4 Business Crises & How To Avoid Them With A POS
Businesses are vulnerable to a number of consequential situations. From power outages to theft and data breaches, your business could be at risk of critical loss or even irreparable damage.
The good news is this doesn’t have to be the case. You can keep your doors open and your business running smoothly with tools designed to navigate through unplanned business crises. With a Revel Point of Sale, you have the peace of mind that the owner, management, and staff all have the knowledge and tools necessary to identify issues on the spot and remediate.
We’ve identified potential crises and how to avoid critical loss with a POS:
Without the necessary precautions, your bottom line can be seriously impacted by a power outage or loss of network connectivity. In today’s environment, there is so much dependent on the health of your network. Even a loss of power for 30 minutes can substantially set your business back in sales. In the case of a loss of power, or merely a slow connection, Revel has two ways to keep your business running, no matter the case:
1. With Revel’s Always On Mode you have peace of mind that your business will be running, even if the wifi isn’t. Utilising a hybrid network architecture, Revel’s Always On Mode offers the support and reliability of a local network, with the convenience of the cloud. Rather than turn away customers, you can continue accepting credit cards and other forms of payment to make sure you never miss a sale.
2. RevelGuard is an active monitoring tool, overseeing the status of your network and any connected hardware, gathering local data from the network and reporting it to the your Management Console. With a detailed snapshot of your store’s issues, our Support team can quickly diagnose and resolve any issues. As an additional layer of support, RevelGuard also gives Revel Support staff the ability to remotely and securely access the POS Network. You’ll no longer have to wait for an onsite technician or the results of several troubleshooting tests. Within minutes our Support team can diagnose connection issues and remotely resolve them through the RevelGuard portal.
The security of your business should be your biggest concern and first priority. The damages of an unsafe system can be staggering, Security Magazine reported that the average cost of recovery from SMB data breaches is $36,000 and can even lead to a loss of up to $50,000. When you’re moving mountains of data in a high-velocity environment, there are a number of vulnerabilities that can expose themselves.
With Revel, your business can be immune to malware. Architected for security, Revel sends encrypted card data from the Swipe device direct to the payment card gateway (Point-to-Point Encryption), keeping all card data out of the cloud or POS. As an extra layer of security, Revel’s PCI-compliant cloud technology ensure the highest level of security to protect your customers’ data and uphold your reputation.
Consistently running out of inventory at peak times can seriously impact your bottom line and your customers’ experience. With real-time reporting and low-stock alerts that notify you when inventory is starting to trend low, you can keep your stock levels at their ideal at all times. When quantity falls below the par level you will get automatically notified, and the quantity required to return product to par will automatically be added to the reorder at the quantity required to return the product to par.
The platform can even generate purchase orders for you, and with Revel you can perform bulk inventory updates through the Management Console.
According to the Small Business Chron, shoplifting is the second leading cause of inventory loss for retailers behind employee theft, substantiating the need for both internal and external theft prevention. You can monitor internal theft through your POS. Revel has partnered with DTT to track employee behaviour and synchronise video and data into the POS to to help you catch inconsistencies and red flags with confidence.
With loss prevention features, predictive technology, and up-to-second reporting every employee can use Revel’s POS to navigate through these crises. There’s no price tag on the peace of mind that follows as a result.