What is epos?

No doubt your business is successful: you get customers in; you make sales; you make money and you enjoy the process. Everything is fine and you know how your business is performing.

Do you know where your money goes?

However, could your business be performing even better? Could you use more information from the front line? Would more detailed financial feedback help you? In short, do you have an up-to-date EPoS system? And, if you do, are you fully exploiting it’s capabilities?

Because, even when a sound electronic point of sale system is in place, we sometimes find customers don’t use it to their full advantage. Whether you are in retail, hospitality or leisure, you need a constant feed of information to keep your business moving forward.

Electronic Point of Sale

With EPoS, the software system creates menus of all your products, in logical order. The touch-screen is quick and easy, accuracy is improved and the integration with bar code scanners, printers and payment systems means quicker transactions and accurate orders to other departments.

It is a cross between a cash register, accounts package and customer relationship management (CRM) system. It means accurate inventories and stock control; quicker, more accurate and more detailed transactions at point of sale; and it keeps detailed records of purchases with times, dates, amounts, customer details, etc;

So, where’s the benefit?

As an example, let’s look at your employees. Some of them may think that EPoS is like a big brother, checking on their work, spying on them and giving them no freedom. It is certainly true that it can reduce mistakes, speed up ordering and give more accurate information on customer orders>.

However, to overcome this misconception, have you thought about staff incentives? The information a good EPoS system provides can easily identify your best performing staff. You can choose to reward those staff and create a healthily competitive environment that improves all staff performance in areas like up-selling, customer service, etc. After all – it is your employees that are responsible for delivering the promises you make to your customers.

How about promotions? What if you could identify poorly performing products and create offers to increase their sales? EPoS allows you to easily re-programme items in this way. Or maybe, having identified average customer spend levels below your target, you would like to increase them. Again, you can easily create a promotion to achieve your objectives.

Another example might be customer relationship management. You might be looking to communicate with your customers outside of the buying process. Make them aware of offers; reward loyalty; update them with news; create promotions for specific segments of your customer base and target new customers.

All this information is available from your transactions, and you can use it to reduce waste, reduce costs and reduce errors, but also to increase performance in all areas of your operation.

So EPoS is not just about stock control, monitoring staff and printing an order that the kitchen or the warehouse can understand – all of which are vital. It is also about your business, your passion and making it work for you. It is about growth and planning and knowing exactly where your money goes.