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Businesses today are learning about Point of Sale systems and how they help with business management. But what are they, exactly, and why are cloud-based POS quickly becoming popular in the business world?

Let’s talk about it in today’s article.

WHAT IS A POINT OF SALE (POS) SYSTEM?

A point of sale system, abbreviated as POS, is a kind of system or software that facilitates the process of a sale – that is, the point of transaction between the vendor and the customer. Every time a sale is punched into a cash register, for example, a point of sale transaction is completed.

The POS system can also work as the central hub for other types of transactions, not just sales. For example, POS systems can be used to track incoming and outgoing inventory simultaneously with purchase transactions. They can also be used to manage customer relationships, like in-store discounts (the POS system will automatically calculate the discount upon transaction) and members-only promotions (buy one take one promos, for example).

BENEFITS OF A CLOUD-BASED POS SYSTEM

Let’s talk about the benefits of having a cloud-based POS like MoneyCache.

A cloud-based POS system is a system that stores its acquired data – that is, the information you input, like sales transactions, inventory, and similar kinds of information – in a cloud-based server. A cloud-based server, in turn, is a virtual server that doesn’t rely on a physical server to store data. What this means is that your data is always online, as it doesn’t depend on physical machines that require maintenance.

There are benefits to a cloud-based POS, the first of which is accessibility. Because, as mentioned, a cloud-based server is always online, you can access your shop’s records at any time of the day, anywhere you go that has an internet connection.

Now, as a business owner, data security is very important. A cloud based POS system is one of the more secure options available; compared to physical servers, which can be physically broken into and stolen, or otherwise damaged, there’s little risk of such a breach happening with cloud-based POS servers.

Cloud servers are also heavily encrypted – as long as your login credentials are kept safe, they are very difficult to break into. This means your data will be strictly for your eyes only, and whoever else you trust to manage your data, like your store manager or business partner.

Another benefit to a cloud-based POS like MoneyCache is scalability. Scalability is the aspect of software data storage where the server adapts to how much information is available. This may seem like something a business shouldn’t be concerned about, but it’s actually very important: for example, if your business is rapidly growing, you’re going to need a system that can scale up and meet the demands of your business, like processing more orders or recording more transactions.

A cloud based POS system is able to adapt much more quickly than a POS system using a physical server – which means your system can handle a sharp increase in orders or transactions more easily, with negligible lag to the software.

CLOUD-BASED POS ARE THE FUTURE

Cloud-based POS systems are the future – and the future is now. They’re highly adaptable for businesses of any size, they’re typically more competitively priced compared to fixed server-based systems, and they can be updated or customized based on a business’s needs and requirements.

MoneyCache, for example, has all of these features and then some – and they can be installed on both high end cash register systems as easily as smart phones and tablets, so you can have a sleek and professional POS system ready to go regardless of the size of your business.

Switch to a cloud-based POS today – give MoneyCache a try!