Mobile Point of Sale - Mobile POS
4 Ways Mobile POS Makes Business Easier to Manage
Mobile point-of-sale systems are quickly increasing in popularity in the retail and restaurant industries. Thanks in part to the rapid development in smartphone and portable device technology, mobile POS is a fast-growing trend in local merchant operational infrastructures across multiple industries.
Not only are consumers reaping the benefits of mobile technology, local business owners are as well. There are multiple benefits that mobile POS systems provide business owners, including increased flexibility and agility.
Listed below are four ways mobile POS makes business easier to manage:
Business is made more simple: Total mobility in a business setting has a number of advantages, but the first thing that comes to mind is the pure simplification of overall operations with mobile POS systems. First, early adopters have the ability to break up lines in their store so customers don't have to wait as long in lines when they're making a purchase on a product or service. In addition to potential line-busting, companies can also scale more quickly and effectively with cloud-based solutions and mobile POS. Since mobile POS relies on software as a service capabilities, business leaders have more visibility and control over their data. It's also more accessible and updated in real time, so decision-makers are never out of the loop. As consumer demands continue to shift, businesses need the flexibility to scale with fluid shifts in the market. Mobile POS provides just that.
Consistency equals unified mobility: According Retail TouchPoints® ' "2013 Store Operations Survey," 44 percent of retailers equipped their store associates with smartphones and tablets in 2013, up from 42 percent in 2012 (1). That figure may likely grow further into 2015 as portable device technology continues to grow in the marketplace. Thirty-six percent of retailers tapped mobile POS in 2013 to facilitate payments. Another 57 percent of businesses increased their investment in mobile technology.(1) Clearly, retailers and restaurants are looking to create a seamless and unified experience throughout most locations, and mobility is leading the charge.
Improved business intelligence: Early adopters not only have more access to their information, they have the power and capabilities to make informed and sound business decisions once payment data is analyzed. Data is at the finger tips of managers and decision-makers, which can create a highly educated executive team. This type of business intelligence is especially beneficial for companies that operate in multiple locations. Data analytics, provided to businesses in the cloud, helps take the work out of guessing consumer trends and
purchasing habits. No longer do managers have to be left out of new consumer demands or market trends. In fact, companies are placing such an emphasis on analytics they're beginning to dedicate a majority of future investments on information analysis. By 2017, more than half of analytics implementations will make use of event data streams derived from applications, individuals or instrumented machines, including mobile POS, Gartner® research says (2). Decision-makers, even at the small-business level, know that analysis can help make more informed decisions.
Level out the playing field with mPOS: Mobile point-of-sale solutions can dramatically level the playing field between small businesses and their midsize to larger counterparts. Rolling out a mPOS system in a small-business landscape isn't nearly as costly as it would be on a larger scale operation, plus SMBs won't likely have to halt operations while the new infrastructure is under installation. Small businesses can't afford to close shop for too long, but with mPOS, they don't necessarily have to. Business applications associated with mPOS don't need IT specialists to develop and install; the user-friendly nature of mPOS has changed the game for small businesses, and for the better.
1. Retail TouchPoints, 2013
2. Gartner, Dec. 26, 2013
Retail Touch Points® and Garter® are registered or nonregistered marks belonging to their respective owners who are unaffiliated with and do not endorse or sponsor Vantiv Integrated Payments, LLC.
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