What is EPOS Software?
They are simple POS programs to advanced programs with a large number of features designed to streamline operations and improve efficiency. Also, there are many different vertical markets that POS software providers have customized their POS software to deal with.
The term "EPOS software" is a little bit deceptive because the vast majority of POS software programs handle much more than simply "point of sale" tasks. That is the reason the term "retail management epos software" is being used more often.
You may see sites and other sources refer to a similar software package as "point of sale software", "pos software", or "retail management software". In any case, don`t let this confuse you. They`re all referring the same.
The term "POS software" is basically a phrase that software providers thought of to describe their software. The issue is that every POS software system can be different! Also, the product can have a huge impact on the productivity of your business.
Before we get into the details, let’s begin defining the POS software in its simplest form...
POS software is used at the physical location at which goods and services are provided for the customers. In the other way, POS software takes place at your cash register.
When using POS software, all sales and transaction are done by the system. You will input your about what you`re selling, selling price and the quantity sold. Then the system calculates the total, including tax and tells to you how much change is due. It also records each sale and tracks everything.
Since the system remembers each sale, it can automate a wide range of tasks for you. For example, it will calculate your sales for the day, your sales tax totals and tell to you how often you sell an item in a given time period.
The above is just an example of the POS software in its simplest form, however there`s much more to it.
In fact, POS software can fill in as complete retail management system that will automate many areas of your business. The software also includes:
- Point of Sale
- Stock Control
- Automatically creating Purchase Order
- Automatic Price Updates
- Barcode Scanning
- Receivable Accounts
- Payable Accounts
- General Ledger
- Pay roll
- Customer Tracking and Follow Up
- Store Management
- EDI (Electronic Ordering)
- Also, a lot more!
Many people believe that retail POS software just tracks your stock, your books and all POS systems do basically something very similar. This is a common misconception. Each POS system has different features, qualities, weaknesses and intended uses.
These variations can have huge impact on your business! You can see the distinct differences once you start the software evaluation process of the software.