Keeping your retail business up-to-date with new technologies and working methods is essential in today’s competitive market, as those who are unable to adapt to evolution simply end up being displaced by their rivals.

Surely the term POS is familiar to you since you probably have seen it in a store, but when we talk about the EPOS system, we go one step further.

EPOS is an acronym for Electronic Point of Sale system, and it has already become the solution that many retailers were looking for to achieve greater efficiency and profitability.

What is an EPOS ?

Electronic Point of Sale system (EPOS) is a system that helps to effectively manage and track the sales of goods. Its benefits range from tracking sales information to performance optimization for businesses. EPOS software has many capabilities which help it to optimize businesses better than manual POS systems. Not only is it an effective way to record sales of larger volumes, but it can also be easily integrated with online shops and websites. This makes it more effective for keeping stock of sales done via web channels.

EPOS software is made flexible to fit the needs of small and medium-scale business owners. These flexible additions may come in the form of hardware systems that cater to specific business needs like, cash drawers, barcode scanners, monitors, credit card terminals, and even portable devices to ease payments.

How Does EPOS Systems Work?

Every business needs an effective way to manage the in-flow of money from customers without having to physically handle it. Thanks to the advancement of technology, there are now electronic systems that can help businesses manage payment deposits. An EPOS system is one of such advancements.

Advantages of the EPOS system for the retailer

EPOS is very versatile in its uses and provides customization and adaptability.

It offers benefits to first-line personnel, that is, to your sales force, but also to second-line personnel, who are in charge of analyzing and benefiting from the data collected through EPOS. Another important aspect is that the collected data can be stored locally in the retail environment through servers or cloud-based systems.

It greatly helps inventory control, since through EPOS, warehouses are able to react or predict peaks or falls in demand at a given time.

It also contributes to the evaluation of your workers, since it allows you to monitor and keep a complete record of the activities carried out by the store staff, to know who, for what and when the EPOS was used.

One of its greatest benefits is that through EPOS the chances of problems arising are reduced and if any do occur, it allows solutions to be found quickly and precisely.

Customer benefits

The use of the EPOS system will improve the perception of your customers in relation to the store by showing a modern and almost futuristic aesthetic, thanks to the use of advanced technologies.

You will offer the client much faster transactions and with less probability of a problem arising.

Consumers can get quick answers to any question that may arise regarding the availability of an item in stock, getting exact and immediate answers.

Through EPOS, the administration of loyalty programs is improved, which allows increasing customer satisfaction.

Most Reliable EPOS Systems for Small Businesses

EPOS systems work best when they are suited to the functions of the business in question. So, when choosing a system whether free or paid, it is best to pick one that was made for the type of business you are doing. This is largely dependent on the hardware being used as well. Here is a list of some of the best EPOS software.

Lightspeed

For businesses that require constant movement and the need for portable devices like mobile phones or tablets, Lightspeed is a good system. The system is cloud-based which means it can be accessed directly from a range of devices at any place. This makes it effective for restaurants and courier services. It can also be used for online shops and web services to track sales and provide an easy payment method from any location.

Zettle

Zettle is a more direct approach to POS systems, it uses card scanners to make payments easier for customers. These systems are portable and wireless. So, they can be used anywhere within range of a Wifi signal. Unlike manual POS systems that require you to punch in a PIN, Zettle’s card scanners can provide instant payment without the stress of using attendant PINs and passwords. They are effective for the hospitality business. Asides from card scanners, Zettle also offers monitors, cash drawers, and conventional ePOS systems for bars, restaurants, and marts.

Vend

Vend is a cloud-based point of sales system that helps with the smooth running of retail businesses. It offers a system that allows POS data to be accessed by the user anywhere. It can be integrated with different payment methods from monitors and card scanners within a shop, online or uses as a conventional POS system.

Final Words

When choosing an ePOS system, always remember to account for the type of business. The goods or services rendered and also the type of hardware being used by the system is important. They come together to determine the most effective way to get the job done.