What Are The Advantages of EPOS Systems Over Cash Registers?
If your business uses an Electronic Cash Register (ECR) and a card terminal, at some point you`ve thought of upgrading to a complete Point of Sale (POS) system. However, if you have been hesitant previously, there`s no better time over now to upgrade. POS systems are easier to use and more cost effective than before.
With a POS system, you`ll see benefits in each region of your business, not only at the checkout. It`s now time to toss that chunky cash register to the wayside and select these 10 advantages you can count on to grow your business.
1. Increase Efficiency
When your cashiers have the right tools to support how they work, your operations will run more efficiently. So never expect your staff to reduce checkout times in case you`re not giving them the right tools for the job, a barcode scanner and a POS system.
2. Ease of Use
As the times of analog technology keep on falling further out of use behind us, so do cash registers. Now-a-days, everything is advanced, and everything is touchscreen. Navigating a touchscreen has become natural to practically all of us. With an intuitive interface, epos software is easy for staff to learn, which will result in less training time and help them to be more profitable overall.
3. Expanded Payment Capabilities
POS system advantages also include the ability to readily accept differing payments types including EMV chip cards, contactless installments (NFC), and mobile wallet payments, for example, Apple Pay, Android Pay, and Samsung Pay. By enabling your customers to use various payment types, you can increase revenue as customer satisfaction. A recent survey found that 44% of respondents like to pay using debit cards and 33% favor using credit cards as their payment method. That implies cash is slowly losing its reign as ruler and there`s a new queen around — plastic.
4. Greater Accuracy
POS system with an easy to use, touchscreen interface puts all the data your business partners and cashiers need at their finger tips. It takes out manually keying in things and prices like you would with a cash register. POS system technology improves accuracy throughout your entire operation with real time data. Eliminating to upload or enter data into back-office systems minimizing the risk of human error.
5. Stock Management
Unlike a cash register, POS offer technology including advanced stock management abilities. From tracking an item`s quantity available to setting up reorder triggers and a retail grid, epos software will save you long periods of stock management every week. Furthermore, the best part is your POS system will also give you real time stock data something that even the best cash registers cannot do.
6. Staff Management
Your epos software will reduce the time you spend on scheduling and its implementation. Now-a-days POS systems include time clock functionality, so your staff can check in and out on a POS terminal. Retail POS advantages empowers you with access control measures to ensure employee identity is verified for clock-ins and access to your system particularly for functions including voids and returns to minimize shrinkage from employee theft.
Epos system has reporting feature that allows you to keep a close eye on sales, profits, and costs like Cost of Goods Sold (COGS). POS reports give you data in real time and formatted with easy to read data. With cloud POS reporting, you can access reports where ever you are at home or travelling. Regardless of where you are, you`ll generally have the data you need to make data driven decisions.
Your POS system will also allow you to screen Key Performance Indicators (KPIs, for example, average customer sales, stock turnover, and sell-through rate. This visibility into your business performance will help you with distinguishing prosperous areas of your business and others that may need to improve. In any case, this insight will help you in making the important changes in accordance to help you with maintaining profitability and competitiveness.
8. Streamlined Accounting
An epos system streamlines the accounting process. Old fashioned cash registers force accountants to figure out hundreds of receipts, but with a POS system, you can print reports and, much of the time, import data directly with your accounting software.
9. Detailed Receipts
POS systems give your customers more detailed receipts instead of only a piece of paper with the date and the amount of sale. POS systems use stock data to provide much more data, including product description, price, and savings from a sale or coupon. With certain systems, you also have the option to customize a specific segment of the receipt like the footer. You can use this to print coupons directly on the receipt, give data on your loyalty rewards program, state your return policy, or promote your social media channels or some other custom message.
10. Faster Service
Do you like to wait for a long time in long queues? We didn`t think so; we don`t either and neither do your customers. Indeed, if checkout lines are excessively long, customers will get baffled and return the items they planned to buy and walk out. A POS solution provides a faster checkout process than cash registers, especially in case if they`re using a barcode scanner to ring up the items. POS technology allows you to take advantage of the checkout experience to engage customers and ensure they have with a good impression of your brand.
Epos System Advantages Don`t End Here
POS solutions can bring down the cost of working together while increasing profitability, improving your bottom line. Upgrading from an ECR to a POS system will bring about a quick return on investment (ROI), both in amount and time spent on everyday operations.