16 February 2016

NextGenPOS to Cash registers are what PCs were to Typewriters

One could say that NextGenPOS in the form of a tablet on a counter is just replacing “low-tech” cash registers with affordable mobile devices. But that would not do it justice because NextGenPOS gives small and medium sized merchants (SMEs) enterprise-grade functionality. So in many ways, NextGenPOS acts more like an affordable version of PC-POS but with a sleek and modernised user experience.

  • NextGenPOS gives SMEs enterprise-grade functionality 

In addition to functioning as an affordable PC-POS for SMEs, NextGenPOS doesn’t have the constraints of the PC-era and has been designed specifically for mobile devices. For example, instead of software licenses and costly installation procedures, NextGenPOS providers typically offer SaaS models with its flexibility, affordability and distribution through iTunes and Google Play (sorry Mr on-site POS technician, computer automation just ate your job). Then almost all NextGenPOS systems also leverage the cloud for heavy work, back-end functionality and data storage.

  • Similar to typewriters turning into PCs, NextGenPOS is a giant leap from cash registers 

NextGenPOS is fundamentally an evolution at the point of sale. Before cash registers, there were cash drawers and abacuses. Then, cash registers were invented and they proliferated the industry. As retailers expanded and required more data, the larger ones could afford to pay for advanced PC-based systems (PC-POS) but most SMEs could not meet such an expense. Now with NextGenPOS, the SMEs can suddenly afford to get enterprise-grade functionally to help them run their business.

Eventually all SMEs will replace their cash registers with NextGenPOS and be able to utilise data to improve their management of stock, customer retention and revenue. That might take a decade to happen. Although, after NextGenPOS proliferation, some other system will inevitably be brought in to disrupt the industry. Such is the evolution of POS.

About the author

Davíð Guðjónsson

I grew up with computers (Sinclair Spectrum, Commodore64 and Amiga) but only got my first mobile phone and internet access once I was at the University of Iceland (1996). From that moment the path was clear and I co-founded an internet company in '97 building one of world's first CMS's (sold in '99, good timing!). Then co-founded a "smartphone" company in 1999 that built handheld software and mobile POS solutions for airlines (PalmOS, WinCE), pioneered mobile POS with chip&PIN payments for UK retailers and built Handpoint to power Next Generation POS.

#NextGenPos, #MobilePOS, #MobilePayments, #EMV (Chip&PIN), #NFC, #Public Speaking, Entrepreneurship, Leadership, Motivation, Getting things done

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