How do EPOS systems work?

 

Buying both EPOS software and hardware from one supplier ensures compatibility. This requires no extra integration and reduces your costs. However, chances are the system does not meet your expectations. Then, you have to throw everything away and start all over again as these hardware/software are mostly compatible with those of the same brand only.

How do EPOS systems work?




An EPOS system is like a cash till/ cash register that is connected to a computer.

Basically, the EPOS system reads the product barcode via a barcode scanner and calculates the amount that the customer has to pay. This provides accurate pricing information while offers a faster service to buyers.

At the same time, the EPOS software records sales, update stock levels and customer data in the backend of the seller. Later, the store owner can extract different types of reports anytime. These reports reflect the real business performance and assist in decision-making.

Advantages and disadvantages of an EPOS system

EPOS Advantages

Compared to the traditional POS, an EPOS system has a variety of benefits, especially in long-term:

For customers:

Ensure correct product pricing and information on multiple sales channels;

Speed up order processing and transactions;

Allow customers to use promotions and discounts both online and offline;

Deliver smooth and convenient shopping experience via multiple payments and shipping methods.

For store owners:

Centralize business operations and manage multiple sales channels from one place;

Make better, more accurate inventory forecasts;

Keep track of business performance to provide insightful reports;

Reduce time and mistakes in manual processes;

Enable correct, instant and easy data update;

Set tier staff permission to reduce potential employee theft.

EPOS disadvantages

The only disadvantage to an EPOS system over a traditional POS till system is the cost – and in particular the up-front cost, which can be especially off-putting for smaller businesses.

Prices for a basic EPOS system start at around £1,000. An industry-specific system, with extensive back office features, comes in closer to £1,500. For an advanced system, with multiple terminals, it’s not uncommon to pay in excess of £3,000.

5 Different Types of EPOS System

Retail EPOS System

 

The retail EPOS system is suited for businesses like the supermarket, grocery stores, garden center, pharmacy, hardware store, general store and more.

Hospitality EPOS System

 

The hospitality EPOS system is best suited for independent hospitality business and multi-international chains and franchises like restaurants, cafe shops, hotels, pubs and bars, nightclubs, fast food centers,  and many more.

Fashion EPOS System

 

The fashion EPOS system is best suited for boutique clothing stores, shoe shops, fabric stores, suit stores and many more.

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