Business technology is something that often gets taken for granted. As a business owner with dozens of responsibilities, there’s not enough time to pay attention to things unless they are broken.
But while you may think that your POS system is good enough because it’s still working, that may not be the case. Investing in the right tools is essential if you want to reach your business goals, and your POS must be a priority.
If you’ve been ignoring your POS system for a while now, it should be time for an upgrade. Here are four of the top reasons why:
Prevent hardware malfunctions and data loss
Business owners write off minor hardware issues as a normal part of their daily operations. Connectivity problems, system downtime, communication errors, and printer troubles are just some of the glitches that are commonly overlooked. The thing is, these issues will not fix themselves and will only get worse with time. Frequent hardware failure will slow down transactions and may result in tragic loss of data.
Upgrading to newer hardware and cloud-based platforms ensures the protection of your records and data. In case the equipment gets damaged, you can sleep well at night knowing that relevant business and customer information are kept safe and encrypted.
Manage your business better
Modern POS systems have features that let you track your inventory in real time, so you’re always updated on what’s a hit or miss with your customers. Being able to keep a close eye on your inventory allows you to make informed decisions like restocking the items that are flying off the shelves before they run out or devising better ways of marketing products that aren’t selling as expected.
Aside from inventory tracking, new POS systems also have employee monitoring features that you can use to observe your team’s progress, strengths, and shortcomings so you can reward them or provide positive reinforcement as needed.
Improve customer experience
An enjoyable and stress-free in-store experience is what turns customers into loyal patrons. As nothing irritates customers more than a slow-moving, long checkout line. Investing in a good POS system to facilitate fast and easy transactions is crucial.
If possible, your POS system must cater to most credit card processors. It should also carry out mobile wallet payment methods, which are preferred by millennials because it gets them out the door as quickly as possible.
Security, security, security
Today’s POS systems take security seriously. Nowadays, more advanced measures are designed and implemented to safeguard data of both the business and its customers against theft and unauthorized alterations.
Taking PCI compliance to another level, new POS systems are equipped with EMV enabled terminals to ensure that cardholder data transmitted by merchants remain secure and are not vulnerable to fraudulent intents.
These security measures protect confidential information, improve accountability, and lessen risks of data loss, manipulation, and fraudulence. All in all, modern POS systems are safer.
Upgrade Your POS Now
In this digital world that we live in, keeping up with recent business technologies have become essential to success. If you’re still using an outdated POS system, you could be missing out on a big opportunity for growth. Don’t get left behind by your competitors. Upgrade your POS as soon as possible.
About the Author
Chad Vanags is the Chief Marketing Officer at Talus, a Dallas, TX-based company that helps small to medium-sized enterprises run their business more smoothly by providing them with reliable payment processing and merchant services. In a previous life, he played a crucial role in increasing the leads, revenue, and customer engagement and retention of several online businesses by helping them develop automated sales and marketing systems, and partner programs. In his spare time, Chad plays table tennis, surfs the waves, and cheers the Cleveland Browns on.