Advantages Of Cloud Based EPOS System

There are new features launched with technology advancement. It can be a real advantage having a cloud based epos system as it has many features to offer to your business. We mention a few advantages of having a cloud based point of sale system to increase your productivity and features.

Flexibility

A cloud based point of sale can be accessed from anywhere and any device with the help of a browser. You can access your data from a smartphone or from a tablet. Managing your business doesn’t require you need to be present in your business location.

Mobility

You can not only manage your business from anywhere but also cloud based point of sale allows you to move around in the store. As it can be used from a portable device it allows seller to move around with the equipment. It is very practical as vendors can have the product’s information quickly available. Moreover it can be very helpful feature in restaurants as it can allow waitresses to send the orders to the kitchen printer automatically and allows to take payment’ from the customers tables. Having a mobile POS improves the customer service.

Real Time Processing

Information is saved by the cloud based POS system instantly as soon as an item is sold. You can always have updated sales reports, stocks and customer information.

Secure Backup

In cloud based point of sale system data is always saved online in the cloud server which makes the system safer. As everything is done automatically there is no need to worry about the backing up of data on a regular basis.

No High Up-Front Costs

A cloud based epos system can be installed on your existing device which can save you from buying expensive hardware such as a computer.

Personalized POS System

A cloud based epos system has plenty of options and you can choose which features you are required for your type of business. Some of the features like marketing, accounting and loyalty programs can be adapted to your needs. You might need a management option for controlling your employees. Also, it could be advantageous having a powerful loyalty program that could advertise your business.

Have the Latest Trend

As technology is getting updated with pace and you don’t want to have your equipment obsolete a few weeks of possession. A cloud based point of sale system can usually be updated easily and for free of cost. Newer version will always have the latest trends and the best available tools.

Keep track of your Performance

A cloud based point of sale can be upgraded easily and it can easily track your growth and business needs. Additional product lines, features or stores can be added to the software. You also need to check a few points such as transferring of data from your existing epos system. A powerful epos software that can run without internet and synchronize when you are back online. Never be in a situation where you can’t receive any payments.

Benefits Of Having EPOS System For Your Business

Every business is investing in EPOS system to know gain control over the business and also grow in profits. The popularity of point of sales is on rise and there a few advantages mentioned below for having an epos in your business.

1. Sales Reports

A point of sale can give you an overall view of your business. It also keeps the record of its cash flows and data about a product range can be found easily. It has the ability to save your financial information, inventory and sales status. Based on the information you can plan the revenue that can be statistically expected in future.

2. Adapt the Product Offers

Reports help you to identify which product categories are the most and the least profitable. You can know which items are not performing well and can give an opportunity to develop sales strategy accordingly. Therefore you can adapt items for your store or in menu. The system automatically analyzes customer’s buying behavior. The epos automatically provide you with the in depth analysis about customer’s buying behavior and saves a lot of money without having to use costly hours of research work.

3. Save Time

Another benefit of point of sale keeps tracking on your delivery on all goods going out of your store. An automatic update with exact information on all items that are left over in your stock. The point of sale it-self submits orders helps to the suppliers when the inventory is almost empty. When a customer wants information about a specific product, the seller can check within no time. Service can be improved with the reducing waiting time. epos system can automatically define margin and calculate taxes. Tasks can be made easier and faster for your employees.

4. Reduce Mistakes

When price is changed for a product it will automatically be updated in the entire system and prices will be constant throughout the entire process. It helps the company by ensuring that the prices always matches the given customer price and avoid dissatisfied clients.

5. Loyalty Program

Customer information can be stored and allows you to find out what products those are favorite for each customer. This feature can be really helpful when you adapt offers and promotions for each of your customers. They will feel special when they are treated well and can create a purchase intention.

6. Employee Management

EPOS software can help you to check the additional sales done by each employee. However, it can be a managerial tool and also as a reward criteria. It helps motivating your employees and more effectively. Sales will increase and customers are satisfied with the service. Employees can also check their own sales statistics helping to become more aware of his or her personal objectives. An epos system makes your business more cost focused giving a greater insight into revenues. It helps make you save time, improve relation with the customer and uses previously recorded data.

Importance Of EPOS Data in Knowing Your Customers

Many retail businesses rely on their returning customers to remain profitable. How to use your EPOS data and epos software help grow your business.

Ability to collect vast amount of data, retailers are better able to connect with their customers to form a long term relationships than ever before. Customer data is vital in retail industry to ensure resources are not wasted. Promotions and sales are cost effective and if marketing efforts are successful and their customers always come back for more.

Regardless of the size of the business loyal and returning customers are the key to growth and expansion of the business. To achieve so you’ll need to have as much customer data as possible. Here is how you can have the customer data available to your business for good use in future.

Customer value recognition

When a customer returns back you ought to recall more than just their name. You need to recognize the importance of customer to the business as accurately and as quickly as possible and you should be able to use this information for every possible interaction. You need instant access to information such as past purchases or information on late payments of your customer whether your customer meets you face-to-face or over the phone. If the data reveals that they are a new customer then they are the perfect customer for an up-sell and if they are loyal customer they will be more suitable for retention initiatives. It is best to avoid customers with payment history. Before engaging with any of your customer you need to know your potential customer.

Promotions

Not all of your customers would like to receive information on your latest promotions and offers. You should look to your data to help you better target loyal customers and not by wasting your time and theirs. By using your epos software you can see what certain customers have bought in the past, the time they have bought in the year and the quantity they have bought. You can have a better idea of what they might want to hear about in the future. By saving important information on customer details on your database will enable you to locate information instantly and get in touch with a click of a button. Targeted marketing promotions not only make it easy but also far less time-consuming.

Protect profit margins

The best way to attract customers is to offer them with the best deals and discounts that they cannot simply resist. You also need to protect your profit margins by carefully monitoring the number of discounts you can afford to offer with the help of epos system. Protecting your margins should be given highest priority and fortunately your point of sale can enable you to control costs diligently by making smart marketing moves. 

epos helps you to determine how much you sell each product and thus helping you with the competitive pricing to help trim margins. Multi-tier discounting by offering larger discounts on a particular group of products and lower discounts on others can also help in that. BY doing so you are making up by what you are giving away. Data can be often used in the improvement of customer service data enables users to do much more than that. 

EPOS System for Small Retail Business

Now-a-days managing a retail business can be a challenge. It has become a difficult road to success for the retailers with low margins, stiff competition and rise of the Ecommerce. Everyone think retailers take the advantage to them to encourage success.

A recent study shows that 64% of single store retailers still don’t have an EPOS System.

There are many advantages of EPOS System which include the automation of such tedious manual processes as:

•         Employee management
•          Checkout
•         Customer management (CRM)
•          Inventory management
•          Sales reporting and analytics                                                                                                                         

Managers and operators free up themselves with the EPOS System features and focus on ensuring their employees to deliver great service and solidifying positive customer experiences. 64% of single store retailers don’t have EPOS. It can save retailers 10% annually.

• Opening up Shop: Employee management features help to staff schedule online and employees can trade shifts in real time. 85% customers stop shopping at store if understaffed.

• Handling Long Lines: Transactions can be completed from anywhere in the store using an iPad. 82% of customers likely to stop shopping after experiencing a long wait.

•  Engaging Customers: Using the customer loyalty feature notifies your customers via emails. 66% of customers stop shopping at store if they are not recognized as loyal.

• Counting Inventory: Inventory management feature notifies running low on top selling items and put an order. 83% of customers stop shopping if the items are out of stock at store.

• Tallying up Sales: Monthly sales totals can be checked on iPad. 76% of small retailers look for sales reporting and analytics as a basic feature of EPOS System.