Retailers need to be smart and agile to stay consistently high in business. But is this possible if the company uses an outdated on-premise IT infrastructure that is difficult to integrate with the latest technology? Fortunately, today you can manage your store from anywhere through a cloud-based POS system.

Cloud computing involves a network of various remote servers to store, process and manage data. The cloud services, in turn, are provided to the user through these remote servers via the Internet – and this kind of arrangement has revolutionized the way we do business.

Although cloud computing is involved in almost every industry, its benefits are most noticeable in the business world. As the technology has evolved and gained traction, companies in various fields have moved their infrastructures to a virtual platform.

With the cloud, retail firms can replace their legacy infrastructures with systems capable of adapting to a regularly changing marketplace. In addition to the major benefits of technology (e.g., the ability to more accurately predict and prevent emergencies, cost-effectiveness), retailers also benefit from the cloud. Below are six clear advantages of cloud services for your business.

1) Improved customer experience
Every retailer wants to meet customer needs: provide them with the best promotions, specials and anything that will become popular with their audience. With a cloud-based retail management system, you’ll have customer information to help you create personalized offers and targeted services.

In addition, an online POS system will also streamline the customer experience. Cloud-based systems provide product information and inventory lists for store clerks. If a consumer requests such information, the retailer will readily provide it.

And one more thing: because the cloud makes many of your processes automated, you have more time to work with customers!

2) Supply Chain Transparency
With cloud-based sales systems, retailers can more clearly track their supply chain. You won’t have to worry about inventory and you can manage your store from anywhere with a cloud-based POS service.

With the cloud, you’ll have up-to-the-minute information on inventory management, documents from your suppliers or carriers, the statuses of your logistics providers and brokers, etc. Supply chain transparency allows the retailer to make informed decisions about their business that can help drive down costs and improve profits.

3) Improved communication within the company
A business cannot function without adequate communication. A retailer experiencing communication problems, both external and internal, can use a cloud-based POS system to bridge the gap. You’ll be able to provide consistent communication between your staff and customers. If a customer has a complaint, your team will deal with it faster.

Cloud-based point of sale systems offer you to manage communication from any device that your staff can connect to to communicate with the customer.

Another benefit of the cloud in terms of improved communication is cross-departmental communication, which technology makes it easy to set up. With access to the cloud, employees and managers can easily collaborate on different business solutions.

4) Useful information about your business
Typically, within a retail business, you work with a lot of data. This data is fragmented between different IT systems (in the absence of a cloud system), making it difficult to access and examine.

With the cloud, you can not only keep your data in one place, but you can easily get the information you need from it. This will allow you to see how your business is doing overall, where you are missing something, and what exactly you need to add to become successful in your endeavors.

5) Reliability and Security
Retailers are often concerned about the security of their data as well as the reliability of the cloud services they choose.

Today’s cloud-based POS systems are more reliable and provide 24/7 availability. In addition, you get help if a problem arises: the provider ensures that they will quickly resolve any problem you encounter.

6) Creating new products
As mentioned earlier, cloud systems help businesses perform data analysis. With this analysis, retailers can recognize customer preferences and market trends that allow them to create new products that are most in demand with customers.

Plus, specific development and maintenance tools can be available from the cloud so that companies don’t have to buy equipment for the production phase.