If you run a business, it may feel like you had just gotten used to serving a cashless society when consumers started getting rid of cards as well. Some of the biggest markets in the world are seeing rising rates of shoppers using their smartphones to pay for goods and services, which is going to place further pressure on vendors to accommodate their cardless transactions.
The growth in contactless, mobile in-store purchasing is just the latest consumer development that highlights the need for owners/managers to keep their point of sale systems updated and flexible.
Digital point of sale system modules and configurations are nimble enough to deal with the ever-changing consumer world, but you have to pay attention if you’re going to keep providing what your customers want.
Digital and Adaptable
The move to ditch credit and debit cards in favor of smartphone payment options has begun in earnest now in China, where more than 80% of the nation’s hundreds of millions of smartphone owners made a mobile payment from their phone in 2019. Those payments cover a wide variety of tech types, from digital wallets, to third-party vendors like Paypal, and to novel services from traditional banks.
The obvious appeal is the ease of use and the growing confidence in smartphone encryption. Despite the now-familiar stories of social media hacking and scams, it is estimated that more than 1.3 billion proximity mobile payments will be made annually by 2023.
For vendors who have recently upgraded their POS systems to handle tap-and-go and other card-based payment options, it is yet another change that needs to be accommodated. But for solid, dynamic digital point of sale modules, adding a new feature is routine.
Modules and Configurations for Every Environment
Point of sale system modules and configurations are the customizable, moveable building blocks of your digital POS solution. In the same way that your phone can accommodate an ever-changing line-up of apps and updates, so too can your POS solution be expanded to keep up with consumer and management trends.
As your business and the world around it changes, or just grows with success, you can update your POS capabilities. Basic inventory management options, for example, can be expanded to include automated purchase orders, and then on again to handle more sophisticated alerts and data science reports.
The same applies to your customer-facing point of sale transactions. While you once got by with a straightforward cash drawer, printer, or chip-and-pin payment option, an increase in sales volume, stock quantities, and customer sophistication may make it important you upgrade to a more dynamic iPad-based multimedia system.
There are upgradeable business modules to assist with every aspect of your enterprise.
A Range of Point of Sale System Modules
The component pieces of a POS solution give the system sensitivity to deal with every demand your customers, staff, suppliers, and accountant may make of you. These hardware and software components can be upgraded independently of each other, but the greatest advantage to having a digital POS solution is that every moving part is linked, improving overall performance. And you don’t always have to upgrade—sometimes just tweaking your current resources to better reflect your unique business ideas can make a big difference to your working life and bottom line.
You can see how module configuration builds a better business across these four key areas:
- Customer experience
- The sales event
- Inventory management
- Digital reporting
The demonstration begins with the dynamic in-store potential of a multimedia customer experience.
1. Customer Experience
The digital transformation of POS systems has freed the technology from the final counter and made it part of the shopping experience. By upgrading your POS module to a multimedia iPad platform you can give customers a deep, visual addition to their in-store experience. The same device you use to process the final payment can also act as a video player, a bottomless digital catalog, and an interactive guide through your outlet’s history, ideas, and wares.
You can expand your POS system both in depth, functionality, and volume of devices, and you can continually upgrade the software to keep up with your industry.
2. The Sales Event
For all that 2020’s digital wizardry offers, your POS system still has to function as a transaction point. There are, however, a huge number of ways to configure your POS interface and functionality to maximize the sales event. Touchscreen technology keeps everything easy to access, and that simplicity allows you to make better use of the software’s complexity. Modifications give you complete power to:
- Split bills
- Offer discounts
- Include or itemize tax
- Capture customer information
- Create loyalty programs.
- Modify orders
- Track online orders through your instore POS terminals
Of course, this is also the point where you can boost your tech to handle those smartphone shoppers.
3. Inventory Management
Small business success rests on your inventory. The efficiency with which you bring in and ship out stock while managing all the marketing, employee training, and customer experience costs that occur in between defines your business. A digital POS system gives you an overall view of all those dynamics by combining the individual modules that control them.
You can customize your system to account for variables that impact the final sale price of your goods, and maintain an accurate, live stock count so you never run short or disappoint a customer by offering an item you don’t have on hand.
4. Digital Reporting
Modern POS systems do more than just help you run your business, they provide advice on how to improve it. One of the most dynamic modules of any digital solution is its reporting features. You can track every sale that passes through your POS solution and use it to identify shopper trends, the impact of price changes or marketing efforts, and adjust your inventory to maximize seasonal trends.
Data science has become a common feature of small business POS solutions and you can increase its sensitivity by configuring it to suit your specific environment.
As with all the examples listed above, the key advantage to employing a digital solution is the fact you can build it in your own image.
Build Your Own Point of Sale System Modules
Embracing a digital POS solution should give you the confidence to follow your instincts about how current trends will impact future sales. The flexible, modular nature of today’s solutions means you don’t have to invest in an entirely new system every time a payment option, flashy product, or cost increase encourages you to change.
The digital revolution is far from over, and consumers could have some very different preferences by the end of the 2020s. A digital POS system gives you the flexibility to roll with whatever fresh demand they make of you.
When you partner with talech for your customer service technology needs, you get a state-of-the-art solution for an ever-changing consumer marketplace. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.