Electronic Point of Sale (or EPOS) systems make up the frontline of retail businesses. They’re the perfect example of technological innovations that have revolutionized the way we do business.
A decent EPOS solution can provide you with an arsenal of tools for managing your business. These systems can help you monitor your inventory levels, your sales, and also manage your staff. Any business that does business from a storefront should invest in EPOS systems.
These systems come in a variety of flavors. You can find off the shelf solutions that can be used right away. There are also bespoke systems that can be tailor made specifically for your business. Figuring out what solution should one go for isn’t exactly easy. Many startups scratch their heads while going through the countless options that they have. If you’re confused about what kind of system should you buy, then check out this best epos system review. You won’t find a more comprehensive buyer’s guide for EPOS systems anywhere else.
Now, let’s take a look at why should businesses invest in EPOS systems.
Why should you consider investing in an EPOS?
There are a lot of small business owners who think that EPOS isn’t worth it. This is thanks to the common misconception that EPOS systems are suitable for medium to large scale businesses. However, this is far from the truth. EPOS systems are incredibly useful for smaller businesses as well. In fact, they can be thought of as crucial asset in the weaning phase of a business. The monitoring and analytical capabilities that EPOS provides can help prevent businesses from making costly mistakes.
Apart from increasing a business’ situational awareness, EPOS can also help improve efficiency. EPOS manage this in a number of ways. An EPOS system makes billing a lot faster. Thanks to this, a single point of sale can cater to a greater number of customers in a smaller amount of time. This also means that customers have to wait less for billing. EPOS significantly reduces the chances of human error in data entry. You don’t have to worry about making an incorrect bill or messing up your inventory levels.
With the right tools on hand, an EPOS system can also become a powerful data collection tool. The point of sale in any business is where a business makes direct contact with its customers. EPOS solutions allow businesses to engage their customers and gather data from them. For instance, EPOS can be used to collect customer contact details. If you pair an EPOS solution with a CRM solution, your business can gain the ability to target each and every customer based on their spending habits.
The advantages that come with an EPOS system are nearly endless. The easiest way to sum them up would be to say that EPOS makes a business faster and more capable. According to this article, EPOS systems have the ability to strengthen the entire value chain of a business. They deploy various tools and features that allow businesses to perform better on various fronts.
What kind of EPOS system should you go for?
EPOS systems can be divided into two major categories; off the shelf, and bespoke software. Off the shelf software is usually more affordable. It provides a cookie cutter solution for businesses wanting EPOS capabilities. Off the shelf EPOS solutions are recommended for businesses wanting to dip their toes into this solution. Their affordability also makes them ideal for businesses that have low funds. The cons of off the shelf solutions are that they may not be able to meet your business’ specific requirements. Some tools may work well for you, while some won’t be of any use at all.
Bespoke systems usually cost more since they’re developed specifically for the client. Bespoke systems are more specialized. They include features and tools that are made with the client kept in mind. This makes bespoke systems far more “fitting” for a business. They manage to cater to each and every requirement of a business to the letter.
Off the shelf solutions are suitable for businesses that have limited funds or don’t want to invest too much in EPOS. They are also suitable for businesses that are don’t have any specialized demands.
Bespoke solutions are usually recommended for businesses that have specialized demands. Businesses with needs that cannot be met with average EPOS solutions. There’s an option for businesses that are stuck in the middle as well. If you cannot decide between bespoke and off the shelf, you can go for an off the shelf solution with the option for customization.
EPOS systems are incredibly useful. They provide businesses with functionality that increase business effectiveness. The best thing about these solutions is that they aren’t too complicated either. You don’t need any specialized training in order to learn how to use EPOS. You don’t need expensive hardware either. EPOS has become a commodity now, and thanks to this, EPOS solutions have become easily available.