Cloud Based POS System Observes Double Digit Growth
Posted on February 4, 2016 at 9:00 PM
Gone are the days when we used cash registers to simplify our sales or record transaction details. Stay on top of the inventory, reporting, customer management and eCommerce from one platform – A POS (Point of Sales) platform.
If you are a retail setup, we are sure you struggle to manage sales, customers and transaction details. For those businesses, technology has something extra ordinary to offer – A POS (Point of Sales) system. It is now being widely used for retail management and it is proving to be the one of the most effective technology systems to manage retail outlet activities.
Gone are the days when we used cash registers to simplify our sales or record transaction details. Stay on top of the inventory, reporting, customer management and eCommerce from one platform – A POS (Point of Sales) platform. Jigar Shah, CEO at Helios Solutions said “The future of POS system is looking at more personalized and customized solutions for retail management where mobile POS system is the future”.
What is POS system?
A POS system acts like a cash register that lets retailers monitor sales and keep a record of transactions in their stores just with few entries. But with advancement in technology, now POS systems can extend beyond point of sale. Now, POS solutions serve as a retail management system that handles everything from sales to inventory to the customers, name it and you have it handled!
The global Point of Sales industry stood at US $36.86 billion in 2013 with retail sector accounting for 34% of the market. Moreover, the POS industry is expected to have an 11.6% compound annual growth rate for the 2014-2020. Although the traditional POS solutions still exist, nearly every system will be mobile by the end of 2016. This prediction is based on three key factors –
- POS solutions are more efficient for retailers
- POS systems are able to restructure the in-store shopping process to better overall customer experience.
- Mobile POS solutions are more cost effective solutions than ever before.
Also, advancements in cloud computing mean mobile POS system cost only fraction of the traditional cash registers cost resulting in good financial savings.
(Information Source: http://goo.gl/E0RxpK )
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