Sugar-Coated Myths V/s True Reality
Performance based Cloud POS System myths
Myth # 1
There’s no way that a cloud-based POS would be able to handle the orders in mass at peak hours or during peak season or a big bundle of orders that the restaurant fills at a dinner time.
This has been a common cloud POS System myth that it will be unable to perform at a larger scale for the mega stores, big restaurants, and shopping malls.
Some entrepreneurs also believe it to be applicable only for the small restaurant, cafeteria or for the local retailers that have to perform less number of transactions in a day.
They think the online POS system is not for those who need to deal with just-in-time delivery of the order or for a large number of transactions.
According to them, the system may get a freeze during the busiest hours with highly affecting the turnarounds in order.
With the cloud-based POS System, the store manager will be able to serve a large number of guests at a time without a single error in the order confirmation, receiving payment and invoicing process.
The service providers will be very much able to serve customer satisfaction with one minute turn time to deal with each order.
All they need to do is scan the barcodes, add the applicable discount schemes or promo codes, and process the payment. The POS system will auto-generate the invoice and update the inventory data.
In this way, the staff attending the customer will save time and energy to complete the point of sales much easier.
Myth # 2
Cloud-based POS system cannot manage and control the Pilferage, Shoplifting and Waste management.
Waste management is one of the hot topics that almost all the restaurants, malls, food courts, pharmacy store, and retailers keep an eye on.
Pilferage referred to as theft of items with little values and also shoplifting referred to as unnoticed stealing of goods from the stock is a sincere concern for entrepreneurs today.
Inspection rounds through physically visiting the stores or malls is what many business owners do to control the waste and theft of stock.
They believe, the cloud-based POS system is not capable to authentically and strictly keep a check on waste, pilferage and shoplifting activities at the store.
The technology proves that this cloud pos system myth is wrong.
The cloud-based POS system is highly capable to first of all track the waste of stock and theft from the store or a warehouse.
With a well-defined barcode scanning system in place, the inventories purchased, stock displayed, the stock sold and the cold stock is managed on the cloud system.
Single error detected through the variations in stock countings will instantly update the owners about the unnoticed activities or waste incurred.
The business owner can then track the exact location, which products are wasted or stolen, the person responsible to handle that stock and even the person who stole the stock at the floor or in godowns.
Those who actually believe that cloud-based POS system is an apt option to control the waste and theft of stock get stuck on – How is it technically possible to manage this with the cloud-based POS system?
For this, the POS system is equipped with tech tools like:
- A friendly and interactive tool for employees to report the theft
- Monitor employee activities closely
- Easy tracking purchase orders
- Controlling the invoicing and cash receipts
- Informal and surprise audits tools
- Device security measures
- Track and manage the business checks
- Strict and secure inspection on the inventories
Myth # 3
The cloud-based POS system is slow and lagging as it only updates with internet dependency.
This cloud pos system myth is true in some cases as the internet speed directly affects the speed of the online POS system.
If the pharmacy store, mall, restaurant or a factory outlet has a small bandwidth or lagging internet connection, then for processing orders, running reports, processing payments and generating invoice can take a longer time.
The situation will turn exactly the way it buffers at the time of watching online videos or loading websites.
The stores should be equipped with higher bandwidth connections.
The POS software specialist who develops the online system can help evaluate the internet speed that will be sufficient for the system to run smoothly.
Owning a wifi connection or investing in internet connectivity at the store has many benefits apart from operating the cloud-based POS system.
It can help to operate the security cameras at the store, to use emails, chats or video calling for inter-departmental communications and much more.
Myth # 4
It is difficult to search past data through a cloud-based POS system.
Many business owners have been habitual to search past data from the big pile of files.
This way of data searching has been their routine activities, that have made them pretty quick to find the right file and get the old documents.
When it comes to the cloud-based POS system, they think using the search bar and secondly searching the file from the list of search results and lastly downloading it is a highly hectic task.
Also, the speed to download the past data has internet dependency to quickly review the loaded file.
The cloud-based POS system has advanced search options for users.
Be it searching data based on location, store, restaurants, revenues or even loyalty programs.
The online POS system can be customized as per the search options that the owner wants to feature with varied filtrations on the search bar.
Myth # 5
POS system won’t be operable offline.
When it comes to the travel, hospitality, tourism, medical, retailers, and hotel industry, many of them have a misconception that all the data will be lost as the internet connectivity goes down.
According to them, they will not be able to deal with the orders taking, process the payments and invoicing if the internet connection is slow or goes down.
The cloud-based POS system also has an inbuilt functionality of offline mode for the users. This will help them to continue their business operations even in the case of losing internet connections.
Switching to the offline mode will help the users to take the orders, send data to other devices, and process the invoicing without internet connections.
As an when the internet is reconnected, all the offline operations will be well synced into the cloud automatically.
Myth # 6
Partial payments for customers is not possible with online POS system.
Through the traditional process of payment, customers can pay a partial amount for the products and purchase with a promise to pay the remaining amount later.
All that a cashier has to do is record the partial payment data in the cash register.
With a cloud-based POS system, many people believe that it will turn much more difficult to accept, record and provide invoices of the partial payments.
The customer can easily secure a product to purchase later by paying a lay-by.
By adding one option of ‘partial payment’’ for the cashier, the lay-by paid by the customers can be speedily recorded in the system.
A reminder of validity completion for the remaining payment will be linked and uploaded on the calendar for the employee to remind the customers for full payment prior to the due date.
It will make it all the more smooth for the store managers to handle partial payments through the cloud-based POS system rather than the tradition POS.
Myth # 7
The cloud-based POS is not apt for the product return and refund processes.
Many entrepreneurs think that it will all turn a costly affair to handle the refunds and returns through a cloud-based POS system.
According to them,
It will be more complicated to combine the cost of product returns, the distribution channel involved with goods return, the expense of product disposition, shipping cost, and the time required for inspecting returned goods.
They find it difficult to analyze and manage the inventory records and customers in the cloud-based POS system.
The cloud-based POS system is strong enough to convert the shoppers into repeat consumers.
The POS system can be customized with hassle-free exchanges and returns for the customers.
With few mandatory and detailed conditions, the customer can return goods and easily get the refunds the very next day through online POS system.
The parameter to inspect the goods returned by customers will be accurately added on the app which the responsible staff has to verify.
If the product to be returned is as per the conditions, the responsible staff has to just click the confirmation button and the rest is what the system will handle.
It will auto update the returned goods in the inventory records, provide new barcode to label the product and automatically make online refund payments to the customers. This justifies that the underlined cloud pos system myth is not true.
Myth # 8
Another Cloud POS system myth is it cannot manage customer loyalty programs.
The customer loyalty programs are at the kernel of maintaining and building strong customer relationships for every industry verticals.
Some people believe in the face to face interactions, using messages or emails for the birthday greetings to the customer with a loyalty coupon or rewarding the loyalty points encouraging the customers to make more purchases.
They think the cloud-based POS system cannot be an effective medium for offering loyalty programs.
One can include multiple loyalty programs in a custom POS system. Like,
- A much simplified points-based loyalty system
- Provide credits to enjoy the VIP benefits offered by the company
- A tier-based system to provide loyalty points for customers to make more purchases later
- Provide all-inclusive offers by indulging into partnerships with other businesses
- Bonus points with every purchase made by the customer
The entrepreneur can also fuse-in other loyalty programs like smart gift cards or gift vouchers apart from those outlined above.
Also, these loyalty programs can systematically be linked with the invoice and payment processes in custom POS system.
Myth # 9
Delay in depositing funds to the customer’s account.
Plenty of people do have a misconception that depositing the funds in customer’s account through a cloud-based POS system will face a delay.
They consider debiting or crediting the funds from POS device, mobile, laptop or through tablets can take longer to hit a deposit on the customer’s account.
Or they fear to pay a high fee for every transaction done with the customer.
The cloud-based POS system can be featured with integrating APIs of payment processors who provide same day deposit services to the customers.
The system admin can also schedule the deposits to occur at the set timings which will help to automatically send money to customers account the same day or later that same day.