Technology strategies to complement your business plan

February 16, 2022

Improving your business technology strategy begins with assessing what you currently have. A modern point of sale (POS) offers options for everything from software inventory tools to contactless payment. 

 

Chances are, you may be working with outdated tills that don’t offer more advanced features that you could be benefiting from. In addition, “bare-bones” solutions offer minimal security, with data being subject to loss if the hardware is damaged.

A modern point of sale (POS), however, offers options for everything from software inventory tools to contactless payment. This makes for a more convenient experience for your customers and a seamless management tool for your staff and managers. Here are the points businesses need to assess when revitalizing their technology strategy:

  • Mobile options
  • Specialized industry features
  • Data and analytics
     

Now that you know what you have, it’s time to think about what you need. Different industries are going to have different needs, however, which makes this a difficult question to answer. In the restaurant industry for example, staff might benefit from a POS that offers:

  • Digital table mapping to ensure order accuracy
  • POS access to customer-facing kiosks and menus
  • Contactless payment options, including the ability to split bills or add discounts.
     

Foundational to any of these features individually is customization options. You never know when your technology strategy is going to need to make a pivot; if that does happen, the last thing you will want to think about is switching to a new POS system. Instead, try to look for a system that incorporates several of these features together into a single, user-friendly interface.

 

Data analytics point you forward


In addition to customization, the other feature every industry needs to have is a strong data analytics program. Traditionally, this work had to be done through intense manual calculation that took up time and energy. Modern POS solutions, however, do the heavy lifting for you. Perks of POS-based data analytic features include:

  • Customer purchase histories allow you to offer loyalty programs, discounts and specials.
  • Software inventory tools like ingredient tracking, par-level calculations and menu costing
  • Automation tools for discounts, inventory and even automatic reordering when stock gets too low
     

When discussing a technology strategy for your business, data analytics points your way forward. Without the information it provides, answering basic questions like, “What is performing well/poorly?” or, “What should I consider replacing?” becomes remarkably time-consuming. POS solutions free your hands, allowing you to focus on providing your customers with the best possible experience.

 

Cloud-based and mobile technologies put strategy at your fingertips


Leveraging the flexibility of the cloud offers a broader range of options to execute your business plan to stimulate growth. Cloud-based POS technology also opens up other exciting options that will improve the appeal of your brand.

The cloud allows you to:

  • Access all of the software inventory tools and data analytics from any device
  • Generate accurate, near real-time reporting to monitor tasks
  • Heighten the security of your most valuable asset
     

Advanced predictive data analysis on your data changes how you look at things like inventory. Similarly, using cloud-generated reports can provide you with insights into the exact behaviors of customers and staff. This will present you with the perfect foundation from which to develop an ideal set of inventory controls — powerful tools to strategize concise action to build a better customer experience.

 

In the age of software, inventory tools and POS features enhance your business strategy


While effective on its own, introducing software inventory tools into your technology infrastructure is incomplete without seamless POS integration. Data efficiency alongside powerful cloud-based POS software can shift the inventory management piece of your business from liability to asset. Understanding these moving pieces will be difficult on your own, making it important to seek expert advice before moving forward.

 

Partnering with talech to address inventory management gives you a valued POS partner that goes beyond the technology. We use our business experience to develop software inventory solutions that make integrating your inventory easy. Contact us anytime about setting up a free demo.

 

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