Why Should I Use an EPOS system
Switching from a traditional, hardware cash register to a computerised point of sale or EPoS system for your business can be intimidating; but there are some tremendous benefits for your business. Read on, and learn how you can be more profitable:
More than a cash register
A POS software system doesn't just replace your cash register. All a cash register does is show your cash flow for the day. It can't provide any insight into profit, inventory or best selling products. An EPOS cash register, on the other hand, can instantly tell you how much money you have left in your cash drawer, and how much of that money is profit. It can also tell you how many of a specific product were sold today, and how many you have left on the shelf. It can even warn you to order more items when stocks get low
By switching to a computerised point of sale system, the average small business (a company doing £500,000 per year in business) typically reduces theft by 2.5% - that's £12,500! How? Your employees watch inventory much more carefully, because they know that stock is being monitored. Everyone is more alert, especially if you integrate your CCTV system into the POS also
Less inventory shrinkage
An EPOS system lets you watch for obsolete and broken inventory much more carefully. And you can have a much more accurate count with which to compare shelf inventory. These tools typically reduce shrinkage by another 2.5%.
Better managed inventory
With detailed inventory reports, you can manage the flow of inventory much more carefully, ordering products when you see increased sales. You also build up historical data that can help you predict future inventory needs. You don't need 150 snow shovels in the summer, but you may need 500 more fans for your store during the month of August. Don't base your orders on what you think you sell. Base them on what you know you sell.
Watch your margins
By reading your reports you may find that you sell 10,000 batteries that cost 80 pence for 99 pence each and that you sell 100 flashlights that cost £5.50 for £9.99 each. Your inventory reports will help you to stock more products that give you greater profits and fewer products that give you the least amount of profit.
Have happier customers
Computerised point of sale systems, with barcode scanners and other helpful tools, make checkout much, much faster. That means happier customers. Even if you don't use a barcode scanner, a computerised system is faster, because you can enter SKUs that are automatically linked to pricing.
Point of sale systems, due to their more efficient checkout process, can reduce your till or point of sale lane needs. If you had 10 checkout lanes previously, by implementing efficient EPOS terminals you could serve the same number of customers through fewer lanes, reducing setup & running costs, releasing staff from the till area to be more productive in other areas or reducing the need for some extra part-time staff hence reducing wages.
With an EPOS cash register, every item in your store has an associated price. Never again will you have to figure out how much that potted plant sells for, is it £2.99 or £4.99. Your clerks will stop guessing prices, which is usually wrong and not in your favour. It is quite amazing just how their memory of an item fails them when they get a bargain.
Build a customer list
Use POS software to store the name and address of your best customers. Offer loyalty programs to gather this information, then you can use the list to target advertising, or to just get on a first name basis with your most loyal consumers.
Any way you look at it, an EPOS or Point of Sale software-based cash register system will make your business more efficient, more profitable, and a better place for your customers. how can you afford not to switch?