If movies were more like real life, the next Hollywood superhero would be a small business owner:
- Small business owners are courageous: They start with nothing but an idea and the drive to make it real.
- Small business owners are heroic: They are the lifeblood of their communities and are responsible for nearly half of economic growth in the U.S., according to the Small Business Administration (SBA).
- Small business owners are economic lifesavers: As of 2017, they accounted for 47.1 percent of the private sector workforce, as the SBA reports, and in 2019 they created 1.6 million new jobs, far outpacing the number created by large firms.
Perhaps the most important super-human trait of small business owners is their ability to dream big while staying firmly grounded in the reality of running a business day by day. The key technology that is helping small businesses realize their expansion goals is modern cloud-based POS systems.
However, determining which are the best types of POS systems for your home-grown operation can be daunting. These are the five characteristics of today’s mobile-ready ePOS systems that help small businesses thrive today and well into the future.
Scalability to Meet Your Current POS Needs and Prepare for the Future
Like their enterprise counterparts, a small business’s success requires having one foot in the present and the other foot in the future. Cloud-based ePOS systems help small businesses adapt quickly to changing customer preferences and shopping patterns so they can attract new customers and establish long-term relationships with existing ones.
For example, the increase in online shopping creates a tremendous opportunity for a small business to reach new audiences and better serve your current customers, but only if your POS system makes the digital shopping experience as welcoming, accessible, and efficient as shopping in your store. Cloud-based ePOS systems allow stores to easily create branded websites and custom apps that can be updated and enhanced quickly and simply via an intuitive dashboard interface.
Boost Efficiency With a POS That Integrates Your Entire Operation
Traditional POS systems are one-trick ponies; they are adept at processing sales transactions, but they don’t play well with others. Small businesses need a POS system that serves as the foundation for all their operations, from order processing and inventory management to sales analytics and customer relationship management.
The features available in an ePOS system allow stores to optimize the entire flow of their business and seamlessly integrate all business processes.
- Retailers can accurately track products from delivery to final sale.
- They gain insight into which products are most popular with customers in real-time, which helps them prevent under-ordering hot items and over-ordering slow movers.
- The systems help small businesses manage their employees and determine areas where more training or feedback may be required.
- Customers benefit by having a range of payment options and by being given more control over their shopping experience online and in-person via mobile, customer-facing kiosks.
Mobile ePOS Systems Create New Opportunities for Small Businesses
The COVID-19 pandemic has turned the retail industry upside-down, causing stores to rethink nearly every aspect of their operation. One trend that received a tremendous boost as a result of COVID-related restrictions is mobility: If customers can’t come to the store, the store will have to come to the customers. Mobile ePOS systems are particularly well suited to small businesses because they can be implemented quickly and affordably, yet they’re adaptable enough to grow along with the business.
- A free mobile POS app and low-cost card reader allow retailers to set up shop at flea markets, events, and other off-site locations.
- The systems feature built-in security and the ability to go paperless by delivering receipts to customers via email or text.
- Shopkeepers can quickly create product catalogs or menus with as many as 100 items that can be updated from anywhere via WiFi or the cell network.
- Taxes are calculated automatically based on the location, and customers can be offered discounts and other promotions tied to their purchase history on the spot.
Automated ePOS Features Save Small Business Owners Time
One thing nearly all small business owners have in common is a to-do list that is longer than the amount of time available to complete the tasks. There’s no simple way to calculate the value of the time an ePOS system frees up for store managers to spend interacting directly with customers or performing other important duties.
First and foremost, ePOS systems create a single platform to host all of the business’s software. From staff training and scheduling to contract management and inventory tracking, every software function the business requires is available in a single window that is clear and complete. Advanced reports can be generated with a single click, and as more capacity or new features are needed, the system scales fluidly to adapt and grow along with the business.
Take Advantage of the Expertise and Track Record of Your ePOS Partner
Whether they operate a flower shop on a busy city street or an Asian fusion pop-up restaurant, small business owners rely on their knowledge and experience in their chosen field. However, not many small retailers are as adept at the technology part of their business as they are with their store’s specialty area. That’s why one of the most important decisions in selecting a POS system is finding a POS vendor who brings their experience and technical skills to bear in ways that address your business’s unique requirements.
- How can your business take advantage of the trend toward mobile operations without disrupting the qualities and characteristics that make it one of a kind?
- What’s the best way to capitalize on the data that POS systems collect about the store’s sales operations and customer purchase histories?
- How do you determine the optimal approach to interacting with customers online in a way that conveys the store’s unique in-person shopping experience?
- What steps can your small business take to ensure it doesn’t become locked into any outdated technologies or fails to take advantage of innovative new POS approaches?
The first step in determining the ideal mix of POS features and functions for your business is to spend a few minutes in conversation with a POS vendor who has the knowledge and expertise to help you avoid the pitfalls and realize all the benefits that cloud-based ePOS systems offer. It’s an investment that promises to pay dividends for your business for months and years to come.
When you partner with talech for your retail technology needs, we devote our time to identifying the best types of POS systems for your business. We use this information to work with you to apply an innovative POS solution that levels the playing field.
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