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Of all the benefits that mobile tablets have delivered in terms of convenience, one of the standout uses is mobile Point of Sale (mPOS).
Portable, affordable and scalable, mPOS has reinvented the traditional Point of Sale, allowing retailers greater flexibility and adaptability in a rapidly shifting and increasingly competitive retail landscape.
Here’s an insight into mPOS and its many, many benefits…
mPOS harnesses the power of mobile tablets (or mobile phones), which access the Cloud to store data on inventory, sales, transactions and even customer information courtesy of apps like Square, LightSpeed, ShopKeep etc.
Combined with features like payment processors, barcode scanners, and cash drawers, this tablet replaces the traditional Point of sale, which relies on expensive software, fixed computers, and generally stores much of its data on-site.
So what exactly are the benefits of mPOS?
Compared to legacy Point of Sale systems, mPOS is far more streamlined and convenient to implement.
To get started, all retailers require is a tablet and an app. Inventory is then input into the system along with prices, and data is stored in the Cloud. Add a payment processor to take card transactions and the bare bones Point of Sale is complete.
From there, additional features like wireless cash drawers, and barcode scanners can be added to offer a full-service Point of Sale suited to large and small retailers alike.
A key bonus of mPOS is the affordability it offers. Tablets are often far more affordable than desktop computers or purpose-built POS terminals, while the software apps for mPOS also command lower fees than traditional POS software.
mPOS is designed to be scalable, with app subscriptions available to suit sole operators, multi-outlet retailers and big brands alike.
That means the system can grow along with the retailer. New users can be added as the store employs additional staff, additional devices can be added so the retailer can offer more registers, and entire new outlets can be added for multi-location brands.
Critically, this scalability continues to be convenient and affordable, requiring only the addition of new tablets and an increased subscription.
A key attribute of mPOS is its sheer mobility. Rather than a fixed Point of Sale, the retailer or hospitality provider can take the Point of Sale to the consumer, processing transactions on the shop floor.
The mobility of mPOS and its scalability results in improved speed at the checkout. As mentioned, the retailer can process transactions on the shop floor, or alternatively they can affordably and conveniently open additional registers to cater to increased customer volume.
The scalability, affordability and speed of checkout that mPOS offers allows for increased retail flexibility. And this has been particularly important during the tough landscape brought about by COVID-19.
mPOS has allowed retailers to adapt and pivot to deliver buy online pickup in store (aka BOPIS or Click and Collect) along with contactless pickup, pop up shops and more.
An often-underestimated benefit of mPOS is the additional space it allows in a retail outlet. Due to its compact nature, and the fact data does not need to be accommodated on-site in a hard drive, mPOS requires a lot less space than conventional POS, is less cumbersome and more aesthetically appealing.
Due to the fact mPOS data is stored in the Cloud, it allows for real time data and remote access. Management simply logs into the app from wherever they are based to see up-to-the-minute sales transactions, who’s on duty, and how one shop may compare to other outlets.
Last but not least, mPOS offers improved data security and storage. mPOS app providers base their reputation on data security that is second to none, while data which is stored in the Cloud is protected from on-premise threats like fire or flood.
Cloud storage also offers the opportunity to increase or decrease a retailer’s data storage requirements as needed, rather than implementing complex hard drives and back-up systems.
Since the first iPad hit the market in 2009, mPOS has been emerging as a simple solution to the complex issue of retail Point of Sale. Convenient, affordable, and scalable, it allows the retailer to take the register to the consumer, facilitating improved customer service in the process.