Mobile POS industry poised for steady growth

By: Teamwork Retail

Traditional point-of-sale systems have given way to mobile POS solutions that offer similar functionality to older equipment but with even more operational flexibility. A TechNavio report suggested the global industry for mobile POS will expand at a compound annual growth rate of roughly 10 percent between 2014 and 2019.

The research firm explained these tools include various functions, including smart card support, Voice-over-Internet-Protocol, Wi-Fi and radio frequency identification capabilities. The report added mobile POS suites are versatile systems that act as data devices.

“In addition, they are used for sending digitized notes, checking prices, writing reports, sending and receiving invoices, capturing signatures and managing assets at retail stores. The above mentioned functions can be used to exchange data within a store or other out-of-store locations through wireless applications,” TechNavio said.

Companies still relying on older POS solutions for daily operations cannot facilitate real-time data accessibility like they can with retail mobile POS software integrated with cloud computing. The cloud is available through the Internet, so employees equipped with PCs, tablets and even smartphones can view critical data pertaining to customer purchases, inventory availability and consumer rewards.

Mobile POS solutions are also ideal for replacing or augmenting traditional checkout systems. One of the issues with purchasing goods is that consumers are sometimes forced to wait in lines at one end of the store. This is fine on some days when the location is not busy, but during holidays and special promotions, it can be frustrating for people.

Implementing iPads around the store that connect to mobile POS software enable retailers to minimize these normally heavy traffic areas to allow for more flexible checkout options. What’s more, when consumers complete their orders, the data is instantly stored in the cloud where the entire brand can access this content.

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