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What is EPOS Software?
Modern businesses are increasingly looking for ways to save money, speed up productivity and increase sales. Any business or retailer nowadays has to have their finger on the pulse of what is the quickest, best and most cost-effective way to run their business on a day-to-day level.
That’s where the EPOS system comes in. Its combination of up-to-the-minute technology, reliability and efficiency have made it an increasingly popular choice for businesses up and down the country.
EPOS stands for Electronic Point of Sale digital system and is a computerised system used in shops, restaurants and other retail outlets. Essentially it’s an electronic way of letting people pay for goods or services. EPOS systems have a variety of uses such as:
- Helping to improve the way a business performs
- Allows information and stock to be stored securely
- Information can be retrieved immediately as and when needed
- Allows a business to see what products are in demand
- It can print out receipts and vouchers for customers
- It can also be linked to a company website or any terminal within the business
Electronic point of sale systems (EPOS systems) have been used by major retailers for many years and have helped them improve their businesses by tracking everything from inventory cycles to customer loyalty. Many of the same features and benefits of EPOS systems are now available to smaller retailers.
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How Do Epos Work?
EPOS systems comprise of computer hardware, peripherals and software perfectly suited to a point of sales environment. For example, some of the most common components to an EPOS system are touch screens, cash draws, customer displays, scanners and printers
It gives the business owner tremendous flexibility in choosing specific peripherals for their business – ie: in a high demand environment such as a supermarket, an EPOS system can be configured to work in tandem with barcode scanners to ensure price accuracy and allowing the staff to work quickly.
EPOS systems can also be adapted to suit a variety o different working environments to ensure that the system is uniquely suited to a particular business. It can be used for:
- Recording sales
- Updating stock levels
- Providing accurate pricing information
- Enable fast and efficient customer service
- Keeping track of sales and taxes
1. Automatically track inventory
EPOS systems will automatically adjust your inventory figures every time your receive stock, make a sale or process a return. Improve cash flow by purchasing the items your customers want.
2. Instantly see your sales totals
Check sales by any day, employee, customer or item. Schedule your staff efficiently based on hourly sales averages.
3. Improve customer service
See your customer’s history at the time of sale and suggest additional products or services that may be of interest to them. Better EPOS systems have built-in marketing tools that let you easily maintain customer contact.
4. EPOS and E-Commerce
Every retail store needs a e-commerce web site and a integrated EPOS/E-Commerce solution will save you time and money.
5. Process credit and debit cards through EPOS systems
EPOS with integrated credit card processing speeds up transactions and simplifies employee training.
6. Keep an eye on your business from anywhere
More advanced EPOS systems just like that of senkwa let you see what’s going on with sales and inventory from any computer with web access.
What Are The Benefits Of Using An Epos System?
There are a number of long-term benefits to using the system. These include:
- It ensures accurate pricing
- Faster transactions
- Reduces human error
- Improves data integrity
- Prices can be changed easily for special offers
- Provides accurate sales reporting
- Enables constantly updated inventory for accounting, marketing and sales
At a time when companies and businesses are trying to be as cash-savvy and save as much money as they can, it’s also important to consider the long-term cost-saving that using an EPOS system can glean. It can create noticeable savings on employee time and accounting, improve efficiency of stock control, and be the starting point to create a database for customers and their behaviour.
The most important thing about EPOS systems is that they can be tailored to your individual and specific business needs. Along with store purchases, online ordering, telephone sales, catalogues and the like, EPOS ultimately offers benefit after benefit for your company and your customers.