Market Needs
Point-of-sale (POS) systems have been around in one form or the other for decades. The POS system covers all functions done at a business from order processing to inventory management to loyalty programs. It is more than a cash register – a core management tool for any small or large businesses/industry such retails, hospitality, transportation etc. With the right hardware and software programs/downloaded applications, businesses can easily process transactions, improve/track sales and inventory, provide better customer services like loyalty programs, gain insights on customer trends and preferences. The technology also gives customers shopping at mobile businesses – such as craft vendors or those offering goods at farmer’s markets …show more content…
Small businesses: 60% of current Mobile POS installs are in specialty stores and hospitality establishments (IHL group, 2014). Small businesses will benefit the most from mobile POS (MPOS) systems such as Square because of the size convenience, installation and service fee, and is attractive for customers, which will lead to generate more sales.
2. Price sensitive: For Mobile POS users, they will want to decrease their expenses and raise their profit. With the different rates per swipe and offer MPOS providers presents and less expensive device compared to old POS registers that cost approximately $20,000 (Clifford, 2013).
3. Growing business: The MPOS systems can facilitate the report tracking, Payroll and hours, in addition to inventory tracking. Using these tools by small business owners and allow them to control the in and out of their business will facilitate the transition into more location and use the same people friendly system to operate …show more content…
The factors that is driving a change or increasing the interest into the new POS system -- the popularity of handheld smart devices making the MPOS solutions an attractive option and the integration capabilities that makes the business process more convenient and the increase in annual budget. The VSR survey revealed, “More than half of respondents who switched to POS solutions reported having an annual budget of greater than $25,000, compared to 26 percent of respondents the year before” (Intel,
Point-of-sale (POS) systems have been around in one form or the other for decades. The POS system covers all functions done at a business from order processing to inventory management to loyalty programs. It is more than a cash register – a core management tool for any small or large businesses/industry such retails, hospitality, transportation etc. With the right hardware and software programs/downloaded applications, businesses can easily process transactions, improve/track sales and inventory, provide better customer services like loyalty programs, gain insights on customer trends and preferences. The technology also gives customers shopping at mobile businesses – such as craft vendors or those offering goods at farmer’s markets …show more content…
Small businesses: 60% of current Mobile POS installs are in specialty stores and hospitality establishments (IHL group, 2014). Small businesses will benefit the most from mobile POS (MPOS) systems such as Square because of the size convenience, installation and service fee, and is attractive for customers, which will lead to generate more sales.
2. Price sensitive: For Mobile POS users, they will want to decrease their expenses and raise their profit. With the different rates per swipe and offer MPOS providers presents and less expensive device compared to old POS registers that cost approximately $20,000 (Clifford, 2013).
3. Growing business: The MPOS systems can facilitate the report tracking, Payroll and hours, in addition to inventory tracking. Using these tools by small business owners and allow them to control the in and out of their business will facilitate the transition into more location and use the same people friendly system to operate …show more content…
The factors that is driving a change or increasing the interest into the new POS system -- the popularity of handheld smart devices making the MPOS solutions an attractive option and the integration capabilities that makes the business process more convenient and the increase in annual budget. The VSR survey revealed, “More than half of respondents who switched to POS solutions reported having an annual budget of greater than $25,000, compared to 26 percent of respondents the year before” (Intel,