Rather than running on in-house servers, cloud POS software runs on off-site servers that are accessed via web browsers and mobile apps. In most cases, you pay a monthly fee for the service which includes data storage, updates and security.
Although the long-term cost of cloud POS software may ultimately exceed that of on-premises solutions, it offers many benefits that often go unaccounted for while calculating and comparing the total cost of ownership.
Infrastructure for Cloud POS Software
When your POS software runs on-site, you are responsible for unpredictable costs. For example, your server or network can experience hardware failures that result in extended downtime and expensive repairs.
Security also becomes a problem with in-house POS software. For example, viruses and malware can disrupt your business and compromise your data. Furthermore, fire, theft, and other physical threats can result in a substantial loss.
With cloud-based POS solutions, your data resides in the cloud. Your service provider has the financial and technical resources to operate secure servers, conduct routine backups, and provide you with nearly continuous access to your data.
Multiple Locations
Businesses with multiple locations face additional expenses when they use traditional POS software. Such situations require the interconnection of multiple business networks, adding to the cost of operation and introducing additional security headaches.
Needless to say, small businesses have the most difficulty meeting the challenges involved with operating multiple sites with in-house POS software. After all, they often lack the resources needed to maintain in-house IT expertise while paying for complex network technologies.
On the other hand, a cloud POS can connect with multiple locations without any major infrastructure investment. Businesses can set up shop anywhere, including customer sites, flea markets and sidewalk sales and have full access to all their POS features and data.
Budgeting
Companies that choose a cloud-based POS solution have predictable expenses. They never have to worry about unexpected expenses such as server replacements and software upgrades.
Businesses can also easily budget for adding users and features to cloud-based POS services. This means that they can adjust their POS services to meet demand without worrying about investing in new in-house equipment.
So, by choosing a cloud POS, you can operate without fearing emergency expenses that could cause cash flow problems and other operational issues.
Administration
You and your team can access your POS data from anywhere you have internet access. This means that you can check on sales statistics while travelling or taking a personal day. Since all your data is in one place, a single login will let you check the performance of all of your locations.
Most cloud POS systems will integrate with other business applications, including CRM and accounting products. This connectivity can practically eliminate redundant data entry while improving accuracy.
Meanwhile, the cloud dramatically simplifies the administration of your POS system. You can add and remove users and assign user-level security that controls the information that each of your team members can access.
Summary
In summary, cloud POS software has a lot to offer your business in terms of efficiency and cost-effectiveness. Until you try it, you might never know how easy you can manage all your locations and data while providing worry-free security.