What Is an EPoS System and How Can It Help Your Business
Cash registers are a must for your business because they can help track cash flow and manage transactions effectively. If you are still recording transactions using a push-button till and just a pen and paper, now is the best time to consider using an EPoS system. They can do the essential cash register functions and monitor inventory. However, you may be hesitant to make the change.
Saying goodbye to your old trusty cash register and switching to a more digital system can be daunting, but this can be the key to your commercial success as it helps save time and money, improving your sales process. Learn more about it and how it can help you with sales, inventory, and cash management.
What Is an EPoS System?
The electronic point of sale (EPoS) system is a cloud-based or premise software solution that acts as your till. It can be installed on a wide range of devices. Generally, they are used in the same way as traditional tills, but they are more user-friendly and offer better reporting capabilities and functionality since they use more advanced technology. They allow for flexible integrations, easy updates, increased security, and enhanced reporting. In addition, they let you process transactions, assist customers through checkout, and manage inventory all on one device.
How Does an EPoS System Work?
An EPoS system works like a traditional cash register. What makes it more powerful than the old till system is that it stores your information on the device or database, allowing you to access your essential data anywhere. As it provides you with detailed reports, you can understand your business better and its financial standing at any time.
Furthermore, an EPoS system features POS hardware that can come in many forms. Because of this, you can easily add hardware, like cash drawers, printers, card readers, barcode scanners, and even touchscreen devices. In other words, this system is beneficial for you because it meets the needs of your business as it grows by simply adding more hardware.
What Are the Functions of an EPoS Software?
The world is becoming more digitally driven, and your business has to keep up with the times and your customers’ demands to remain competitive. With an EPoS system, you can efficiently manage your day-to-day operations, process your transactions, and manage your inventory accurately with real-time reports. Here are some of its features and functionality that can make managing your store a lot easier:
Reporting
Your EPoS system provides you with reporting, letting you analyse your business and understand it from a more in-depth perspective. Note that not all EPoS providers offer this, so you must ensure advanced business reports are included in your package.
Inventory management
Inventory management is fundamental in understanding your stock levels and ensuring that your in-demand products are always available. Fortunately, this feature is offered by many EPoS system. Some systems can even manage your inventory online and across multiple stores, which provides you with much greater visibility of your stock availability in real-time and helps you save time.
“Front of house”
EPoS software lets you use an interface for selling products in your brick-and-mortar store through your touch screen device. In short, it acts as a point of sale or “front of house” by allowing you to sell products, do product returns, check items, add customer accounts, stock checks and transfers, and discount products.
Integration
Improving your business processes is convenient with an EPoS system. It can integrate with other software for e-commerce, payments, labelling and accounting. Through these integrations, you save time when managing your business.
Ecommerce
Ecommerce is essential now more than ever because of the global pandemic. It is a huge undertaking, but venturing into this industry is worth all the effort. If you decide to launch an e-commerce site, you can save yourself the hassle associated with inventory management by investing in an EPoS system. This is because it is integrated with your e-commerce, which means you can sync products, sales and inventory records.
What Are the Benefits of Using an EPoS System for My Business?
Now that you know the important functions of an EPoS system, here are some ways your business can benefit from using it:
Enjoy mobility
If you are always on the go, EPoS software can help you keep an eye on your store. You could possibly download it on your tablet and integrate it with hardware, like receipt printers, mobile card readers, and scanners.
Save time
An EPoS system is easy to set up and can get running in just a matter of minutes. As you can sell quicker, you will provide a better shopping experience for your customers. You will also have the option to email or print receipts for them without hassle.
Increase customer loyalty
Customer expectations are different now. As your audience’s idea of quality has changed, you are forced now more than ever to go the extra mile and ensure you meet their needs. One way to do this is to use an EPoS system for your business. It has loyalty solutions and customer management schemes with consumer data and tracking for reporting.
Perform stress-free inventory management
Inventory management offered by an EPoS system lets you check stock levels in real-time. Therefore, you will have more control over your stock levels, monitor wastage, and make sure your bestsellers are always in stock. Best of all, you can even order stock automatically to streamline your stock management process, transfer stock between multiple locations, and manage multiple stores.
Make contactless payments
Contactless payments are not only convenient, but also a trend in consumer purchasing. Contactless is considered necessary due to the coronavirus pandemic. With an EPoS system, you can take traditional cash payments and newer ones, like Apple Pay, Android Pay, and more. All you have to do is combine your software with the latest hardware.
Conclusion
The traditional cash register has somewhat become a thing of the past because of its poor processing power and inflexibility. As your customers’ expectations rise and the market for businesses becomes increasingly competitive, investing in an EPoS system is one of the best ways to give your company an upgrade. Just ensure you choose a reliable supplier so you can have the best EPoS system and reliable support.
Make your operations more efficient and accurate than ever with the best EPoS system in the UK. At Easitill, we have been offering reliable and supported EPoS systems since 1988 across the entire UK. Get in touch with us to learn more about our solutions!
