India is one of the emerging super-powers in the global economy. In 2018, India is expected to grow at the fastest rate, compared to other economies, at a rate of 7.8 percent. Every business that is selling a product or service, no matter how big or small is contributing to this growth. Economic productivity, also known as GDP (Gross Domestic Product) is measured by the market value of the total number of goods or services a country produces. One of the major contributors to this expected growth is Small Medium Enterprise (SME) sector. There are about 51 million small and medium businesses that contribute approximately 45 percent to India’s GDP.
To maximize profits, productivity, and people, small businesses need to have a point of sale (POS) system. Modern POS systems have revolutionized the way businesses operate in India. Moreover, like other emerging markets, India is also in the middle of a digital revolution. After demonetization, it is no surprise that the number of POS machines in the country saw an exponential increase. According to the RBI, after the digitizing of the country’s economy, the number of POS machines had reached to 3.03 million in December 2017. To meet the growing demands of a population of 1.3 billion, the number of POS terminals is definitely in shortage. Therefore, by using POS machines, small businesses can definitely help bridge this gap.
For small businesses or businesses that are just starting up, technology solutions should have a low upfront cost that helps to drive business. They should lead to higher performances and save of resources, and most importantly should guarantee the best in-store experience for the customer. Let’s look at some machines that will do just that.
POS and mPOS Machines
Even if businesses have space constraints, this doesn’t mean they can’t expect their POS terminal to be powerful. Today’s modern POS and mPOS solutions are compact, powerful, versatile and aesthetically pleasing too! Check out Posiflex’s compact all-in-one integrated POS solutions which are cost-effective and can deliver results pretty much instantly. If mobility is your priority, then the machines from Posiflex’s MT series are for you. These ergonomically designed mPOS solutions are ideal for the retail and hospitality sector, that ensure the best in-store user experience for their customers. Moreover, mPOS machines have are ultra compact, yet have the same functionalities as a fixed terminal POS.
POS peripherals are like the side-kick your POS terminal needs. Whether it’s a thermal printer, a bar-code scanner, electronic cash machines, or a touch-screen monitor; they will all add more value to your business. The Posiflex peripherals have no upfront payment and have a minimum cost of ownership. Therefore, they are an affordable fit for any size and type of business.
As the world becomes more digital, it is imperative that businesses keep up with the consumer’s expectations. Therefore, investing in modern POS systems is the need of the hour. These smart machines not only manage daily transactions but are also capable of data analytics which can help the business flourish. POS, mPOS and their peripherals will improve efficiency, making them an integral part of the daily business operations.