Many businesses spend hours manually managing stock and organising accounts each week, unaware that their entire front of house and back office operations could be streamlined with just one simple change.
Electronic Point of Sale (EPOS) technology has the power to transform retail processes, interlinking everything from customer transactions to marketing initiatives. With both hardware and software options, there’s a solution to suit everyone that offers much more than somewhere to simply stash the cash!
If you’re not yet convinced whether an upgrade would be right for your business, keep reading as we share some top benefits of EPOS systems and what each could mean for you.
1. Save time
Time is money when it comes to business. Regardless of what industry you operate in, every second can make the difference between money gained and money lost. EPOS systems have been designed to automate tasks and integrate with systems to improve:
- Queue management – By applying multibuy offers and discounts quickly, overall transaction times can be greatly reduced.
- Staff training – Intuitive and user-friendly interfaces are easy to get to grips with and allow members of your team to work productively.
- Stock control – Forget employees being stuck in the back with a clipboard keeping track of your inventory. Integrated software streamlines your in-store, online and phone orders to enable automatic stock suggestions and re-ordering.
- Accounts management – Instantly sync data and reduce admin with a system that links to Xero, Sage 50, Sage 200, Pegasus Opera, Advanced Exchequer, Access Dimensions and Greentree.
2. Boost customer satisfaction
As online shopping continues to dominate the retail landscape, customers are becoming increasingly disloyal. The challenge for businesses, therefore, is to come up with new and improved ways of ensuring people keep coming back. An EPOS system can help you to:
- Manage promotions – Give your customers the opportunity to earn points and promotions via loyalty schemes and set up selective customer pricing or discounts.
- Improve customer experience – High performance systems enable you to answer customer queries quickly and manage waiting times with faster transactions.
- Link operations – Integrate online and in-store processes to create a streamlined process and keep track of sales and stock levels.
3. Manage staff performance
Your employees are your first point of contact for customers, so you want to ensure they’re provided with the best tools for the job. EPOS systems can improve staff performance by:
- Reducing admin – Streamlined processes mean there’s no need for someone to manage stock or cash in the till, leaving more time to dedicate to helping customers.
- Incentivising top performers – Sales metrics allow you to see who sold what and when, meaning you can identify top performers and reward those who exceed targets. This encourages competition amongst your workforce, fueling sales growth.
- Identifying gaps – Advanced reporting will help you to spot who’s under-performing and whether training is required.
4. Spot trends
Making small adjustments to your positioning or sales offering to suit demands of the current market is key to the success of any business. The data provided by EPOS systems can help you to:
- Monitor performance – Our Sales-i integration supplies you with CRM and analytics software to review sales and allow you to identify areas requiring improvement.
- Identify sales patterns – See what transactions were made and when to build a picture of the market. This gives you an idea of what resources you’ll need and when, i.e. seasonal stock or extra staff for busy periods.
- Tailor marketing – Knowing what your customers are buying allows you to run promotions to push popular items and get rid of slow-moving or surplus stock.
Investing in an EPOS system can significantly reduce costs and boost your performance and revenue over time. If you have any questions or would like to find out more, get in touch to speak to one of our team.