Unlike legacy systems, which run using an internal system and store data on a hard drive, cloud-based retail POS system works with an external server provided by a separate company.

All of your business information is stored on that dedicated server. Any device can be used to access the data, provided it has the relevant access permission. With legacy POS systems, this is not the case.

As such, cloud-based retail POS systems are far more flexible. Below, we explore the four key ways that cloud-based retail POS system can enhance your retail or hospitality business.

Collaboration

Using a single server for all your operations strengthens the lines of communication within your business and enables staff members to work together more efficiently.

Whenever an update is made on the system—a transaction, item request or order arrival—it is instantly viewable across all POS devices.

Whether you’re in retail or hospitality, greater efficiency means better customer experience and bigger profits.

Accessibility

One key strength of cloud-based retail POS systems is that they can be accessed in any place and at any time, provided you have an internet connection.

Much of the latest cloud-based POS software is equipped with mobile compatibility. This means that staff can access the internal system on their personal devices rather than dedicated POS hardware, therefore facilitating out-of-office collaboration.

Customers can benefit from mobile compatibility too. In the hospitality sector, web-based integrations now allow consumers to pay for orders directly from their smartphones. Interactive uses of cloud POS like this is a great way to offer your customers unique experiences.

Security

Cloud-based retail POS offers a greater layer of protection than legacy systems. In the event of a power outage, theft or fire, your data is always retrievable through the cloud.

Because all data is stored internally on traditional POS hardware, losing or damaging the hard drive spells big trouble for your business. With cloud-based POS, you can rest assured knowing that key information is backed up on the server and accessible from different devices.

Some business owners may worry about the threat of hacking that comes with cloud-based POS. However, most cloud POS providers use advanced data encryption with their servers to guard against this possibility.

Support

With cloud-based retail POS systems, your business enters a subscription service with the software company hosting the server. Whilst this entails regular expenses, it does give you the benefit of readily available support.

Technicians are always on hand to resolve any problems you may encounter. Because cloud-based systems are hosted on an external server, technical issues can be fixed remotely and at a faster rate than traditional POS hardware.

In addition, your business has access to updates and upgrades made by cloud POS providers as they continually tweak their systems.