When you go in-store to make a purchase, you begin your experience with a trolley. You pick the products you want/need, and then end your experience at a pay point. For a customer, this point just entails the ringing up of products, followed by the payment that completes the purchase. For businesses, however, this is the point where a lot of backend sales activities need to take place.
Many factors are involved at this point of payment. These include data collection, sales tracking, inventory updating, and the acceptance of payments. This is because when a sale is made, products go out of the business and money comes in. It is, thus, the business’s responsibility to constantly update this data.
Manually doing this is extremely time-consuming and can be challenging to keep up with while also handling live customers. Moreover, it is also unnecessary because we have technological advancements that allow us to automate and execute these functions efficiently. Brands specifically Point-of-Sale Solutions at their pay points.
POS Systems
POS (Point of Sale) is the point at which a customer pays for the items or services they purchase. For example, when customers make purchases in-store and pay for them at POS terminals or other systems. This equally applies for online purchases on eCommerce platforms. It generally consists of specific hardware and software components that work together to streamline the entire payment experience.
A notable example of a great pay point application is the Magento POS Solution. This Solution helps businesses with managing their inventory, staff, and sale processes effectively. Merchants can actually extract useful data through such POS Solutions. Thus, using it to improve sales and customer experience tasks, like sales records and customer information. Apart from that, this POS Solution also gives your business the following benefits. For instance:
- Increases efficiency
- Data collection
- Effective analytics and reports
- Multi-store functions available
- Faster transactions
- Improvement of customer management
Traditional vs Cloud-based POS
Sometimes, companies use traditional POS systems that run on closed networks and store data on-premise, on local servers. This undoubtedly goes hand in hand with the use of traditional payment equipment, for instance, cash registers. On the other hand, however, we have cloud-based POS Solutions. More brands are using this type of POS Solution because it stores data online and requires no on-premise servers. Unlike traditional POS, this version is operational on portable devices, such as tablets, and as a result, requires less immobile equipment once again.
Both these types of POS Solutions are being used significantly today, and for several reasons. This is because although they serve the same function, they do share a variety of differences.
| TRADITIONAL | CLOUD-BASED |
INTEGRATION | Difficult integration | Easy integration |
DATA STORAGE | On-site | Online/In cloud |
SCALABILITY | Not scalable | Easy to scale |
MAINTENANCE | Manual | Automatic |
HARDWARE REQUIRED | Large, immovable hardware | Less hardware; portable devices |
The Magento POS Solution Consnet offers is cloud-based and, thus, gives your business the benefit of easy integration. This means it can connect to ERPs and third-party systems, automatic updates, scalability, and cloud data storage.
Robust POS features
The Magento POS Solution comes with a catalogue of features and, thus, functions that you can, thus, use to optimise your sales process. One can tailor the Solution to best suit their business, thanks to Consnet. Through brand-specific development and enhancements, they efficiently enhance your payment process with their Solution. Furthermore, here are of some key features of their Magento POS Solution, namely:
- Customises invoices
- Analysis sales reports
- Reduces manual data entry
- Keeps track of inventory
- Integrates loyalty programs
- Monitors employee actions
- Syncs order and customer data in real-time
- Uses when online and offline
- Manages transactions from one admin panel
- Personalises returns and/or checkout options
- Applies coupon and discount functions
To smoothly and effectively execute payment processes, implement Consnet’s bespoke POS Solution. By all means, we will help you customise, implement, and integrate a POS Solution that works for your brand. Get in touch with Consnet here. Their experts are ready for you.
