UK’s ecommerce market. With statistics like this, it may feel like it is impossible to compete, especially as Amazon has huge tech and marketing budgets at its disposal. However, all is not lost. It is possible for SMEs to learn from the forerunner and implement some of their most successful techniques, with regards to their use of ecommerce personalisation and AI, to increase sales cost effectively.