New ePOS Systems
If it is time for your business to incorporate a new ePOS system, there are plenty of options to choose from. First of all, it is important to consider the needs of your business. Based on these needs, you can choose whether to buy an ePOS system and which type, or a mPOS system.
It is also a good idea to compare a couple of ePOS manufacturers. The hardware needed in combination with the chosen POS system is equally important to consider - touch screen, cash drawer, printer and more.
Market Inspector is here to help you in your research process. Fill in the contact form on the right stating your needs and preferences and we will do our best to connect you with the most suitable suppliers. They will provide you with up to four, totally free and no-binding quotes on the product of your choice.
Buying an ePOS system can be a costly matter, which many of the organisations, mainly startups and small businesses, cannot afford. One solution to this problem is a mPOS system, which is a cheaper solution to purchasing an ePOS system.
Some Considerations When Buying an ePOS System
Buying an ePOS system means high upfront costs. Another disadvantage to buying an ePOS system is inflexibility. If the bought ePOS system is not suitable for the business, it is very costly to replace it.
Buying an ePOS system requires research and thorough consideration of what your business needs are.
Buying a cheap POS system can result in more costs, as the cheap POS system might not be suitable for the business and its replacing will cost valuable time and finances.
Inflexibility can also be seen also in terms of software and hardware updates. Upgrades can be expensive, therefore it might be hard for businesses updating their own POS system. This might also include security updates, which are crucial to any business.
Benefits of Renting an ePOS System
An alternative solution to buying an ePOS system is renting or leasing one. Lower upfront costs are the biggest advantage of renting, and suppliers may offer additional services to customers that choose to rent their systems.
There are several benefits to renting an ePOS system that encompass more than just the financial and servicing aspects:
Being up to date. It is possible to upgrade the ePOS system and to benefit from the latest updates and technology. It is predicted, that by 2020 70% of British consumers will be using Click & Collect when purchasing takeaway food and hot beverages. Keeping up to date with consumer developments like this will be a crucial way to stay competitive in the coming years.
Flexibility. If business needs are changing, having a rented ePOS system will give businesses the flexibility of changing their ePOS system and avoid unnecessary costs. This can help businesses quickly meet market changes and meet new customer needs.
Scalability. Renting an ePOS system will allow businesses to quickly and easily scale their operations. Most suppliers will be able to offer flexible contracts that allow customers to add new accessories, features and training.
Experimenting with different systems allows you to discover which features work well with your business and which do not. Some businesses, for example, may benefit from having physical keyboards connected to their system, while others may have a better experience with touch screens ePOS systems.
Payment amount. It is possible to tailor the monthly payments to the business needs and capabilities. It gives the opportunity to use cash more effectively.
Tax. Rentals are tax deductible, which adds to its financial benefits.
Finding the perfect fit. It is easier and cheaper with rentals to find the best cash register, the best hardware and the best ePOS system for your business.
It is possible to exchange the rented ePOS system for different type, if it does not suit the business needs.
Lease to own. Some suppliers of ePOS systems provide the possibility for customers to lease a system for a set period of time with the prospect of purchasing the system at the end of the lease, at a reduced price.
This can be a suitable solution for businesses that are looking to make a long term investment in an ePOS system but either cannot afford it or would like to familiarize themselves with a particular system first.
ePOS systems for any business. It is possible to rent ePOS systems (or only cash registers) specialised for restaurants, pubs, retailers, spas, hotels and many more.
Service and Price
The service and price of ePOS systems offered varies depending on the ePOS supplier and the products needed. Some companies offer services such as customer support, on site installation, free software updates, security updates and many more.
It is possible to find an ePOS system rental for as little as £20 per week. However, the price depends on the needed ePOS solutions, what hardware and software is needed and the company. There are different bundles/packages to choose from, which include different combinations of software, terminals, printers and more. It is possible to rent the complete ePOS system.
Cash Registers Rentals
Some companies also offer renting of one or more cash registers. It is possible to rent a cash register for a short period of time, which is useful for companies organizing an one time event, if they don’t need the cash register afterwards.
Short term leases are also useful for companies that need more cash registers, but where the upfront costs are too high to consider buying one.
It is important to consider your business needs and to research your options before either purchasing or leasing. There are different bundles that suit different businesses. Choosing the right ePOS system might save you money and time.
Buying an ePOS system has certain advantages, however, it also has some disadvantages such as high upfront costs and no flexibility.
The way to avoid these disadvantages is to do a thorough research of your possibilities, and to lease or rent your mPOS or ePOS system instead of buying it.
Are You Interested in Getting an ePOS System?
If you want to know more about POS systems, you can find more information on our website, such as what POS/mPOS systems are used for, and what advantages and disadvantages you get with POS systems, mPOS systems and cash registers.
Read more: Advantages of ePOS
If you need help choosing an ePOS system that matches your business’ needs, you can receive up to four free quotes from us. Just fill out the contact form and we will send you quotes with no strings attached.