Restaurant space is full of words that one might not be familiar with, and the restaurant glossary is here to simplify it all for you. It will help you keep up with updated restaurant industry lingo.
What is a cloud POS?
A cloud POS is a web-based point-of-sale system that enables online payment processing without the need for complex and pricey servers or expensive software that requires you to acquire a new version every time you want to upgrade. All payment processing and updates are done online rather than on your local computer using cloud-based point-of-sale systems.
Many companies believe that switching to a cloud POS software entails completely getting rid of their current setup and switching from traditional terminals to tablets and mobile devices which isn’t true.Modern cloud POS systems come with a wide range of choices, making it difficult for business owners to decide which one to pick.
When it comes to restaurants, choosing a versatile POS system is imperative to managing multiple operations and outlets the right way. As technology is evolving, restaurants are shifting towards cloud POS systems from traditional POS systems. Cloud POS systems are more advantageous than the latter and create more opportunities for restaurateurs to streamline operations.
How does a cloud POS work?
Consumers continue to be flooded with a wide range of payment options at retail establishments as payment technology continues to advance at an astounding rate. Without the inconvenience of a traditional cash register, shops can now offer a number of payment platforms quickly and from the same device thanks to the development of some of the top cloud POS systems.
When used in combination with POS hardware, cloud POS software connects to the internet to obtain data from a remote server. To put it another way, the information kept in your POS system can be automatically synced and backed up, making it simpler to secure and update data.
Multiple sales channels can be integrated with the help of cloud solutions, which also provide organizations with the advantages of centralized memory, processing, storage, and bandwidth in addition to improved security.
What are the benefits of a cloud POS?
- Maintenance & Data Security
The maintenance of cloud POS systems is easy. There is no need to manually install the updates. It automatically makes sure that you are always using the latest version of the POS system. There is an additional responsibility of storing the restaurant data safely and the risk of data loss is high in traditional POS systems.
In a cloud POS, the data is stored online which can be accessed from anywhere. If something happens, the data can be easily retrieved from the encrypted servers. Most cloud POS also operate when they are offline. You can enter the data in the POS and it will be updated on the cloud as soon as the system goes online.
Cloud POS is more cost-effective than traditional POS since you don’t need to pay any licensing fees or a hefty installation fee for the system and purchase any hardware. Other than the purchase cost, every time a traditional POS system goes down there are additional maintenance charges as well . This indicates that a Cloud POS system can be set up for a small portion of the price of a conventional system.
However, when buying a cloud POS, you only need to pay the monthly subscription fees. The cost of cloud POS is much lower than that of traditional ones because of the absence of complex hardware and easy installation.
- The Complete Package
A cloud POS system offers end-to-end restaurant management for all restaurant formats. It is equipped with numerous other indispensable features which leave the traditional POS systems far behind. While the old POS is only meant for billing and generating receipts, a cloud POS is a complete package that takes care of inventory, customers, sales, revenue, thefts, etc.
Cloud POS systems are able to integrate with third-party applications for deliveries, payments, etc. Integrating with food aggregators and payment applications can make the whole procedure, from ordering to serving/delivery, seamless for the customer.
With the advancing technology, it is important for restaurateurs to equip their outlets with good management software that not just takes orders, processes bills, and prints receipts, but also looks after every little aspect of the outlet.