The EPOS (Electronic Point Of Sale) system is a way to allow customers to pay for services or goods. It assists businesses in managing their business better and enhances customers experience. By using an electronic POS system, businesses can quickly process sales and keep track of them. It collects information and creates reports on sales and product.
It lets you monitor and track the performance of your brand from a safe location. It is also user-friendly which means you could use the system within a couple of minutes of instruction. It can be thought of as like a traditional cash register, but more sophisticated, with improved performance, reporting and the ease of use.
What is an EPOS system function?
An EPOS System is an electronic money register that is connected to computers. It basically reads the barcode of the item using the scanning device and determines the amount customers must pay. EPOS may be able to allow data entry using various devices, including keyboards, touchscreen monitors as well as scan barcodes. This gives accurate information about pricing and provides faster service for customers.
EPOS software typically requires a licence to run on a specific system that is operating in the cloud-based on demand. This is based on the Software-as-a-service (SaaS) model where a subscription will allow a business to fully equip their EPOS systems with everything they need to process payments. A majority of subscriptions will provide routine maintenance, software upgrades and continuous tech support.
As a retailer, choosing to use an EPOS is a major decision , but there are many tangible benefits that can remove some of the anxiety and stress out of the day-to-day running of your company.
What are the benefits to having an EPOS?
- Reduces human error
- It gives you greater control over pricing
- Faster transaction processing (and less queues)
- Collection of information and reports
- Controls promotions, discounts and loyalty programs
- Offers you a view of the stock levels and inventory levels
If you're a company and are still making payments manually and you don't have regular visibility of your cash flow and cash flow, a business cash advance could help you make investments in systems such as EPOS to take your business to a higher level.
