What is ePOS and How Can it Benefit Your Business?
An ePOS system or Electronic Point of Sale is a computerised system that aid businesses in various sectors such as retail, hospitality, restaurants, and much more. It essentially makes it easier to record the transaction when a customer makes a payment. But that isn’t all.
An ePOS system is more than just an electronic cash register. It has a lot more features that enable a business to run efficiently on a daily basis. No matter if it is a small, mid-size or large scale business, ePOS helps in a lot of ways. MPOS or Mobile Point of Sale is another form of POS, that allow you to make transactions on a smartphone, iPad/tablet or any wireless device.
EPOS systems are made up of a combination of hardware, accessories, and software, all working together at a point of sale. The accessories to an ePOS system consist of printers, keyboards, display screens, bar code scanners, chip and pin payment system, touch screen monitors, cash drawers, and so on.
Basically, these accessories enable the efficiency of an ePOS system. The business owner can choose from a combination of these accessories based on their business needs.
Now that you know what ePOS is, if you would like to get up to 4 free quotes for ePOS Systems, just fill in the form. Our sales team will provide you with ePOS solutions from qualified suppliers in the UK.This service is free of charge and without any further obligations.
Benefits of ePOS Systems
Every business needs to have a record of all the sales transactions. ePOS systems accurately facilitate this process, which in turn, contributes the business’ efficiency.
For example, in a retail grocery store, hundreds or thousands of transactions may occur in a single day. Recording those transactions can be quite a task, if done manually. This is where ePOS systems save the day by having all the transactions recorded as they take place.
EPOS systems come with multiple advantages, one of them being better inventory management. This makes it a lot easier to monitor your business’ current stock levels, so you know what to order and how often. All of this information helps to save a lot of time for the businesses by streamlining stock keeping tasks.
ePOS Helps In Analysing Demand
Every business wants to know which of their products and services are the best selling, and which are not. Understanding the demand of your different products can help make sure you will never run out of stock.
Additionally, having information about slow selling products can help you decide whether to keep them or get rid of them.
Enabling Selling Processes
Having an integrated chip and pin payment system enables quick transactions for card payments. In a restaurant, orders can be placed using a tablet, from which, the information goes directly to the kitchen and cash register. The manager can oversee the entire process, as well.
EPOS systems enable the entire selling process to run more smoothly. In movie theatres, having a touchscreen terminal helps customers order their snacks and drinks themselves, and then collect them later when they pay, thereby cutting down how much time the customers spends waiting in queue.
Customer Service Management
Customer satisfaction is extremely important because it determines whether the customer will return to the store or never come back again. Let’s be honest, customers are too busy to wait in long queues. So, what can ePOS do for customer service?
EPOS systems help save a lot of time by speeding up the payment process and eliminating wait time for customers. They also issue receipts and make a record of them. Moveover, ePOS till software makes it easier for businesses to accept multiple payment methods so customers have a pleasant shopping experience.
ePOS System Saves Time
Recording sales transactions, keeping track of inventory and taking orders can all be performed manually, but using an ePOS system can save a lot of time while performing these tasks. In a world where time is money, businesses cannot afford to make waste.
An ePOS system can work wonders for saving time and making the best use of manpower. As well, staff can focus on more crucial tasks while the ePOS system takes care of the rest. Businesses save a lot of time, make customers and employees happier, and drive profitability up.
Provides Price Details
ePOS systems provide price information to both buyers and sellers. We see this on a daily basis in supermarkets, where an individual scans the barcode of the product and gets the pricing details in an instant. This helps the customer with their purchasing decision, and enables faster transactions at the point of sale.
Reduces Human Errors
Human errors are natural. That is why recording transactions electronically is more accurate for businesses. Although, you cannot entirely depend upon the ePOS software, it can definitely reduce the amount of manual errors, thus, increasing the effectiveness of sales transactions and customer service.
ePOS Tracks Customer Buying Behaviour
Customers are the reason why businesses grow. Understanding customer behaviour is essential to serving them better and gaining their loyalty. An ePOS system tracks the buying patterns of a customer every time they make a purchase.
ePOS systems can help in understanding how many returning customers and new customers a store has. This in turn helps a business run different promotional activities to attract new customers and hold on to them.
Employee Satisfaction and Productivity
Happy employees are often productive employees. With an ePOS system, employees can report stock information, answer queries coming from customers and give them a better shopping experience. It also helps optimise their time and effort by minimising tasks that can be done electronically so they can give all of their attention on serving the customer.
Buying an ePOS System
Now that you have a solid idea on what an ePOS system is, it is time to to narrow in on what ePOS system is the most suitable for your business needs. As mentioned earlier, ePOS systems are comprised of hardware, software, and peripherals. Of course, the ePOS system price varies in a significant way, and we know that choosing among the given options can be a tedious task.
First, you have to determine the list of tasks that you want your ePOS system to perform. Keep in mind, the sophistication and features of the ePOS system will influence the cost.
Cost is a major factor that affects the purchase decision for business owners. The cost of ePOS systems will, of course, vary according to the quality of the system and its accessories. You can choose to rent, or lease or buy when getting your own ePOS system. . Renting or leasing might be more viable options if buying your own ePOS system is not financially doable.
Keep in mind to choose buy from a company that has good technical support and maintenance, so that your ePOS system will remain up-to-date and running smoothly.
Let Market-Inspector make the research process easier for you. Fill in the form on the top of this page and you will receive 4 tailor-made quotes from qualified suppliers in the UK, enabling you to make the right purchase decision. It only takes a minute, and what’s more, it’s free and there is no obligation to buy.