What Is an ePOS System?
An ePOS system or Electronic Point of Sale system, in its most basic function, takes over the tasks of a cash register - counting, registering transactions, printing receipts.
However, it can be also part of a bigger system within the business - integrating back office, recording sales, managing relationships with customers, ordering and much more. Nowadays, more and more stores prefer retail ePOS systems to optimise their day-to-day operations.
Depending on the business, ePOS systems use a combination of hardware, software and peripherals - barcode scanners, customer displays, printers, touch screens, weighing scales, etc. ePOS systems will use a variety of hardware, software and peripheral solutions.
When it comes to operating systems, there is variety to choose from. Surprisingly, MS-DOS is still in use, but you can also find POS systems running on Unix, Linux and Windows as well as cloud solutions working on mobile devices. These solutions are known as mPOS systems (mobile Point of Sale).
If you are looking for an ePOS system that will best match your business needs and will improve your business' performance, you have reached the right place. Market Inspector is here to help you in your decision making process. Simply fill in the contact form, stating your preferences, and we will connect you with our qualified suppliers. They will provide you with free, no-obligation quotes.
In the lines below you can get informed about the advantages of POS systems and some further considerations to take into account when choose the right system for your business.
Different Types of ePOS Systems
What are the different types of POS systems? The very first were POS systems, which took over the basic functionality of cash registers. Later, ePOS systems, together with POS software, emerged and replaced mechanical POS system.
With the advancement of technology, software based POS systems emerged, which offered more functions than their predecessors. As mentioned above, wireless or cloud based POS Systems are becoming more common, bringing even more functions and convenience to businesses and its customers.
With an ePOS system it is easier to track and categorise your inventory, therefore making it easier to keep track of what is missing, what needs to be ordered, and what items are redundant. PointOne ePOS system is one such solution that provides many benefits to various businesses.
An ePOS system will make checkouts faster, make processing of transactions easier and make payments will cards more convenient - thereby improving the whole point of sale. This will lead to higher customer satisfaction.
You will gain access to sales data – reports, therefore making it easier to analyse pricing strategies, sales trends, profits and costs - creating business opportunities that support long term growth.
The possibility to see purchasing history, sales trends and customer preferences will give the ability to businesses to improve their CRM (customer relationship management) abilities. Customer satisfaction will be also improved by faster checkouts as mentioned above.
These advantages lead to improved overall efficiency. Faster checkouts, inventory tracking, better reports lead to cutting time spent on these tasks, more satisfied customers, higher sales and lower costs.
History of ePOS Systems
The history goes back to the first cash register created back in 19th century in a saloon. Because of corrupted employees, James Ritty, the owner of the business, decided to create a machine that would make a noise whenever an employee is reaching for cash and that way notifying management.
This cash register was called Ritty’s Incorruptible Cashier and was patented. However, Ritty later sold his rights and company National Manufacturing Company came to existence. Company was again sold and renamed to National Cash Register Company.
One issue was taken care of at this time and that was record of transactions or as we now know it as receipts. These registers were now able to print receipts.
In 1970s Electronic Cash Registers, ECRs, were introduced and POS systems were provided by IBM.
There was basic inventory function and the possibility to print this report. However, ECRs had problems with functionality and were therefore slow to be implemented in businesses.
With the advancement in technology and computers, POS software start to emerge and POS systems got better with the technology. There was effort to standardise POS systems, however this effort did not yield any success.
POS systems continue to evolve and new trends such as mobile POS systems and POS systems using cloud computing are emerging and further changing how businesses operate.
How To Choose the Right ePOS System ?
Knowing the benefits of ePOS systems, how to choose the right one for your business? What are the things to be considered before purchasing?
The first thing to consider is what kind of business are you in and then look for a solution that matches your needs. Some solutions may be usable for any kind of business, others may be more specialised - offering functions for specific actions.
There are software solutions that can be used in grocery stores, restaurants, bars, spas, jewellery stores, salons, resale store, etc. For example, restaurants, takeaways and bars are most suited for Integer ePOS systems, which specialise in these business sectors.
The second thing to consider is the price. Mobile POS systems and cloud systems might be cheaper and usually work on a monthly or annual payment.
However traditional ePOS systems tend to cost more but include a supplementary service agreement as well as complementing software, which might be more suitable for larger businesses.
Hardware should be also considered. Are you able to choose which hardware you want to use or is it given before the purchase? Some companies offer basic hardware for cheaper prices and better hardware for more expensive orders. Do you need a barcode scanner? Weighing scale? Touch screen? Those are things to consider.
Another aspect of ePOS solutions that is important to think about is after sales service.
- Does the company offer training for your staff?
- Do they offer on-site technicians?
- Is their service available 24/7?
- Do you need to pay for this kind of service or it is offered for free?
EPOS Solutions for Your Business
Mobile POS systems will offer more choice, as software - apps, can be downloaded, purchased and operated independently from the device. There is more freedom in choosing the app and the device. The choice of hardware or device in this case, is up to the business owner – can range from personal computers through tablets to smartphones.
Today there is a wide variety of ePOS software and hardware. It is a good idea to look for feedback for given ePOS solution. It is also possible to try the chosen ePOS solution demo and see if it the right one for you.
If you are curious and interested in getting quotes for the product of your choice, you can fill in the contact form at the top of the page and we will get in touch with you as soon as possible. We will connect you with our qualified suppliers, who will provide you with free, no-obligation quotes on the requested product. We hope to make your research process easier and convenient!