Electronic Point of Sale (EPOS) offers innumerable benefits for both small-scale, newly-established businesses and Enterprise Point of Saleslarge-scale enterprises alike. For businesses, investing in a fully automated Enterprise Resource Planning software (EPOS) and cash drawer is the first step towards ensuring maximum customer satisfaction and retention.

EPOS refers to integrated hardware and software that can easily organize, analyze and control various functions of your business. This tool helps you manage cash transactions, orders and inventory levels as well as backend reporting features and staff monitoring functions.

With the help of a sophisticated EPOS, a manager can gather, review and monitor all information relating to best-selling items, star performers, peak sales volumes and times, best-performing sales channels and any other business functions. Improving efficiency and generating new revenue streams also allow businesses to grow and thrive by providing them with a distinct, competitive advantage.

Benefits of an Electronic Point of Sale System

A multi-purpose electronic point of sale software package offers several advantages to small-scale businesses compared to traditional cash registers. Mobile and tablet compatibility allows business owners to view and monitor transaction data from any remote location, while a web-based portal feature allows your staff to receive and process orders, thereby reducing overall wait time. Here are 5 other key benefits an EPOS offers:

Accuracy: The biggest advantage of EPOS software is financial accuracy, especially when it comes to charging a customer. Traditional POS systems require staff to accurately calculate customer charges, often resulting in errors and double entries. With an EPOS system, these issues are resolved thanks to efficient data processing.

  • Accountability: Enterprise managers need to accurately record and monitor staff activity. Pinpointing staff involved in any particular transaction allows them to determine staff efficiency or inefficiency. This plays an integral role in accountability and appraisal, such as sales-related bonuses and voided transactions reports.
  • Efficient: Full-automation improves the speed and overall efficiency of an organization. This will help your business serve all of your customer’s better while also enhancing the customer’s overall experience and expanding your customer-base. It also redirects staff productivity towards other revenue maximizing activities
  • Inventory Management: Modern EPOS software offers real-time reporting on all inventory levels and reorder quantities. Businesses now have the ability to quickly review their existing stock levels, identify processes that require more inventories and determine optimal reorder levels. Electronic stock-taking also saves the time and resources and removes all human error from manual stock-counts
  • Reporting: The final advantage of an electronic POS is its ability to generate a wide variety of managerial reports. These reports range from operational and routine transaction data to complex variance analysis. It keeps tabs on your best selling products and provides an accurate account of financial performance.

There are several other benefits EPOS systems offer small-to-midsize enterprises. To learn more on how these systems work, feel free to contact us!