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mPOS: The Benefits for Your Business
mPOS: The Benefits for Your Business If you’re like most retail business owners, you’re always looking for ways to improve turnover, grow your business and have processes run smoother. That’s why mPOS can be such a great solution for your business. mPOS is short for mobile point of sale, and it offers a number of benefits that can help improve your bottom line. Here are some of the key benefits of mPOS. Shorter Checkout and Return Lines One of the best benefits of mobile points of sale is that they can help shorten checkout and return lines. If you have mPOS units available, you have the option to flexibly and easily scale up during busy periods, with additional staff on hand to process transactions. Customers won’t have to wait as long to check out, which can drastically reduce abandonment rates, reducing your chance of losing a sale. Mobile point of sale units can also be used for returns, so you can process them more quickly, removing an additional friction point in your customer journeys. Integrate mPOS With Your Existing Systems Mobile points of sale can be used with most payment processors, so you can continue to use the same processor you’ve been using. Mobile points of sale should also be connected with your retail system (stock control and POS estate) so that you can maintain your central and single view of stock, which can assist with supporting the ever-important omnichannel customer experience. The Lowest-Cost Solution Mobile point-of-sale solutions are not low-quality or cheap, but they are the most cost-effective solution on the market. Mobile points of sale are a great way to save money and improve your business while getting the most value. Save Money and Make Your Life Easier with mPOS From Eurostop! If you’re looking for a way to improve customer journeys in-store, save money and improve processes, mPOS is the solution for you. With its easy setup and shorter checkout and return lines, mPOS can help you run your business more efficiently and improve your bottom line. Contact Eurostop to get a no obligations demonstration of our mPOS which doesn’t require any extra scanner and learn how it can benefit your business!
Choosing POS Systems: On-Premise vs Cloud-Based vs Hybrid
Choosing POS Systems: On-Premise vs Cloud-Based vs Hybrid If you’re looking for the perfect Point-of-Sale (POS) system to support your retail operation, it’s important to think about how the system will be hosted when making your decision. In terms of the basics, most POS systems today are fairly uniform. They almost always include: Terminals or tablets for viewing product, customer and sales transaction information Barcode scanners A PDQ (Process Data Quickly) machine for Chip & PIN or contactless card payments Receipt printers Cash storage POS software, which also may include inventory tracking and Customer Relationship Management One of the differences between systems is how they’re hosted and accessed. These models can be broken down into three types: on-premise, cloud-based, and hybrid. Let’s take a look at the differences between them. The Three Major Types of POS System Implementations 1 – On-Premise An on-premise system means that all information is stored locally, on your own systems. So you require suitable servers to ensure adequate system performance and appropriate space or a data center to house the equipment. This does give you a high degree of control over your own data, as well as meaning that your POS system can continue to function even if you lose your external internet connection. There are also security benefits since you aren’t accessing external networks. However, this can also be a very risky choice if you don’t have the correct infrastructure, resource and expertise to maintain resiliency. Unless you setup and maintain database backups, there will always be a significant danger of system failure or data loss. Likewise, if your servers go down, you’ll need an up to date disaster recovery plan to get you up and running as quickly as possible – essential in the always on retail environment. 2 – Cloud-Based With a cloud-based POS system, all the software and data are stored off-site, in external cloud servers. You won’t require your own data center or need to worry about hardware. This means that your system can be accessed anywhere in the world, allowing for robust remote POS setups, or even pop-up stands at locations such as trade shows. In addition, it’s typically very easy to deploy software updates, since updates on the cloud server will be instantly available to everyone. However, data storage and security will only be as good as the cloud host you use. Some hosts may also claim additional ownership or rights over the information. Plus, if you lose your internet connection, you lose access to the system. 3 – Hybrid Hybrid systems are a best-of-both-world solution. They utilise both local and cloud-based servers, often with one set to failover to the other in case of problems. When properly implemented, you get all the benefits of both types, with very few drawbacks aside from being moderately more expensive to initially deploy. Eurostop Eurostop offers one of the most-trusted hybrid POS systems in the world, powering a long list of highly successful retail operations. Contact us for a free demonstration.
What Features Do You Need from Retail ERP Software?
What Features Do You Need from Retail ERP Software? There are numerous retail ERP software solutions on the market, each with its own features and specialties – but some features should simply be considered must-haves at this point. If your current retail ERP software doesn’t include any of the following features, it’s definitely time to upgrade to a solution that will do a better job supporting your operation. Five Must-Have Features In Modern ERP Software Solutions 1 – Workflow automation Do your staff have to learn multiple systems with manual work to manage and maintain complex workflows, attempting to keep the systems running side by side, rather than using a single unified solution? Not only does this significantly increase work load for your staff, but it can also lead to errors over time or it may not even be possible to have your channels running with the same single view of stock, sales and product data. If so, you need better workflow automation in your ERP software. Today’s systems can unify all your channels and points of sale with a single platform and interface. This improves order processing and fulfilment, as well as providing a consistent experience to delight your customers. Do your customers have a significantly different experience when ordering online, rather than shopping in person? Customers don’t think in ‘channels’ rather they expect to be able to interact with your brand in the manner most convenient for them at any given time. For example, this may mean researching product information and promotions online, while coming in store to check a product out and placing an order for home delivery. Later they may want to use online help to get assistance with their order, and all the time, they value and most likely even expect a joined up experience. These micro-moments of interaction with your brand happen spontaneously with high expectation for quality responses from your customers, so you really need a powerful system supporting you to enable you to facilitate this. 90% of customers expect consistent interactions across channels and these omnichannel shoppers have a 30% higher lifetime value than those who shop using only one channel, so it is worthwhile investing in a software vendor that can facilitate this all important experience. 2 – Realtime universal inventory management For best results from your ERP software, it should give you complete oversight of your inventory with true real-time updates across all channels and your brick and mortar POS estate to provide a central repository for global stock availability. Stock totals can be updated instantly whenever a purchase is made, regardless of where or how the transaction occurred, and stock movements can be tracked precisely from fulfilment centers to stores. This ‘single view’ of stock gives you superior oversight and control of your stock. With the correct software to mine your sales and inventory data for valuable business insights, you can merchandise and move your stock to minimise stockouts and meet demand, resulting in an optimised stock position and minimising waste and reducing costs. However, this should also go further: 3 – Universal warehouse management Inventory needs to be tracked accurately within the warehouse, not just counted as an abstract number. A great retail ERP solution makes this happen. Barcodes or QR codes can be utilized to track each individual piece of stock, while monitoring it through various locations as well as states such as in transit or quality control, as well as integrating automatic handling of situations such as returns or re-stocks. This gives you complete oversight and control of every aspect of your inventory operations. 4 – Demand forecasting The best way to deal with over-and under-stocking issues is to not have them in the first place! Modern ERP retail software can do deep analytical reporting on sales trends over time, giving you detailed forecasts of expected demand in seasons to come. Plus, the longer you use the software, the more accurate these forecasts can become. 5 – Detailed tracking of important product attributes Retailers need to record many product attributes, so that they can analyse sales effectively. This could include supplier details, price strategies, seasons and delivery dates just as examples. Clothing stores need to pay close attention to sizes, colors and perhaps even fit – particularly if they’re going to successfully predict coming trends. Your retail ERP software should be able to track the attributes most important to your business. Retail ERP Software & Solutions Eurostop is trusted by major retailers around the world – and our scalable solutions can support your operation as well. Click here to request a free demonstration.
How Retail ERP Software Benefits Retailers of All Sizes
How Retail ERP Software Benefits Retailers of All Sizes For a modern fashion , footwear or lifestyle retailer or any other sales-focused business, one of the most important investments you can make is into high-quality retail ERP software. Enterprise Resource Planning software has become an indispensable tool for retail operations of all sizes because it pulls together valuable data from multiple different sources. A solid ERP deployment can encompass a business’s Customer Relationship Management (CRM) system, Business Intelligence (BI) analysis, inventory and ordering system, and more. In short, it provides a central focus to nearly every aspect of your retail operation, along with robust data-sharing and reporting systems that allow you to make the most of the information you have on hand. This leads to numerous benefits which are far more difficult to accomplish if you’re still using separate systems and databases. For example: Perhaps the most significant benefit to ERP systems is that it allows a single view of ‘truth’, so that you can best utilise your data to generate accurate but also tailored views to users. Data can be used to feed other business systems, such as your POS estate, merchandising, fulfilment, CRM and business intelligence systems. Customer information – Record customer account details, preferences and purchase history so that you can understand behaviour, demographically or by location, enabling better marketing and support opportunities. Product attributes – Be powered by the right software that allows you to record and manage products according to hierarchy, style or attribute. This level of organisation allows you to merchandise efficiently, using trends to cater to customer demand. Purchase, transfer, recall and replenish by attribute groups, rather than on a by item level, saving valuable time. For example if athleisure is doing well in a particular area, you may want to work on merchandising all sweathshirts as a group, rather than working on each style one at a time. Fulfilment – Knowing exactly where your inventory is based, and what you have available across your store portfolio will allow you to fulfil store requests and customer orders as quickly as possible. Multiple sales channels and fulfilment centres can certainly add complexity to operations, so for an omnichannel retailer an accurate and responsive system that has the right features to record and track stock is essential. Suppliers – Record supplier information and manage purchase orders and deliveries to identify the value of suppliers, plan cover and reduce risks of stockouts; or indeed overstocking (both of which can be costly in terms of lost sales or tied up capital expenditure and warehouse storage). Locations – Grade your store portfolio to allocate and replenish product and stock accord to targets or demand. In addition, you can report and analyse sales by location. The right ERP system will allow you to make the most of your stock in the right location, increasing turnover. Improved Targeted Marketing Campaigns Sending out identical offers to thousands or millions of people at once is ineffective, and customers are unimpressed with generic one-size-fits-all promotions. The trend is increasingly towards hyper personalised promotions and offers, which retail ERP software enables. By combining your CRM and Business Intelligence systems, you can gain deep insights into individual customer behaviour at a highly granular level. This makes it possible to send out truly personalised offers which are tailored to each buyer’s buying habits. You can even go beyond simply offering discounts on products they bought in the past by using predictive analysis to send offers for products they may want in the future! More Robust Point-of-Sale Services A single view of stock is essential when managing a multi-store operation. This single view allows retailers to effectively make the most of limited stock, especially during peak promotions. Since every POS in your store portfolio is synched with your ERP system, your retail staff will have a detailed view of where stock is in the business and access to customer account data. This means that they have the right information on hand to best serve your customers. If an item is doing particularly well in a prime location and has sold out, don’t lose a potential sale by missing the opportunity to source from another store or fulfilment centre. But you can only do this if you have a view of what is actually available and are able to locate the correct size/colour across your operation. An accurate and transparent view of stock means that retailers are able to minimise lost revenue. Furthermore, meeting demand and keeping customers happy, means that you can boost the instore and online experience and increase brand affinity. In addition, salespeople can now gain instant access to all your customer data, allowing them to offer targeted up sales. Plus, when this is combined with handheld EPOS devices, which can be taken to the customer anywhere on the shop floor, a far superior service is offered. Deep Analysis Of Sales And Stocking Trends It’s useful to know what products are selling and today’s ERP systems allow you to go much deeper. A clothing retailer, for example, can track items based on brand, size, material, colour, and more. This offers you unparalleled insights into purchasing behaviour and combined with historical data, can allow you to recognise new trends and create the correct plans to allocate and replenish your store portfolio. Get Retail ERP Software & More Eurostop is trusted by retailers around the world, with cutting-edge software and hardware solutions for managing your business. Contact us for a free demonstration.
Must-Have Features in Retail EPOS Systems for 2021 & Beyond
Must-Have Features in Retail EPOS Systems for 2021 and Beyond As with all technology, retail EPOS (Electronic Point-of-Sale) systems are continuing to evolve and improve every year. You probably already have an EPOS system in place, but if it’s been more than a few years, chances are it’s lacking many of the features that are now coming to be seen as standard – and expected. This won’t simply put you at a disadvantage relative to other retailers with more modern systems. It can even harm your customer experience, and good CX is critical for holding onto customers. Today’s retail EPOS systems are robust and full-featured, capable of handling a wide variety of tasks at once which saves time and money while improving service. For example… Full Mobile Payment Support EPOS systems are no longer locked to physical sites. The best EPOS service providers also offer dedicated highly secure mobile devices which can do everything an in-store POS system can but in a handheld form. This allows your representatives to go anywhere and make sales wherever they may be. It can even enable service reps to directly place orders while working with a customer. Mobile EPOS systems are also perfect for trade shows, fairs, and pop-up stores. Direct Access To Your CRM EPOS systems don’t merely process payments – they can be connected directly to your Customer Relationship Management system or other customer databases. Staff processing sales can see all relevant information on the shopper, which gives them extra intelligence for offering relevant up sales and other services. This can also speed up the checkout process when nearly all needed information is already available at the salesperson’s fingertips. Accepting A Wider Variety Of Payments The number of payment methods a person might want to use has skyrocketed in the past decade. Consumers have come to expect numerous types of electronic payment systems such as mobile wallets, contactless (NFC) payments, not to mention Buy Now, Pay Later ( BNPL) and cryptocurrencies. Which payment types you choose to accept will depend on your needs, but broadly speaking, accepting more types of payments will benefit both you and your customers by offering choice and convenience. Ease Of Use Fortunately, all these new features don’t make current EPOS systems overly difficult to use. Advances in user interfaces have enabled highly robust retail EPOS devices which are also easy and intuitive to use. This reduces training costs, as well as speeding up checkouts – another way to improve your CX. Businesses around the globe trust Eurostop, one of the top providers of POS and retail management systems in ternationally. Click here to request a free demo!
How Mobile Point of Sale (mPOS) Systems Go Beyond Payment Processing
How Mobile Point of Sale (mPOS) Systems Go Beyond Payment Processing Mobile Point of Sale (mPOS) systems are becoming true game-changers in the world of payment processing. With mPOS devices, you can accept payments literally anywhere, using a convenient handheld system. They accept a wide range of payment types and are also popular with customers affording them the option to make payment flexibly in convenient locations in store. Smaller businesses can particularly benefit from mobile Point of Sale systems since it allows them to compress a lot of processing power into a single device with a small footprint. However, businesses of all sizes can make use of mPOS, as the technology also allows a business to scale up flexibly during busy promotional periods and can be used to facilitate social distancing required as a result of COVID-19. mPOS systems go well beyond simple payment processing, with features that can make it far easier to manage a retail business. These are some of the most important features that often go overlooked. Five Extra Benefits From Mobile Point Of Sale Systems 1 – Dedicated devices bring extra durability and convenience Some mPOS systems run on standard consumer-grade phones and claim this is a benefit. However, the actual benefits of this approach are questionable because of two main issues. First, all too often they rely on smartphone cameras for scanning, which can be unreliable. Dedicated devices may also contain integrated card readers so that you don’t have to worry about carrying additional devices and connection issues. Furthermore, handheld units also need to be robust as hopefully they will be in frequent use, not to mention surviving accidental drops. Phones are much less rugged than specialised hardware. A better approach is to utilise robust and dedicated devices custom-built for the purpose. They cost a bit more to lease, but you get dedicated scanners which will be far more accurate and reliable than what are found on smartphones, and hardware that offer you and your customers a superior experience. 2 – mPOS Devices Become Cashflow Management Systems Businesses that are primarily or entirely mobile/digital, without physical holdings, are often challenged to properly track their cash flow. Because mPOS systems link directly into transactional databases, they become an easy way to track cash flow in and out, as well as analyse sales trends. This tracking can, for example, prevent over-or under-stocking on seasonal items by giving business owners all the sales information they need, right at their fingertips. 3 – Collecting And Accessing Customer Information On The Go Another way that mPOS systems go beyond simple payment processing is that they can also be a valuable part of your customer relationship management. Along with payment details, mPOS devices can capture numerous pieces of customer data, instantly adding them to your CRM database for analysis or retrieval. This is particularly important if your business caters to younger buyers like those under 40. These buyers have grown up in an intensely personalised sales environment and expect an “Amazon-style” sales experience whenever possible. Collecting their data with your mobile Point of Sale device allows you to offer customised promotions, personalised coupons, and similar incentives which are targeted directly at each buyer. 4 – Instant Integration With Your Online Systems For businesses running multiple or mixed physical and digital sales channels, tracking inventory and sales can be a complex operation. This is especially true if both physical and digital outlets are pulling from the same stockpool, be that warehouse(s) and/or stores. It’s critical to avoid stocking issues that could delay or prevent deliveries. mPOS devices prevent these sorts of issues because they connect directly to a central inventory database, as well as feeding into the same overall sales data as every other aspect of your business. All data is instantly accessible on the device, allowing for on-the-go monitoring of the state of your business and stocking, no matter the situation. 5 – Having A Backup Plan In Place Finally, one of the most under-discussed benefits of mobile Point of Sale devices is their ability to act as backup systems. What if, for example, the power goes out in your business, or your main digital connection goes down? Your mPOS devices are there, battery-powered, and utilising cellular service rather than a wired connection. They’re an excellent failover option if contingencies have gotten in the way of your daily business. In addition, their portability makes them a great option for a variety of short-term applications. They’re perfect for situations such as pop-up stores, trade show booths or street fairs, where you don’t want to haul major computing equipment around. Having a few mPOS devices allows you a lot of extra flexibility. Get Mobile Point of Sale (MPOS) Software Eurostop is one of the most trusted providers of POS systems in the world, with a variety of software and hardware solutions for every need. Click here to request a free demonstration of our systems!
Is It Time to Update Your Retail POS System?
If you’re in retail, you undoubtedly have some form of retail POS system in place, with software running your various points-of-sales which are probably linked together in some way. However, there have been big advances in POS software in the past decade – Big advances in both cloud computing and “smart” processing systems that allow modern retail POS systems to go far beyond the terminals and database-style number-crunching typical in older POS software.
Why Retail ERP Software is a Must for Fashion & Footwear Retailers
Why Retail ERP Software is a Must For Fashion & Footwear Retailers When managing a fashion or footwear retail operation – or any retail business – you have a lot of moving parts to keep track of. You need to stay on top of your products, stock, suppliers, allocations and replenishment, reward your loyal customers, measure the effectiveness of promotional campaigns, and always keep an eye on your bottom line the whole time. The amount of big data a modern retailer has to keep track of can be overwhelming. That’s why the tailored Enterprise Resource Planning (ERP) software systems from Eurostop can be so beneficial to fashion and footwear businesses. The right retail ERP software suite, customised to your needs, can streamline numerous aspects of your day-to-day retail operations, while also acting as a quality business intelligence tool for making smart, data driven decisions. What Is Retail ERP Software? Simply put, retail ERP software is a centralised piece of software which creates a single view of stock that contains everything you need to manage your retail operations and store portfolio. It connects various software tools while adding all data to a database or datawarehouse where data can then be mined, analysed and reported on. A typical retail ERP software package includes: Integrated (or connected) Point of Sale (POS) Inventory Management Supplier Management Order Management Merchandise Management Promotions Management Longer-term trends tracking and predictions CRM-style features for tracking individual customers or demographics Integration of multiple sales channels, promotions and reporting However, one benefit to tailored retail ERP software over a traditional ERP system is that the included modules can be customised, included or excluded based on the specific needs of your retail operation. Why Do Retailers Need ERP Software? The primary purpose of retail ERP software is to maintain accurate stock control while streamlining operations, which can also reduce costly mistakes such as stocking errors. For example, when a customer makes an in-store purchase, the point-of-sale system is synched to the ERP software with a fast and intuitive POS interface that makes it easy for the salesperson to process the sale with accurate stock, pricing, promotion and customer loyalty data. This makes a happy customer since the process happens so quickly and efficiently, minimising potential errors and time waiting at till point. During this process, sales staff may also capture customer loyalty information, including name, address, and (optionally) payment details. This data is stored and can prove invaluable for tracking customer purchase history and future marketing opportunities. As each POS in the estate is tied directly to the main stock control system, it automatically updates stock totals to reflect sales and refunds so that levels are transparent across your POS estate, channels and also at Head Office. This can prevent multiple channels competing for the same item of stock, allowing you to fulfil requests or orders accurately. Later on, if the customer visits your online store because they want to buy more of a particular item, such as socks, by logging into their account they can see their own purchase history. This allows them to quickly identify and re-order the socks they want or find other cross sell or up sell opportunities. The system may have even stored their payment details and preferences, to make checkout even faster. Then, when you’re trying to make purchasing decisions for the upcoming season, you can make effective use of this data – as well as information from all your other customers – to best understand what styles and colours sell, and in what locations. You could also pull up information on your bestselling channels, or even information on sales staff, to see who’s most effective at upsells, or fastest at processing orders. It’s easy to see how this level of automation and data collection can simplify your life and importantly enhance your retail business. How should Retail ERP Software Be Setup For Fashion and Footwear Retailers? That’s an overview of some of the potential customer touchpoints with your brand and how ERP software can assist the customer journey, however managing retail actually goes much deeper. So what sort of setup is particularly beneficial to retail operations? Master Data Management A retail ERP system should allow you to setup products by hierarchy or using attributes. This may include organising products by season or other merchandising groups, allowing retailers to manage and report on data correctly to effectively manage their operations. Size and colour variants are significant in the fashion and footwear industry. It’s important to be able to group SKUs (a particular colour and size variant) without having to setup hundreds of variations of the same product. Not only is the latter option disorganised, but it means that you can’t report easily for example on how well a particular colour line is selling without having to aggregate sales for different sizes. As an example, you may have a dress that comes in 3 different colours and five different sizes. This can be setup as 1 product, with 3 colour and 5 size variants, which is in effect 15 SKUs. The system will then be able to report on sales by individual colour (which would allow you to see which was the most popular colour) or by size. In addition, you would be also able to report on how well the dress sold as a whole that season. By having the right data available in an intelligent format, you can report and better understand your customers’ preferences at both a granular and summary level, to merchandise according to demand. Supplier Management Retailers may have a range of suppliers from which they order their product ranges. A holistic retail ERP system will also cater for supplier management. It could also include features to manage information such as supplier prices (cost, rrp, selling price) and packs. The system will process purchase orders for suppliers and allow you to book in and receive deliveries at stores or warehouses. Stock Management Stock movements and statuses can be complex; from booking in to receiving and statuses such as in transit, quality control, to
5 Reasons Every Retailer Needs Retail EPOS Software
What Benefits Does Retail EPOS Software Bring to Businesses? Modern retail is more complicated than ever before. Even small operations may find themselves juggling multiple outlets, balancing both offline and online sales while struggling to stay on top of their business. In response, retail EPOS (Electronic Point of Sale) software has become more robust, providing the best way for retailers to manage stock, keep track of customers, and make smart data-driven decisions about the future. There are many benefits to investing in retail EPOS software, and few reasons not to. Five Reasons Every Retailer Needs Retail EPOS Software 1 – Improved inventory management The right EPOS application can help you manage inventory across multiple outlets, as well as online shops. You can track all inventory at a glance, as well as instantly getting detailed reports on sales, stocks, and trends. This allows you to make much more precise orders and avoid under/over-stocking. 2 – Faster checkout processes Today’s customers are time-focused and don’t like having their time wasted. Whether it’s standing in line at a store or waiting for online sales to process, they want the process done as quickly as possible. EPOS software allows you to streamline this process, reducing customer inconvenience. In turn, this leads to improved customer satisfaction and more repeat business. 3 – Improve consistency across multiple outlets Maintaining the customer experience across every outlet can be difficult without a centralised software solution tying it all together. EPOS software allows you to maintain prices and stock across every outlet and avoid situations where the experience could be degraded in different areas of your business. 4 – Better employee management Retail EPOS software gives you significant insights into the behaviours of your staff. Employee logins are tracked, and their performance can be analysed with the same level of detail as your stocking and ordering. You can quickly see who is most efficient at working the system, or who makes the most upsells, and adjust rewards or training as appropriate. 5 – Access your information from anywhere EPOS systems are cloud-connected, and accessible from anywhere in the world. Even when you’re on business trips, you never have to be disconnected from your business. You can oversee it from anywhere, seamlessly. Eurostop is one of the top providers of EPOS and ERP systems, with software in more than 12,000 retail outlets around the world. If you’re ready for a better way to manage your retail operation, contact us to learn more.
What is Mobile Point of Sale? Your Guide to MPOS Systems
These days, you’d be hard-pressed to find a simple cash register being used to ring up sales at any retail establishment. Technology is advancing at an impressive rate, and the impact is not lost in the retail arena. In a connected world, where omnichannel is key, digitally connected systems are in fact indispensable. These software systems can provide retailers with a host of different features and benefits to assist and empower them do everything from process sales (POS, MPOS) to enhancing customer relationships (ERP software). However, it’s important to understand why mobile point of sale systems are so important for the retail sector, as well as some of the advantages they can provide. That’s why the team from Eurostop has gathered an in-depth guide for you here about the uses and benefits of MPOS software. What Exactly is a Mobile Point of Sale System? Before diving into the benefits and other details of mobile point of sale systems, it’s important to have a clear understanding of precisely what they are and how they work. Unlike traditional POS systems that store customer data and take transactions at a fixed till point, MPOS systems are completely mobile. This enables retailers the freedom to get out from behind the cash desk and help customers from anywhere on the shop floor, or even outside a brick and mortar store, while still having all the features of a traditional POS system at their fingertips. Mobile POS systems often consist of mobile devices such as tablets, handheld units or smartphones that take the place of traditional cash registers or point of sale systems. They can also come equipped with add-ons, such as card readers, chip scanners, receipt printers, and other components. In terms of software, the MPOS system links all of these components together, using innovative cloud technology that helps you to track sales better, help customers, and provide any other necessary information to complete sales from any location, as long as there’s a wireless connection. Top 5 Factors to Review When Choosing a Mobile POS System If you’re considering investing in a mobile POS system, there are some important things to make note of, such as: Support for Mobile Payments: These days, many transactions are processed utlising customer smartphones with mobile wallets – the uptake of which has been accelerated by the COVID-19 pandemic, which saw shoppers and retailers curtailing the use of cash. So it’s important to make certain that any mobile POS solutions you implement are compatible and designed for a range of payment methods including mobile payments. This way, your customers can select to use options such as Google Wallet, Apple Pay, and other options, whatever is most convenient for them, which will enhance your brand experience. Most important, you don’t risk losing a potential sale. Support for EMV Chip Credit Cards: Credit cards are created with EMV chips, making swiping unnecessary. Contactless payments are also possible if the sales value is under the contactless limit, or the credit card is simply inserted into a card reader located under the MPOS device’s pin pad, making the process extremely simple. We recommend selecting a vendor that supports an all in one device which will processes integrated payments. This means that your store associates won’t have to carry a separate PDQ (credit and debit card) machine and neither will they rely on a reliable wireless connection, all of which makes the solution truly mobile. Support for Multiple Registers: For large retailers, you’ll need to ensure your mobile POS system can handle multiple registers and transactions simultaneously. Not only will this make the transaction process more efficient, but also offer your shoppers a choice of options and enable you to grow your business without the need to invest in new point of sale software/hardware as you scale up. Reliable Barcode Scanning: Every interaction at payment has the potential to impact the experience that your customer has with the brand. So a seamless checkout experience with accurate and robust barcode scanning is essential. Make sure that your solution uses technology that can scan barcodes reliably every time. Some solutions use phone cameras, or a separate scanning device, but these can be unreliable and increase the footprint of your mobile solution. Even better is an integrated scanner, which will enable you to add items to the sale quickly from the same device, with accurate pricing and promotion information. Top Benefits of Implementing a Mobile POS System There are many benefits to implementing a mobile POS system in your retail establishment. Some of them include: Increased Security: Mobile retail systems help provide your customers with increased security. This is because they all need to comply with PCI guidelines or EMV technology, which offers safer transactions than other alternatives. Reduced Wait Times: With MPOS solutions, you’ll no longer have to risk losing business and a potential sale due to the sight of long queues and increased wait times. As well as assistants behind the cash desk, you will have the flexibility to deploy additional mobile staff on demand to process transactions and assist with customer queries directly on the shop floor. This is especially useful for busy promotional periods or during peak hours. Added Floor Space: One of the biggest advantages of MPOS systems is that they don’t take up any floor space like traditional POS systems. This means more room on the floor to highlight your products. In addition, where social distancing has become mandatory during the COVID pandemic, mobile POS units can give you the added flexibility to make smart use of your space. Customer Data Collection: MPOS systems help you collect important data about your customers from purchase history and preferences to personal information like emails and phone numbers. This makes it easier to implement loyalty programmes and assists you in providing a personalised service when they walk through the door. Easy Reporting: Being able to analyse performance and react to changing footfall, environmental factors and promotional campaigns is paramount to a growing retail business.