Online POS Software: 5 Reasons Why Cloud Hosted Programs Are The Best Way To Go

Category: Questions & Answers

qnaMadison has just launched her web based fashion store for women and for the past couple of months, things are indeed doing really well. Now, she plans to add more stocks to her inventory and also some business software and tools. One of her customers suggested she should use an online POS software instead of having it installed in her system. Madison wonders, “How can a cloud hosted business application boost her small business potential?”

“Hello! I would like to start by saying that I am not new to installing software and stuff. But a customer told me that I am better off with an online POS software rather than getting a licensed point of sales system integrated to my business setup since I am still starting and that my business is virtually an online endeavor. I hope you can tell me what advantages do I get if I opt for an online POS solution. Thanks!”

Hey Madison! In this day and age, many merchants are now finding themselves using POS solutions to help them track and register their sales and monitor their inventory. And there are businesses that have found their stride with online POS software systems. Though some enterprise owners and merchants suggest that the best way is to go have a POS software installed in your system, there are a number of benefits you can get from using web based POS software instead.

Check them out.

#1 Fast, Easy, and Costs Less

With a web based POS solution, you need not undergo complicated installation processes, experience glitches and hire an IT professional to help you install the software. Also, there is less need for you to purchase additional hardware as most your storage needs are all located in the cloud.

Another thing that makes web based POS software a better choice for startup businesses running on tight budgets is that you don’t have to worry about updates. You no longer need to pay for maintenance and upgrades as most software vendors include these perks as part of your package.

#2 Improved Inventory Management

Most web base POS solutions, if not all, enable you to track changes in your inventory in real time. You can easily gauge which products in your inventory are selling like pancakes and which items and goods that are not generating sales. You will be able to assess the performance of your products, spot trends, and determine how you can avoid over and under buying.

An online POS software is perfect if your business runs at multiple locations. If one store has run out of a particular item, the staff can easily direct your customers to other locations that still has that particular product in stock. Imagine the money and customers you will lose if you do not enjoy this particular feature.

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#3 Fast and Concise Inventory Analysis

Since you are well updated with your inventory thanks to your online POS system, you are able to create inventory reports and analysis with accuracy, speed, and ease. You can determine which stores are doing well, which sales should be attributed to a particular employee, and create effective marketing strategies based on the precise information that you get from your POS data analysis.

#4 Dramatically decrease the amount of paper work

And since almost every aspect of sales management and inventory are done online, you will find yourself not overwhelmed with papers, documents, ledgers, and spreadsheets. All information regarding your sales and inventory are now stored in secure cloud based databases, which you can access from anywhere and anytime.

#5 Improved documentation

Manual sales management and documentation may be required every now and then. But with an online POS system in place, management is made easier and faster. Data entered into database are updated in real time and are highly accurate compared to manually logging information on a document or even to an electronic spreadsheet.

By Jenny Chang

Senior writer at FinancesOnline who writes about a wide range of SaaS and B2B products, including trends and issues on e-commerce, accounting and customer service software. She’s also covered a wide range of topics in business, science, and technology for websites in the U.S., Australia and Singapore, keeping tabs on edge tech like 3D printed health monitoring tattoos and SpaceX’s exploration plans.

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