A question that every retail business needs to ask themselves is whether or not they need to upgrade their point of sale system. In most instances, these systems are at the forefront of how a business operates as the core piece of technology. Because of this, it has become increasingly important for companies to make sure that this system is running as effectively as possible.
There are a number of benefits that companies can glean when they adopt the latest technology, even if they are not the main reasons why the business is upgrading the system in the first place.
Recently, Vertical Systems Reseller released its third annual “State of the POS Market Study 2014.” This is an in-depth analysis of the point of sale industry, specifically, the reasons why organizations have chosen to upgrade their systems. Respondents were asked to rank their top three reasons as to why they were upgrading their POS system and 19 different ones were cited.
The top three reasons cited in the report are PCI compliance (53 percent), adding mobile POS solutions (49 percent) and improving the customer experience (39 percent). While these are the top reasons, there are a number of additional ones that were mentioned. These include real-time sales reporting (24 percent), tighter integration with an e-commerce platform (22 percent), enabling an onmichannel approach (21 percent) and real-time inventory reporting (17 percent).
There are a number of different reasons why a company would choose to upgrade their point of sale system and a whole series of benefits that can be reaped for improved operations.