How do EPOS systems work?

 

An EPOS system is like a cash till/ cash register that is connected to a computer.

Basically, the EPOS system reads the product barcode via a barcode scanner and calculates the amount that the customer has to pay. This provides accurate pricing information while offers a faster service to buyers.

At the same time, the EPOS software records sales, update stock levels and customer data in the backend of the seller. Later, the store owner can extract different types of reports anytime. These reports reflect the real business performance and assist in decision-making.

Advantages and disadvantages of an EPOS system :

Nowadays, everybody knows what a Point of Sale system is, what it does, how important it is and finally how it helps businesses grow, especially the small to medium-sized ones in the hospitality and retail sectors. It’s also common knowledge that EPOS systems have many great advantages. As a matter of fact they would have already ceased to exist, had they not met the needs in the market. So, what is the question, here? Actually the question is meant for you: Have you ever done some research to find the advantages of EPOS solutions to make better decisions? Besides, and even more importantly, has it ever crossed your mind that EPOS systems uk might be just fairy tales and not what EPOS providers are gushing about?  Here, we will look at 5 advantages and disadvantages of EPOS systems that you must know before making any decision.

EPOS Advantages

Compared to the traditional POS, an EPOS system has a variety of benefits, especially in long-term:

For customers:

·         Ensure correct product pricing and information on multiple sales channels;

·         Speed up order processing and transactions;

·         Allow customers to use promotions and discounts both online and offline;

·         Deliver smooth and convenient shopping experience via multiple payments and shipping methods.

For store owners:

·         Centralize business operations and manage multiple sales channels from one place;

·         Make better, more accurate inventory forecasts;

·         Keep track of business performance to provide insightful reports;

·         Reduce time and mistakes in manual processes;

·         Enable correct, instant and easy data update;

·         Set tier staff permission to reduce potential employee theft.

EPOS disadvantages

The only disadvantage to an EPOS system over a traditional POS till system is the cost – and in particular the up-front cost, which can be especially off-putting for smaller businesses.

Prices for a basic EPOS system start at around £1,000. An industry-specific system, with extensive back office features, comes in closer to £1,500. For an advanced system, with multiple terminals, it’s not uncommon to pay in excess of £3,000.

Also you should know more about this. In spite of all the benefits you can reap from an EPOS system, there might be some disadvantages. However, they seem more like challenges than real drawbacks. Anyway, you still need to know what the costs are and what you should pay. After all, buying an EPOS system is as much of a trade-off as not buying it is. Meaning, it doesn’t come without “giving” if we look at it from a “give and take” point of view. There is always a balance between what you give and what you get back. So, let’s look at some challenges you might face with an average EPOS system. In a nutshell, these systems are:

• Costly but worth it
• Need to be regularly maintained
• Need updates for better and more functionalities
• Make you over-reliant on technology
• May be daunting to train new staff on