Not Just for Payment Processing Anymore - Meet the Latest POS System Features

article by Arya A. author
It’s common to think of point of sales systems as simply fancy cash registers. However, they are multi-faceted business tools that truly help companies tap into their full potential.

POS technology is shifting toward sophisticated capabilities offering better control, greater flexibility and stronger business intelligence.

Biometrics

As biometric identification becomes more common, POS systems have embraced the technology as a way to help customers speed up their payment. Instead of having to wait for a representative, customers can simply identify themselves via biometric signature, use a built-in credit card reader, and be on their way in less time.

RFID

Radio frequency identification (RFID) is a replacement to traditional bar-code systems. These can be embedded into devices and packages which can be read by a POS system, making it easier for you to collect important analytics to improve your operations. With RFID, your small business can learn a great deal of information from a simple scan, including inventory amounts, sales history, and more, and use this data to optimize your sales processes and customer service functions.

Digital Marketing

One of the most fascinating things about new cloud-based POS systems is how effective they are at helping your marketing. POS systems can now collect a wealth of customer data including contact details, shopping preferences, and history. With this, you can enhance your digital marketing efforts and offer better service along with deals to your loyal customers.

CRM Integration

CRM—or customer relationship management—software has become a standard part of any business’ customer service efforts. Today’s web-based POS systems, such as ShopKeep, include the ability to connect your existing CRM with your point of sales solution in order to improve your marketing efforts with real-time data collected from your customers, without having to put in extra work.

Mobile POS

One of the biggest advantages of cloud-based POS systems such as TouchBistro is their mobile capability. Whereas older cash registers and credit card readers were stationary, new point of sales technology can be installed on anything from a tablet to a smartphone. This means you can save on hardware and add the flexibility needed to operate several aspects of your business from one single system.

Data Analytics

Using the data collected from your customers, inventory, and sales, you can now make better decisions for your company. Small businesses can identify popular products, inventory inefficiencies, best practices and habits for workers, and other useful insights to streamline your operations.

The Internet of Things

The internet of Things is poised to be the focal technological development of the next few years, letting computers connect to all sorts of devices from refrigerators to bar-code readers.  Web-based POS systems are already embracing this new frontier. By enabling mobile communication and connection, online point-of-sales services allow companies to keep more accurate tabs on inventory, equipment, supplies, and resources.

Point-of-sales services have grown up from their days as simple payment processors. With new technologies being added every day, you can ill afford to be left behind on the innovation curve. Making the switch might seem costly, but the long-term benefits far outweigh the potential drawbacks. Research the best POS systems and explore reviews before choosing the right option for your small business’ needs.