EPOS (Electronic Point of Service)
EPOS is a relatively recent addition to electronic services available for businesses. It can help in the day-to-day running of business. EPOS is a valuable tool for adapting to the modern working place and can help with keeping up with trends. More and more, customers expect a level of service to be offered to them. Those without could be left in the cold. EPOS is a comprehensive record of transactions, the information from which can be used in a variety of ways to improve business running or customer service. It is probably more well-suitrd to certain business sectors than other, particularly retail and hospitality. But there is a place for EPOS in many different businesses, provided you know how to get the best from it.
If you’re curious about what exactly EPOS can do, let’s have a look at some of the key points:
What are the key benefits?
- Can be used to print receipts and vouchers
- Can see what products are being sold and not just what department they are being sold from
- Allows information to be stored in bulk
- Can link to other business terminals
- Can be used to analyse wages and other business outgoings
- Integrated barcode scanners to speed up item processing and reduce customer congestion
- Automated inventory management to let you know when stocks are getting low
What else should I know?
EPOS is a record of the point at which a transaction is made. It can be determined to make an invoice but it has many other potential benefits like; being able to notice trends, tracking and analysing employee wages or providing customer with more payment options.
On top of this, terminals can communicate between one another. You can store customer data within a set period of time to be able to notice trends and make offers tailored to them. The centralised way of working can add to the synergy of a business. All employees can be aware of the same information and collectively make decisions based upon that. The full extent of the good additions has not yet been fully realised.
There are, of course, disadvantages as with any innovation. They are usually fairly expensive to install and they require regular maintenance to keep them in good working order. On top of that, in order to keep ahead of the competition, the hardware needs to be kept on the cutting edge and that could mean having to update, perhaps regularly. And as always, the choice in the market can make it more difficult to make a comprehensive decision.
EPOS appears to be a no-brainer on the surface. It not only gives you a great store of information about your business, but it’s highly-analytically focused allowing business owners to make advanced decisions about how to proceed. But you have to remember that despite this, these systems are expensive and require regular upkeep, so invest if you’re absolutely sure that it can take your business to the next level.