Electronic point of sales (EPOS) is the latest technological development that helps in simultaneous recording of sales through multiple sales channels. It also helps in innovative stock control by keeping track of the inventory that is sold out and the inventory still in stock. It also follows an automatic reorder level for the inventory and notifies the suppliers when the stock level lowers and more is needed.
Electronic point of sales is an effective measure for controlling your sales records. The system, comprising both of front and back office elements, integrates external and internal hardware to support the overall system. Moreover, the good news is that this system can be used within any sector at all- be it the hospital sector, the transport sector, the leisure sector or the general day to day grocery stores.
What User Friendly Features Exist In The EPOS?
The EPOS has made lives very easy since its initiation; there are a number of sophisticated features that are used by retail outlets nowadays and have enabled the maximum benefit to be availed from the EPOS. Some of them include:
- Order making is much more efficient and quicker with EPOS- suppliers can be accessed easily as soon as inventory levels hit low levels and the stores don’t need to turn away customers due to lack of availability of stock. Moreover, effective inventory management can be attained through EPOS as stock levels are maintained only at desired levels- nothing too much, nothing too less. This enables a better customer service and an increasing customer loyalty which translates into higher business in the long run.
- Accessing customers become easy with EPOS- the system allows you to customize customer database and send out customized messages too. You can now run your own loyalty schemes and promotional branding by sending out messages to your key account customers. You can also mark customers as key accounts and get acquainted with their preferences; this will not only make your customers feel special, it will also allow you to conduct excellent primary research by getting to know what your big customers prefer the most. You can then run promotional campaigns centred around the same and increase the profitability of your company
- Managing specific deposits: The EPOS also allows you to customize your accounts receivables by dividing them into various categories. You can now choose to account for different deposits, special orders as well as back orders in the most effective way possible- as never before.
- EPOS software also makes time management easier and saves time as well- the results are more accurate and more reliable and hence need not be calculated again and again, thus saving on time. Moreover, it allows the staff to focus their attention on more important analyses rather than calculating numbers again and again
- A good EPOS would always allow you to maintain a margin over your sales. The pricing is looked after by EPOS and is adjusted according to the specifications that you give it. EPOS also allows you to make changes in prices on the spot thus allowing easy price variations that can be adjusted to suit each customer’s individual needs. Moreover, the utility of EPOS is maximized when it comes to product evaluation; you can trace out the underperforming products and make strategies to counter them.
- EPOS is your door to opening customer loyalties. It helps in increasing awareness of your product among the masses and tempts customers to purchase your products spontaneously. It is an easy channel to get in touch with customers by establishing different customer databases and catering to their needs accordingly.
- EPOS also automatically checks IDs of the customers. This helps in restraining from selling to underage persons and validates a sale by checking the customer IDs.
- Perhaps the greatest benefit that EPOS offers is that it has an element of self service. This reduces unnecessary traffic at the checkouts of the stores and makes a worthwhile shopping experience. The staff can also be delegated to other work and can be more involved in customer services. Thus, more customers can be managed with lesser staff if you have EPOS.
- The comprehensive reporting tool of the EPOS allows easy annual reporting and cross checking with internal accounts. Giving out real time data, the EPOS can be trusted with its numbers.
- Integrating the hardware and the software- EPOS are taken care of both, hardware and software and so you need not invest separately in these and can carry out with the business processes as you will.
So, if you’re looking for a good management business, EPOS software will be a must because of the benefits it provides and because of the level of organization it helps you achieve.
The author is a proficient writer on the subject of EPOS software and provides expert opinion on the matter when businesses are concerned.