Why Integrated POS Systems Are A Must
By Francesca Nicasio May 11, 2021
With the magic of an integrated POS system, level up your customer loyalty and sales.
Running a retail or e-commerce store without an integrated Point of Sale (POS) system is virtually unthinkable today. While the POS terminal market in the US is set to reach $22.56 billion by 2025, the global POS software market is expected to reach $42.5 billion by 2027.
However, despite the popularity of standard POS systems, they do have their limitations. Here’s where an integrated POS system comes in. In its simplest form, an integrated POS system is a platform which connects all purchase-sales with your other business apps so they can exchange data seamlessly between themselves.
Integrated POS systems offer several advantages over non-integrated ones. For example:
| Integrated POS systems | Non-integrated POS systems |
|---|---|
| Payment processor speaks to POS | Payment processor does not speak to POS |
| POS automatically syncs payment amount to terminal thus reducing the scope of human error | Payment amount needs to be manually entered on the terminal thus increasing the chances of human error |
| Transactions are automatically marked as “paid” | Transactions must be manually marked as “paid” |
| Fewer steps in the checkout process | More steps in the checkout process |
| Logs customer information and other useful data for marketing/promotion | Only logs that a sale happened and a card was used to pay for it |
| Provides a better customer experience and reduces the risk of fraud | Provides a less than optimal customer experience and increases the risk of fraud |
| Does not require extra spend on external card processing devices | Requires extra spend on external card processing devices |
| Saves time and improves efficiency through automation | Manual intervention takes more time and is less efficient |
How a fully integrated POS system can help your business
POS integrations can help you manage and improve all areas of your business. From automated product inventory checks and receiving multiple payment types, to storing customer shopping preferences and even managing your receipt paper output, helping your business to go green.
These are just some of the tasks that an integrated POS system handles to streamline your operations. Each task can help to improve on overall customer experience and ultimately, build customer loyalty. This frees up your team’s mental load to offer the highest standards of customer service, everyday.
Beyond improving the checkout process, an integrated POS system can give you valuable insights into the behavior and purchase patterns of your customers. You can leverage such data on the shop or café floor, but it can also be shared with internal UX analysts, brand marketers, and pricing teams to help inform marketing campaigns and increase profitability.
Let’s dig a little deeper into the benefits of integrated POS systems.Prioritise business sales with a POS for faster payments
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Easy POS integration
Besides e-commerce and payment processor integration, integrated POS systems can seamlessly connect with other third-party apps including marketing automation software, accounting software, loyalty management systems, etc.
Improved efficiency
Integrated merchant services including integrated credit card processing eliminates the need for manual entry during checkout. This not only saves time but also reduces the probability of human errors. What’s more, integrated card processing makes your end-of-day reconciliation much easier.
Better security
POS e-commerce integration ensures that your customers don’t need to be redirected to an external landing page to provide their payment information. In addition, payment processor integration adds some extra layers of security that minimizes the risk of online fraud.
Improved cashflow and insights
Integrated credit/debit card processing ensures that you can process payments in real-time. There are no delays on account of manual entry and no delays in fund transfers to your account (when the volume of transactions is high), meaning you can likely take more sales in a day too.
Also, integrating your POS with your accounting software can give you access to valuable data and insights. With QuickBooks POS integration, for example, you can view your sales and financial data in one place so you can make better business decisions.
Using integrated POS data to build customer loyalty
One of the biggest benefits of integrated POS systems is that they facilitate exceptional customer experiences that boost loyalty. By integrating your CRM and/or marketing automation software with your POS system, you can get access to valuable insights into the preferences and behavior of your customers.
For example, you could keep track of the products they buy most often or the ones they’ve added to their wishlist and send them personalized product recommendations. In a retail setting, your staff can use such information to make relevant suggestions suited to their interests.
You can also leverage the data you have to create loyalty programs and targeted marketing campaigns. Personalized offers, recommendations, reminders and rewards can go a long way in encouraging your customers to make repeat purchases, boosting loyalty and retention.
Besides all of this, an integrated POS system also helps you keep track of your best-selling products so you can manage your inventory efficiently. This can prevent your customers’ favorite items from going out of stock and keep them happy.
Final thoughts
The purpose of an integrated POS system is to ensure uninterrupted communication between your POS and other third-party platforms, used daily business. When done right, a full POS integration can help you improve operational efficiency and provide exceptional customer experiences that keep them coming back.
It can also give you visibility into sales, marketing, and financial data all in one place that helps you with better decision-making. Follow the tips mentioned above to leverage your integrated POS and take your business to newer heights.