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mobile payments and pos

Mobility Enables Real-Time and Accurate Reporting for Your Business

By Nick Nayfack

Total mobility in local merchant operations is a burgeoning trend for a number of reasons. Business owners need to meet fluid consumer demands, and mobile point-of-sale systems are the direction the merchant landscape is headed. 

In fact, a recent Hospitality Technology™ study found Mobile POS (mPOS) systems are poised to take local businesses by storm. The top two business drivers influencing restaurant POS upgrades were enabling new payment options and adding mPOS, with 56 percent and 47 percent of respondents respectively saying the former two factors were most important for business growth going forward into 2015 (1). 

Meeting consumer demands is a highly important aspect of local merchant success. A great way to connect with customers in a more meaningful and relevant manner is by leveraging data provided by mPOS. Real-time reporting and accurate analytics are just a part of the total mobility package for small businesses. In today's information age, consumer communication is smart and data-driven. 

Improve visibility with mPOS
Since mPOS systems are cloud based, business intelligence is more universally accessible. While it's important to maintain a positive work-life balance, small-business owners need the ability to access and interact with important business information on a more regular basis. Consumers expect merchants to offer cutting-edge payment options, and on the back end, also enjoy when businesses communicate with them at the right time and with relevant information. Cloud-based mPOS systems provide improved accessibility to businesses that operate with ubiquitous mobility. 

In fact, Entrepreneur Magazine™ reports that data access is a primary benefit of upgrading to total mobility in a small-business operation (2). Decision-makers are not only provided accurate reporting at their finger tips with complete mobility, they also have access to real-time information so they're never a step behind. The pace of today's digitally driven consumer landscape moves too fast to not have up-to-date reporting and analytics. Since mPOS functions in the cloud, business owners can run web-based reporting and manage their POS from nearly anywhere. 

Mobile POS integrates with ease
Real-time reporting is a highly valuable business commodity, but it would not be possible without the seamless integration of mPOS systems. Cloud-based POS systems host the entirety of a business's data in the cloud yet offer complete control to the end user. Since mPOS systems integrate seamlessly with cloud-based applications, merchant owners aren't stuck waiting for data to travel from one location to the next. 

For instance, mPOS analytical capabilities can interact with other aspects of business intelligence such as inventory management software, customer relationship management platforms, payroll and even human resources systems. More specifically, mPOS reporting capabilities improves organization by segmenting data based on prior purchases, client demographics and therefore highlighting potential trends that store owners can use to their advantage when reaching out to customers. When combined with other areas of business, real-time data can greatly enhance productivity and efficiency of an entire business. 

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

2. Entrepreneur magazine, http://www.entrepreneur.com/article/224961 (Jan. 2, 2013).

Hospitality TechnologyTM and Entrepreneur magazineTM are registered or unregistered marks belonging to one or more unaffiliated third parties that do not endorse or sponsor Vantiv Integrated Payments, LLC.

 

 

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