What is POS? How Does POS Help to Deliver Business Service?

A POS is a combo of hardware and software used to centralize business operations. Point of Sale System helps delivery businesses to manage sales, employees, inventory, and more. POS for business helps delivery businesses to keep track of everything regularly or quarterly.

 

The POS market size is valued at around 9.26 billion in 2020. The point of sales software is projected to grow by 9.5% of CAGR between 2021 and 2028. The pandemic has negatively affected business sectors including the restaurant and delivery business. It has increased the importance of POS software for delivery vendors.

  

Free delivery is one of the reasons why most customers shop online. Online shopping has become a new trend in today's digital world, with delivery services being an important factor. Most delivery businesses are using point-of-sales software to ease every process. But do you know what POS is? and how it helps delivery brands? and more, if not this article can help you find every answer.

 

What is a POS?

Point of sales is software that is used to process transactions by delivery and other businesses. A traditional cash register is also one type of POS, the traditional method has been replaced by POS terminals that can be used to process debits and credit cards, and cash.

 

The physical device in a checkout point or brick-and-mortar store in a web-based store. The POS software is growing steadily with advanced features that enable delivery brands to track pricing accuracy, collect marketing data, and monitor inventory and buying trends.

 

Different Types of POS You Can Invest In!

Lots of POS software types are available in the market these days. When it comes to investing in POS for business, the primary forms include:

·         Terminal POS software;

·         Tablet and mobile POS software;

·         Self-service Kiosk POS software;

·         Multi-channel software.

 

Different types of POS software enable brands to sell goods across different sales channels. Point of sales software types also includes cloud-based and on-premise software.

 

How Does POS Software Support Your Delivery Business?

A point-of-sales system can be very advantageous for delivery services and helps them to thrive. It streamlines multiple operations by automating the transaction process and tracking all the important sales information. 

 

Electronic cash registers and data collection on a regular basis become possible with this system. Card readers, barcode scanners, and other advanced functionality of POS can help you to boost the overall productivity of your delivery business.

 

Advanced functionality and features of POS software make it easier for you to track pricing accuracy, gross revenue, sales patterns, and inventory changes efficiently. Using POS for business can help brands to catch discrepancies in cash flow and pricing that ultimately leads to interrupted sales. POS software that helps to monitor buying trends and inventory can help brands to element customer service issues. Such software also helps businesses in multiple ways:

 

Use Customers Details for Offering Better Services

POS for business supports the delivery service, and it also helps to get customer information like what is their preferences, where the customer lives, peak hours of online orders, and ask for feedback. Knowing your customers helps you maintain customer service that suits their interests.

 

For example, you might deliver to more people during peak hours to increase customers' number or adjust things based on their feedback. Customer details can help to build loyalty and distribute gift cards whenever required. The personalized shopping experience can be incorporated into the delivery.

 

Complete Delivery Details

With a POS system, delivery brands can easily track everything. Advanced features like automated digital maps, delivery routes, and more make things easier here. This ensures that all the customers don't have to wait for long. This system makes it easier for your drivers to process credit card payments, reduce manual credit card processing charges, etc.

 

POS software supports multi-warehouse and multi-location management. Monitoring stores becomes easier with the delivery anything app. The POS software helps to appoint a suitable store for every delivered order.

 

Bridge the Gap Between Delivery App and POS to Enter the Process

Online ordering and delivery apps have brought significant change during the past few years. For example, cashiers have to manually type orders from the online food ordering app into the POS systems. The disconnection between POS software and delivery apps creates an organizational bottleneck, resulting in inconvenient workflow and mistakes.

 

Today's developed software helps to bridge the gap between POS and delivery apps by automating all the processes. POS also makes it easier for businesses to provide complete details of online and offline delivery records, and management operations, and reduce manual menus.

 

More Benefits of POS for Business: Explore Every Here!

Increase Productivity

Managing all operations through one software will ultimately increase business efficiency. With POS, it becomes easier for your workers to move from task to task with ease, whereas managers will be notified when employees need to be scheduled. This even helps to increase the stores' revenue to match productivity.

 

Professionalism

Customers have a great opinion when they walk into your establishment with an appealing interface and card readers. The appearance and polished demeanor of POS are quantified tough, but help shape the views of your potential customers.

 

Functionality

Every POS software comes with advanced functionality, privacy settings, customizable templates, and more. Choosing the right POS system helps you to create a daily report, auto-generate it to help them meet their needs, etc.

 

Data-Driven Insights

POS software helps to have a report that speaks about the weakness and missed opportunities for your business. Data insight enables managers to execute at different levels beyond their own instincts.

 

Collaboration

Messaging capabilities of POS boost rapid communication, helping cashiers talk with one another, and restaurant kitchens to easily interact with servers. Having proper collaboration and communication can help to avoid costly miscommunication.

 

Marketing Campaigns

POS software helps you build a ready-made email marketing list by collecting email addresses. Sending messages to customers can help you turn one-time customers into regular ones. Not connecting with your customers can make them forget about your business, you can send gift cards, coupons, or other deals to attract more customers and keep them coming back.

 

How to Choose a POS for Business?

You might have basic details about POS, its advantages, and more. Now it's time to choose the best POS for your business that satisfies all your business requirements. List out all the features and functionalities you want in your POS system, once after deciding everything it's time to search for the best company that caters to all your requirements. Ask yourself the following questions before making the decision:

·         Will the POS system be appropriate for your business?

·         Are basic features enough?

·         What payment process can your POS be able to use?

·         Do you need any updated hardware?

·         What POS price is comfortable for you?

 

Don't expect that you can understand the POS system immediately, it becomes essential for you to understand the features to use it efficiently. Find how to use the cash register touchscreen, you can follow the guideline to use the software. Buy or invest in POS that meets all your business requirements.

 

How Much Does a POS Software Cost?

The cost of POS software differs depending on various factors like business size, the payment model you select, hardware and software requirements, etc. Few POS software are free to use, while some can cost you higher. More features, functionality, and additional requirements can cost you higher than you imagine.

 

Remember that the more complex the software is, the more you need to pay. Hence choose POS for business that is simple to use and has features that are a must for your business. If you have a small business you can select POS without the whistles and bells. This can even help you save costs. For more information on how much POS software costs, you can contact us at: sales@whitelabelfox.com.

 

Conclusion

As the world is getting digital, it becomes essential for businesses to automate their business process and online delivery solutions can help you with it. You can even invest in a POS that helps you boost your cash transaction process, help you track it, manage information, and more. If you are looking to give a digital touch to your business, White Label Fox can help you, check our site to know what we offer and how our business solutions help you automate most of your operations.

 

Thumbtack Business Model: How the Thumbtack Works & Make Money?

With changing times, technology has affected every niche of the industry, and the result is now there are numerous services available online, and Thumbtack is one. The home services platform has been introduced in the market with the concept of providing professional services to users in need. Read the article to learn more about the Thumbtack business model, how it works, and makes money.

 

Working on a fresh and innovative concept, Thumbtack holds a great scope in its development and is becoming increasingly popular among the masses, which includes users and professionals also. Being a platform that provides professionals with multiple job opportunities that too, according to their preferred working hours, Thumbtack has surely earned its fan base with the facilities it offers.

 

To aggressively expand the scope, Thumbtack has launched the first-ever home care experience. The platform is designed to create long-term partnerships with homeowners in the care of the biggest asset. The company has provided a number of offerings to people; more than 68% of homeowners who feel confused, stressed, and overwhelmed maintain their homes. This experience helps homeowners know whom to hire, when, and what to do.

 

What is Thumbtack?

Thumbtack is a platform providing skilled personnel a chance to find suitable jobs. Also, the customers wanting to avail the services from the professionals are facilitated to just post their requirements on the platform, and the professional will contact them as soon as they find the work falling under their skill area.

 

Since 2008, Thumbtack has been connecting small businesses and individual professionals with users in need of services and is running excellently. Thumbtack recently announced that it's adding a multinational brands leader to its board.

 

Thumbtack Success Story and Funding History to Have Quick into!

Thumbtack business type: Private

Thumbtack site type: Consumer service

Available in: English

Founded: 2008; 14 years ago

Headquarters: San Francisco, California

Founder(s): Jeremy Tunnell, Jonathan Swanson, Marco Zappacosta, and Sander Daniels

CEO: Marco Zappacosta

Thumbtack Valuation: $3.2 billion.

Type of Services on Thumbtack: 1,100 types of services

Thumbtack Pro Median Annual Income: $61,000

Website: thumbtack.com

 

The American home services company has more than 70 million projects. The company believes in helping customers with their home care. Thumbtack enables users to search for professionals and their service rates. 

 

Customers can hire local service providers to work on different personal projects, including legal services, event planning, home improvement, and other services on their requirements. The company is backed by Tiger Global Management, Capital G, Sequoia Capital, Baillie Gifford, and Javelin Venture Partners, among others.

 

Sneak Peek of Funding History of Thumbtack

In 2010, Thumbtack raised around $1.2 million in funding from angel investors. In 2012, the company raised around $4.5 million through a Series A round. The American home services platform raised about $12.5 million through a Series B round. 

 

In 2014, Thumbtack raised about $30 million through a Series C from Tiger Global Management and Sequoia Capital. In 2014, the company raised from a Series D round led by Google Capital. Thumbtack raised around $125 million, led by Baillie Gifford in 2015.

 

Thumbtack home services platform raised $150 million in Series F at a valuation of nearly $1.7 billion in 2019. The company raised $275 million at a $3.2 billion valuation in 2021. The increasing funding and shifting focus of Thumbtack home services underscore some of the changes we've seen among customers in the last few years.

 

Thumbtack helps people to make a better place to live and keeps them in the best shape overall. This is why it sees an opportunity being a marketplace to search the pros for one-off jobs you might require to be done around the house and offer a “home management” platform to cater to new customer's attention. The services that customers can book include emergency repairs of electrics in the home, gardening, preventative maintenance, and more.

 

Thumbtack helps users to find professionals to help them on different projects. The platform has released its list of the "Most Festival Cities in the US" the list is based on project data they have collected over 2022. The cost of hiring a holiday lighting expert is between $160 to $300, and lights designed for outdoor trees can cost more than $60 depending on the height, type, and shape of the tree.

 

How Much Does Thumbtack Pay?

On average, Thumbtack pays $116,458 a year and $55.99 an hour. In a year, Thumbtack pays the lowest earners $75,000, while the top 10% are paid around $180,000. The salary mainly depends on the department you work in. 

 

 

The average yearly salary of the employees in the business development department is around $149,489, whereas the average salary of the employees in the engineering department earns $131,534. Want to know how geography influences how Thumbtack pays employees located in San Francisco, CA, Redmond, WA, and New York? NY, earn the highest salaries.

 

Thumbtack Business Model: How Thumbtack Works?

An online platform, Thumbtack connects customers with local professionals like house cleaners, yoga instructors, plumbers, etc. It follows a simple model to satisfy all the requirements of both people looking for jobs and those who're ready to provide their professional services. Let's check more on Thumbtack Business Model to find out how it works and provides an amazing service experience.

Customer Segments

The multi-sided Thumbtack business model primarily has two interdependent customer segments:

 

Customers: Those looking for professionals like Gardner, plumbers, etc.

Service Provider: Professionals

who are ready to provide their service to earn extra income

 

Value Proposition

Three main value propositions of Thumbtack are as follows:

·         Accessibility,

·         Convenience,

·         Brand/status.

 

The Thumbtack business model provides quick access to users by connecting them to local service providers. The marketplace platform caters to customers' needs by helping them to find professionals to help them complete their daily chores speedily. Customers get a chance to choose from 1,100 project categories, from home services to gadget repair and more.

 

Thumbtack provides its service in over 50 states. The marketplace has built a strong presence resulting in its success. Thumbtack is the largest marketplace platform for appointing professionals as per users' requirements. It works with more than 500,000 professionals, helping them earn $1 billion a year. It manages 160,000 customer requests per week and 7.1 million customer projects annually, requested by over 5.2 million customers.

 

Channels

The main channels through which the marketplace platform offers its services are the company's website and mobile apps. The marketplace platform uses social media to promote its services, offering, and more.

 

Customer Relationships

The self-service nature of Thumbtack helped the company to build strong relationships. Users can download a mobile app or visit the website to interact with employees. The on-demand marketplace platform offers essential resources like cost estimates, a guide to hiring professionals, and access to FAQs.

 

Key Partners and Key Resources

Thumbtack has formal and strategic partnership programs helping them to advance their interests. The company announced an alliance with WhoDoYou, a social recommendations service. 

 

The collaboration between the two allowed serving an exclusive benefit for WhoDoYou’s customers in 2016. Later in the same year, the company also announced a partnership with Monrovia, an edible plant seller.

 

Key Resources

Employees/professionals are the main resources for Thumbtack to earn. The company relied on funding when it was launched; it raised around $273.2 million from 20+ investors as of now.

 

Cost Structure

Thumbtack follows a cost-driven structure to decrease expenses through low-price value propositions and automation. Marketing expenses and fixed cost mechanism is one of the main drivers for the on-demand marketplace services platform. The major drivers for the service platforms are customer support, product development, administration, etc.

 

How Does Thumbtack Work?

Thumbtacks marketplaces operate by a customer-facing platform. Enter the zip code and select the services from many categories. Users can select the preferred contractors from the services list generated. They can easily filter the search results by pricing, reviews, available dates, and estimated completion times.

 

With contractors' post profiles and customer ratings, users can check the reputation of professionals on site. Customers can visit the platform to communicate with service providers and discuss details of the projects before choosing professionals. The Thumbtack Guarantee program ensures that each user receives the services they want.

 

Thumbtack Revenue Model: How Thumbtack Makes Money?

Single revenue stream Thumbtack revenue model helps a company to make good money. The company charges fees from service providers to generate leads. The marketplace platform doesn't interfere in the transaction; they earn when customers choose to hire the service of a particular provider.

 

Thumbtack promotion makes it easier for service providers to pay an additional amount to promote the listing and profile. The Thumbtack promotion package helps professionals to have better visibility over other listings, helping them increase their business. The lead pricing differs based on many factors. The contributing factors of the service fees generated by Thumbtack include work type, geographic location, competition in the niche, etc.

 

The on-demand service platform enables professional service providers to purchase credit before activating the profile and listing. The approach enables the service provider to plan their working strategy and bid on projects automatically. In 2017, Thumbtack introduced Instant Match Technology with its AI pairing users with providers. Before the innovation, service providers had big manual jobs, resulting in great opportunities.

 

The AI proves to cause lots of professionals, damaging the marketplace service platform's reputation. Thumbtack does not charge costs for the jobs that service providers get from customers. They need to only pay at the initial level quote. The platform cost between $1.50 to $1.42.

 

Service providers can use the platform to enjoy bulk credits. They can invest in about 12 credit packs, costing them $17.99, a pack of 24 credits, which costs $34.99, or a pack of 60 credits for $84.99. Service providers who wish to provide the service through Thumbtack can start with 10 quote packages. Once the service providers send the quotes, they have professionals send ten quotes; they have to choose a credit package to deliver continuous quotes and service on customers' demand.

 

Thumbtack Business Model: Why You Must Follow the Same for Your Business?

Thumbtack business model is really amazing to consider for your marketplace or service business. You can build an app like Thumbtack to give a digital touch to your business. You can follow the Thumbtack business model to ensure your business's success and growth. Just specify your requirements, and White Label Fox can help you with the same. Contact us today at: sales@whitelabelfox.com.