Checkouts are used for many small businesses until you have thousands of things available. Inventory tracking takes all the time you would like to try and perform alternative tasks. However, the cash register as well as the traditional points of sale are no longer efficient. This is where EPOS systems are available. Currently, retailers of all sizes will save time managing their inventory thanks to the seamless synchronization of knowledge between your offline store and your eCommerce website, and between inventory storage and point-of-sale.
Modern businesses are increasingly trying to find ways to avoid wasting money, speed up productivity and increase sales. Every business needs to know what is fastest, best, and most profitable through running their business on a day-to-day basis.
This is where the EPOS system comes in. Its combination of current technology, responsibility as well as the latest pick for top-to-bottom businesses.
What is an EPOS system?
EPOS stands for Electronic Point of Sale System. It is a mixture of EPOS hardware and EPOS software package that enables economical business operation. With a ePOS systems, a store owner will facilitate the method, sales tracking and alternative procedures. He also gets a better understanding of his business performance.
The EPOS system is further connected to an electronic commerce website. Online-to-offline integration provides customers with transparent inventory information and research expertise.
EPOS software
EPOS software is the key to successful retail management. Having the right EPOS software for your business needs is essential. When choosing the easiest corresponding EPOS software, the next step is to choose compatible EPOS hardware. You can also read EPOS Software Reviews for better satisfaction.
Common EPOS software options include, depending on specific business needs:
- Inventory control and monitoring
- Purchase and order process
- Loyalty programs
- Promotions and discounts
- Integration with an e-commerce website
Certain types of businesses may need completely different or additional functions to meet their specific needs. Several suppliers of EPOS systems are aware of this and offer a scalable system adapted to the growth of the business.
How do EPOS systems work?
An EPOS system is a kind of cash register connected to a laptop computer. The EPOS system reads the barcode through a barcode reader and calculates the quantity that the customer has to pay. This provides correct valuation information while providing faster service to customers.
At the same time, EPOS software records sales, updates stock levels and customer knowledge in the supplier backend. Later, the store owner will extract different types of reports anytime. These reports reproduce important business performance and aid in decision making.
EPOS material
Depending on the type of EPOS system you choose, the information entered into the system is either orders in your premises servers or in the cloud. The hardware includes a terminal screen, very similar to a slightly screened laptop monitor. This is often where you enter orders and payment methods. The additional hardware elements that make up an EPOS system are connected via cables or wirelessly. These other hardware items are optional.
Receipt printer
A small printing device using ink or thermal paper produces a customer record of the transaction.
Tablet
Portable hardware used in place of the old EPOS or as an additional mobile device to facilitate business operations.
Barcode reader
It is a detector that reads barcodes allowing you to determine the elements of the product on the EPOS system.
PDQ
A card payment terminal used to electronically transfer funds via chip and PIN code, contactless or Apple / Android Pay.
Cash drawer
A lockable metal drawer used to store money
EPOS advantages
Compared to the standard point of sale, an EPOS system includes different types of benefits, especially in the long term:
For the customers
- Ensure correct evaluation and data of products across multiple sales channels
- Speed up the ordering process and transactions
- Allow customers to use promotions and discounts online and offline
- Provide a smooth and convenient search experience through multiple payment and shipping methods.
For store owners
- Centralize business operations and manage multiple sales channels from one place
- Make higher, lots of correct inventory forecasts
- Keep track of business performance to provide insightful reports
- Reduce time and errors in manual processes
- Activate the correct, instant and simple knowledge update
- Set permission for level employees to reduce theft
Interesting Related Article: “9 Benefits of Using a Barcode for Your Business”