Is Cloud POS Profitable to your business?

Posted by Jim Walker

Cloud POS has come up as a great move from a client-server platform that most of us know. But it doesn’t turn down the merchants. According to a survey, over 6 in 10 merchants are ready to move to cloud POS systems. This system has a lot of benefits over traditional POS. 

About Cloud POS 

Cloud POS totally redefines the way we think of the POS process that is used by merchants to do card transactions. A traditional POS simply connects your POS terminal to the server. This way, you can catalog and capture transaction details, payment details, and other information for storage. 

The system depends on a vast network of routers, wires, and other devices to keep the pieces connected together. However, it may have some issues. For example, you need a lot of hardware components. In addition, a complex system is more vulnerable to errors, malfunctions, and even hacks. On the other side, cloud POS comes up with a lot of benefits – 

Cost-effective

Cloud POS is simply a software-as-a-service (SaaS). You don’t have to pay for license fees, hardware, and terminal fees. You can get regular updates and support from time to time for monthly subscriptions. 

Simple 

You don’t have to bear the maintenance of networks, in-store servers, and equipment. You just have to download the software and you can accept orders right away. You will simply get the updates from your SaaS provider.

Flexible 

A lot of small businesses consider native POS overpriced and limiting. On the other side, cloud POS is easily available with a limited budget. 

Security 

Instead of keeping all the payment details on a single server that can be lost easily, you can back up the information with cloud POS to a remote server. This way, it adds up security and protects your business and customers as well. 

Are there any drawbacks?

There is another side of the coin. You may find a lot of myths related to cloud POS. For example, there is a fear that the cloud is a ‘digital NO Man’s Land’ or unsecured. Irrespective of this belief, cloud POS is even more secure than native on-premises POS. Of course, there are worries of internet connectivity. But your data is still secured if you lose connectivity. You can simply backup whenever the connection is restored.  

Bottom Line 

In the end, cloud POS really overpowers the traditional POS when it comes to benefits. A lot of businesses will enjoy lower costs, improved processes, and better management of data and processing by switching to cloud POS. No matter how information is handled, you need to do everything you need to control risk to prevent fraud. All in all, opting for cloud POS can be one of the best choices for your business success. 

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