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What is EPOS

Saturday, December 21, 2019

What is EPOS?

If you're a company just starting out, then the ring of the till is probably the one sound you're most eager to hear. But in these modern times, it's not enough to just stick a till on your counter and await the paying masses. This is the era of contactless cards and digital wallets, a time when 'money' is not synonymous with 'cash'. In fact, if your business is still relying on customers coming in with pockets full of cash, you're at risk of losing tens of thousands in annual sales.

 

How to safeguard against this fate?

Electronic Point of Sale (EPOS) is a combination of hardware and software designed to help you run your business more effectively. They can speed up key business processes like accounting, stock management and sales performance. And unlike standard till systems, EPOS systems help capture transactional data, and create reports on your sales (5 Sales reports you should be running) and products from the data captured. You can track and monitor your business' performance from one secure place.

An EPOS system can easily integrate with your current devices or work independently, depending on what you need. Plus, they're really user friendly, which means that with only a few minutes training, you'll be able to get up and running with the system.

Some systems (like jInventory) can be customised to include a number of features to improve business operations including loyalty reward schemes, staffing and inventory management and marketing facilities.

 

EPOS Hardware

Depending on the type of EPOS system you choose, the data input into the system is either held in servers on your premises or in the cloud. The core hardware comprises a terminal screen, much like a touch screen computer monitor. This is where you input orders and process payments. The additional hardware pieces that make up an EPOS system are connected via cables or wirelessly. These additional hardware pieces are optional and include;

  • Tablet: Portable hardware used instead of traditional EPOS or as an additional mobile device to assist with business operations.
  • Receipt printer: Small printing device using ink or thermal paper create a customer record of the transaction.
  • Barcode scanner: Electronic scanner that reads barcodes allowing you identify product items on the EPOS system.
  • Cash drawer: A lockable metal drawer used to store cash

 

EPOS Software

EPOS software provides a full quantitative analysis of your business, allowing you to make fully informed decisions to optimise efficiency and growth. The quality of software can vary on your provider. Some software packages are very basic, affording you minimal insight and functionality. Other software is industry-specific, and some can be customised to meet specific business needs.

Legacy systems, where the server is kept on your premises are costly to update. Cloud-based EPOS utilise SAAS (software as a service) payment system. This means you pay a monthly fee to your EPOS provider and your system will update automatically when a software update is released.

 

 

Not all EPOS systems are created equal, so it's important to know all the facts before you dive in and choose one. If you're ready to grow your business and simplify your inventory and order operations, start your free trial with Joyce Software today.
There's no technical knowledge needed to get started. We'll help you get set-up and running quickly and easily, and you'll have access to free unlimited support.

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