Revolutionize Your Business Operations: Why EPOS Solutions are a Must-Have in Today's World




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Do you need more opportunities to save time, optimize business efficiency, access more customers, and level up sales at your stores? EPOS systems play a pivotal role in the retail revolution. Used to process online sales transactions more efficiently while cash tills or traditional POS systems slow transactions down, increasing chances of error. At the same time, EPOS allows retailers to manage stock more efficiently by synchronizing data between offline and online stores.

What is an EPOS System (Electronic Point of Sale System)?

EPOS stands for electronic point of sale system and comprises software and hardware that work together for maximum efficiency in-store operations. A store owner can quickly track sales transactions while performing other tasks more easily with EPOS, providing a clearer understanding of his company's performance.

EPOS systems are increasingly connected to eCommerce platforms, enabling customers to enjoy an effortless shopping experience and maintain accurate stock levels.

EPOS Software

Software is essential to effective retail management. After selecting the EPOS that meets your needs, the next step should be selecting compatible hardware to accompany it.

Common key features of EPOS software, depending on entire business requirements:

  • Tracking and controlling stock
  • Order and purchase processing
  • Loyalty program
  • Discounts and promotions
  • Integrating with eCommerce Website

Some businesses require extra functions from EPOS suppliers; therefore, they offer systems that can scale with business growth. Many EPOS vendors even provide customization services to provide EPOS solutions for business they seek.

EPOS Hardware

Every business will have different EPOS requirements and may want to incorporate different EPOS components.

Core hardware comprises a terminal where orders and payments can be entered and made. Touchscreen displays have become much more affordable in recent years and now product features as part of many retailers' arsenals, allowing faster data input at the point of sale while eliminating keyboard requirements.

Connected devices may or may not include:

  • Cash Drawer: Lockable metal drawer that stores cash. These cash drawers can only be opened via the EPOS system to reduce employee theft of this money storage method.
  • Recipient Printer: Record of transactions between client and recipient printer.
  • Barcode Scanners are electronic devices that read barcodes and identify product information on EPOS systems. There are different kinds of barcode scanners; handheld and multiline are particularly popular options. Multiline barcode scanners allow multiple scanning angles that significantly accelerate the reading of codes from multiple angles; this makes these ideal for areas with high transaction volumes, while handheld models work best when dealing with lower transaction volume transactions.
  • Terminal PDQ: Device designed to accept mobile payments made using credit cards.
  • Pole Display/Customer Display: These standing displays offer advertising and price information at the POS terminals.
  • iPad/Tablet EPOS: A portable device that assists business operations alongside or instead of traditional EPOS. It is an excellent solution for businesses that require greater mobility or smaller stores, such as mobile vendors, fast-food eateries, coffee shops, gift stores, and juice bars, among many others.

Compatibility with EPOS hardware and software can be achieved by purchasing them from one provider, eliminating integration fees while cutting costs. But even then, it may fail to meet your expectations; you will likely have to begin again, as hardware/software from different brands is unlikely to work together harmoniously.

How Do EPOS Systems Work?

An electronic point of sale system (EPOS) refers to any cash register/cash till connected with a PC for processing transactions and cash payments.

EPOS uses barcode readers and scanners to read product barcodes and calculate customer charges accurately while offering speedier service and greater transparency about custom pricing information. It provides customers with accurate price details while offering quick service at once.

EPOS software manages real-time inventory levels and customer records for backend seller shops. At the same time, their owner can access various reports at any given moment that provide an accurate picture of business operations, helping make sound business decisions.

Why Use an EPOS System?

EPOS systems offer several distinct advantages over traditional point-of-sale systems in terms of long-term benefits:

Customer:

  • Verify custom pricing plans and product data across various channels.
  • Order processing can be expedited;
  • Customers can take advantage of discounts and promotions both online and offline;
  • Multiple payment types and shipping options ensure a more convenient shopping experience.

Store Owners, Please Read:

  • Coordination across sales channels and streamlining operations will lead to success for your business.
  • Multiple shopping options to enhance customer satisfaction: online, in-store click and collect, and click and reserve are all options that enhance customer experience.
  • Send orders directly to your suppliers if you require more accurate forecasting.
  • Stay abreast of your business performance with insightful reports, including sales reports, cash flow analyses, and staff performance evaluation reports.
  • Complete Omnichannel POS Selling will enable your organization to boost its sales.
  • Manual processes can save both time and errors by being faster and simpler.
  • Select and update the correct data instantly;
  • To reduce employee theft, set permissions for each tier of staff.

EPOS System: Its Importance

Electronic Point of Sales Systems: An EPOS is an integrated computer system with many benefits; these include easier use, superior reporting capabilities, and greater functionality. EPOS systems help companies meet their goals more easily while growing by adding advanced hardware systems. EPOSs improve business size by offering more accurate reporting, tracking sales, and processing data in addition to many other functions; they serve many uses, which we will discuss herein. Below are just a few.

  • Productivity Enhance - Today, every business's main aim should be to boost their sales productivity and reduce expenses by saving money through increased productivity of employees and profits. EPOS systems help maximize employee output and prevent fraudulent behavior or sales losses hindering growth.
  • Improve Reporting Access - Everyone desires to save data for future use, which EPOS systems make easy with their tracking and recording advanced features. Reports give an in-depth picture of business performance, loss, profits, and real-time sales reports at any time of your choice - the results help facilitate better decision-making capabilities by recording accurate information that aids decision-making processes as well as resources needed for growth or order needs, all this data collected could even lead to changes that increase sales!
  • Cut Costs- Running a small or medium business requires investing both money and time; an EPOS (Electronic Point-Of-Sale System) automated system is an invaluable way to reduce these expenses by helping manage staff scheduling, calculate staff costs and identify which resources are most critical, saving unnecessary expenditures from occurring; EPOS also detects inventory cost that's no longer sellable thus eliminating further purchases; it reduces errors and protects against larger damages that might need repairs - ultimately saving more by cutting repairs expenses down significantly.
  • Enhance Customer Experience - Customer satisfaction should be at the heart of every business: Customer loyalty is key. A successful business cannot thrive without high customer satisfaction levels and experiences; EPOS systems play a huge role in raising them further by keeping track of inventory management systems to guarantee customer satisfaction, making sales processes and payments simpler for customers, with touch screen monitors/scanners currently dominating as the go-to solution to increase both profits and transaction speeds.
  • Improve Efficiency - EPOS systems are powerful tools for effective business management, expediting transaction and process payments to increase speed while decreasing management times for customer orders, improving both satisfaction and productivity.
  • Improve Operations - EPOS systems help streamline operations with centralized sales, customers, employees, and inventory management POS. It removes multiple systems and manual processes or spreadsheets, saving both time and improving efficiency.
  • Enhance Inventory Management- EPOS systems provide businesses with real-time stock monitoring to reduce waste, shortages, and overstock while helping businesses plan inventory reports needs and forecast demand.
  • Support Customer Relationship Management - EPOS systems gather customer data such as their buying habits, preferences, and contact info to personalize marketing campaigns, offers, and promotions to increase customer retention and loyalty.
  • Secure Transactions- EPOS provides secure transaction processing that helps safeguard against fraud, chargebacks, and unauthorized transactions while complying with PCI-DSS (Payment Card Industry Data Security Standards).
  • Scalability EPOS- Systems are highly configurable to fit the unique requirements of each business, from accounting software and CRM platforms through marketing automation services and more - offering complete solutions that support growth.
  • Access Anywhere And Anytime -Cloud computing allows businesses to take control of their operations remotely while making informed decisions based on real-time information. Fast-growing Businesses can manage their businesses remotely using this flexible technology while taking informed actions using real-time intelligence.
  • Increase Employee Productivity - EPOS systems automate many manual tasks employees perform, such as effective inventory management and reporting, freeing them to focus more on market-to-customer service or increasing sales. This increases employee productivity.

There Are Five Different EPOS Systems

Any business requiring management of inventory quantities and sales performance could use an EPOS. Examples include brick-and-mortar retail shops, restaurants, cafes, pubs and bars, salons, pharmacies, convenience stores, gyms, sporting equipment stores, online businesses, etc., and EPOS systems designed specifically for restaurants, pop-up shops, or take-out.

Related:- Who utilizes ERP Software & Retail Business Management?

Retail EPOS System

EPOS retail system can serve businesses such as supermarkets, grocery stores, garden centers, pharmacies, hardware stores, or general shops.

Hospitality EPOS System

This EPOS is perfect for hospitality business owners and multinational chains operating restaurants, cafe shops, hotels and pubs, nightclubs, quick food centers, or fast-food outlets.

Fashion EPOS Systems

It provides optimal solutions for clothing boutiques, shoe stores, fabric shops, and suit stores.

Beauty EPOS systems

They are perfect for salons and spas of all kinds; gyms, tanning rooms, hospices/NHSs, massage parlors, or any other salon could also use one.

Service EPOS System

This EPOS is ideal for service businesses such as launderettes and repair shops.

Traditional EPOS

It is best suited to large retailers looking for an all-inclusive system with its connected hardware. As it relies less on internet connectivity than its modern counterparts, traditional EPOS provides companies conducting many daily transactions an affordable choice.

Mobile EPOS:

Step by step for any small business, mobile EPOS systems provide numerous benefits. Mobile EPOS systems can connect directly to card readers or printers as needed and perform many of the same functions as traditional EPOS.

Tablet EPOS

Like its mobile equivalent, the tablet EPOS provides similar benefits when processing more transactions simultaneously. Tablets offer greater processing speeds, which makes them an excellent option if your business expands quickly.

EPOS System Purchases: 5 Common Mistakes to Avoid

Buy EPOS Systems at the Lowest Price

Correctly, There are many offers of low-price hardware and software; be wary of succumbing to temptation and trying to save some cash without understanding its repercussions first.

By purchasing an EPOS cheaply, you could put their business at risk and spend more money on repairs than initially invested.

Again, consider your budget carefully and plan a couple of years, prioritizing functions and purchasing as advanced of technology as possible - you'll save time and money with an EPOS in your future business endeavors!

Choose The Wrong Supplier

A reliable EPOS provider can make all the difference for any business, so conduct thorough research before selecting any supplier.

For any potential EPOS provider, these questions should be of primary consideration:

  • How long has this company been operating?
  • What is the size of your company? What is the size of their company?
  • Does the business provide the point of sale software as a reseller system?
  • How do they handle support and returns?
  • Are there any product or training guides available?

Buy Hardware First

At most retailers, when purchasing point-of-sale hardware first and then searching for compatible software later, retailers make a costly error. Certain apps only support certain hardware models.

It is best to go in the opposite direction.

Choose an EPOS that best meets your requirements before selecting hardware compatible with its software.

Pay Attention to Future Needs

Be wary of future needs. An EPOS system contains important business data; replacing one after only months would be unwise.

Consider an EPOS system designed to meet current and long-term requirements rather than one designed solely to satisfy short-term issues-set goals for five years into the future. Prioritize needs based on priority before matching them to budgetary considerations.

Only Expect One System to Suit Some

Every industry and business has specific needs that need to be fulfilled to operate successfully.

An EPOS that can easily accommodate different colors and sizes of clothing may also serve well for the shop. Shoppers might utilize their EPOS for payment purposes with customizable discounts that fit their store.

Finding an EPOS solution that fulfills all your requirements right off the bat can be challenging, so select one that meets 95% or so and customize for the rest - many reputable EPOS suppliers provide customization services. Hence, their solutions fit exactly with the needs of each business.

Build Your Own EPOS System

As a retailer, EPOS retail solutions can be invaluable tools in today's business landscape, aiding customer service and operations for increased results. When installing one yourself as part of your retail operation plan, retailers should consider these factors first to maximize success with any POS solution they implement.

Arionerp POS can take your retail business to new heights. Arionerp EPOS stands apart from its competition by providing offline functionality, including barcode scanning and discounts; Arionerp's Magento experts can create an iPad- and web-based system just for your retail business!

Arionerp allows customers to checkout orders even without an internet connection, with data synching to its backend once internet connectivity returns. While Arionerp's pricing plan structure depends on an upfront payment model, choosing an annual subscription might cost more initially but will reduce operational expenses over time.

FAQs

1. EPOS and POS Systems: What's the Difference?

EPOS and POS are virtually interchangeable terms; most people mistakenly refer to an electronic point-of-sale terminal (EPOS) as more modern; both terms describe an integrated software/hardware point-of-sale system that helps retailers solve all their retail operations needs from checkout processes online/offline through inventory count control to customer loyalty programs management and reporting capabilities.

EPOS, advanced POS systems, and traditional POS are the ideal choices for businesses with complex requirements; traditional POS is limited in its capabilities to manage in-store checkouts only.

2. Examples of EPOS Systems

Many different EPOS providers and systems are currently on the market, from Arionerp POS (a popular EPOS solution), Vend, Lightspeed MicroBiz TouchBistro, etc.

3. Is EPOS Expensive?

EPOS systems tend to be more costly than their traditional till counterparts, and their upfront cost may prove prohibitive for smaller businesses.

Basic EPOS systems cost around PS1,000, while more advanced versions with industry-specific back-office prominent features can cost approximately PS1,500; multi-terminal systems often exceed this figure.

Arionerp costs depend on three variables. Your number of shops, the complexity of your solution, and support needs all affect its cost; no additional charges will be applied when creating or building your POS system - our Arionerp experts can assist in selecting an ideal system to suit your company!

EPOS and POS Systems: Are They the Same Thing?

Let us dispel any confusion you may be feeling regarding EPOS and POS systems; are they similar-looking systems, or is something different happening here?

The "point of sales" (POS) is where customers make purchases at your retail shop. The corresponding POS system (comprised of software and hardware components that enable contactless payments, tracking inventory, and sending receipts via email) allows them to do this efficiently and successfully. Like EPOS systems, these POS systems also exist online.

Arionerp POS can make checkout much more efficient.

Arionerp's customizable checkout allows for swift, effortless fulfillment of the checkout process. Create customer profiles quickly, add products faster, apply discounts to existing items, or create brand new ones as needed - it all happens quickly and seamlessly!

Benefits of EPOS Systems for Retail

Electronic Point-of-Sale systems (EPOS) offer numerous benefits in retail operations. They will soon make cash registers and traditional tills obsolete. Let's look closer.

1. Accept Payments in Every Part of Your Store

Let's say you've found your dream phone at the Apple Store but need further details; then its "genius" can provide answers, and the payment method via their card reader is straightforward - soon, this phone could be all yours!

EPOS systems can easily integrate with mobile card readers, chip and pin machines, scanners, and receipt printers - which explains why event organizers and food sellers were among the first to adopt EPOS.

2. Powerful Reporting Tools Help Inform Decisions for Your Business

Once you start selling using EPOS systems, powerful reporting capabilities help inform informed business decisions. Actionable reports produced by these systems help guide better decisions.

Most systems provide an overview of an online and offline operation, including any retail sales activity, cash tracking/flow reports, product discount reports for retailers, and financials (and more).

Retail reports provide insight into sales breakdowns. You'll see which staff member sells most frequently, which locations boast higher sales, when are optimal times and customers likely to return, etc.

3. Omnichannel Success

What services or products can customers purchase from you? How easy is it for customers to order online, pick it up in-store, etc? An EPOS system allows customers to shop from any location with multiple fulfillment methods (in-store pickup/home delivery available).

Consider it closely. Perhaps your store needs to carry what customer management needs for sale, and with an EPOS, you can quickly check inventory levels to send items directly out the door; shipping rates will automatically calculate during checkout.

What happens if someone wants to exchange something they bought online with another item in your store? Your inventory is connected, making it simple for you to meet customer demands.

4. Spend Less Time on Admin With Integrated Inventory and Product Management

What else is possible with smart inventory Mmnagement? We will begin by anticipating demand; good EPOS systems may suggest purchase orders based on product performance or seasonality.

Your system can notify you based on vendor lead times and current sales volume to alert you if stock levels become depleted while also notifying you if certain products consistently underperform and take up unnecessary storage space. Plus, with its barcode reader functionality, you can accurately count inventory.

All this ties in directly with product management.

Product differentiation can be accomplished by altering individual items' size, colors or materials. Furthermore, keeping track of your merchandise across multiple shops or online can simplify managing inventory.

5. Sales and Customer Satisfaction

As your associates near completion, EPOS software may suggest upselling products that meet customers' needs while increasing revenues - this is just one way that EPOS increases sales magic while improving customer relations.

An EPOS lets you quickly generate SMS or email receipts, apply discounts immediately, and automatically calculate taxes according to location. Furthermore, customer lists become more robust to reengage existing ones; managed, retrieved, or email shopping carts may also be managed and saved/emailed accordingly.

Arionerp can unify all your sales channels for one easy solution.

Arionerp is the only platform that combines all your sales channels into one comprehensive solution, enabling your business to engage customers more easily while selling anywhere globally.

6. Build Customer Loyalty

Your EPOS system allows you to tailor emails more specifically. Likewise, create customer profiles for every in-store or online purchase so you can keep an accurate record of details such as contact info, order history, and shipping costs for every customer.

Use this data to connect directly with customers through your EPOS, be it through phone calls, emails, or SMS about relevant offers. Be mindful not to spam people with unnecessary notifications or offer discounts and loyalty programs in return!

7. Integration With Other Tools and Apps

Are your customers taking advantage of live chat's outstanding features? Improve their experience by connecting EPOS to an LCC application; many EPOSs allow integration of great tools and apps - including this form of customer communication!

Integrate a loyalty app or pickup and delivery feature for easy click-and-collect pickups, zone management, and set delivery rates.

8. Keep Up the Competition With Innovative Payment Technologies

Would your customers benefit from live chat support? Make them even happier by connecting epos to an appropriate live chat application; many epos tools and apps integrate well, including one dedicated to live chat services.

Integrate an app for loyalty management or pickup/delivery service into the platform for click-and-collect pickups, controlling delivery zones, and setting delivery rates.

9. Simplify Staff Management

Different staff roles will require different access levels in your EPOS; managers might need to approve orders, while warehouse workers need delivery verifications. With the right EPOS, managing access permissions and permission levels for staff is easy.

Tracking performance in all areas, be it sales or otherwise. An EPOS can help track staff IDs and assign sales, allowing for automatic bonuses and commission payments to your sales consultants' staff.

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Conclusion

An EPOS can be invaluable to your business as it streamlines processes, allows employees to complete sales transactions easily, increases productivity, and can store all necessary data quickly when required. Selecting the best retail point of sale (POS) system for retail businesses can be an essential decision in increasing efficiency, customer service levels, and profitability. A solid POS should include inventory management tools such as tracking sales consultants' figures and one-time payment processing while remaining simple enough for staff use. Cloud-based platforms like Square and Arionerp POS provide increased agility by giving access to real-time information while giving businesses flexibility in adapting to changing retail environments - and robust systems allow businesses to offer customers personalized and seamless shopping experiences.