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ePOS Basics For Retailers

by Emily Warren on Tue, Nov 24, 2015 @ 11:37 AM

ePos.jpgBusinesses are increasingly looking for ways to save money, increase sales and speed up productivity. Any retailer needs to have their finger on the pulse of what is the most cost-effective way to run the business and electronic point of sale software is the answer.

About An ePOS System

ePOS is a digital system used in restaurants shops and a host of other retail outlets. It’s essentially an electronic way of letting people pay for services or goods. These systems have a range of uses, including:

  • Linking to a company website or any terminal in the business
  • Helping to improve how a business performs
  • Printing vouchers and receipts
  • Allowing information and stock to be securely stored
  • Allowing businesses to see which products are in demand
  • Making the retrieval of information immediate when it’s needed

How Electronic Point of Sale Works

An ePOS system includes software, hardware and peripherals suited to the point of sale environment. Common components include:

  • Keyboards
  • Cash draws
  • Chip and pin
  • Printers
  • Customer displays
  • Weighing scales, if necessary

These systems offer tremendous flexibility when it comes choosing the peripherals for a business. For instance, a high demand environment like a supermarket requires an ePOS system to be able to work in tandem with barcode scanners in order to ensure price accuracy.

Point of sale systems can be adapted to suit a range of working environments to ensure that they are uniquely adapted to a certain business. The system can be used for:

  • Keeping track of taxes and sales
  • Updating stock levels
  • Enabling faster customer service
  • Providing accurate pricing information

The Benefits Of An ePOS System

There are several long-term benefits, including:

  • Faster transactions
  • Accurate pricing
  • Improved data integrity
  • Reduced human error
  • Prices can be changed effortlessly for specials
  • Accurate sales reporting
  • Constantly updated inventory for sales, marketing and accounting

Long-Term Cost Savings

Retailers need to be considering the long-term cost-savings that a point of sale system can glean. These systems allow for noticeable savings on both employee time and accounting, can improve the efficiency of stock control and can act as the starting point for creating an important database for customers and their habits.

Tailored Solutions

The most important benefit of an ePOS system is that it can be tailored to a business’s specific needs. These systems are a vital addition to multi-channel retailing and offers benefits for both the business and the customers.

Does your business need an ePOS system? Talk to Vision33 today.

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