Top 5 ePOS Benefits
Integrating an ePOS System
Electronic Point of Sale systems represent the finish line of the purchasing process. Every time we buy something, by paying for a product or a service, we likely have to deal with ePOS systems.
This is the result of modern trends development in the Point of Sale field, moving towards more and more technological, efficient and fast all-in-one till systems. Nevertheless, few (mostly small) businesses still stand by old cash registers.
The basic functions of ePOS systems bring benefits to companies when it comes to operating with front-office and back-office. Most dazzlingly, an ePOS system, together with its toolkit, can literally revolutionise a business performance.
It is not just about figures registering, payments taking and receipts printing. An electronic Point of Sale is essential to:
- Manage the inventory
- Analyse internal data
- Rise customer satisfaction
- Develop loyalty programs
- Save time and money
When incorporating hardware, POS software and peripherals effectively the outcome is the speeding up of daily sales transactions, items monitoring and customer relationship building.
It goes without saying so far that an ePOS system can easily replace the human activity by implementing fast, automatic and precise business operations.
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Benefits of ePOS Systems
1. Inventory Management
Very easily, when an item is scanned and purchased, the database is updated in real time. The stock volume can be tracked directly from the ePOS system itself or from every electronic device synchronised with it, such as a smartphones, tablets or computers.
In this way, the monitoring of products turnover facilitates the process when the order of a certain type of goods need to be renewed. In addition, according to the data provided by the ePOS system, it is possible to elaborate a plan for the arrangements of goods within the store.
In terms of marketing, checking the stock performance and the frequency with which specific kinds of items are sold is fundamental to determine the trends of consumption. This leads to in-store spaces optimisation and, eventually, to cost-cutting measures.
Read more: The Best ePOS Systems
2. Data Analysis
As mentioned above, ePOS systems record all the sales data. The related information are usually supplied in the form of reports, graphs and charts. Data analysis mostly concern the items purchased but also financial flows.
Taxes rates and income levels are calculated automatically and saved in the system. Moreover, modern ePOS systems usually work with cloud-based software, so all the information is stored and traceable on a daily, weekly, monthly and yearly basis.
Using POS software preclude the need of the Internet. However, some POS software ensure temporary data backups and continuous functioning of the ePOS system even when the connection shuts down.
Read more: ePOS Software
3. Customer Satisfaction Improvement
Waiting time is what annoys customers the most. For this reason, ePOS systems run in order to make the buying process faster and to limit the queue in front of the ePOS terminals.
Taking payment transactions now require few seconds, as well as scanning each product. It was verified and confirmed that the acceleration of this procedure turns out to be a key factor when dealing with customer satisfaction.
Not only, clients often ask the store staff about items availability. It is time consuming to go and check in the back and it bothers customers. In this cases, ePOS systems provide direct information concerning the stock level of every type of good without wasting time. Better yet, if the ePOS system is portable, like mobile Point of Sale systems.
Read more: mPOS Systems
4. Loyalty Programs Development
Still on the subject of consumer trends, customised loyalty programs can be taken into account. Normally, an ePOS system collects data about all the clients taking part to the program.
In the first instance, when the loyalty card is created, personal information are gathered (sex, age, status, job, nationality) in the ePOS system. In this way, when a client makes a purchase, it is possible to determine what her/his tendences in terms of shopping are.
At this purpose, thanks to the data contained in the ePOS system, tailored discounts and promotions can be designed for every customer according to its specific habits and tastes.
5. Time and Money Saving
It is evident that all the functions performed by the ePOS system greatly benefit the business. By carrying out tasks that do not require human resources, the company can save time and money.
Every feature listed above is automatically fulfilled by the ePOS system. There is no need of teaching or training the staff to this end.
This means significant cost-cutting capacities, giving the opportunity to invest anywhere else the amount of money saved. It has become clear that implementing an ePOS system can just guarantee company growth and business performance improvement.
Read more: Advantages of ePOS
For further information about ePOS systems, please fill in the form. Your request will be matched with our suppliers and you will receive up to 4 free customised quotes. You will be assisted in the selection of the best ePOS system for your business.