Nowadays, there are so many POS solution providers out there that retailers are feeling dizzy and confused while deciding on a POS system that is suitable for their businesses. And if you, as business owners and operators, find yourself stuck in such an uncomfortable case, we’re here to help. For your information, one of the features that determine whether it’s a meaningful POS (point-of-sale) system or not is real-time synchronization.
So, what is real-time synchronization in POS? How to correctly understand the term? In today’s article, we together will find the answer that we are most contented with.
What is a POS system?
A POS is where a purchase happens between a buyer and a seller, while the central link that connects every element of a POS together is called a POS system. It is a software that can run on desktops, smartphones, tablets, and other devices. The system helps clerks process the transactions. More than that, this software can compute almost every business activity, such as inventory management, staff management, cash management, etc.
What is real-time synchronization in POS? How to correctly understand the term?
All outstanding POS systems can connect and sync data on a real-time basis. If you’re a new seller, you might have a question like “What is a real-time synchronization in POS?”. At its core, real-time synchronization means that the data of all transactions from all channels (both online and offline) are synced together and gathered on a central POS system.
The term real-time basically means that software can perform live business functions. For instance, a customer buys a product in a physical store. As soon as the salesman scans the product’s barcodes, the transaction gets updated to a POS system. The product stock level is immediately deducted in the warehouse assigned to that store. The available amount of that product is also changed accordingly. This happens at the time the sale occurs. Everything is happening live through the POS system.
Why do you need to sync data on a real-time basis?
A retail business can have more than one selling channel as it can operate both online platforms and brick-and-mortar stores, it can even sell on the phone. Furthermore, a retailer can also have multiple warehouses. Managing such multiple touchpoints smoothly is a challenging task for even an experienced business owner. That’s why in order to ensure an omnichannel experience, a POS system with the real-time synchronization feature is critical.
Particularly, retailers and traders can use a POS system that connects with a private cloud. These cloud-based POS systems perform daily complex and simple business processes for a retailer. Such systems allow business owners and operators to monitor and manage their business anywhere, anytime, on any device. The POS system that syncs on a real-time basis can be run on different devices at the same time. These devices include tablets, smartphones, Android devices, desktops, iPhones, and iPads. In a store, many employees can use a POS system at different locations because of this. This helps a store to process many purchases at the same time.
Real-time synchronization integrated in POS features
Real-time synchronization in inventory management
A POS system that connects in real-time can detect the shortcomings of inventories. The POS system can check how many products need updating. A seller needs to know about the products that are trending. These products sell quickly because of their popularity among buyers.
Therefore, the warehouses can run out of their stock. A POS system that connects with a cloud working on a real-time basis can manage this. It notifies the buyers, the sellers, and the suppliers for the orders to take place. The POS system is also capable of placing shipment orders for inventories. A POS system is able to perform these functions because it connects the warehouses with the online stores.
Real-time synchronization in the e-commerce function
A good POS system like ConnectPOS includes useful features for an e-commerce business. It connects all of the products located at different locations using a real-time platform. This helps in processing orders quickly. The POS system tracks orders, purchases, and remaining stocks. The buyers can use a variety of payment methods via the POS system. It allows online businesses to notify their customers of the deliveries made. The POS system also notifies the confirmation and returns of the sales performed.
Real-time synchronization in reporting
The benefit of a POS system that synchronizes on a real-time basis is able to collect business data. This data includes store selling products. It can collect information about the top buyers and the top sellers. It can record product trends and seasonal sales. There are many business activities that it can record and keep safe using cloud services.
An online store processes many sales through a POS system connecting on a real-time basis. The POS system uses real-time channels to record all of these transactions. It can present all types of business reports for a seller whenever he wants. The POS system uses all the collected information to display accurate results. This helps a business to evaluate its sales and customers. A POS system can also forecast future online business activities. It can generate financial reports. A good POS system can even forecast seasonal sales and costs.
Wrap it up,
What is real-time synchronization in POS? How to correctly understand the term? We hope that as we walked through this article, you have found yourself the answer that satisfies you. And if you are now wondering which POS system with such a useful real-time synchronization feature to trust, let us introduce you one!
ConnectPOS, one of the best cloud-based POS software for omnichannel retailers, won’t disappoint you with its handy, meaningful, and well-functioning real-time synchronization feature. With ConnectPOS, you, as business owners and operators, can manage your multi-warehouse inventory, operate multiple stores, expand your e-commerce offerings, and get in-depth and comprehensive reports on a real-time basis.