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8 Benefits of Using a Cloud-Based Platform for Your Pawn Shop
At this point, everyone has heard about “the cloud.” It has become a popular buzzword amongst businesses AND consumers… But what is “the cloud,” and why should you care?
In short, the cloud is a data management system that allows you to remotely store/access data about your business, online accounts, transaction history, etc. The cloud has proven itself to be a safe and secure way to utilize data while offering the ability to access it anywhere!
COVID 19 has taken a toll on various businesses, which ignited the massive push for learning how to work remotely. It was almost an overnight shift from working in the office to working from home. Luckily, the cloud has been in the works for numerous years, and we are finding new and improved ways to utilize it for remote working.
You may be wondering:
“What can the cloud do for my pawn shop?”
Cloud-based platforms offer numerous benefits/solutions that can be combined to provide the complete tech “stack” to support all the business functions needed for your pawn shop. Now it is easier than ever to manage employees, operations, and shop projects remotely.
Keep in mind that a cloud-based platform is best used as an assistant for your daily operations and works in conjunction with your usual routine. Resources in the cloud can be easily stored, retrieved, recovered, or processed with just a couple of clicks—so you can get back to running your pawn shop.
Here are a few of the most beneficial advantages of a cloud-based pawn platform and how they can assist you in running your pawnshop.
Quickly Scale Your Pawn Business
Scaling your business is one of the biggest hurdles for any industry. Every business owner wants manageable growth along with happy customers. With a cloud-based pawn platform, you have everything at your fingertips.
In some cases, overwhelming growth can hinder the success of your pawn shop. When business demands increase, you are left with a bigger workload and may not have the ability to keep up. When you leverage a cloud-based platform, you have an overarching view of all of your operations and data in one place. This allows you to reallocate resources and attribute the best workflow for each situation.
Imagine being able to tackle twice the amount of customers with the same staff and still have time to manage the business on the back end. THAT is the power of a cloud-based pawn platform!
Secure Important Data in a Safe Location
As we mentioned, having your data in one central location is a huge benefit of working within the cloud. But you may be wondering, “how safe is the cloud?”
“To date, there have been very few security breaches in the public cloud – most breaches continue to involve on-premises [infrastructure] environments.”
– Gartner, Top 10 Cloud Myths
Data in the cloud is likely more secure than that in the average company’s data centers. That is because:
- The data is encrypted
- There are security frameworks in place to ensure its safety
- Cloud providers undergo a series of compliance requirements and regulations
- Your data is backed up and recoverable
- And more!
The cloud offers many advanced security features that guarantee that your data is securely stored and handled.
Introduce Mobile Management
In a world where everyone relies on mobile, we are all starting to get used to doing things through a mobile platform. With a cloud-based platform, you can have all of your corporate data in the palm of your hand!
You have the ability to keep your staff on the same page with business initiatives and reduce communication issues. The cloud allows everyone to stay in the loop and prioritize their tasks. Additionally, you can use this feature to keep instantly up-to-date with clients and coworkers that are not in the office.
Reduce Cost While Improving Efficiency
As a business owner, you know that cost and efficiency go hand-in-hand. Normally, a business requires sizable investments in hardware, facilities, utilities, or building out a large data center to grow your business. With a cloud-based platform, you can maintain a smaller set-up and reduce costs on data storage.
A common issue we find with pawnbrokers is that they are scared to make the transition because they are not “I.T. people” or “tech gurus.”
When you use the Bravo Pawn Platform, you can feel at ease that our team will handle the difficulties of I.T. implementation and will be managing your cloud data operations. It is as easy as scheduling a demo to find out how we can help put your pawn shop on the map!
Fix Downtime Issues
Another reason pawnbrokers are reluctant to shift to a cloud-based platform is the worry of experiencing outages or downtime. This is a common misconception about cloud systems.
The fact is: Downtime is extremely rare when working with a cloud-based system.
Because of the growing importance of the cloud, it’s critical that buyers have visibility into the reliability number for the cloud providers. Which is why we publish our uptime: Click here to see our uptime stats!
At Bravo, we are known for having a better downtime ratio than Google! You can feel safe that your platform will be up-and-running without complications.
Again, the idea of hiring a new employee to run a cloud-based platform is daunting. You may not see the value of the platform, are not excited about starting a new process, or simply do not want to learn a new piece of technology. The easy solution is: Don’t hire anyone?!
Our tech team at Bravo will ensure that your platform is upgraded and up-to-date. We make sure you never want to pull your hair out. Instead, you can feel comfortable that your data is in the right hands.
Updating and using the platform is as simple as turning on the POS system. Every time there is an update, you will have an automatic push for the update, and it will remotely upgrade to the best version.
Reduce the Risk of Losing Data
Losing data can be detrimental to a business. This can happen for various reasons, including:
- Broken computers/devices
- Lost backups
- Fumbling with paper files
- Lack of file organization
Storing your data in the cloud guarantees that data is always available, even if your equipment like laptops or PCs, is damaged. Cloud-based services provide quick data recovery for all kinds of emergency scenarios—from natural disasters to power outages.
The cloud offers control over sensitive data for any company. Data can have immense implications if it falls into the wrong hands or an untrained employee. Most security concerns come from employees leaving docs around with sensitive info, emailing sensitive info through unsecured programs.
By leveraging a cloud-based platform, you can monitor the activity of your employees AND decide which users have what level of access to what data.
At the end of the day, you want to protect your data. Reap the benefits of a cloud-based platform and find out how simple it is to manage. Contact our team today to find out how we can alleviate the common pains that come with running pawnshops so you can focus on other important aspects of your business.
If you are still apprehensive about switching to a cloud-based platform—be sure to read “6 Reasons Pawnbrokers Should Embrace SaaS and Cloud-Based Platforms Without Fear” or reach out to one of our team members for a personal free demo.
About the Author:
Before taking the reins as CEO, Tally served as Bravo’s Vice President of Business Development, leading the company’s sales and marketing organization. She’s been instrumental in leading and executing many of the company’s strategic shifts, including the acquisition of CompuPawn and the recent launch of UsedGuns.com.
Tally earned her Doctorate of Law (J.D.) from DePaul University College of Law in 2013 after attending the University of Colorado at Boulder, where she earned her B.A. in Communication Studies. She also completed the Key Executives Program from Harvard Business School in 2013.
Tally is a pawnshop lover and eCommerce enthusiast—dedicated to the success of both her employees and customers!