An EPOS system can significantly reduce the number of business hours spent on administrative tasks. In the days before EPOS systems, some businesses used to take days to carry out lengthy stock takes and the end of day cash-up was often a headache when till receipts didn’t tally and takings couldn’t be properly measured.
From clothing retailers, to book stores and fast food outlets to pharmacies, EPOS systems offer benefits far beyond those of a cash register. Food retailers often operate with tight stock control conditions and waste can be a problem if stock isn’t monitored effectively. Moreover, trends and tastes are more easily identified by using an EPOS system, not only for food retailers, but also for clothing, footwear and accessories retailers too.
An EPOS system can save businesses a lot of time and effort in handling these and other important aspects, leaving you and your staff free to be more productive in making your business a success.
Top 5 Reasons you need an EPOS System
Maintaining control over your business as a whole is the key feature of an EPOS system. But under the umbrella of ‘control’ are several important reasons as to why you need to have an EPOS system in place for your business.
1. One Package, Many Tools
If you want the best possible reason for getting an EPOS system, whilst justifying the cost, then consider the fact that an EPOS system houses several different tools in one package. If you were thinking of buying separate systems for employee payroll/clock information, or a particular system of stock control, an EPOS system can perform all of these tasks, along with many others.
2. Maximize Staff Productivity
This is possibly one of the largest areas of inefficiency within a business. For example, the constant checking, rechecking and endless cash reconciliation when using cash registers means that staff are often engaged in non-productive tasks for unacceptable amounts of time. EPOS systems allow your staff to spend their time where it’s vital to the success of your business, i.e. looking after your customers, and not bogged down in figures.
3. Easily Identify Stock Deficiencies
Keeping track of stock levels is an area where you cannot afford to take your eye off the ball. EPOS will integrate your sales with your stock levels, so that each time you make a sale, the system requests a replacement to add to your current stock. With this tool you can also monitor date sensitive stock; this is particularly relevant to food retailers, restaurants and other eating establishments. Older stock is highlighted and pushed, or knocked-down in price to keep waste to a minimum and your profit margins healthy.
4. Keep Track of Offers and Promotions
Whether it’s a 2 for 1, coupon, or percentage off promotion, today’s retailer depend on such promotions for attracting customers through their doors. Because these types of promotions come and go so quickly, it’s difficult to pin down exactly how successful they were. Regular cash registers can’t cope with pinpointing such detail, but this system can give you the information you need about any of your promotions, making it easier for you to know exactly which ones to run, and at what times of year they perform best.
5. Consistency Across All Locations and Premises
It doesn’t look good if a customer walks into your store and tells you that item ‘X’ is cheaper in this location than in the location of your other store. The best way to ensure you have optimum consistency throughout all of your business locations is to use an EPOS system. As well as ensuring uniformity in your pricing, you will also be able to reassure customers that you can source an out of stock item from another one of your locations.
An EPOS system is a viable asset to your business and to your staff’s productivity. It allows you to monitor aspects of your business that are difficult and costly to achieve using traditional methods; and it allows you to keep control of things when you are absent.
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Oliver Ortiz works for Expert Market, a division of MVF Global. Expert Market is a B2B UK based provider of a wide variety of business related equipment. Our services include helping your business acquire small retail EPOS systems. Follow us on Twitter and connect with us on Facebook.