In recent years, the frequency of cyber-attacks has increased across industries at an alarming rate with small and mid-sized businesses being put at a particular risk. The reason for this is because small, family-owned businesses tend to use cheaper security systems than most big companies and usually keep all of their company’s data in one place. For hackers, this can make for an easy target that can be exploited and a potential access point to hundreds of customer profiles and passwords—leaving the company liable for damages if anything goes wrong.

For this reason, the need to decentralize data storage should be a big concern for small and mid-sized business owners, and the best way to do that is through switching to a cloud-based POS. The benefits of cloud-based POS systems will be the topic of focus for this blog, and six reasons to switch to a cloud-based system will be outlined below.

Beginning with reason number one: Improved Security.

Improved Security

As mentioned before, the decision to keep data on-site comes at an enormous risk to business owners, as one breech is all it could take to compromise a company’s system. For hackers, finding a centralized data collection is the equivalent of discovering a person’s life savings hidden under their bed: by keeping everything stored in one place, the store owner also takes on the risk of losing everything from one attack, rather than isolating any damage that could potentially happen.

For this reason, securing data is the key to preventing extensive damage from occurring as the result of a cyber-attack (or any other hardware or software issues that could potentially happen), and the way to do this is by switching to a cloud-based system.

In cloud systems, data is sent off-site to a secure server where it’s immediately copied, encrypted, and made into backups that are then sent off to other secure locations; in addition to this, the data is also protected by two-factor identification, and virus scans and firewalls are also standard features.

As data from RapidScale.com shows, 94% of businesses saw an improvement in security after switching to the cloud, which is no surprise considering the precautions; with this much security, this alone should be reason enough to switch to a cloud-based system.   

12-16-21-ftx-im1-reasons-to-switch-to-cloud-based-pos.png

More Affordable

Another reason why cloud software has become so popular in recent years is because of the savings that can be made from switching to a cloud-based system. In what is known as a software as service model, or “SaaS,” users can connect to a service hosted by a provider over the internet through the use of a company app. With SaaS, users only have to pay once to download the software that will allow them to connect to the service; then, after that, the service becomes pay-as-you go, so costs depend on the amount of time spent using the app. 

With this system, businesses can save money not only by reducing the number of services that need to be purchased and updated regularly, but they can also save money on investing in in-house IT support and infrastructure. Over time, the benefits of using SaaS begin to become more apparent as the money saved from lower maintenance costs begins adding up. Users will find that overall cloud-based SaaS is more affordable and convenient than any traditional (legacy) network system.  

More Accessible Information

Similar to the point made in the last section, another major benefit of using a cloud-based system is that it allows information to become more readily accessible to users. With cloud, users can upload information anywhere and from any device, so long as the device is integrated with the appropriate software.

More specifically, on a cloud-based network, any device that comes with the available software to connect to the cloud server can access the system’s network: meaning, portable devices can also be used to access the system, which can be convenient both for inventory-management purposes and for making regular price and discount changes across stores.

With a cloud-based system, users can have greater access to store information across more devices with real-time updates that allow for uniform price and policy changes that can keep everyone at your company on the same page.

Enhanced Data Tracking

On a cloud-based system, information can be sent instantaneously between devices on the same network, and for businesses, this means that store-level data can be easily tracked and processed in real-time.

As mentioned, any device with the appropriate software can access the cloud’s network, allowing for information to be input at moment’s notice. This can be greatly beneficial when it comes to managing stock records and recording customer information, which can be used for analytics and scan-data reporting.

With cloud, all information that’s entered into the store’s POS system gets recorded and compiled into reports; these reports include necessary information, such as product prices, customer ID data, stock adjustments, discount applications, and anything else that might be worth recording. With this, business owners can gain more accurate data analytics that can be used to guide decision making and improve services.

12-16-21-FTx-IM2-reasons-to-switch-to-cloud-based-pos copy.png

Omnichannel Integration

In addition to being able to send information easily across multiple devices, cloud software can also be useful for integrating multiple channels into one network. In doing this, businesses can centralize all their sales data in one convenient place, making for an efficient, streamlined service that can act as a singular solution.

Through centralizing your system’s data in the cloud, you can easily track and record information across multiple channels, including online and physical sales that take place at your stores. This can be useful both for data gathering and accounting purposes, as it can combine all of your online and in-store sales into one place, while also keeping your product inventory and ecommerce operations constantly updated. All of this can then lead to seamless integration and data management, which can make for better decision making and services overall.

Greater Flexibility

Whether you’re planning to update your hardware infrastructure or preparing for a future worst-case scenario, cloud services are flexible enough to adapt to the changing needs of your growing business. With cloud, businesses can easily scale up to accommodate more users and access convenient features such as improved data storage and seamless omnichannel integration. With benefits such as real-time data updates, quick remote software installation, and improved data storage, cloud services prove to outpace legacy software ten times out of ten, making it the obvious choice for retailers who want to upscale their business.  

12-16-21-FTX-cloud-based-pos.png

Looking to Switch to a Cloud-based System?

When it comes to protecting your data, choosing the right software system for your business is an important decision to make. To be sure you get the most bang for your buck, you’ll want flexible, scalable system that’s cost-effective and can accommodate multiple users across numerous locations; you’ll also want a system that can guarantee protection from hackers and other threats to your system, such as power outages or hardware malfunctions.

Fortunately for readers of this blog, FTx POS can offer just the system for all your cloud-based needs, with our new managed services solution, FTx POS 3.0. With this system, users can enjoy the benefits of added time and money in their wallets, thanks to frequent software updates, a user-friendly interface, and automated data tracking and reporting. Users can also enjoy the benefits of additional protection in the event of any unforeseen hardware malfunction, with offline mode and convenient cloud storage; plus, easy access to reporting and editing software across any device that uses the FTx POS 3.0 app, including mobile.

For more information about FTx POS or any of our other digital solutions, including Warehouse, Adpro, Loyalty, or Digital Signage, please visit our website @ https://www.goftx.com/; and for more tips and updates about the POS and technology industry at large, please follow our blog @ https://www.goftx.com/fastrax-solutions-blog.

Thanks for taking the time to read our blog today. We hope to do business with you in the future!