If you think credit and debit cards are about to displace cash for retail transactions, think again. Legal tender accounts for as much as 40 percent of transactions overall and up to two-thirds of purchases under $10. So while plastic and electronic payments often have been pegged as the currency of the future, the oft-predicted cashless society is nowhere in sight.
As a new, lighter point of sale (POS) approach emerges, POS solutions no longer require PCs to operate. Depending on a system’s configuration, the new POS model can leverage thin clients such as tablets, handhelds, and IP-enabled cash drawers to bring flexibility and convenience to in-store transactions.
Selling point of sale (POS) solutions to retail and hospitality clients via an as-a-Service model may seem counterintuitive, particularly to VARs that have traditionally relied on the profit margins generated by hardware and software sales. But as technological advances accelerate and product life cycles shrink, this emerging business model comes close to being a true “win-win” for everyone involved.
Benefits include low initial costs, recurring revenue streams, and future-proofing against fast-changing technologies.
Even in an age where oceans of information are available online, well-designed, comprehensive technology training is still a valuable commodity. In fact, for many VARs, using what they learn from a technology vendor can create a significant competitive advantage.
How much value can a VAR add by taking advantage of a vendor’s technology training program? One point of sale vendor believes the benefits of education are well worth the investment.
In the retail and hospitality verticals, where both POS hardware and software are threatening to become bargain-priced commodities, many VARs are seeking greater “stickiness” by creating an integrated stack of technology and service offerings tailored for individual customers’ business requirements.
Flexibility and a diverse product/services stack create the “stickiness” VARs seek.
Now that point of sale (POS) solutions no longer have to depend on PCs to operate, businesses have a wide range of options to set up their systems. Retailers, restaurateurs and hospitality operators can take advantage of standalone IP- enabled components to choose whatever configuration best suits their business objectives and customer needs.
The need for PC-centric POS solutions is waning as a more flexible model emerges. Leveraging cloud and mobile technologies, this model supports thin client and IP-enabled components such as cash drawers and printers.
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