Retail point of sale software getting more investments from Canadian businesses
February 22, 2013
Canada's economy was hit hard by the economic recession that took hold of the entire globe, but now the nation's businesses are getting back on track as hiring picks up and consumers increase their spending. This means that many companies are looking to invest more in their operations, whether it is through bringing on additional employees, developing effective marketing campaigns or expanding to new locations. Another aspect that Canadian business owners are looking to put more effort into is technology solutions that enhance a variety of elements. Retail point of sale software is part of this focus, as it helps to improve cash flow as well as accommodate shoppers who pay with either cash, credit or debit cards and even their mobile devices. On top of that, these platforms give merchants the assurance they are following all Canadian retail legislation, reducing the risk of encountering violations and suffering negative consequences.
Increasing optimism is boosting investments
The main driver behind the increased business investments is the rising optimism being felt throughout Canada. According to a study by UPS Canada, three out of five company owners say they expect to see revenue growth this year, more so than they did in 2012. In addition, 57 percent of respondents believe that the nation's economy will grow at least moderately in 2013, as conditions continue to improve.
The research also found that during the last quarter of 2012, business confidence reached its highest level for the year, and 63 percent of companies felt they will experience growth in the coming months. At the beginning of 2012, that figure stood at 45 percent.
"Canadian businesses have certainly been keeping a close eye on the pulse of the economy south of the border and globally. Yet, despite significant uncertainty, it is reassuring to see such a groundswell of optimism in Canadian business circles as we move into 2013," said UPS Canada vice president Nicolas Dorget.
Retail POS getting more attention
This optimism is helping to increase investments in various forms of technology for Canadian businesses, with retail POS at the front of implementation. Retail Info Systems reports that research from TBR found companies are planning to increase their IT budgets by 5 percent this year, as retailers want to focus on adopting POS systems that fit both their needs and those of their customers. There are other factors besides the boost in optimism driving technology use, including more consumer confidence, the prevalence of mobile devices for shopping and the growing importance of ecommerce.