While keeping in view the fact that a point of sale system is an extremely essential tool for businesses, it would rather not be a good idea to stick to unattractive traditional versions. Besides, the industry has made a substantial stride in the last decade or so, and one of the few innovations in this regard is cloud-based POS systems. The difference between a traditional and cloud-based system is that the former runs on closed networks and uses local servers for data storage. On the other hand, the data is stored on a hosted server in a remote location (the cloud) and an internet connection is used to access that data.
As far as the evolution of cloud-based point of sale solutions is concerned, they took rather a different route to evolve. Most of them started their journey as tech companies with no customers and with no legacy source code or database. Besides, the unique thing about them was that they had little knowledge of the industry they wanted to serve. That is why; some of the cloud-based offerings didn’t make waves when they tried their level best to offer cloud-based solutions.
Truth be told, everything is app-driven and web-based these days, therefore accessing the data via other devices such as the iPhone certainly makes more sense instead of just accessing the data via a computer. Cloud POS systems also removed the in-store server configuration being leveraged by traditional pos systems and instead replaced it with an economical, easy-to-use server in an offsite location.
The fact that your data is stored online through a cloud-based EPOS System, that is why you can manage it from anywhere. However, to do, you need to have an electronic device such as your iPhone and an internet connection. No matter how much far away you are from your location, you can easily access your data in real-time.
Besides, you can also take a sigh of relief if you somehow lose the internet connection while running your store. The good thing is that your daily operations can still run as usual and all your data will be synced as soon as the internet connection restores.
The coolest thing about the cloud-based EPOS system is that it has frequent updates and which could occur every few months. The system provider will install the updates automatically and there will be no need whatsoever for manual updates.
You will receive updates regularly and you don’t have to worry as you can enjoy the current version as your data is still secure as these updates are carried out from some other location.
When it comes to installation, a cloud-based POS system not that complex and it is also cheaper. Moreover, it has no up-front costs or very minimal, however, it follows a model subscription and which means that you will have to pay monthly or annual fee. It can be reasonable for small business owners as you won’t have to spend more finances upfront.
The most significant part for any kind of business is its data and with the legacy POS solution, there is a huge risk that all your data is lost if the system crashes or faces a bug. The fact that all the data is stored in a locally closed network, which is why it will be of great loss to your business if you lose your data somehow.
On the other hand, you will reap the benefits of a cloud-based point of sale solution as it has got you covered by backing up your data in the cloud. In case if you lose a file or it gets deleted accidentally, or your system gets crashed, you will be able to immediately restore it. It is also worth mentioning that the advanced software takes as many as 30 days for the complete removal of deleted files and thus you can easily retrieve the deleted documents.
When it comes to opting for a cloud-based POS system, don’t go after its marketing appeal. Instead, you should look for the backend functionality and some other features and it will have a more crucial impact on your business.
Besides, most of the POS companies are now offering hardware that is sleeker and up-to-the-minute than the traditional point of sale equipment that you’re using. The best thing about these systems is that they are built built-for-purpose to endure the demands of a busy restaurant and retail environments.