Technology is ever-changing, think about the evolution of the iPhone. From 2007 to 2019, Apple has been releasing new iPhones and updates at a steady rate, leaving consumers hungry for more. When was the last time you updated your smartphone? This fast-paced market leaves consumers with an expectation to always have the latest and greatest, so why is the Point of Sale industry so different? Think about your POS solution in your business. When was the last time you upgraded? Statistics show that it probably hasn’t been for about 5 to 10 years. And alas, we found the problem with innovation in the Point of Sale industry.
Point of Sale is changing with the times and we’re here to tell you that exciting innovation in POS technology is spreading to almost every industry. Yes, you need a solution that will last, but you also need innovation that your guests already expect. We’ve mapped out the three key point of sale trends driving innovation in the market today, where does your system stand?
Like we mentioned earlier, consumers are addicted to smartphones. They are looking for simple, convenient and efficient ways to get what they need, whether it’s the news, a taxi, or even money from a friend. If you think of the first cell phone models to hit the market, there were tons of buttons and overly complicated features that excited consumers and made cell phones the hottest item at the time. Now, one of the most popular cell phones today has no button at all, just a screen. So, if simple means innovative, why has the Point of Sale experience been so complicated?
If you’re on the market for a new POS system, you’re evaluating your current processes, or you just want to know the latest POS trends, the first place to analyze is the user experience and interface. Seems obvious right? Well, most companies tend to think of the hardware and profits first and foremost, and leave the user interface on the backburner until guests are upset and orders are wrong. Your guests need simple, they want to be able to either tell a cashier their order and see it for themselves before payment or create the entire order on their own with online ordering or self-service kiosks. Your staff need that simple aspect, as well, but with a little more complexity. The interface should have familiarity, bright colors, bold words, and image-based technology for efficiency and accuracy.
Omnichannel guest ordering is a pivotal component to staying ahead of the technological curve. In POS jargon, we refer to omnichannel as the multiple touch points for payment within an establishment. So, before guests even step foot into your business, they could have already made their orders and processed their payments to get in and out as quickly as possible. Whether it’s with the incorporation of self-service kiosks to provide guests the ability to make orders on their own, handheld POS tablets geared to cut down line wait times, or mobile ordering implementations, giving your guests multiple options will subsequently make their experience more enjoyable all while increasing your bottom line.
With the incorporation of omnichannel orders and payments, cloud solutions are becoming a key player in innovation. The mobility, security, and overall labor-saving potential afforded by cloud technology has made work simpler for businesses of every kind. Cloud-based Point of Sale systems are becoming the new standard in service by improving the process as well as guest experience with no disruption in data migration. Cloud technology provides flexibility for your guests and staff, security and dependability for your entire operation, and will ultimately save you time and money.
The last but certainly not least POS trend driving innovation may not be as appealing as others, but is extremely important for your business and revenue. In the past, POS companies provided solutions that would lack key data and analytics to drive the business. As technology booms, the ability to access that information with heat maps, real-time inventory tracking, hot item information, employee or register stats and more is becoming imperative to maintain a healthy organization. How many times have you gone to your favorite bar or restaurant and they are out of stock of the most popular menu item? With real-time inventory tracking and management that situation is seemingly impossible for the business owner.
Taking a look back at the smartphone example, think about how Apple leveraged their success by tracking data from the consumer. By thoroughly analyzing your business, you not only improve your day-to-day management processes, you also get a glimpse into consumer trends to prepare you for the future and what your guests want most.
Want to learn more about how innovative, modernized point of sale can impact your business? We’d love to show you a live demo of our intuitive product suite! Email us at firstname.lastname@example.org and a representative will be in touch soon.