EPOS, the Electronic Point of Sale, is the fastest and most efficient way of completing transactions in the retail or service environment. By and large, EPOS is a generic term covering everything from touchscreen tills to contactless card readers, though a full EPOS system will have all of these components working together in a single cohesive unit. The benefits of this system are equally wide, and despite the initial investment being a little steep at times, the speed at which the system pays for itself is well worth the move.
The most obvious benefit to using EPOS at your business is the new speed and efficiency your staff will see when completing transactions. Rather than having to wait for a slow and outdated computer governing how fast you can open your cash drawer, the complete integration and interconnectivity within a proper EPOS system allows for sales to be completed quicker than ever. This doesn’t just mean more transactions per hour, it means an improved customer experience which in turn leads to your customers coming back in the future. As far as your sales staff are concerned, EPOS makes their job completely watertight.
As a manager, having all of your transactions in a single easy to use system has a multitude of benefits. First and foremost, using an EPOS system increases your financial accuracy, negating the need for your staff to carry out calculations and removing the chances of your staff over or undercharging your customers. Likewise, by tracking which member of staff carried out which transaction, your EPOS system gives you accountability over your sales. This isn’t just helpful should cash go missing at the end of the day, it also allows you to track which members of staff produce the greatest sales figures and which members of staff constantly require you to come and void transactions, slowing down the entire sales process.
Your EPOS system doesn’t just keep track these metrics, however. One of the biggest benefits to using an EPOS system is that your EPOS can track everything you need to know to run your business on a day to day basis. Stock management, for example, can be completely monitored and tracked through your EPOS system, automatically updating your stocklist with each purchase and letting you know when you need to buy more stock in. This can save a huge amount of time when compared to traditional stocktaking methods which require a full team working nightshift at the warehouse. On top of this, your EPOS will show you quite clearly which items are flying off the shelves and which ones take a long time to shift, helping you with the full stock management process.