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HomeTechnologySigns It's Time for Business Owners to Upgrade Their POS Systems

Signs It’s Time for Business Owners to Upgrade Their POS Systems

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Technology changes fast, and business owners need to keep up if they want to remain competitive. Point of sale (POS) systems that were cutting-edge just one decade ago are now considered more or less antiques, yet many business owners are hesitant to upgrade their systems due to the cost of purchasing new hardware and software solutions.

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Not sure if it’s worth the cost of upgrading to a new POS system? Read on to find out about a few of the most common signs that it’s time to take the plunge.

  1. There Are Long Lines at Every Register

Modern customers expect the best when it comes to consumer experience, and that never includes waiting in long lines. Some business owners assume that if cashiers aren’t getting customers out of the store with their purchases in their hands and smiles on their faces as fast as possible, it must be the employees’ fault. If the POS system is more than a few years old, that’s likely not the case. The chances are, problems with the system are causing unnecessary delays.

  1. Cashiers or Customers Are Complaining

Upgrading to one of the user-friendly, modern POS systems from Korona won’t just speed up transaction times. It will also save cashiers a lot of headaches and improve their job satisfaction rates. Customers notice when cashiers are struggling with frozen platforms, constant reboots, or unnecessary hassles associated with performing even the simplest tasks because it leaves them stuck waiting for service for longer. Upgrading to a faster, more-efficient, easier-to-use POS system will create a better consumer experience.

  1. The System Isn’t Cloud-Based

Cloud-based software solutions are the future of business, and most business owners are already on board. Around 94% of modern enterprises already use one or more cloud-based services. Cloud-based software is easy to use, backs up data automatically, and can be accessed from anywhere. Business owners and managers with the right permissions can even keep track of store data from their smartphones, but only if their POS systems are cloud-based.

  1. Outdated Payment Processing Options

Payment Processing Options

Less than a decade ago, the most technologically advanced option for payment processing was debit and credit card readers. Today, an ever-growing number of consumers prefer to use touchless payment methods like Apple Pay. They can only use this safe, secure, and hygienic payment method if stores, restaurants, and other establishments have POS systems capable of accommodating it. Business owners can upgrade to POS systems with mobile payment processing capabilities to draw in new customers and keep their loyal consumer bases happy and healthy.

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  1. Limited Third-Party Software Integration

Modern POS systems can do a lot. They can process payments, manage inventory, keep track of customer purchases, and even analyze data to ensure that business owners have a good idea of what’s going on at their establishments. That said, there are some aspects of running a successful business that still require third-party software, such as tax preparation.

Some business owners may be used to transferring relevant financial data manually to QuickBooks or another accounting program, but that doesn’t mean it’s the best solution. Upgrading to a POS system with QuickBooks integration will save business owners and managers a lot of time and help to ensure accuracy. When the data can be transferred over to a third-party software program automatically, there’s no chance of transfer errors.

  1. Ongoing Inventory Issues

Ordering managers used to have a tough task on their hands. They had to keep track of stock and inventory by hand and square up the number of products in stock against sales data. Now, there’s no need for all that extra hassle. If ordering managers are still stuck calculating stock and placing orders by hand, it’s time to make a change.

Modern POS systems maintain detailed stock and inventory reports. Some can even automatically order new products or goods as they’re needed to ensure that restaurants never run out of ingredients and retail stores aren’t left in the awkward position of offering their loyal customers rain checks on the products they need the most.

  1. Payroll Problems

As small businesses grow and thrive, they hire new employees to help keep up with demand. While growth is always a good thing, it can create some serious headaches when it comes to managing payrolls. The most advanced modern POS systems can help with that, too.

Modern POS systems keep track of employee data, including timeclock data, to ensure everyone gets paid what he or she is owed on time. Restaurant POS systems even keep track of tip processing and reporting, reducing hassles for both waitstaff and restaurant managers.

  1. Inadequate Security

With so much of today’s business occurring online, data security has become a huge issue. Outdated software or hardware can leave companies vulnerable to cybercriminals. Modern cloud-based solutions provide advanced security features like encryption, event logging, and strong firewalls. The best way to deal with security issues tied to outdated software is to switch to a cloud-based system that updates automatically.

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  1. Budget-Breaking Fees

POS technology is now ubiquitous. While it used to be affordable only for larger companies, now, even small business owners can find solutions tailored to their needs and budgets. If the company is spending an outrageous amount of money on an older system that doesn’t even meet its needs, now is a great time to investigate more-affordable options. Cloud-based POS services are highly scalable, which means there are options available in every price range.

  1. Lack of Sustainable Options

“Going green” is the catchphrase of the day, and with good reason. Climate change is here, and it’s already disrupting everything from supply chains to individual people’s lives. Business owners can do their part by switching to paperless receipts and digitizing their records, but only if they have access to the right technology.

Final Thoughts

Don’t underestimate the importance of an up-to-date POS system. Finding and implementing the right modern solution will save business owners time, money, and a lot of headaches. No matter how long it’s been since the last upgrade, there’s no bad time to switch to a technologically advanced, cloud-based POS system.

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