New technologies are being developed as the days are passing, which not only makes our life more comfortable but also paved ways to new dimensions to study and work. The introduction of Cloud-based Point of Sales (POS) systems has also made the same contribution as many experts are working and researching in making this technology more on-hands, easy to use, and implement.
Cloud-based POS systems have introduced a new standard in the Retail management business. Firstly, when conventional Point of Sales System (POS) was introduced, it was solely used for the encashment and customer engaging purposes, but as the technology progressed, the customer’s demand and supply rose to certain other levels, it made the business personals to think what should be the next possible step in order to cater customer’s need.
This concern of the business community gave rise to the Cloud-based Point of Sales (POS) system. A comprehensive, complete, and well-equipped solution to all your financial problems.
In our previous blog which was about why retailers are choosing a cloud-based pos system for their business and what are the factors involved in this decision, which forces the users to go for the cloud-based pos system. We all know about the wonders of the connectivity cloud-based pos is providing and also the security measures its offering to its customers. There is no doubt in the speed of the system and the analytical preceptive helping the users to make effective decisions for their business.
Cloud-Based POS, IT Industry: Their Interaction & its Advantages
When you hear the word “Point of Sales (POS), “what comes in your mind. Imaginatively, one would think of a big shopping center with a counter/cashing table at one end of the entrance where a properly uniformed guy wearing the brands T’s with a smiling face which helps you in payments of your shopping. What if you want the payment to be made on your term? What if you would pay the point instantly you select something? The answer to your query is the smart, effective & newly Designed Cloud-based Point of sales (POS) system.
The world has seen a timeline regarding the Point of Sales (POS) system’s operations. in the ’70s the bar codes support was observed during the payments. In 80’s we say the payments done on a Graphical Interface, while 90’s we saw the online ordering stuff and in the current modern state we have seen it all. By saying I mean we say online browsing, selection & payment all in one go. This interaction between the IT industry and retail management has given rise to new dimensions to explore & in this article. We will try to reflect on some point which signifies the interaction between the IT industry and Cloud-Based Point of Sales (POS) systems.
The Game Changer in the IT Industry
Enterprise Resource Planning (ERP) & Cloud-Based POS:
Enterprise resource planning is the set of application which accumulates the following companies’ data and provides the summarize reports of the things if they are going to be positive or negative in the long run. How this can be helpful, and what does the Cloud-based POS system would do with it? The answer to this query is straightforward. Since the Software companies designing Cloud-based POS, the ERP solution section has been specified to build applications to tackle the task according to such a database created to deal with dynamic data (i.e., a type of information that circulates or changes periodically).
As working in an environment that is dealing with the creation of Cloud-based applications, you have to take care of such issues. The Cloud-based POS system is running its algorithms with the data it is getting on the cloud. The ERP system formulates the data and gives of reports on priority to the managers/handlers. This report issuing function can be managed on a daily, weekly or even monthly basis, which is upon the handler’s choice. ERP is generally used for getting statistical analysis for setting up an industry or multiplex infrastructure but as the time is changing rapidly, the norms of data analysis will be found amongst the retail management systems as well.
Microsoft Dynamic 365 (Retail) & POS:
Microsoft Dynamics 365 is a customer relationship management software that deals with the sales target assessment, smart business solutions, and easement of understanding of data-driven. Although it also an ERP solution software as mentioned above but Microsoft dynamics has many apps which deal with different parameters, some of the services it offers include Marketing, AI, Business Central, etc. but the most used feature in it which is being used in Cloud-based POS systems is Retail.
Now, here is a question of how does it work in a Cloud-based environment? It’s very simple to understand, when someone purchased anything from you through any mode of payment it gathers around the data of all the customers on a daily basis, makes a flow chart of their data and enlist them according to their shopped items in the list using Priority checkup, through this priority checkup it sends offers and new arrival alerts to those customers using the cloud-based facility. Moreover, the Retail app of Microsoft Dynamic 365 also helps in cash & Drawer Management, Client-telling & its most important feature also includes Stock count and reporting because, in a Retail Business, the flow of cash is so rapid that while collection and
Transferring cash data must be directed towards the given account title as it went to the wrong account, then there is a big chance for the handler to get apprehended without being a victim. He/she may lose their job.
Cloud-Based POS & IT Industry: Integration in Pakistan
Pakistan is the hub of software developers as being the 4th largest Entrepreneurial market of Asia and 13th overall, this country as given rise to some brilliant experts and entrepreneurs but as far as the Cloud-Based POS development & integration is concerned we are a bit lacking behind, our people are a bit reluctant to step foot in an environment which is yet to get explored in this region. People are not familiar with web-based financial architecture designing, although reforms are being introduced to provide a solution to the local community. It still requires a lot of time and effort to be integrated fully in the local market. Although conventional POs systems are being used at large everywhere but sadly, the cloud-based setup is still in some very prominent places.
One of the chief reasons why people in the IT industry are so reluctant upon the development of these systems in Pakistan is because of the least demand ratios. There are very few demands for a cloud-based POS system to be installed, and the operation of these systems are also cannot be operated periodically. If we think about setting up a start-up that would develop a cloud-based setup for easy payment solution and encashment security the starting cost would be huge, and it would be an all in all loss for the developers and the owners as well when there is a less requirement for these type of systems to be deployed.
Entrepreneurs in Pakistan are making their efforts to provide an excellent capable solution to the people in this regard, and the locals are also showing great interest in getting used to such an informative setup, but it will take some time to set up here. With the new regime in power, a lot is expected, and the government is also introducing programs to educate the people about the latest trends in the IT industry, which inevitably includes the interactional study between IT & financial studies.