An Electronic point of sale system, also known as an EPOS, is software that can be installed on multiple devices. You can install a point of scale system on devices like tablets, mobile phones, and laptops. EPOS is compatible with all these devices. The EPOS system can speed up the check-out of the customers at the billing counter. POS billing machine removes all the redundancies in the traditional way of bookkeeping and makes the entire process efficient.
EPOS system uses cloud-based software that updates every transaction at a faster rate. The cloud-based technology also helps in flexible integrations such as accounting software, increased security, and enhanced reporting when viewing your sales data.
If you own a small business and want to make technological upgrades to your operations, then getting an EPOS system or a POS payment machine is one of the best options. They not only make your operations efficient, but they also add multiple functionalities to your business. This will make a customer’s life easier and leave your customer more satisfied. In this article, we will cover everything related to EPOS systems that you need to know.
How does the EPOS system work?
Once you install your POS software on your POS billing machine or POS payment machine, the EPOS system will then facilitate and record all your transactions. A POS payment gateway is a much higher upgrade than the traditional methods as it is capable of creating detailed reports. It will help you in analyzing the reports in the future and in understanding how to optimize our products.
As the EPOS system is backed up on the cloud, all your data can be accessed from anywhere and everywhere. This helps a lot if you have to travel a lot or have to juggle between 2-3 businesses.
The POS machine providers provide the hardware compatible with the EPOS system. Hardware such as touch screens (including iPads and Android tablets), cash drawers, printers, barcode scanners, and card readers are compatible with EPOS and can be procured from a POS machine provider.
Benefits of Using EPOS system in Your Business
1. Managing Accounts
Analyzing reports, balancing books, and managing accounts at the end of every day can be a very frustrating affair. Installing a system that organizes data in a structured manner will help you in reducing effort in managing accounts.
EPOS systems can sync the entire database with the accounting software and hence, will save time and generate more accurate reports. This will prevent useful data from getting leaked due to negligence or human error. EPOS system can efficiently take out the stress involved in accounting and will help in saving a lot of time for some strategic planning. Hence, this will help the small businesses a lot.
2. Increased Mobility
EPOS system is compatible with mobile devices and hence, it facilitates doing sales while on the move. This has been a critical factor in changing the face of eCommerce where the payments can now be collected at a customer’s door by using a POS payment machine and a POS payment gateway.
3. Saves time
Once you procure the required hardware and software from the POS machine provider, you can set up the entire system in a matter of minutes. Your staff can now sell more products by saving time on unnecessary and redundant work. The point of sale system will take care of everything. The increase in the speed of execution not only saves effort at your end but also saves a lot of time for the customer. This will increase the number of loyal customers as customers always like going to stores that are well managed and respect their time.
4. Inventory Management
EPOS systems are capable of handling inventory management too. If you have procured the EPOS system from a good POS machine provider, then the inventory management system is in-built in the software. You will be able to check stock levels in real-time, reconcile stock vs. actual stock, update and add new stock and include stock variations.
This gives you a better picture of the entire operation and makes you better equipped to make the right decisions about the inventory. Some EPOS systems can even streamline the entire stock management by ordering new stock automatically by analyzing the inventory levels.
Conclusion
Hence, EPOS systems are more versatile than you think they are and they can make a huge difference in the way you do your business.
Rajat Sharma Is a blogger