Welcome to another interview by Website Planet. Bringing you insights on how the best companies are solving the current challenges in their industry, and how they are planning ahead for the future.
Our guest today is Michael Chalberg, Vice President of Marketing at KORONA POS. Developed by Combase USA, KORONA POS is a leading cloud point of sale software serving the retail and ticketing industries in over 10,000 locations across the U.S. and Canada.
We analyzed what is making so many retailers struggle with their POS solutions, how KORONA POS helps in fixing them, and what emerging trends are going to reshape online retail.
What unique challenges are people in your industry facing right now?
Most retailers struggle with their point of sale solution. An inability to adapt to a changing retail landscape, antiquated on-premise legacy software, unreliable customer support, and a lack of contractual and pricing transparency have all contributed to a general distrust and unease within the POS space.Some common concerns with POS (point of sale) systems:
Insecure Systems: POS systems can be vulnerable to cyberattacks due to multiple points of vulnerability, such as POS terminals, credit card terminals, internet links, and POS endpoints lacking proper encryption.
Risky POS Vendors: still too many POS vendors do not use secure remote access systems or comply with regulations, putting their clients at risk
Choosing the Wrong POS can be difficult: Selecting a POS system that does not align with the specific needs of your business can lead to problems like exceeding transaction limits, inadequate inventory tracking, and unexpected costs.
Installation & Support: Problems related to installation issues, connectivity, and compatibility can cause POS downtime, especially in larger multi-location systems. Insufficient staff training is also a reason.
Hidden Costs: Beyond the initial setup, there can be hidden costs associated with POS issues like service interruptions, leading to lost sales and customer goodwill. These costs are often underestimated by businesses.
These concerns highlight the importance of selecting a secure, suitable, and well-supported POS system to avoid potential issues that can impact business operations, security, and customer satisfaction. Software that is so integral to business operations must inspire more confidence among its users. And finding the right solution can transform the operations of any business.
How effective are the current methods for solving these issues?
Merchants expect a one-size-fits-all model for their POS and all software tangential to it. No software solution can provide this.
Point of sale providers are working on more advanced features and integrations to bring merchants a more consolidated suite of operational solutions. Still, there will be continual challenges in providing an all-in-one solution with highly functioning integrations that provide a seamless user experience.
What’s a better way in your opinion to fix these issues?
KORONA POS offers several ways of solving these issues.
First, a cloud-based solution means that software features and integrations are regularly developed and updated. Merchants subscribing to POS software-as-a-service will always have the most up-to-date solution. Additionally, we are constantly expanding partnerships with other industry specialists to provide users with seamless integrations.
No solution can do it all, so it’s important for POS providers to lean on more niche specialists in the industry.
KORONA POS offers a wide range of features to help retail businesses streamline operations and improve efficiency. Some key features include:
Customizable employee permissions at the POS terminal and in KORONA Studio
Ability to restrict access to specific parts of KORONA Studio for individual employees
Cashiers can clock in and out, with time summaries for payroll
Ability to customize the customer display at the POS terminal
Display items being rung up, total, videos, images, company logo, and more
Can be used for marketing purposes to encourage additional purchases
Advanced inventory tracking and management tools
Automated reordering and stock notifications
Real-time analytics and reporting across multiple locations
ABC inventory grading and detailed sales reporting
View individual locations or all stores simultaneously
Ideal for businesses with stores on both coasts or in different countries
Lastly, KORONA POS offers all users an open API. This means that any merchant can create custom development for new features, integrations, or functionality.
Looking ahead 5 to 10 years, what new technologies and trends will have the most significant impact on the issues we talked about?
There are several trends and developments with the point of sale industry that are shaping up to alleviate some of the pain points that many merchants complain of.
First, more seamless integrations across software providers will only continue to become more widespread and accessible. Software is being developed with better structure, there are more developers than ever before, and many solutions can safely and effectively offer an open API. All of this means that merchants will be able to have a suite of operational software at their fingertips more readily and more affordably.
There are also a slew of new POS software solutions available to retailers. It’s no longer just a few major players. Instead, merchants can choose from a wide variety of options, putting pressure on existing solutions to provide a better infrastructure and customer support.
Lastly, more providers are offering more pricing transparency and flexibility. For decades, merchants have had to deal with long-term contracts, hidden fees, cancellation penalties, and unfair credit card processing rates. This has started to change—modern solutions recognize the value of fostering long-term relationships with their customers and prioritize providing better service.
What should people do to stay up to date and adapt to these changes? What will you do in this regard?
Your average merchant is likely in need of making a change to a new POS solution. The problem is making such a change is a daunting task. While there’s never an ideal time to make such a major operational switch, it’s always better to do it sooner rather than later.
If a merchant feels unhappy in any regard with their current solution, it’s best to start shopping around for a better option. Most modern solutions offer product demos, free trials, and data imports to give merchants more confidence before making a switch. There is also a plethora of software review sites that vet valid user reviews.
Overal, merchants should focus on being open to adopting new technology as it emerges. Whether it’s focusing on local SEO, selling on third-party marketplaces, developing a modern eCommerce store, using RFID tech, growing a stronger loyalty program, or any of the many emerging ways that merchants can improve their businesses, the most important thing is to stay informed and willing to adopt technology that is on the cutting edge of things.
Bethenny eats, sleeps, and breathes digital marketing. She helps clients take charge of brand awareness and create lead generation strategies via a number of marketing channels, including email, social media, SEO, and content. When not a marketing superwoman, you can find her playing with her three dogs on her five-acre property, or planting yummy treats in her vegetable garden. (She is also a bit of a Real Housewives junky, #guiltypleasure!)
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