A recent study by Yankee Group found that more and more businesses are trading in their traditional cash registers for sleeker mobile point-of-sale systems. It appears that smartphone dongles and iPad POS terminals aren’t just for food trucks or neighborhood boutiques–they’re for businesses of all shapes and sizes.
In fact retailers seem to have really embraced mobile POS systems this year. According to the Yankee Group survey, 61% of U.S. merchants with over 500 employees have either already deployed mPOS technology or are planning to do so within the next 12 months.
Is it time for your business to follow suit?
Answer: If you’re still using an old cash register, then yes, you should really look into switching to a more modern POS. You’d be doing your business–not to mention your customers–a favor, and here’s why:
1. They’re really portable
Portability is perhaps the most obvious benefit of having a mobile POS. Compared to large cash registers, these POS systems are light and easy to transport, giving sales reps and customers the mobility to complete purchases from virtually anywhere in the store.
And it’s not just about the checkout process, either. mPOS systems can put a store’s entire inventory and CRM straight into the hands of its users. How many times have you lost a customer because a staff member was taking too long looking for products in the back? With an mPOS system, sales reps can instantly check if an item is in stock.
In addition, the compact size of mobile point-of-sale systems gives retailers plenty of space, allowing them to be creative and improve the flow of traffic within their stores. It lets them adopt modern store designs and offer additional room for other products or marketing collateral.
2. They make it easy to go paperless
Mobile point-of-sale systems make it easier for business to eliminate paper receipts. Aside from being the greener option, it also helps prevent additional costs and clutter, making it an attractive choice for both businesses and consumers.
The paperless trend has been growing rapidly over the years. In a survey of 3,900 retailers, it was found that 35% are already offering digital receipts. Isn’t it time for you to do so, as well?
3. Retailers can provide a more engaging customer experience
Traditional point-of-sale terminals have literally put a barrier between merchants and consumers. The bulky nature of registers combined with long lines and large cash wraps can send an intimidating and unattractive vibe towards consumers.
Mobile POS systems can eliminate that divide and allow merchants and customers to complete purchases face-to-face or even side-by-side. This paves the way for interaction and engagement, enabling merchants to get to know their customers better and vice versa.
4. They support multi-channel businesses
mPOS systems can unify store data across multiple channels (i.e. physical location, web, mobile), so companies can smoothly conduct business on several platforms. Businesses that have multiple locations or those with both brick and mortar and eCommerce stores can manage products and process payments across different channels without missing a beat.
And since the data is stored and updated in the cloud, retailers can access information using several devices from just about anywhere, as long as they have an internet connection.
Shoppers on the other hand, will benefit from a more seamless web-to-store (and back) experience. Mobile POS systems work fast and are able to deliver the most accurate and up-to-date product information to customers, whether they’re shopping at a physical location or browsing the company’s web store.
5. Customers can have more payment options
Aside from being able to accept cash and credit cards, most mPOS solutions also allow merchants to process other types of payments. PayPal for instance, recently launched PayPal Here and teamed up with a number of POS vendors to let them accept payments via PayPal, eliminating the need for cash or credit cards.
And that’s just the beginning. The Mobile POS space is continuing to expand, so expect more institutions and stores to start accepting additional payment methods in the immediate future.
About the Author: Francois Bondiguel works for Vend, a point-of-sale, inventory, and customer loyalty software that helps over 8,000 retailers manage and grow their business. Connect with Vend on Google+ and LinkedIn.