WHAT IS EPOS?

  What is EPOS?

Few acronyms should make more sense to any retailer or shopkeeper than "EPOS". As the final point of contact between the business and the customer, the point of sale is where revenue is ultimately made and collected. But in a day and age where business has gone digital and connected, an electronic point of sale is worth more than the sum of its (many) parts, and comes with added benefits compared to the payment counters of yore, which has led many of their users to brand them "intelligent points of sale".

 

What is EPOS?

 

What is EPOS ? Basics

As far as commerce is concerned, definitions of EPOS may slightly vary.

 

 

 

1) Common definition

Although many unrelated concepts and organizations share this acronym, it should be clear in the business sphere that EPOS stands for Electronic Point of Sale.

 

The most common definition, which will be used in the rest of this guide, refers to a computerized, connected, self-contained point of sale with all the necessary equipment to process purchased items, retrieve their respective prices, accept various payment methods and coupons, compute and issue a legitimate invoice.

 

 

 

2) Alternate definitions

Some industry publications may restrict the definition in various ways.

 

EPOS can therefore refer to :

 

• A fully-automatic, customer-operated point of sale which does not require the intervention of a checkout assistant;

 

• A purely virtual point of sale used on an e-commerce website;

 

What is hospitality EPOS systems? Components

A full hospitality EPOS systemsuk does consist of several pieces of equipment.

 

 

 

1) Item processing

In order to retrieve and display the price of the purchased item, an EPOS needs

 

• A barcode scanner,

 

• A terminal, which is basically a small PC with touch or non-touch enabled display,

 

• A scale.

 

 

 

2) Item payment

• Payment terminal or PDQ terminal,

 

• Swipe card reader,

 

• Cash drawer,

 

• Receipt printer.

 

 

 

Most importantly, an EPOS will not work without dedicated, industry-specific EPOS software.

 

 

 

What is EPOS ? Benefits

EPOS is not only the physical place where goods are paid for, and payment collected. As a connected system, it allows for many benefits compared to traditional checkout counters.

 

 

 

1) Stock Management

Companies and shopkeepers need to make sure they are operating with the minimum amount of stock, and at the same time ensure products are available and delivered to the customer quickly.

 

At each checkout, the EPOS will coordinate the inventory data, removing the purchased item from stock records, and triggering appropriate replenishment alerts when needed. Also, because the system is connected with the pricing database, it will always be up-to-date and fewer pricing errors will be deplored. With an EPOS, business owners can look forward to less stock and higher profits.

 

 

 

2) Reporting

EPOS can be seen as a permanent tool for real-time retail audit, as it offers loads of data related to stocks, but also turnover, profits, and other financial information. Such readily available, always up-to-date information allows for advanced predictive modelling.

 

 

 

3) CRM

Connected with the company's CRM, an EPOS may include personalized customer experience, as it can handle coupon or loyalty card redemption, specific customer data collection and management (like the printing of personalized invoices with specific coupons).

 

 

 

4) Industry-specific developments

Finally, the fact that an EPOS needs EPOS software to operate, means that several programs can be fine-tuned to best adapt it to specific industry needs. EPOS will differ, whether they are prepared to be used as retail EPOS systems, or café, restaurant EPOS.

Till systems for Cafes and Coffee Shops

 

Libby James is co-founder, director and an expert in all things merchant services. Libby is the go-to specialist for business with more complex requirements or businesses that are struggling to find a provider that will accept them. Libby is regularly cited in trade, national and international media.

 

EPOS Systems for Coffee Shops and Cafes

Finding a point of sale system for a café or coffee shop doesn’t have to be difficult. Our experts have trawled the market, and we realise that when it comes to cafes there isn’t a one size fits all solution.

 

EPOS Systems forCoffee Shops vary from business to business, and depending on the size of the shop and how you run there are lots of options available when it comes to EPOS.

 

Smaller café owners tend to opt for a simple solution, for example if you are simply selling coffee and not food or additional goods – there is no need for extensive menu options. Equally if you are selling food but operate from a smaller premises, you may not need the kitchen printer facility. TIP – if you are an independent, smaller business do not be up-sold on your café POS system, over complicating things can be unnecessary and costly!

 

Larger coffee shops with additional branches, or smaller shops looking to expand may wish to secure POS software for café which has additional features, aiding sales, stock control, back office and payroll to name but a few. For more information on more complex systems click here.

 

QUOTE HERE

 

How to find the correct EPOS system for your coffee shop

At Merchant Advice Service we specialise in ensuring you get the best from your café POS software and system. Our advisors can discuss your business needs now and in the future, making sure you make the correct choice when it comes to cafe point of sale. Speak to us today.

 

IMPORTANT NOTE: DO NOT BE SOLD MERCHANT SERVICES WHILE PURCHASING COFFEE SHOP POS SYSTEMS! Normally in coffee shops or cafes the transactions tend to be high volume and low size, it’s important you find the right merchant provider to cater for these needs.

EPOS systems for retail shops

 

Electronic Point of sale (EPOS) systems for retail stores have developed significantly in recent years, and are now sophisticated enough to do more than simply process customer payments. Understanding the new technological features involved in retail POS can help businesses find the best point of sale system for to suit its needs which will, in turn, help increase profit margins, efficiency and accuracy with stock control.

 

At Merchant Advice Service, we specialise in finding EPOS systems to suit a variety of retail business needs. We work closely with business owners and managers to find the right solution based on your immediate and long-term business plan to ensure you have the best deal possible. Whether you are searching for a more complex retail POS system for a big business or want to know what’s the best POS system for a small retail business our experts are at hand to give expert advice so you can make the right decision.

 

The Merchant Advice Service team has experience in EPOS implementation across the following retail businesses:

 

Shops and boutiques

Selecting retail software that suits the way your business operates now as well as how you forecast its growth is crucial to selecting the right deal. The right retail point of sale software will largely depend on the footfall to your store, the percentage of these visits that then convert to a sale and the value of the sales. Large chains and franchises should also consider using retail EPOS software to streamline internal communication, manage stock levels across multiple stores and also plan staff timetables. Smaller shops or boutique looking to implement a retail EPOS system should consider iPad system as this may provide many of the same advantages as a complete solution without the hefty price tag. Of course, it’s not one-size fits all but these systems are often suitable pop-up shops or businesses that trade in varying locations. Either way, most shops prefer touch screen tills so that checkouts remain uncluttered and the customer experience is more positive.

 

Hair and beauty salons

Industry specific retail systems can go a long way towards improving the customer experience and streamlining business operations. The best retail software available to hairdressers and beauty salons work can be easily integrated with existing booking apps and websites, so adding an EPOS system should cause minimal disruption. The implementation of an EPOS system means clients will be able to arrange appointments without picking up the phone. For hairdressing and beauty salon businesses, EPOS systems work with diary management, and can be pre-programmed to include length and cost of treatments as well as staff working hours to help reduce risk of human error when making bookings. This, coupled with stock control management as well as payroll and back office statistics, is a breakthrough offering to the industry and could have a hugely positive impact on retailers if the right deal is selected. Why not speak to us about merchant services for your salon, we’ve put together some handy tips to help you in this area too.

 

Motor trade

Implementing a point of sale retail system within a business in the motor trade could set your business apart from competitors. The motor industry has largely been slow at uptake on EPOS systems uk, but with software available that deals with customer enquiries and back office management means introducing this to your business could really set it apart.

 

Some retail software systems have the ability to contact customers prior to their MOT expiring, prompting them to book an appointment. The ease of this process for the consumer from a supplier they already know and trust could create thousands of pounds worth of extra revenue, with little effort or expense.

 

Trade desks

EPOS systems for retail don’t just cover businesses that sell directly to the customer – we work with a number of business to business retailers too. Choosing the best POS retail system could mean a more streamlined process across operations from email invoices, generating orders, taking deposits and providing a service to other businesses that will improve brand awareness via word of mouth.

 

Service providers such as Jewellers

Service industries can benefit from POS systems for retail as much as product led retailers. Jewellers are a good example as, although most sell products alongside services such as valuations and repairs, both elements of the business can be inputted into a retail sales system, ensuring combined management for both areas of operations.

 

Cash and carry

Selling wholesale goods to businesses can be just as competitive as a consumer facing high-street store. Implementing a retail management system for stock counts and marketing purposes could not only save time and money but provide business insight you might otherwise not have access to. In large warehouses or where there’s multiple sites, reporting becomes even more important for management. Introducing retail POS system software will help streamline this process and reduce risk of human error with aspects like stock control. A cloud based retail POS can be assessed from anywhere with an internet connection – proving particularly useful for site visits and management meetings.

 

Regardless of the size or location of your business, our team of experts are on hand to provide free and impartial advice to ensure you make the right choice for your business needs. Get in touch for a quote, price comparison or for any questions you have around merchant services.

Restaurant EPOS Systems

Point of sale systems for Restaurants

Technology has transformed the world of point of sales systems and tills, and nowhere is this more apparent than within the hospitality sector. When it comes to sourcing EPOS systems for restaurant, it can be tricky to understand exactly what your business needs, especially if you haven’t opened your doors to customers yet.

At Merchant Advice Service, we assess EPOS systems on four main factors;

 

Security

Back office functionality

Customer profiling

Staff management

 

Here we look at all four elements related to EPOS systems forrestaurants to help you decide what your business needs and to really make your EPOS system work for you.

 

Technology has transformed the world of point of sales systems and tills, and nowhere is this more apparent than within the hospitality sector. When it comes to sourcing restaurant POS systems, it can be tricky to understand exactly what your business needs, especially if you haven’t opened your doors to customers yet.

 

At Merchant Advice Service, we assess EPOS systems on four main factors;

 

Security

Back office functionality

Customer profiling

Staff management

 

Here we look at all four elements related to POS systems for restaurants to help you decide what your business needs and to really make your EPOS system work for you.

 

SECURITY

Restaurants can be very busy places, with numerous members of staff on site at one time. Installing a restaurant till system with restricted access for various levels of staff is vital. For example, refunds and discounts can only be issued by managing staff. Equally each team member has a unique pin code or log on card/fob, this way no unwanted hands can gain access to both funds or valuable business information.

 

BACK OFFICE

‘Knowledge will be your passport to wherever you want to go in the world.’

Marco Pierre White.

 

Having access to reports is important to running a successful restaurant or cafe. The best restaurant POS software documents everything from staff performance to the best-selling items on the menu. This enables managers and owners to make informed decisions when it comes to marketing, opening hours, staff rotas and menu changes. The beauty of having a smart back office system is that with a click of a button information can be accessed by the right people.

 

If the restaurant software has a clock in and out system for staff, payroll becomes easier and less time consuming. This very clever bit of software can handle all sorts of tasks, and if cloud based can be used from anywhere with an internet connection. Up to date restaurant POS system software can have the benefits of the following, saving businesses time and money.

 

CUSTOMERS

A smooth transaction will increase repeat custom. The best restaurant POS systems have the ability to take bookings and deposits, have a loyalty system in place and can issue refunds if the customer isn’t happy. If the EPOS can work alongside PDQ machines, this limits staff error when it comes to paying the bill. Equally some restaurant software systems can split the bill easily if customers wish to pay for items rather than splitting the overall cost with other dinners.

 

 

STAFF

The majority of restaurant staff would welcome a restaurant system that is easy to use and understand. Most popular POS systems for restaurants, are touch screen and very user-friendly. They can include the following features;

 

·         Staff clock in/out

·         Table plans and prompts

·         Prompts to up-sell

·         Reward/discounts

 

 

 

How we can help

At Merchant Advice Service, we do not believe that one size fits all. There are many elements to consider when finding the correct POS restaurant system for the business now and in the future.

 

Whether you are searching for a complete solution or an iPad based alternative we will aid you in finding the best POS system tailored to your restaurant at a price that’s comfortable for you.

Industry solutions

 Staff

Installing a functional and easy to use system means the likelihood of buy-in from staff increases. These systems can link each staff member with a sale to reward top performing staff members.

 

Acknowledging and rewarding staff with discounts and incentives encourages hard work all round. Some EPOS also have the ability for staff to clock in and out making payroll an easier task too.

best-app-for-bars-and-restaurantsHospitality Order and Payment Apps

Industry solutions

When it comes to choosing an EPOS system a major consideration is to ensure it’s industry specific. This will save you money and time in the long run. At Merchant Advice Service, we specialise in industry-led solutions, and these tend to fall under two categories;

 

RETAIL

From large chain retailer to independent boutiques such as jewellers, car trade, hairdressers and beauty salons – our experience is widespread and knowledge is vast.

 

Retail Systems can be tailored to suit individual business needs. Stock lists can be uploaded, barcode systems can monitor stock levels, orders can be generated and invoices printed. Customer information can be stored on some EPOS software uk and loyalty points rewarded if requested.

 

HOSPITALITY

From bars, restaurants and gyms to hotels, B&B’s and cafes. These systems work alongside booking systems in restaurants or deposits for personal training sessions at the gym. They can even be integrated with websites and apps when making online reservations at a hotel.

 

EPOS systems also prompt staff to up-sell products or services and can send orders through to kitchens automatically, reducing the scope for error or misplaced orders. EPOS systems also enable bills to be split between customers, and reward systems can be set up as part of loyalty schemes. Discounts for grouped items, i.e. meal deals, cocktail ingredients, or weekly special offers can be installed too. There is room to trial and error EPOS systems within the hospitality sector, which can then be modified to suit your business model.

 

 

 

Depending on the size and nature of your business you may wish to explore a variety of options in relation to your EPOS/POS hardware.

 

iPad and android solutions are popular for smaller businesses, or pop up shops. Many of these now have the same software as static and complete solutions. These can be used alongside barcode readers and cash draws as well as some chip and pin devices. However, if you wish to have something a little more substantial that will be used by numerous members of staff this may not be the most suitable option.

 

Complete solutions are much larger and will be the type you often come across in restaurants, shops and cafes. High quality systems use the same software but if you want one or more till points at your premises the complete EPOS solution is better suited. Built to last, the hardware can stand the busy day-to-day operations across industries. There is also an option to have client facing till screens, which appeals to businesses primarily in the retail and hospitality sector.

 

The Merchant Advice Service team are very experienced at dealing with requests for EPOS system installations and switch-overs. Speak to our friendly team today to discuss the options available to you Our completely impartial, free and honest quoting system will help you decide what’s right for your business now and in the future.

What are EPOS systems and how do they work?

 

EPOS or POS is an acronym for (electronic) point of sale. It’s commonly referred to as a till point where customers can pay for physical items, make orders or pay for a service.  EPOS system for hospitality  are very flexible and depending on business types they can be adapted to suit business requirements.

 

Most companies introduce EPOS systems to aid mainstream operations to help increase profit margins – they are even able to help with end of year accounts. The vast number of options available from iPad or could based systems to complete solutions means that there is a lot of choice but also a lot of confusion over which EPOS system the right one for your business.

 

When researching an EPOS System, it’s vital to consider your business as it stands now and where you plan for it to go – ensuring you find a system to work for you both in the short and long term. At Merchant Advice Service, clients across various industries often ask what to look for in a EPOS system. There are a number of considerations, so we have broken down the most important to make it as simple as possible.

 

Back Office

Information is power when it comes to creating or growing a company and having simple reporting and back office systems at your fingertips can save time, and therefore money for businesses. More recently, thedevelopment of EPOS systems has meant access to real-time statistics such as sales and employee performance, stock levels and retention has revolutionised the way companies operate.

 

Whether it’s cloud based or a physical system, you can access information from anywhere in the world – if needed.

 

Security

Implementing a POS system that is safe and secure should be paramount. A secure system reduces risk of theft but, more crucially, confidential business or customer information.

 

For larger corporations, systems with staff pins or swipe cards enables businesses to restrict or monitor access to provide both accountability and peace of mind for business owners.

 

Customers

Making a purchase or transaction as smooth as possible is a big factor when it comes to business retention and positive customer reviews.Whether you are adding clients to a database or emailing receipts for their ease, an efficient process – quick and simple – is a must.

 

If the customer is providing you with data or money for goods or services, the value exchange needs to be measured in cost and time as they are both important.

3 Most Common Devices You Will Need From an EPOS System

 

Let’s be honest. It requires a little technical background to get into how a system as complex as an EPOS system WORKs. And let’s assume no one here knows anything about computers and technical stuff.

 

Therefore, maybe “How does an EPOS system work?” is not the best question to ask. A better alternative may be how it helps with your business or simply what is it good for. Or even what does it have to offer?

 

But still, if you want to know how a system works as whole, you can start by learning how its individual components work and what value they add to your business. So let’s start with what EPOS systems are comprised of and then learn how some of the devices and features take the hassles out of your business.

 

An EPOS  systems for restaurants usually consists of two major areas; hardware and software. The hardware side includes various components – also known as peripherals or devices – such as barcode scanners and touch screens and the software side has countless features like Rota or stock management tools. However, to be frank, only few businesses will ever need all the devices and features. That is why we have picked only 3 most common hardware components as well as 3 software features that have changed the game of handling businesses in retail and hospitality industries. Now let’s see how each one works to help you advance your business.

 

3 Most Common Devices You Will Need From an EPOS System

As just mentioned, there are multitude of hardware components working in tandem with one another. However, only a handful may be necessary for a business. These are the integral devices without which you can’t call it an EPOS system. Below are the 3 most used devices of EPOS systems. However, there are some devices such as barcode scanners, card terminals and cash drawers that seem too common or may be used in one business type and not in the others. For example a barcode scanner is essential for a department retail store, while it is useless for a restaurant where there is no barcode to scan. So we decided to exclude them from this article.

 

 

 

Receipt Printers

This device has been in use for so long that we almost forgot how important it is. While the digital life has make the paper and whatever it is associated with – things like printers – obsolete, the receipt printers are still widely used. And the reason is obvious: you still need to inform your customers of the details of their purchase. They are the payers, so they need to know exactly what and how much they are paying or have paid for each item, right away. So, unless a new digital idea comes around to challenge the paper receipts, businesses still need a receipt printer.

 

Touch Screens

Just like printers, touch screens are essential. I mean, how else can you input all those various data into the software?! Besides, the data entry is just the tip of the iceberg. The bottom of the iceberg is the visual things like floor plans (exclusive for eateries) you will see. You can’t have that, unless you have a screen in place. In more technical terms, touch screens are what connect you with behind the scene. That is why it’s sometimes, however maybe mistakenly, called interface. There are lots of things going on in the background hidden by the interface. You would have the most difficult times working with the functionalities if it weren’t for touch screens (interfaces). I didn’t want to get technical on this, but apparently I couldn’t help it. Sorry for that!

 

Tablets

If you are in the hospitality or a huge retailer with quite large stockrooms, you would really appreciate tablets as a part of your EPOS system. In case of a hospitality, it will come to your attention when your wait staff want to send the head chef a quick note, informing him or her of an order change. Unless they use tablets to easily do so, they have to walk all the way to the kitchen to just leave a note. Or in case of that huge retailer, you would have to carry all the checklists and probably a calculator for a simple stock-take. Not to mention the likely errors you are going to make.

BENEFITS OF USING EPOS VS TRADITIONAL POS

 Benefits of EPOS Software

 

EPOS is different from traditional EPOS systems uk in physical retail locations as they offer:

 

Automatic Inventory Tracking - EPOS will adjust inventory numbers every time you make a sale, receive stock, or issue a return.

 

Mobility - You and your team can access your EPOS system from any tablet or smartphone, allowing them the flexibility to process orders no matter where they are.

 

Faster Sales Tracking - Track orders by the hour with EPOS to stay on top of stock and prepare for when your business gets busy.

 

Customer Loyalty Management - Grow customer relationships with better customer transaction data by tracking customer interactions and enabling you to implement reward and loyalty programs for repeat purchases.

 

HOW DO EPOS SYSTEMS WORK?

EPOS systems consist of computer hardware and software configured to process a wide variety of transactions and data points. For physical businesses (and businesses holding their own stock), this hardware can include peripherals such as barcode scanners, cash drawers, receipt printers, and more.

 

EPOS can also support data entry from a variety of devices, allowing you and your team to process product details, track orders, and measure sales all from one system or dashboard. Best of all, it can be configured to work with the existing features on your eCommerce website.

 

 

 

BENEFITS OF INTEGRATING EPOS SYSTEM WITH ECOMMERCE OPERATIONS

As more and more pure-play merchants and branded manufacturers open brick and mortar locations to engage directly with consumers, it’s critical that the point at which employees physically process customer payments for goods or services rendered is integrated and synced with all other business operations.

 

Benefits for Your Business:

 

Ensures consistent pricing on your website and other channels

 

Speeds up order processing

 

Manages all sales channels in one centralized dashboard

 

Tracks business performance and generates accurate progress reports

 

Auto-updates inventory numbers to avoid understocking or overstocking issues

 

Reduces the chance of manual errors

 

Prepares for peak times and makes accurate inventory forecasts

 

Benefits for Your Customers:

 

Speeds up transactions and order processing

 

Issues discounts, promotions, and custom offers to customers

 

Ensures product pricing and detail accuracy across platforms

 

Issues refunds and process returns in a timely manner

 

Creates a better online shopping experience

 

Accepts multiple payment types and shipping methods

 

Tracks recurring business and customer loyalty

 

ARE THERE ANY DISADVANTAGES OF USING AN EPOS SYSTEM?

The advantages of switching from a traditional POS system to an EPOS system are hard to beat. This being said, the one disadvantage is their high cost. Due to all of the integrations and customizations of your EPOS system, it can be more expensive option than other POS systems.

 

“Prices for a basic EPOS system start at around [$1,300]. An industry-specific system, with extensive back office features, comes in closer to [$1,900]. For an advanced system, with multiple terminals, it’s not uncommon to pay in excess of [$4,000]” – Magestore

 

Ultimately, the total price of your EPOS system will depend on what features you want and need for your eCommerce business.

 

5 TIPS FOR USING EPOS TO TRACK SALES AND INVENTORY

EPOS Tips

 

Ready to make the switch over to EPOS for your eCommerce website?

 

Here are five tips to help you make the most of your EPOS system and track sales and inventory more efficiently.

 

1. Choose the Right EPOS Software for Your Business

EPOS Software for eCommerce Businesses

 

There is no one-size-fits-all EPOS software for eCommerce businesses. You’ll need to research the closest fit for your business needs and customize the rest. Dedicated research is the best way to find an EPOS system that fully integrates with your website and existing systems.

 

Some questions to ask when choosing EPOS software are:

 

How many orders do I process, or expect to process, in a given timeframe?

 

How do customers place orders on my website? What features of this process are essential?

 

Do I want to be able to run promotions and offer discounts across platforms?

 

How do I plan on tracking my inventory? How can I avoid understocking and overstocking?

 

What metrics (sales, conversions, customer satisfaction, etc.) do I want to track?

 

Do I plan on accessing my EPOS system by device or location?

 

What is by budget for EPOS software, hardware, and customizations?

 

How do I need my EPOS software to integrate with my eCommerce website?

 

Your goal is to standardize your order processing and inventory tracking to help you work more efficiently. As before, it’s worth spending time researching your options. Fortunately, most EPOS software providers will be able to help with customization to create a perfect system suited to your business needs.

 

2. Consider Scalability and Plan for the Future

One of the top reasons to switch from your traditional POS system to EPOS is in preparation for business growth.

 

As your business grows, acquires more inventory, and processes more sales, your capacity for managing everything becomes limited by a standard POS. An EPOS system allows you to automate as much of these processes as possible, in a fast, accurate manner.

 

EPOS pulls in the data automatically, matching your inventory, notifying you of any issues, and tracking the progress of your business. While it’s essentially hands-off, you can access your system from anywhere, which gives you and your staff even more operational flexibility.

 

Even if your business is steady right now, it doesn’t hurt to plan for the future. An EPOS system ensures you are ready to handle an influx of new orders with ease.

 

3. Keep an Eye on Your Business from Any Device

EPOS makes it easy to manage all of your processes from one centralized system. You can see what’s going on with sales, inventory, and more from any device as long as you have internet access. What does this mean for your business? It means you’re better prepared to avoid common mishaps like out-of-stock errors and cancelled orders.

 

4.  Improve Customer Loyalty by Creating a Better User Experience

Your customers want things to be FAST. They want to find the information they’re looking for, place their order, and get their items delivered as quickly as possible. With an EPOS system, not only do you save time managing the sales portion of your business, but you create a better experience for users as well.

 

This can be done a variety of ways:

 

Stay on top of inventory to avoid out-of-stock issues

 

Match inventory to orders to ensure faster processing

 

Ensure accurate pricing on your website so users know what they’re paying

 

Track recurring business to target repeat customers with relevant merchandise.

 

Issue custom promotions and discounts your customers will love

 

Issue refunds and process returns quickly to keep customers happy

 

When you automate the systems in your business, you save time managing menial tasks and more time focusing on what matters most in your business – keeping customers happy.

 

A better user experience increases your chances of positive reviews and repeat business. You’ll also build customer loyalty and brand recognition, expanding your business scope over time. Even better, your EPOS system will be there with you as you grow.

 

5. Make Accurate Inventory Forecasts

Our final tip is to use your EPOS system to make accurate inventory forecasts. You can examine past trends to identify your “busy seasons” and plan accordingly. This ensures when peak season comes around, you’ll be prepared. You’ll also know to avoid holding excess stock during the slow times, saving you money and granting flexibility to focus on marketing efforts.

 

Your EPOS system can be fully integrated to track when stock is low, how many orders have gone out, and your overall business growth.

 

SUMMARY

 

Is using an EPOS system right for you? In short, it depends on your eCommerce business needs and goals. If you want to increase the efficiency in your business, avoid common order mishaps, and provide a better experience for your customers, an EPOS may be the right fit for you.

 

It’s important to research your EPOS software options and customize your system as needed. You can then track sales and manage inventory all in one place from any device. This not only saves you time, it helps prepare you for future business growth.

3 Most Common Devices You Will Need From an EPOS System

 

Let’s be honest. It requires a little technical background to get into how a system as complex as an EPOS system WORKs. And let’s assume no one here knows anything about computers and technical stuff.

 

Therefore, maybe “How does an EPOS system work?” is not the best question to ask. A better alternative may be how it helps with your business or simply what is it good for. Or even what does it have to offer?

 

But still, if you want to know how a system works as whole, you can start by learning how its individual components work and what value they add to your business. So let’s start with what EPOS systems are comprised of and then learn how some of the devices and features take the hassles out of your business.

 

An EPOS  systems for restaurants usually consists of two major areas; hardware and software. The hardware side includes various components – also known as peripherals or devices – such as barcode scanners and touch screens and the software side has countless features like Rota or stock management tools. However, to be frank, only few businesses will ever need all the devices and features. That is why we have picked only 3 most common hardware components as well as 3 software features that have changed the game of handling businesses in retail and hospitality industries. Now let’s see how each one works to help you advance your business.

 

3 Most Common Devices You Will Need From an EPOS System

As just mentioned, there are multitude of hardware components working in tandem with one another. However, only a handful may be necessary for a business. These are the integral devices without which you can’t call it an EPOS system. Below are the 3 most used devices of EPOS systems. However, there are some devices such as barcode scanners, card terminals and cash drawers that seem too common or may be used in one business type and not in the others. For example a barcode scanner is essential for a department retail store, while it is useless for a restaurant where there is no barcode to scan. So we decided to exclude them from this article.

 

 

 

Receipt Printers

This device has been in use for so long that we almost forgot how important it is. While the digital life has make the paper and whatever it is associated with – things like printers – obsolete, the receipt printers are still widely used. And the reason is obvious: you still need to inform your customers of the details of their purchase. They are the payers, so they need to know exactly what and how much they are paying or have paid for each item, right away. So, unless a new digital idea comes around to challenge the paper receipts, businesses still need a receipt printer.

 

Touch Screens

Just like printers, touch screens are essential. I mean, how else can you input all those various data into the software?! Besides, the data entry is just the tip of the iceberg. The bottom of the iceberg is the visual things like floor plans (exclusive for eateries) you will see. You can’t have that, unless you have a screen in place. In more technical terms, touch screens are what connect you with behind the scene. That is why it’s sometimes, however maybe mistakenly, called interface. There are lots of things going on in the background hidden by the interface. You would have the most difficult times working with the functionalities if it weren’t for touch screens (interfaces). I didn’t want to get technical on this, but apparently I couldn’t help it. Sorry for that!

 

Tablets

If you are in the hospitality or a huge retailer with quite large stockrooms, you would really appreciate tablets as a part of your EPOS system. In case of a hospitality, it will come to your attention when your wait staff want to send the head chef a quick note, informing him or her of an order change. Unless they use tablets to easily do so, they have to walk all the way to the kitchen to just leave a note. Or in case of that huge retailer, you would have to carry all the checklists and probably a calculator for a simple stock-take. Not to mention the likely errors you are going to make.

Why Adopting EPOS Software can Enable You to Track eCommerce Sales and Inventory More Efficiently

 

Why Adopting EPOS Software can Enable You to Track eCommerce Sales and Inventory More Efficiently

Consumer demands are escalating faster than ever before, requiring merchants to adopt a point of sale (POS) system that can keep up with the times.

 

As an eCommerce business owner, you have your hands full marketing your products, running promotions, tracking sales and managing inventory across a growing variety of channels. Whether you have existing physical stores or are considering a temporary pop-up location for the holiday season, a hospitality electronic point of sale (EPOS) systems can help you manage all these aspects of your business more efficiently. 

 

Need a hand managing your orders and inventory? Read on and learn more about EPOS and what makes it more efficient than other POS systems.

 

WHAT IS AN EPOS SYSTEM?

EPOS systems help businesses track inventory, sales, marketing efforts, customer loyalty and retention, and promotions. It includes a mix of EPOS hardware and software to help streamline the ordering, sales, and tracking of physical transaction processes. EPOS is especially helpful to eCommerce merchants because it can be integrated with the business’s existing website.

 

EPOS Software

An effective EPOS system relies on the use of the appropriate EPOS software for your business. Your choice in software will depend on how many products your business offers, how many orders your business needs to process, how you want to track inventory, and how you choose to manage customer data.

 

Your needs may differ from those of other businesses, so it’s important to pick an EPOS software that is the right fit for you. The primary features of an EPOS system include:

 

Accurate pricing

 

Inventory tracking and stock control

 

Order processing

 

Integration with your eCommerce website

 

The ability to issue promotions and discounts

 

Tracking of customer loyalty/recurring business

 

Already using a POS system? Here’s why you may want to switch to EPOS.

 

HOW IS EPOS DIFFERENT FROM OTHER POS SYSTEMS?

The benefits of EPOS over traditional POS systems are rather striking. From automated inventory matching to faster order tracking, switching to EPOS seems like a no-brainer, especially for retail businesses.