Retail POS systems in desperate need of overhaul

By: Teamwork Retail

Retailers with point-of-sale systems approaching a decade old may need to upgrade to more flexible and functional tools. EKN Research’s 2015 Point-of-Sale Blueprint report indicated the average company’s equipment is 6.9 years old. With such aging solutions, 60 percent of businesses expect to replace their POS suites in the next two years.

In addition to revamping old POS systems, retailers are also planning equipment upgrades to account for omni-channel operations, the adoption of EuroPay, MasterCard and Visa payments, the shift to mobility and the need to support newer purchase methods, the report said.

Mobility and omni-channel retailing in particular have received their fair share of attention recently. Devices such as Apple’s iPad enables businesses to replace old PCs or augment such equipment with more agile tools. Employees can walk around stores freely to help shoppers with their inquiries, whether consumers want details about their loyalty rewards, information about item availability or to make purchases directly through a mobile retail POS.

Companies today must also think larger when supporting audiences. People still enjoy buying items in person at brick-and-mortar locations, while some also  prefer the flexibility of purchasing items through e-commerce websites and their mobile devices. Simply put, brands must have a presence throughout all of these pipelines to maximize sales.

This is where a cloud-based omni-channel POS system comes into play. With all transactional data sent directly to cloud environments, workers can use any Internet-connected device to make informed decisions pertaining to customer offers, inventory accuracy and order fulfillment.

Retailers that have no plans to replace or support their aging POS systems in some capacity will be at a severe disadvantage if their competition is using the latest tools the market has to offer. Businesses looking for the most efficient solutions should consider implementing cloud-based mobile or omni-channel suites.

Blog Categories