QuickBooks POS is a top-rated software used by many retail owners. It includes a comprehensive feature set that helps in day-to-day retail operations. You can accurately track customer information, monitor stock levels, and more.
However, retail outlets have found a new way to use their QuickBooks POS. Instead of using it locally, they prefer to host it on the cloud. With QuickBooks POS cloud hosting, you get round-the-clock access from any device and better data security.
Let’s look at the benefits of QuickBooks POS cloud hosting in detail.
Table of Contents
Benefits Of QuickBooks POS Cloud Hosting for Your Retail Outlet
1. Crowd Management
Some days, your store might get too busy! With conventional QuickBooks POS, you can ring in sales only at a few designated outlets. This means a long queue in the checkout lane. Eventually, your customers might get irritated. They may not visit your store next time.
However, with QuickBooks POS cloud hosting, your employees can make transactions anywhere in the store. They can use any device, such as a tablet or smartphone, with an internet connection. You can then reduce your customers’ waiting time and do faster checkouts.
2. Inventory Synchronization
Managing inventory is one of the biggest challenges while running a retail outlet. You have to balance out the quantity and availability carefully. Without it, you may incur high holding costs or run out of stock at a crucial time.
Things get further complicated while managing multiple stores. The data from a local POS is not updated automatically. You must wait until your employees have synchronized their data. But with QuickBooks POS cloud hosting, all the transactions are updated in real-time over the cloud server. When an item leaves your store, it automatically reflects in your inventory levels. This way, you can easily monitor stock availability in a single store or across multiple stores.
3. Data Security
Data security is an essential part of running a retail outlet. While checking out, your customers provide sensitive details such as their name, address, phone number, payment details, etc. This sensitive financial information can be misused and exploited without proper data security. However, top security measures are not readily available with a local QuickBooks POS solution. They require considerable time, expertise, and investment.
With QuickBooks POS cloud hosting, the cloud providers offer multiple security features. Your data is thoroughly protected using advanced data encryption, a modern IDP system, anti-malware, and the latest antivirus. Physically, you have round-the-clock CCTV surveillance, armed guards, and biometric-limited personnel access at the data centers.
4. Disaster Recovery
Cyberattacks are not the only threat to endanger your data. An unprecedented store accident or natural calamity are equally threatening. Without fail-safe measures, you can permanently lose access to your data and incur tremendous losses.
A local QuickBooks POS works on a local data backup. Everything is stored locally. This makes your data more susceptible to such incidents.
However, a reputed hosting provider maintains multiple data centers simultaneously with QuickBooks POS cloud hosting. They back up your data in each of them regularly. This way, they can provide continuous access. Even if one data center gets damaged, you can easily retrieve your data from another data center by contacting your cloud provider.
5. Data Analytics
Retail giants regularly use predictive cloud technologies to monitor inventory levels and improve sales performance. However, this is not easily achievable with a local QuickBooks POS as end-user devices use local storage. This makes it an uphill task to collect data from each device and compile it together. Also, even if you do, you won’t be able to get data insights in real-time.
But everything changes with QuickBooks POS cloud hosting. It has an inherently centralized database. You can easily employ cloud-based data analytics and monitor your sales performance in real-time. This way, you can identify sales trends, monitor buying behavior, or analyze an item’s performance to improve your sales.
6. Financial Benefits
QuickBooks POS cloud hosting has numerous direct and indirect cost benefits. With flexible POS points, your customers don’t have to experience longer wait times. This is desirable for any retail outlet as it automatically attracts higher customer footfall.
You don’t have to face compliance issues or pay security liabilities due to cyber-attacks. Everything is secured using stringent security measures.
One of the most significant economic benefits of QuickBooks POS cloud hosting is optimum stock maintenance. With data analytics, you can easily maintain the needed item level. You don’t have to worry about overstocking or understocking items. This way, you can avoid high holding costs or dead stocks that impact your capital generation.
QuickBooks POS on Cloud – A Win-Win for Customers and Retailers
The benefits of QuickBooks POS cloud hosting clearly means minimum wait time for the customers and less hassle for the retailers. It works wonders when you manage multiple stores as all the data is stored in a central database. Also, the direct and indirect cost benefits mean proper cash flow within the retail outlet and optimized inventory levels.
Want to know how QuickBooks Cloud POS can benefit your business? Get in touch with our Solutions Consultant by clicking the chat button below.