Advantages of EPoS
EPoS systems help integrate a number of business systems, providing information that enables them deliver synergistic benefits. EPoS can simplify stock and ordering, provide detailed reporting for marketing and accounting purposes and a whole lot more.
Accurate Pricing
EPoS eliminates staff errors on counting, keeps your pricing consistent and means that you can easily change pricing based on other information in your business e.g. aged stock analysis or to reflect special offers and deals.
Employees
Your EPoS system records your staff activity. You can see who did what and when. It’s easy to monitor performance of staff at the checkout and by making staff responsible for the contents of their own cash drawer you reduce wastage. Stores like Costco have on display their top employees based by items processed an hour. Why do they do this? I’d say it provides them with a way to recognise their top performers, identify weaknesses and create a competitive environment. If you are not working in an environment where this is a useful metric, EPoS systems still provide a way of recording staff activity. You can see who has been voiding transaction, who dealt with a particular customer. All of this information can be recorded. The ability to have this information and review it, is a great way to reduce fraud and helps keep everyone honest.
Marketing
You can use your system for database marketing, promotions, loyalty cards and upselling.
Reporting
Quickly and easily produce reports to analyse stock, evaluate the performance of marketing ideas, produce reports for your auditing and accounting purposes. If your system is collecting the data, you should be able to report on it.
Speed
Anything you can do to speed up the transaction process, helps give your customers a great experience and improves your employees productivity. They can spend their time doing things that will benefit the business. For example, in the restaurant setting - not having to take an order to the kitchen each time might only save a little bit of time, but multiply that between all your staff over a year and it starts becoming a sizeable chunk of time. Time far better spent on looking after your customers.
Stock
Having an accurate picture of your stock, helps you insure you get your ordering right. Having an automated way of knowing what’s there, means that you can respond faster to changes in customer behaviour and this improved efficiency means you can actually hold less stock. This has both capital and space advantages. When it comes to stock takes, you can reconcile what you have against what you should have much more easily. In perishable environments, having this data and being able to integrate it with stock systems and supply chains, has an impact on the bottom line straight away.
