In case you are wondering what in the world an “mPOS” system is, the concept is rather simple. Most businesses have point-of-sale, or POS, systems where the digital cash registers are linked to a massive software program that automates things like accounting and managing inventory. Mobile POS systems are just like that, except they are portable. Instead of cash registers, mPOS hardware includes a tablet or a smartphone and a card reader.
Now, don’t confuse mPOS with mobile payments, which refer to online payments made through mobile phones. Mobile POS systems are kind of neat in that they allow businesses to take the cash register to the customers. Not all customers want to pay online all the time. Who pays online when ordering Chinese takeout? Exactly.
MPOS systems are immensely useful for small businesses that do deliveries. But, some owners are slow to adopt this tech because they think buying the hardware, the credit card terminal plus software, is as expensive as installing a new POS system in the store. Actually, the reverse is true—mPOS systems save companies money. Here are the reasons why that is:
Eliminate All Expenses for Paper Bookkeeping
Small businesses that make hand-to-hand transactions, especially in cash, need to keep all records on paper as per government regulation. With mPOS system, all the paper stuff can be eliminated. The business will still keep records, but digitally in the mPOS system! There will be no need to spend money on buying paper. Also, employees can definitely save time filling out all those pesky forms.
Competitive Benefits Outweigh the Hardware Investment
Having a mPOS system can make even the most insignificant brick-and-mortar business highly competitive. Think about it; everyone buys stuff online. But, some stuff, especially perishable goods like pizza, is still delivered by local business outlets. These outlets can directly compete with online giants like Amazon by offering customers a convenient way to order and also pay. Besides, the hardware for mPOS systems isn’t that expensive anyway. Companies like SumUp even offer mPOS card reader devices without flat rate fees. Deals like that only make businesses thrive.
Simplify Inventory Management
Mobile POS systems largely simplify day-to-day activities of small businesses. In particular, companies can expect to fast-track annoying tasks like keeping track of inventory when so many deliveries are being made. Saved time also means saved resources. Employees can use their time more efficiently when a mPOS system is present.
Calculate Labor Costs More Effectively
Is your business paying the delivery guy to stop by the c-store when he is supposed to be directly en route to the store? Mobile POS systems not only track inventory, these systems can also track where the employees are. In other words, businesses can find out if employees are wasting time and money being where they are not supposed to be. A monitoring system like this can make the workplace culture less wasteful and more efficient, saving tons of cash.
It may not be obvious at first, but mobile POS systems are truly excellent money savers. If you run a small business of any sort, then don’t hesitate to invest in a great mPOS system.
