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Going beyond transactions: Get to know your customers with tablet POS

Businesses considering a point-of-sale upgrade should look no further than mobile or tablet POS systems. Digital technology is making its way into all areas of business, regardless of company size or vertical. The reasons for implementing new technology within a business operation are myriad, but a recent study found adding upgraded payment terminals was near the top of the list.

According to Hospitality Technology™, 47 percent of hospitality industry respondents cited adding mobile POS as one of the top drivers influencing their entire POS infrastructure. Certainly, the upfront advantages are obvious: Meeting customer demands is a critical component of a successful business unit today. However, not all businesses realize the back-end advantages a mobile or tablet POS system can bring (1).

Go beyond transactions with POS
While meeting customer demand is an important aspect of success, a well-oiled business machine also makes decisions based on the entire operation. For instance, a merchant shouldn't make a POS upgrade decision based solely on how it will impact customer relationships. Again, that's a critical component of prosperity, but mPOS system implementation should also consider back-end capabilities.

Today's tablet POS systems offer highly advanced features that can streamline an entire small-business operation. Point-of-sale integration is the pivot point for merchant growth and agility since a main source of revenue is generated during a transaction. Back-end processes, such as inventory management and tracking, data analysis and reporting and multichannel integration all lead back to POS infrastructure. From a small business's perspective, streamlining an entire operation and making a tablet POS system the central nervous system creates a multitude of benefits, including time and financial savings, an increase in productivity and can even enhance customer relationships as a result.

Tablet point-of-sale systems can serve as a central access point for varying business components. Since the POS system is where merchants generate most of their revenue, it only makes sense that they use their POS infrastructure as a hub. Since most mPOS systems are cloud-based, merchants can also save time and money on maintenance and future upgrades. The service provider is responsible for patching bugs and updating the software on an as-needed basis, so all merchants have to focus on is providing a memorable experience to their customers. This can be accomplished by using the POS system as a focal point of business operations and growth.

1. Hospitality Technology, http://hospitalitytechnology.edgl.com/news/POS-Software-Trend-Report-201597065 (Dec. 11, 2014). 

Hospitality Technology™ is an unregistered mark belonging to its own respective owner who is unaffiliated with and does not sponsor Vantiv Integrated Payments, LLC.

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