This post first featured in the Modern Retail Guide to Retail Tech February 2019. To read the full ebook click here, or scroll to the end of the page to view on page-turning software. An EPOS system is much more than a payment card reader. When utilised correctly, it can help retailers to run their business more effectively and smoothly. Here are just some of the benefits of using an EPOS system, if you aren’t already doing so.
Accurate reporting with an EPOS system
An EPOS system can accurately collect data in real-time, removing the risk of error which is often associated with data input. By relying on your EPOS system to provide reliable data, sales reports can be generated with ease, helping to highlight sales figures, high-performing stock and profit margins.
Real-time inventory tracking
EPOS systems create the opportunity to track inventory levels across various stores with ease. A number of factors make traditional methods of stock tracking more challenging, including the increasing number of items being returned and the ability to click and collect instore. These can be easily overcome using a system that has the capability to monitor the number of items instore, instantly recording sales, returns and changes to levels of stock.
Cloud-based EPOS system access
Data stored on the cloud can be accessed from any location, meaning you don’t have to be instore to check inventory levels or track sales recorded by your EPOS system. When protected properly, this can give additional security, meaning there is less risk of losing data to system damage or viruses.
Customers seek streamlined, fast checkout experiences, with customer service also playing a large part in making their purchase memorable. EPOS systems can facilitate stock checking on the spot, giving staff the opportunity to ask customers if they found everything they were looking for. With quick access to stock levels, where it can be found, and even organising home delivery if the item is not instore, this can help retailers to upsell, increase sales and impress customers.
The benefits of using an EPOS system to simplify business operations, log data and improve customers’ experiences are endless. This makes it more important than ever before to understand the full functionality of your EPOS system and exactly how you can make the most of it.
Read the full Modern Retail Guide to Retail Tech February 2019 below.
Holly brings a wealth of experience in both print and digital publishing. As Modern Retail’s Content Editor, Holly is passionate about helping independent retailers to thrive in today’s ever-changing market.