An EPOS or Electronic Point of Sale is a modern form of the conventional cash register that is effective, especially in business organizations. EPOS systems consist of three core elements: hardware, software which is also understood as point-of-sale software, and payment processing. Usually integrated into the internet, an EPOS system allows getting real-time information for the management of sales, stocks or customer relationships. More info about Epos Till Systems
Key Benefits of EPOS Systems:
EPOS systems offer many advantages, and mainly, EPOS systems allow the owners of businesses to track and manage all aspects of their companies. They record all the transactions, track the stock, produce extensive reports and keep the records of the customers as well. Such systems eliminate the likelihood of making mistakes manually, are time-saving, and offer information that supports improved decision-making. Furthermore, superior reporting provides the EPOS with the action of tracking sales patterns, examining product popularity and organizing stock control by the business owners. Lastly, an efficient and fully developed EPOS system enables organizations to increase effectiveness, raise customer satisfaction, and increase the firm’s profitability.
Who can benefit from the EPOS systems?
EPOS systems are of interest to almost all forms of businesses such as retail business, hospitality business, services business and health care businesses. Everyone from the single trader using a single store to the owner of a chain of stores can be able to benefit from EPOS. Currently, whenever it is a dining facility that requires speedy order fulfilment or a retail chain that demands stock management across outlets, EPOS offers tools these businesses might require to elevate their processes.
Features of an EPOS System:
A typical EPOS system offers the following features:
- Sales Processing: High-speed completion of sales, returns, refunds and discounts.
- Inventory Management: Real-time location management of stocks and tracking of product variations.
- Customer Management: Loyalty programs, marketing, and customer information and feedback service tools.
- Reporting and Analytics: Routine documents for sales, stock, and the performance of businesses.
- Security Compliance: Fully customizable templates, widgets and integrations with protection compliant with PCI DSS and GDPR.
EPOS Hardware
An EPOS system includes essential hardware components that facilitate a smooth checkout process:
- POS Terminal: A screen that has a touch-sensitive surface where end users make the transactions and which displays the interface of the software in question.
- Barcode Scanner: Sca
Ns product bar codes for efficient use in sales processing and to update product stock positions.
- Receipt Printer: Imprints receipts immediately, thus, providing better customer service.
- Cash Drawer: Contains cash transactions and connects to the Point of Sale terminal.
- Electronic Scales: Especially suitable for companies that operate on a scale basis, allowing for correct pricing.
- Mobile Devices: Technological devices such as tablets and Smartphones enable businesses to work from different regions and make sales.
EPOS systems vs traditional POS systems
As we have seen earlier, conventional POS systems do not have the functionalities of EPOS systems, these include real-time data access, software compatibility, and working from a distance. However, with a basic POS limited functionality like multi-location involvement and cloud access are unlikely to be supported. These systems provide flexibility, where, unlike MPOS systems, the data can be accessed from any place, and the systems can be integrated with such tools as CRM and eCommerce.
Evolution of EPOS Systems
The idea of the cash register dates back to the end of the 19th century when mechanical cash registers were first used. They have since expanded to include credit card payment, and even Internet banking and other online payment systems. The current EPOS systems are very developed and can enable mobility, integration with the web, and other software applications, and a lot of other features that give key information about the business needs.
