More organizations are looking at their POS systems in a new way. The ever evolving technology landscape has sped up the decline of traditional systems and increased the need to upgrade to a new solution that embraces the latest in technological innovation.
Recently, Vertical Systems Reseller released its third annual "State of the POS Market Study 2014." The research looked at the point of sale market across numerous industries and asked the question, why upgrade? The answers to this were numerous, but hit on a number of core payment processing challenges and trends.
Topping the list, cited by 53 percent of the respondents, is PCI compliance. This is a challenge that businesses never fully conquered because PCI regulations are always changing. Keeping customer and payment information secure is something that every business needs to worry about, and the latest POS solutions are better equipped to meet PCI requirements than traditional cash registers.
Coming in second is mobile devices (49 percent). The idea of a tablet POS system is something that was unheard of a decade ago, but is now something that can been seen in businesses of all sizes.
Other reasons cited in the report include enabling new payment options like the e-wallet (23 percent), tighter eCommerce integration (22 percent), building a robust POS platform (18 percent) and providing associates with better tools (11 percent).
Every business is doing itself a disservice if it is not examining its current POS solution. There are a number of benefits that companies have yielded by upgrading their systems.