The mobile payments segment is getting very crowded, and it looks like everyone wants a piece of the market. Google (News - Alert), Amazon, Facebook, Walmart and Samsung (News - Alert) are just a few of the many companies that are looking to establish themselves in what many see as the future of payment as cash continues to be used less and less by each successive generation. One company that has made a mark in this sector is Square by simplifying commerce and allowing buyers and sellers to come together without the complexity currently existing in the payment industry. The company has been continuously adding new services to improve its platform, and Square Analytics, a tool for merchants that ties into its products, is its latest offering.
The concept that Square has introduced is to make resources available for large enterprises and even small businesses. With this platform, the data that is already being collected and the Square device provides real-time updates on different metrics regarding the business operation. This includes products that are selling well, the best time sales are taking place, number of customers being served and more insights that can be used to improve each segment.
By tying in Inventory, Invoices, and the recently launched Appointments, Square Analytics can deliver to a provided email account, summaries of data with spreadsheets of all the information captured by the tools. In addition it can be integrated with the merchants accounting software system connected to services like Quickbooks or Xero.
Making this solution available to small businesses enables them to see what is working and where it is they need to improve in order to stay in business and continue their growth. Individuals can run their company in real-time without having to wait for end-of-day reports by accessing Square Analytics to find out what is taking place.
Edited by Stefania Viscusi
Back to Mobile Commerce Insider Home