POS Solutions, POS Retail
Article | January 12, 2024
Alice POS offers a multitude of advantageous features for retail merchants. These can lead to concrete improvements in store, which can be felt in time gained or even in increased revenue. In this article, we will explore the ways Alice POS can help you do that.
We will section off this article into 4 roles to give you a clear overview of the features:
Sales: Optimize Your In-Store Sales
Control: Completely Track your Store
Growth: Expand your Business
Multi-Store: Manage your Franchise Efficiently
Alice POS is a cloud-based point of sale system designed for store networks such as franchises, purchasing groups, and corporate networks. Alice is also an excellent starting point for individual stores looking to gradually scale their operations for future expansion. Alice POS was developed to help increase business revenue while also diminishing the workload of operations.
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POS Solutions
Article | February 15, 2024
Prior to the pandemic and quarantine, less than 8% of commerce was online. As of Q3FY20 eCommerce grew north of 14% of all commerce. So while the Retailpocalypse was in its last phase, physical retail still outsold eCommerce by at least 7:1.
The failure rate of crowdfunding campaigns is 85%.
The failure rate of eCommerce store owners ranges from 80 to 97%.
What if there were a way to bridge the gap between these three failure rates? What if we could bridge what people consume online with what they purchase offline before waiting for brain-computer interfaces (BCI)? In short what if we could bridge social and commerce? (Example use case.)
Mostly missing are the memorable, meaningful, measurable and monetizable responses from people interested in stories about beagles, princesses and pitbulls, pets, car repair, raspberry blueberry vinaigrette gyros, budget-saving techniques for holiday travel, getting stuck at airports in blizzards, rental cars and Cup o’ Noodles, My Fair Lady and @Instacart, dining out at the delicious Banana Leaves café, cooking kosher halal gelatin-free, blue #1 artificial dye-free egg nog flavored marshmallows, 50th anniversaries and chocolate ganache, adventures camping with youth groups, birdhouses built by kids, rainbow hair dye, artificial dye-free cakes DIY for your child’s birthday party, and Halloween gingerbread houses and Greek Mount Olympus costumes.
Other than ad revenue Youtube collects which most of it’s video posters see little of, monetizing the DIY craze has proven quite tricky. Ditto for Christmas shopping, smartphone accessories, buying a new luxury Subaru online with no salesman, how to get hard to find contact lenses and vitamins for kids, how Amazon often has thrift store prices on inventory thrift stores rarely carry, the challenges of buying clothes on Amazon that don’t fit but you don’t realize that until the clothes arrive, DIY car repair, funny car repair, glorious victory of car repair, diaper cakes and muscle aches, drones and honey scones, Triple A baseball and blue-tailed skinks, favorite foods, fasting, and Boston, fused vertebrae and buried treasure, where to buy school supplies when most stores are sold out, creameries and charcuterie,
Bridging social media with eCommerce has been the white rhino of many investors and start-ups for many years.
Instead of working toward such solutions, we have VC’s and stockholders asking about vanity metrics:
- How many people looked at your website? Instead of: How many people subscribed or how many purchased an item?-
- How many downloads per month does your app have? Instead of: How many of the people who downloaded your app have note removed it less than 30 days later?
- What’s your ad revenue? Instead of: How can your product capture or create more value?
In reply entrepreneurs answer these questions, they often present their increased spend on marketing followed up with vanity milestones:
“We’re using Google Analytics and similar providers to track every movement of the supply chain, to ensure when the purchaser’s journey is completed, there’s no delay in delivery. This will lead to more frequent purchases ideally of higher priced products, and…
We are pitching to Chipotle on Friday!”
This leads to concentrated research on Chipotle’s SWAT, followed up with an excellent pitch including a demo via Zoom.
The result of this pitch is usually:
1. The person loved the pitch and accepts your invitation to meet again with his/her manager next week.
2. The person you pitched to is not the decision-maker
3. The person you pitched to doesn’t quite understand what you’re pitching
4. The person you pitched to had 3 other projects due by COB and wasn’t fully present and listening to your 10-minute pitch
5. You provided too many facts too quickly, trying to build rapport
6. You shared how you’re product can reduce shrink, increase ROI, decrease costs, increase retention, and cure cancer. The person you pitched to doesn’t believe all those promises.
7. The person you pitched to is afraid of advocating change; the risk from change that results in lesser results can lead to negative repercussions. The risk of “business as usual” is minimal.
Forgotten by almost all eCommerce platforms and store owners are the facts that:
- People behave differently when they are observed (best behavior vs. average behavior). Despite this, we are seeing an incredible number of start-ups that offer to help track everything your customers do. “We’re Palantir for eCommerce” is essentially the ethos of these companies.
- The Paradox of Choice by Barry Schwarz – too many choices overwhelm the person making the choice, to the point that no decision is made. If you don’t train your mind to buy what you want even if you have to look on pages other than Amazon and Google Shopping, you might end up buying the product you almost wanted.
- The concept of incentivized virality – when PayPal gave $20 to each person who referred another person who joined, and when DropBox offered free data storage to people who referred friends who joined – which Reid Hoffman and Chris Yeh brilliantly detailed in Blitzscaling:
The Lightning-Fast Path to Building Massively Valuable Companies.
So now each eCommerce platform tries to copy Amazon who built their model on the opposite of physical retail. Consider your last experience renting a car at an airport vs. Amazon:
- Do you want to refill the gas tank or would you like us to?
- Would you like liability only or more comprehensive types of insurance coverage?
- Would you like a GPS?
- Would you like to join our exclusive members club? etc., etc.
Adding to what @ElevateDemand said, “ B2B marketing is broken,” Raj De Datta, CEO and cofounder of @Bloomreach said, “The future of B2C marketing looks like B2B marketing,” Kevin Marasco, CMO of @Zenefits correctly said “marketing is going back in time from B2B to B2C” or person to person.
Smart speakers in every phone, tablet, laptop PC, TV, and car succeeded by BCI, which @Facebook and @Neuralink are pioneering, hold great potential. Until those products arrive or after their R&D phase, @Homemaide’s object recognition and image recognition models can provide the sorely needed bridge between Social and Commerce.
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Ecommerce Merchandising
Article | March 18, 2024
Embrace the future and need of business operations with cloud-based POS systems. Experience unrivaled features such as unparalleled flexibility, scalability, real-time analytics, and more.
Introduction
Key Reasons for Businesses to Switch to Cloud-based POS System
• Accessibility and Mobility
• Flexibility and Mobility
• Scalability
• Improved customer experience
• Cost saving
Introduction
With constant evolution in payment technologies, businesses are constantly looking for innovative ways to streamline their operations and improve their bottom line. As a result, innovative payment solutions are increasingly playing a crucial role in enhancing their transforming and upscaling businesses. One such technology that has revolutionized the way businesses operate is cloud based POS systems.
A significant transition from traditional POS systems to cloud based POS systems has been witnessed in recent years. Businesses worldwide are increasingly deploying cloud-based point of sale systems to adapt to emerging payment technologies, improve customer experience, enhance payment security, and others.
According to a study by SalesForce, more than 20% of retail businesses currently use a cloud-based POS, and around 29% of businesses plan to deploy it in the coming future.
Key Reasons for Businesses to Switch to Cloud based POS System
Payment processes are presently propelled by connectivity and technological advancements, which have resulted in a significant impact on the payments industry. Consequently, it has become imperative for businesses to adopt point-of-sale systems powered by agile, cloud-based software to harness the full benefits of modern cutting-edge technology.
Deploying a cloud POS system can guarantee optimal customer experience to businesses while remaining aligned with the rapidly evolving technological landscape.
Here are the primary reasons why businesses should contemplate the adoption of a cloud based POS system:
Real-Time Accessibility
In today's fast-paced business environment, the ability to access real-time data is crucial. Cloud based point of sale systems allow businesses to access data from any device with internet access, enabling real-time inventory management, sales tracking, and customer insights. This real-time data accessibility empowers enterprises to make informed decisions, optimize operations, and improve customer experience.
Flexibility and Mobility
Cloud POS solutions are highly flexible, making it easier for businesses to adapt to changing needs and ecosystems. Leveraging a POS system, businesses can quickly and easily add or remove products, update pricing, and make other changes to their inventory. Furthermore, with the accessibility from any location, these cloud based POS systems enable employees/ staff to work remotely. These capabilities are especially useful for businesses that sell seasonal products, experience fluctuations in demand, or have multiple locations.
Scalability
With legacy POS systems, businesses need to invest in new hardware to expand their operations, which can be costly and time-consuming. However, cloud-based POS systems offer businesses the flexibility to scale up or down their operations without worrying about upgrading their hardware. In addition, businesses can seamlessly add new locations, products, and users without any hardware upgrades.
Improved Customer Experience
Cloud based POS systems for retail enable businesses to provide a seamless customer experience by allowing employees to access customer data from any device with an internet connection. This allows businesses to personalize their offerings, offer faster service, and resolve customer complaints quickly. The ability to access real-time data also enables businesses to anticipate customer needs and preferences, allowing them to provide tailored promotions and recommendations.
Cost Savings
Businesses need to invest in expensive hardware and software, as well as pay for ongoing maintenance and support while using a legacy POS system. Switching to a cloud POS system can result in significant cost savings for businesses. As these POS solutions require minimal hardware and software investments and often come with a low monthly subscription fee, businesses can save on maintenance and support costs, as these are typically included in the subscription fee.
Bottom Line
A cloud-based POS system with seamless integration offers an extensive business overview and can perform operations much more than accept orders and payments. Not only does it streamline services, but it also provides insightful data and simplifies day-to-day business management, allowing business owners to focus on development.
It is evident that combining day-to-day operations with cloud-based POS software is now a critical requirement for businesses. In addition, the technological evolution of these systems in recent years and the possibilities for continuous development have made point-of-sale data, inventory, staff, and payment management much easier for businesses.
Since the world is becoming increasingly digital, it is imperative that businesses adapt and adopt cloud based POS systems to remain competitive and relevant. Therefore, businesses should consider the benefits of cloud based POS systems and make the switch to ensure long-term success and growth.
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POS Retail
Article | May 20, 2022
Digital innovations make a significant impact on the payment business. Point-of-sale is one such innovation that eases the payment mode. Traditional POS systems face several obstacles, such as data storage on local servers, higher upfront payments, limited access to the data, and higher costs. On the contrary, a cloud-based POS system is easier and offers more agility and access, making the payment process seamless and less time taking.
Customer expectations are constantly changing regarding seamless online and offline payment processes. Cloud-based POS systems ensure the best possible customer experience while staying relevant to the rapidly evolving technology. Making the lives of the customers easier is the primary goal of the payment service provider.
Deciding Between Getting a Traditional or A Cloud-Based POS System?
POS software has improved over the past decade, and many firms have hopped on the POS system bandwagon. There are different types of POS systems available, and you may get confused, especially if you are new to POS.
Purchasing a POS system is a long-term investment and should not be made without extensive research and knowledge. It would be best to compare the pros and cons of traditional and cloud-based POS options. Identify your business's needs and select the right POS system.
On-site or existing POS is an old method. The data is stored on local servers and in closed networks. It is commonly known that standard POS systems can be complex and time-consuming. Also, installing large hardware adds to the cost of getting started. If you use older methods, you might be able to access data on-site, but you could lose it.
A cloud-based POS is easy to use and easy to get to. The cloud-based POS system is adaptable and can easily add new modules or apps from other corporates. The software is rented by the month or year. Methods that use the cloud allow mobile access which means you can leverage the functionality of mobile POS without fully implementing a mobile POS system. POS software that runs in the cloud is also automatically backed up.
Cloud-based POS software offers incredible benefits for your business.
Reasons for Opting for a Cloud-based POS System
Cloud POS Systems Are More Secure
A cloud-based POS system lowers all types of risks due to stringent security standards. Cloud technology allows the POS software to automatically backup the data and sync via remote servers. The regular updating of the system increases the security level of the software.
Remote System Access
Switching to a cloud-based POS system allows you to access your back-office functionality from anywhere. This capability gives you the ability to receive important updates regarding inventory or vendor issues on your mobile or home computer. You will also benefit from the security of cloud backup for your data.
Cost-effective
Cloud-based POS may appear to be more expensive than conventional POS systems. Nevertheless, cloud-based technologies are preferable for SMBs. In contrast to traditional POS systems, cloud-based SaaS has no upfront costs and has low monthly rates. Automatic software updates are delivered, and the system can update itself.
Better Customer Service
Cloud POS is compatible with various payment options and can send invoices through email or SMS. This enhances the purchase experience for your brand's customers. Customers interested in simple technology like simple processes are thus satisfied with the commercial services a POS system delivers. By choosing a cloud-based POS system, you'll always be able to meet customer needs quickly. Also, remember that you can get updates, which are meant to change some features to fit how people use them.
Conclusion
We’ve seen a few reasons that why you should consider transitioning to a cloud-based point-of-sale system, but the list is unlimited. If you have not considered implementing a point-of-sale system, now is the time to do so. The most prominent upside is that a sound POS system facilitates sales and increases the capacity to attract more clients.
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