Home > Resources > Articles > Why Retailers Need to Adopt Cloud POS Software?

Why Retailers Need to Adopt Cloud POS Software?

Kutubkhan Bohari | August 12, 2022 | 1105 views | Read Time : 03:04 min

why Retailers Need Article
There is no denying the fact that being adaptable, smart, lean, and agile is the key to remaining profitable in today’s fiercely competitive retail space. And this requires retailers to stay technologically updated and upgrade payment solutions to offer the convenience and satisfaction customers are looking for.  

To keep up with today's customers, businesses need modern payment solutions that enable them to respond quickly to changes in the market and make it easy to sell both in-store and online. This is made possible by cloud technology. 

When it comes to B2B software as a service (SaaS), cloud point of sale (POS) software has transformed the retail business sector by providing greater flexibility, convenience, mobility, and scalability than ever before. Most POS software available today either already works in the cloud or is getting ready to do so.


Key Features Compelling Retailers to Migrate towards Cloud POS Solutions

Once thought of as tools only needed to keep track of sales records, POS platforms, especially cloud-based POS, have grown into powerful platforms in the past few years that can integrate a wide range of retail operations, such as marketing, inventory, data analytics, and accounting, among others. Here are some of the most important features encouraging retail stores to use cloud-based POS systems:


Real-Time and Centralized Inventory Management

Modern cloud-based POS solutions enable retailers to start selling online along with managing inventory after the product sale, return, or exchange of the product. It also provides reliable, accurate, and real-time information, allowing retailers to make smarter decisions, increase sales, and enhance communication for in-store and out-of-store operations. 


Flexibility to Work from Anywhere, Anytime

This is a crucial feature. Using a cloud-based retail POS solution, retailers can access vital information from anywhere in the world, at any point in time. Providing convenience is second to none. Moreover, it can assist retailers in making more insightful and faster business decisions with access to warehouse activity, individual sales channel performance, sales, staff, and customers—and benefit from clear, actionable reports.


Manage Customers from Every Channel in One Dashboard

Today, retail consumers shop locally, digitally, and cost-consciously. What's important to note is that being omnichannel is not only about making sales in all channels, but also about providing shoppers with a smooth and seamless shopping experience. This means making it as simple as possible for customers to locate your online or offline store, buy from you, interact with your business, or even return some products. Cloud-based POS solutions assist retailers in having a centralized view of their entire retail business along with managing all sales, customers, logistics, replenishment, and inventory in a single, central cloud database dashboard.


Maximum Security and Reliability

Data security and reliability are both crucial features of cloud-based POS. Cloud-based systems are far more secure than on-premise server-based systems. In the case of on-premises POS, retailers are responsible for all the security measures, making data vulnerable to disgruntled staff or external hackers. Using cloud-based retail POS, the data is stored on the cloud servers equipped robust with firewalls and security systems, providing maximum data security to the retailers.


Final Thoughts

Following the industry's initial skepticism of this new development, every retail business is likely to shift towards cloud POS today or tomorrow. Hence, leading cloud POS companies are emphasizing on launching innovative solutions to cater to the demand for advanced POS solutions in the forthcoming years.

Spotlight

Consumer Truth - Insights & Strategy

Consumer Truth is a specialized consumer insights & strategy agency that promote a "people-based"​ culture among organizations and & insightful mindset in the marketing setting. Through psychology based techniques & methods, Consumer Truth explore consumers deep feelings, beliefs & behaviors (human truths), deliver actionable insights and develops insightful planning frameworks for brands & companies in LATAM

OTHER ARTICLES
POS RETAIL

Retail ,Wholesale Trade,Ecommerce,Retail,E-commerce,point of sale.

Article | December 23, 2021

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.

Read More
POS RETAIL

How SMEs can emulate the success of Amazon through ecommerce personalization

Article | March 16, 2022

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.

Read More
POS RETAIL

How Retailers Can Utilize In-Store Digital Signage

Article | January 12, 2022

Consumer attention is shifting. Brick-and-mortar stores must now compete with e-retailers as customers spend more time online, thanks to targeted ads and personalized deals. As noted by Digital eCommerce, online sales rose almost 18 percent last year to $3.46 trillion worldwide and are on track to top $892 billion across the U.S. in less than two years. This shift has alerted most brands to the need for a retail evolution to ensure ongoing success. With e-commerce sales still accounting for just under 10 percent of retail revenues, businesses have an opportunity to boost sales and raise their brand profile — if they can reliably capture consumer interest. One solution: effective and engaging digital signage. Retailers Can Capture Crucial In-Store Moments To capture attention and drive conversion, businesses must capitalize on what Google calls micro-moments, when customers leverage their mobile devices to discover more information, find a price or pinpoint a vendor online.

Read More

5 Ways Customer Engagement Can Boost Your Ecommerce Site

Article | February 10, 2020

“Every consumer wants a different experience when shopping, and this ‘experience‘ has become the differentiating factor for many successful business models.” This statement is even more important for ecommerce businesses, which have no face-to-face interaction with clients. With increasing competition, product quality and price are no longer enough to differentiate your brand. To stand out, you need a well-planned customer engagement strategy so they keep coming back for more. Many studies have highlighted the relationship between sales and customer engagement. According to a PwC report, ecommerce businesses can gain measurable benefits, including greater spending, by changing their customer experience strategy to make them feel appreciated. Higher engagement or personalization also impacts impulse purchases.

Read More
POS RETAIL

5 MAGENTO POS TRENDS YOU CANNOT MISS IN 2022

Article | December 23, 2021

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.

Read More
POS RETAIL

Clover POS Invoicing & Virtual Terminal

Article | March 16, 2022

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.

Read More
POS RETAIL

5 POINT OF SALE TREND YOU CANNOT MISS IN 2022

Article | January 12, 2022

Consumer attention is shifting. Brick-and-mortar stores must now compete with e-retailers as customers spend more time online, thanks to targeted ads and personalized deals. As noted by Digital eCommerce, online sales rose almost 18 percent last year to $3.46 trillion worldwide and are on track to top $892 billion across the U.S. in less than two years. This shift has alerted most brands to the need for a retail evolution to ensure ongoing success. With e-commerce sales still accounting for just under 10 percent of retail revenues, businesses have an opportunity to boost sales and raise their brand profile — if they can reliably capture consumer interest. One solution: effective and engaging digital signage. Retailers Can Capture Crucial In-Store Moments To capture attention and drive conversion, businesses must capitalize on what Google calls micro-moments, when customers leverage their mobile devices to discover more information, find a price or pinpoint a vendor online.

Read More

5 Ways Customer Engagement Can Boost Your Ecommerce Site

Article | February 10, 2020

“Every consumer wants a different experience when shopping, and this ‘experience‘ has become the differentiating factor for many successful business models.” This statement is even more important for ecommerce businesses, which have no face-to-face interaction with clients. With increasing competition, product quality and price are no longer enough to differentiate your brand. To stand out, you need a well-planned customer engagement strategy so they keep coming back for more. Many studies have highlighted the relationship between sales and customer engagement. According to a PwC report, ecommerce businesses can gain measurable benefits, including greater spending, by changing their customer experience strategy to make them feel appreciated. Higher engagement or personalization also impacts impulse purchases.

Read More
MORE ARTICLES

Spotlight

Consumer Truth - Insights & Strategy

Consumer Truth is a specialized consumer insights & strategy agency that promote a "people-based"​ culture among organizations and & insightful mindset in the marketing setting. Through psychology based techniques & methods, Consumer Truth explore consumers deep feelings, beliefs & behaviors (human truths), deliver actionable insights and develops insightful planning frameworks for brands & companies in LATAM

Related News

CLOUD BASED POS

LEFCON, LLC Enters Master Service Agreement with Sage Hospitality

LEFCON | March 16, 2023

LEFCON, LLC, a national technology support organization, recently announced entering into a Master Service Agreement (MSA) with Sage Hospitality Group for its corporate headquarters in Denver and the majority of its portfolio of more than 110 hotels and restaurants in the United States. As part of the Master Service Agreement, LEFCON is the primary technology partner for Sage's corporate headquarters, assisting with infrastructure, day-to-day technology solutions, and innovative solutions to keep Sage at the forefront of hospitality services as the industry evolves. LEFCON also provides support for the majority of Sage's hotel and restaurant offerings, including POS systems, back-of-house technologies, and event and guest service requirements. James Lefcakis, President of LEFCON, said, "What we love about our partnership with Sage Hospitality Group is that they are interested in continuing to innovate the hospitality industry through technology systems and support." He added, "LEFCON not only provides excellent day-to-day customer support but we are always looking for new and creative ways to engage with guests through tech, as well as streamline services throughout hotels and restaurants. This partnership will allow us both to think up new and creative ideas while providing excellent service to Sage's properties." "LEFCON has been a trusted partner of Sage for many years, and we're excited to enter into this MSA to continue to provide excellent service to our properties and owner/partners," mentioned Matt Schwartz, Chief Technology Officer at Sage. He also said, "We look forward to bringing new innovations to our hotels and restaurants that will enhance the guest experience and continue to position Sage as an industry leader in the lifestyle sector." About LEFCON Founded in 2000, LEFCON provides a highly specialized managed services solution that is customized to match the needs of each hotel organization, drawing on more than 25 years of experience providing professional IT services to the hospitality industry.LEFCON offers top-tier solutions for email, asset management, security and compliance, and proactive network monitoring, all of which are backed by a 24/7 support team and a state-of-the-art network operations center. As a business focused on hospitality technology, LEFCON offers services like consulting, opening management, network design and build, new construction build, project governance, and turnkey IT solutions.

Read More

POS RETAIL

Spreedly Expands Payment Options to PayPal Braintree Customers

Spreedly | March 14, 2023

Spreedly, the leading payment orchestration platform provider, announced the addition of integrations for PayPal Credit, Venmo, PayPal Pay Later, and ACH payments, providing clients with even more payment method possibilities. These additional payment methods are now accessible to PayPal and Spreedly customers processing via PayPal Braintree. An effective payment plan must incorporate the appropriate combination of payment options to accommodate client preferences, regional payment requirements, and a variety of other factors. Payments Orchestration supports the integration of new and local payment methods (LPMs), providing an extensive set of payment options for assisting global merchants to reach more customers, reduce transaction fees, and improve conversion rates. Randy Guard, Chief Product and Marketing Officer at Spreedly, stated, "Through our single point of integration, Spreedly provides the capability, along with a wealth of knowledge, to enable customers to select the right mix of payment methods for today's market needs – and prepare for future, unknown needs." He added, "Our joint customers are able to offer a variety of local payment methods, like Venmo, and make it even easier for consumers to pay using any method they choose." (Source – Cision PR Newswire) About Spreedly Founded in 2008, Spreedly is a leading provider of payments orchestration platforms, enabling and optimizing digital transactions with the most comprehensive payment services marketplace in the world. By utilizing our payments technology, global organizations and hyper-growth companies can expand their digital businesses more rapidly.Hundreds of global clients secure card data in their PCI-compliant vault and use tokenized card data to facilitate and optimize more than $45 billion in yearly transaction volumes with any payment service. The headquarters of Spreedly is located in downtown Durham, North Carolina.

Read More

POS SOLUTIONS

Brankas Secures Payments Licenses in Indonesia and the Philippines

Brankas | March 20, 2023

Open finance leader Brankas has announced that it has acquired both the Payment Service Provider (PJP) Category 3 License from Bank Indonesia (BI) and the Operator of Payment Systems (OPS) Registration from the Bangko Sentral ng Pilipinas (BSP). The certifications confirm that Brankas meets all local regulatory and security standards for its Open Finance payment solutions. Brankas has an extensive range of banking APIs that enable instant and direct payments without the extra cost and risks of "middleman" settlement accounts. Brankas' payment APIs are used by companies offering e-wallets, online shopping checkout, lending services, insurance, and wealth management. Brankas Disburse is a multi-bank API enabling automated fund transfers for salary payouts, vendor payments, loan disbursements, and more. Brankas Direct enables collections and retail "cash-in" for e-commerce, fund transfers, and recurring subscriptions. Brankas Merchant Link is a turnkey merchant management system for banks and large merchants to offer in-house payment processing. With over 100 enterprise partners worldwide, Brankas is committed to the security of its open finance solutions. Brankas is ISO 27001 and PCI DSS certified, and undergoes regular external IT audits "We understand how important trust is to our customers, that's why it is important that we hold ourselves to the highest standards of security. As a leading open finance company globally, Brankas owes it to our customers to not only demonstrate compliance to internationally recognized frameworks, but also to contribute to the evolving risk management framework for payment systems worldwide." said Todd Schweitzer, CEO and Co-founder of Brankas. The payments licenses equip Brankas to offer end-to-end Open Finance infrastructure to its bank partners, from local and cross-border payments, to new banking-as-a-service solutions like account opening and card issuing. "Brankas is proud to obtain the PJP license, which confirms our commitment to data security and privacy for both our customers and partners. As we expand our list of embedded finance offerings to support our customers, we want to ensure that we provide the widest bank coverage in the country." said Husni Fuad, Country Manager of Brankas Indonesia. About Brankas Brankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas' secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.

Read More

CLOUD BASED POS

LEFCON, LLC Enters Master Service Agreement with Sage Hospitality

LEFCON | March 16, 2023

LEFCON, LLC, a national technology support organization, recently announced entering into a Master Service Agreement (MSA) with Sage Hospitality Group for its corporate headquarters in Denver and the majority of its portfolio of more than 110 hotels and restaurants in the United States. As part of the Master Service Agreement, LEFCON is the primary technology partner for Sage's corporate headquarters, assisting with infrastructure, day-to-day technology solutions, and innovative solutions to keep Sage at the forefront of hospitality services as the industry evolves. LEFCON also provides support for the majority of Sage's hotel and restaurant offerings, including POS systems, back-of-house technologies, and event and guest service requirements. James Lefcakis, President of LEFCON, said, "What we love about our partnership with Sage Hospitality Group is that they are interested in continuing to innovate the hospitality industry through technology systems and support." He added, "LEFCON not only provides excellent day-to-day customer support but we are always looking for new and creative ways to engage with guests through tech, as well as streamline services throughout hotels and restaurants. This partnership will allow us both to think up new and creative ideas while providing excellent service to Sage's properties." "LEFCON has been a trusted partner of Sage for many years, and we're excited to enter into this MSA to continue to provide excellent service to our properties and owner/partners," mentioned Matt Schwartz, Chief Technology Officer at Sage. He also said, "We look forward to bringing new innovations to our hotels and restaurants that will enhance the guest experience and continue to position Sage as an industry leader in the lifestyle sector." About LEFCON Founded in 2000, LEFCON provides a highly specialized managed services solution that is customized to match the needs of each hotel organization, drawing on more than 25 years of experience providing professional IT services to the hospitality industry.LEFCON offers top-tier solutions for email, asset management, security and compliance, and proactive network monitoring, all of which are backed by a 24/7 support team and a state-of-the-art network operations center. As a business focused on hospitality technology, LEFCON offers services like consulting, opening management, network design and build, new construction build, project governance, and turnkey IT solutions.

Read More

POS RETAIL

Spreedly Expands Payment Options to PayPal Braintree Customers

Spreedly | March 14, 2023

Spreedly, the leading payment orchestration platform provider, announced the addition of integrations for PayPal Credit, Venmo, PayPal Pay Later, and ACH payments, providing clients with even more payment method possibilities. These additional payment methods are now accessible to PayPal and Spreedly customers processing via PayPal Braintree. An effective payment plan must incorporate the appropriate combination of payment options to accommodate client preferences, regional payment requirements, and a variety of other factors. Payments Orchestration supports the integration of new and local payment methods (LPMs), providing an extensive set of payment options for assisting global merchants to reach more customers, reduce transaction fees, and improve conversion rates. Randy Guard, Chief Product and Marketing Officer at Spreedly, stated, "Through our single point of integration, Spreedly provides the capability, along with a wealth of knowledge, to enable customers to select the right mix of payment methods for today's market needs – and prepare for future, unknown needs." He added, "Our joint customers are able to offer a variety of local payment methods, like Venmo, and make it even easier for consumers to pay using any method they choose." (Source – Cision PR Newswire) About Spreedly Founded in 2008, Spreedly is a leading provider of payments orchestration platforms, enabling and optimizing digital transactions with the most comprehensive payment services marketplace in the world. By utilizing our payments technology, global organizations and hyper-growth companies can expand their digital businesses more rapidly.Hundreds of global clients secure card data in their PCI-compliant vault and use tokenized card data to facilitate and optimize more than $45 billion in yearly transaction volumes with any payment service. The headquarters of Spreedly is located in downtown Durham, North Carolina.

Read More

POS SOLUTIONS

Brankas Secures Payments Licenses in Indonesia and the Philippines

Brankas | March 20, 2023

Open finance leader Brankas has announced that it has acquired both the Payment Service Provider (PJP) Category 3 License from Bank Indonesia (BI) and the Operator of Payment Systems (OPS) Registration from the Bangko Sentral ng Pilipinas (BSP). The certifications confirm that Brankas meets all local regulatory and security standards for its Open Finance payment solutions. Brankas has an extensive range of banking APIs that enable instant and direct payments without the extra cost and risks of "middleman" settlement accounts. Brankas' payment APIs are used by companies offering e-wallets, online shopping checkout, lending services, insurance, and wealth management. Brankas Disburse is a multi-bank API enabling automated fund transfers for salary payouts, vendor payments, loan disbursements, and more. Brankas Direct enables collections and retail "cash-in" for e-commerce, fund transfers, and recurring subscriptions. Brankas Merchant Link is a turnkey merchant management system for banks and large merchants to offer in-house payment processing. With over 100 enterprise partners worldwide, Brankas is committed to the security of its open finance solutions. Brankas is ISO 27001 and PCI DSS certified, and undergoes regular external IT audits "We understand how important trust is to our customers, that's why it is important that we hold ourselves to the highest standards of security. As a leading open finance company globally, Brankas owes it to our customers to not only demonstrate compliance to internationally recognized frameworks, but also to contribute to the evolving risk management framework for payment systems worldwide." said Todd Schweitzer, CEO and Co-founder of Brankas. The payments licenses equip Brankas to offer end-to-end Open Finance infrastructure to its bank partners, from local and cross-border payments, to new banking-as-a-service solutions like account opening and card issuing. "Brankas is proud to obtain the PJP license, which confirms our commitment to data security and privacy for both our customers and partners. As we expand our list of embedded finance offerings to support our customers, we want to ensure that we provide the widest bank coverage in the country." said Husni Fuad, Country Manager of Brankas Indonesia. About Brankas Brankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas' secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.

Read More

Events