What Is The Need Of Integrating An EPOS System?
This resulted in modern trends in POS field, moving towards more and more technological, efficient, and fast till systems. Nevertheless, not many businesses are using old fashioned cash registers.
The fundamental elements of an EPOS system bring the most benefits to organizations that need to effectively coordinate operations among front and back offices. But, in general, an EPOS system, along with its tool kit, can literally revolutionise a business` performance.
It isn`t just about registering figures, accepting payments, and printing receipts. An Epos is basic to:
- Improve Inventory Management
- Manage Your Business Better Using Data Analysis
- Improve Customer Satisfaction
- Boost Your Customer Loyalty Programmes
- Save Time and Money
When you incorporate a POS system that includes hardware, epos software and peripherals, then you will accelerate your daily sales transactions, saving a lot of time and money. EPOS systems have comparable features, but with some additional features like data reports and better customer experience that will ultimatfely drive your business` success.
The following are some of the Advantages of EPOS Systems
Improve Inventory Management of Your Business
When a product is scanned and purchased, the data base is updated in real time. The stock volume can be tracked directly from the EPOS system itself or in case if you own an mPOS system, from each electronic device synchronized with it.
Thusly, by monitoring product turnover you will be able to track the amount of goods sold and when stock should be replenished. Also, as per the data that you collect through the system, it is possible to envision a plan for the arrangement of goods within the store.
In terms of marketing, checking the stock performance and the frequency with which specific kinds of items are sold is fundamental to determine the trends of usage. This leads to in-store spaces improvement and, ultimately, to cost-cutting measures.
Manage Your Business Better Using Data Analysis
As mentioned above, EPOS systems record all the business data. The related data is normally supplied in the form as reports, diagrams, and charts. Data analysis generally deals with the products purchased but in addition financial flows.
Tax rates are automatically calculated and saved in the system. In addition, most of the EPOS systems generally work with cloud-based software, so all the data is stored and traceable on a daily, weekly, monthly and yearly basis.
Using an EPOS system requires Internet. Fortunately, some EPOS software guarantees temporary data backups and continued functionality even if the web connection is lost.
Improve Customer Satisfaction
Waiting time is may be one of the most annoying things for your customers. Each business wants fulfilled customers, isn`t that so? Hence, EPOS systems run to make the buying process faster and to restrict the line in front of the POS terminals or cash registers.
With an EPOS system scanning products and taking payment transactions now only requires a couple of seconds. Hence, customer checkout speed has been verified and confirmed to be an important factor for consumer loyalty.
Apart from this, customers frequently ask the staff about product availability. Normally, it is time consuming to go and check store rooms, and making customers wait longer is never good thing. In these cases, EPOS systems provide direct data concerning the stock level of each sort of good in real time.
In this way, with EPOS systems, your business can focus on efficiency while at the same time making your customer happier and satisfied.
Boost Your Customer Loyalty Programmes
Still regarding about the customer trends, customized loyalty programs can be considered. Normally, an EPOS system collects data about the customers taking part in the program. When a loyalty card is initially created, individual data is gathered (sex, age, status, occupation, nationality, and so on) in the system that is used. Thusly, when a customer makes a purchase, it is possible to figure out what their shopping tendencies are.
For this reason, thanks to the contained data, custom-made discounts and promotions can be designed for each customer according to specific habits and tastes. Also, you can build customer profiles to better understand what they really need and their trends considering about the purchases.
Save Time and Money
It is evident that all the POS system functions greatly benefit the business. By carrying out tasks that don`t need Human Resources, the organization can save time and money.
By using an EPOS system some parts of the selling process become automated, so you can use your staff in different zones that can`t be automated without any problem. Thus, further improving your business functions.
All these mean huge cost-cutting capacities and granting the opportunity to invest the cash saved in other areas of your business. It has become certain that implementing an EPOS system can support company growth and business performance improvement.
Is It Safe to Use an EPOS System?
It is sensible to think about the security of your transactions. Business owner’s stress over their customers` data since it is basic for each organization to secure this sensitive data to hold their customers` trust and satisfaction.
Obviously, the organizations that build the software which is used in the POS systems have thought about the security of these data. Therefore, most EPOS software is PCI complaint, which is a bunch of security standards that guarantees the well being of sensitive data.
Therefore, you can also make sure about your business transactions using a payment gateway system, to be better prepared for any potential security risk.