Understanding How A Retail EPOS System Benefits Your Business
If you operate a retail business of any size, you’re undoubtedly familiar with the term POS – for Point-of-Sale. POS systems are standard in any sales situation, encompassing the till, as well as any hardware used at the point of sale such as screens, barcode scanners, card payment terminal, cash drawers and receipt printers. Now, a new kind of POS setup has appeared: the retail EPOS system. These go well beyond typical POS systems, allowing you to centralise and synchronise data seamlessly between Head Office, online and offline outlets, are scalable and more. In this article, we’ll briefly talk about what a retail EPOS system does, and how the most common features can benefit businesses of any size. The Major Features in A Retail EPOS System Real-time stock data across all outlets One of the most important features of an EPOS system is its ability to allow a single view of stock. You get full visibility into your stock across multiple outlets, including both online and offline channels so that you can see what is available, avoiding customer disappointment and never missing a potential sale. Robust analytical systems A retail EPOS system facilitates accurate data analysis. Since it reliabily tracks and processes sales, stocks, prices, promotions and more across all your outlets, you can be sure that you have the correct data insights on which to base future merchandising decisions. Customer relationship management features With a good EPOS system, you won’t have need of a separate CRM system because it’s all in one package. This is beneficial to you, in terms of saving time and resources, but it will also improve customer journey in store. It also simplifies potentially complicated tasks such as introducing loyalty card programs. All-in-one purchase, payment, and delivery options A good EPOS software package will streamline every area of sales transactions. They should speed up basic sales, while offering multiple payment options and upselling opportunities, empowering your staff to provide the very best service. Likewise, customer service features like returns will be simplified as well. Customisable and flexible Businesses aren’t one-size-fits-all, and neither is EPOS software. Retail EPOS systems are customisable, with different modules for different tasks, and should easily integrate into your existing stack of business software. Eurostop is one of the most popular retail EPOS systems in the world. Contact us to learn why it’s so trusted!
The Most Important Features in A Good Retail EPOS System
An electronic point-of-sale (EPOS) software package is one of the best ways for growing retailers to get a handle on their sales, stock, and customer management. A good retail EPOS system, combined with Head Office software, centralises numerous functions which were previously handled separately, allowing stock-related activities to be streamlined, while also tying in-person and online sales into a single system. If you’re looking at EPOS systems for your own business, what features should you look for? These are some of the most important you should focus on. Four Must-Have Features in A Retail EPOS System A simple user interface A good easy-to-use GUI is a must in a retail EPOS system. You should have to spend as little time as possible re-training your staff on the new system. Ideally, it should be intuitive enough that staff can figure out functions on their own, even without being specifically trained on them. Be sure to get a demo of the system before buying! Substantially improved transaction times One of the biggest benefits for your business, your staff, and your customers will be a reduction in the amount of time it takes to perform a transaction. Common activities such as basic purchases should happen much more quickly, and it should also be easier to perform more complicated tasks like utilising loyalty cards. If your EPOS system isn’t significantly speeding things up, there’s something wrong. Strong security & GDPR Compliance Cybercrime has become a major problem in the past decade, and it’s not going away. When you switch to electronic actions and record-keeping, you must do as much as possible to protect your customers’ information from data thieves and other online criminals. This is particularly important if you’ll be processing sensitive information like credit card numbers or handling personal data. The General Data Protection Action (GDPR) 2018, means that as a data controller, you need to ensure that you request and record consent when collecting personal data and respect the right of the individuals. Ask about what security measures and GDPR features the package utilises, before buying. All-in-one data collection Your retail EPOS system should be the focus of all sales-related data collection in store. As well as processing sales, it can also include customer management features and also store fulfilment, transfers and goods in features, as well as product and stock information. Combining them into a single place with robust reporting functions will substantially reduce your back-office work, as well as opening up new ways of reaching out to your customers. Eurostop is one of the world’s most-used retail EPOS systems, utilised by many of the most successful retailers globally. To learn more about Eurostop and its benefits, please contact us.
Mobile Payments & mPOS: Checkouts Made Easy
Nowadays, many more retailers are adding mobile point of sale (mPOS) solutions to their in store technology. This is because they offer a host of benefits and can make the buying experience more personalised for customers. As one of today’s leading retail POS providers, the team from Eurostop has helped hundreds of businesses make their transaction processes more effective and efficient. Here you’ll find some key information about mobile point of sale systems and why they make checkouts so easy for both retailers and their customers! How Does mPOS Work? Before learning about some of the advantages, you might first be curious to learn more about how mPOS systems work. Also known as portable point of sale systems, mPOS systems employ a mobile device (dedicated mobile payment hardware, smartphone, tablet, etc.) that functions as a register. It’s ideal for a range of different types of businesses, including fashion retailers in store, pop-up stores, concessions, or events and festivals. mPOS Has Revolutionised the Retail Industry Because of mPOS solutions, retailers don’t have to have staff members fixed behind cash registers; they can now move about the store helping customers as required. This means they’ll be able to connect with customers more easily, answer questions, and check stock, providing a better customer service experience. They enable retailers to accept a wide variety of cashless payment methods and also offer customer loyalty programs from anywhere on the shop floor. mPOS is Secure & Simple to Use Another advantage of employing mPOS units in your retail business is that they’re secure and should be compliant with all of today’s current rules and regulations. mPOS systems are PCI compliant and designed to take encrypted payments with cards or mobile wallet payments. They also come equipped with an intuitive interface, making it easy for your retail staff to find their way around the software easily. Increased Efficiency & Profit Reducing waiting and time taken to service customers results in more transactions, thus a bigger profit margin. Increased efficiency at service points also means happy customers, which can reduce queue abandonment and increase customer loyalty. With a connected POS system, merchants can also access their data remotely to respond quickly to customer demand and manage their retail store estate effectively. Contact us for more mobile point of sale solutions today! To learn more about how Eurostop can make your retail establishment more secure and efficient, contact us today by calling +44 (0) 20 8991 2700. You can also visit our website to contact us and learn more about our stock control services and EPOS systems.
Mobile Point of Sale: Future Market Growth & Enterprise Benefits
When it comes to conducting business nowadays, technology is key. For a retailer, omnichannel retailing, click and collect and in store tech including mobile point of sale (mPOS) enhances brand touchpoints and the customer journey. However, you might be wondering about the future of mPOS; is it here to stay? The team from Eurostop has helped businesses of every shape and size implement mPOS solutions and we’ve collected some insight about the technology here. Below you’ll find some of the benefits mPOS offers and more. What Exactly is mPOS? Before diving into the details, it’s beneficial to learn a bit more about the specifics of mPOS. In the simplest of terms, it encompasses any mobile device (smartphone, tablet, etc.) designed to take the place of a traditional cash register. A retailer would require internet connection, a card reader, and a POS app. Barcode scanners can also be connected. Some vendors, like Eurostop, can even provide a single solution, all in one device that has built in scan engine and integrated payments, so that you don’t need to worry about connection to other devices, truly optimising mobility and convenience. Cloud-connected business management systems have enabled retailers the flexibility to move away from the traditional stationary transaction system, affording options for customers to purchase what they need and for businesses more flexibility when offering their goods and services. mPOS solutions make it easy for retail stores to deliver a personalised service and interact with customers anywhere on the shop floor. They can easily refer to their mPOS system to answer questions, check product inventories, process sales and more. Why Are mPOS Systems Growing in Popularity? Some of the key reasons why mPOS is becoming ever-popular worldwide are because: In a connected world, consumers are looking for an enhanced in store experience. Not only is convenience key, but a personalised service is paramount. mPOS allows retailers to scale up during busy periods, minimising queues, and being able to offer great customer service anywhere in the store. In the wake of COVID-19, mPOS can also assist with social distancing measures with increased security measures required in stores. The universal acceptance of EMV card standards. The growing rise in digital payments, including mobile wallet and high-value credit card payments. Increased global efforts by governments to promote cashless transactions. The low cost and easy implementation of mPOS systems. The value-added services mPOS solutions automatically offer. Other Benefits of mPOS Implementation You might be wondering if there are additional benefits to implementing the mPOS solutions available from our team of experts, and we’re happy to declare that there are. In addition to the advantages already mentioned above, the right mPOS system can make it easier to scale up with demand. Contact Eurostop for mPOS solutions today! If you want to streamline your transaction process and offer the very best services to your customers, contact Eurostop today to learn more about our mobile point of sales systems. Call us at +44 (0) 20 8991 2700 or contact us online!
4 Benefits of Effective Stock Control Software
For a retailer, having effective stock control is essential. This is especially true if you’re managing online channels or multiple locations and geographies. For this reason, many choose to invest in stock control software, like the solution available from Eurostop. However, if you’re still not convinced, here are four reasons to consider stock control software for your retail business! Efficiency & Productivity in Operations There may be an inertia regarding the initial investment, but outdated systems or manual processes are time consuming and prone to error, which can be extremely costly. Reducing overall cost, is actually one of the primary benefits of a robust stock control system. An experienced software vendor will ensure that the onboarding process runs as smoothly as possible and the new system will regulate and digitise processes, so that you can monitor your stock accurately and reduce costly errors. This in turn reduces resource costs, ensures that you have a happy work force and not least allows you to have true stock visibility, reduce shrinkage and make the most of your stock and increase sales. In the long run, you will definitely see a return on investment. The system should enable you to manage suppliers, orders, deliveries, allocations to stores and replenishment, as well as fulfilment of online orders. Operations such as barcode scanning, system controlled markdowns and promotions and a connected POS system will all help to ensure that your stock levels are accurate. Because the system is automated, it means that retailers have the ability to roll inventory forward and are not at risk of having to wait for manual processes to complete. Single View & Management of Stock Do you own a business with multiple locations? Perhaps you have online channels as well as brick-and-mortar retail locations. Well, with stock control software, you can have a live and single view of all your stock and sales, so that you can determine best how to merchandise your inventory. Unified stock control software can easily track multiple channels and stores, so that you can allocate the correct stock to ensure there’s never a situation where you run out of a best-selling item. Having unsold stock just sitting on the shelves doesn’t only take up space, it costs you money, preventing you from placing other, better-selling items where customers can purchase them. One of the biggest benefits of stock control software is that through advanced reporting and analytics it can help you see what’s selling the best and keep track of multiple sales channels, helping you identify and merchandise accordingly, responding to market trends on a daily and monthly basis. Stock control software also helps identify when it’s time to order more based on cover. Integration of Your Entire Business A good vendor will also be able to support you to connect your stock control to other business systems. As well as connecting to your online and brick and mortar channels, you may want to integrate to your marketing, accounting and customer loyalty systems. Connecting to your POS estate allows you to factor in real-time sales and refunds to give an overall picture of inventory. Keeping Customers Happy Arguably the most beneficial aspect of implementing stock control software is the ability to keep your customers happy. By increasing efficiency, always having stock on demand, and easily handling and keeping track of returns and exchanges, it makes the retail process painless. This directly translates into better business and happier clients! Contact us today for your inventory control management solutions! Are you tired of wasting resources or having stock inaccuracies? The team of experts from Eurostop can help. Contact us online today for a FREE DEMO or call +44 (0) 208 991 2700. We also specialise in a range of retail solutions to make your business run more smoothly, such as advanced POS systems, mobile POS solutions, and business insights and reporting services, so contact us now!
10 Reasons to Invest in Stock Control: A Checklist
If you own a retail business, one of the best ways to ensure that your stock control and inventory processes are functioning efficiently is by investing in stock control software. Eurostop is one of the top stock control software providers and we’ve offered some insight for you below. What Exactly is Stock Control Software? Stock control software is designed to do a range of things, such as reduce vendor and administrative errors which can lead to stock shrinkage, as well as help you manage the supply chain process, keep track of products and stock, allocate to and replenish your stores, and reduce overall cost. 10 Reasons to Implement Stock Control Software Easy Inventory Tracking: By having a robust system for processing inventory, you can automate processes and reduce errors. A connected system can also streamline processes, speeding up processing of your inventory, so that it is available for quicker selling, making the most of your stock. A good system will let you record stock in different states e.g. free stock, in transit, quality control, which means that you can easily track your entire inventory accurately, even as it moves across multiple locations. Better Organisation Organising stock in your warehouse can be a challenge. You need a system that can, for example, set bin locations and record exactly where your stock is, for restocking and stocktakes. When you know exactly where your stock is, you can also replenish stores and fulfil online orders as quickly and efficiently as possible, which is critical in an ‘always on’era. Reduces Downtime: With a reliable system, you can let the software do a lot of the work for you, and if you do need assistance a good vendor will have support packages to assist Control of Sales Processing: By setting up products, prices, promotions and markdowns in your central system, you can control and regulate selling. If you have a connected POS estate, sales can be process quickly and correctly at Point of Sale, avoiding manual errors as store staff process sales. Barcoded systems ensure that every item can be identified accurately, avoiding staff having to process sales against a generic SKU code, which leads to stock inaccuracies. Improved Accuracy: Stock data should be real-time, so automated systems are essential for maintaining accurate data. They reduce manual errors, and there is no delay in waiting for paperwork to be processed which can lead to further temporary inaccuracies and subsequent challenges. They can also allow you to report and analyse past sales performance, which enables you to forecast with better accuracy for re-ordering. Avoid Overstocking: Stock inventory software lets you review your inventory to see what’s selling best and avoid being left with surplus stock at the end of a season. Overstocking results in money that could be used elsewhere being tied up in redundant stock, with the added challenging of having to find space for the stock surplus. Identify Shrinkage: Your stock control software should allow you to perform annual as well as perpetual stock takes. If there is shrinkage (a discrepancy between physical stock and recorded stock counts), you should be able to record this and report. By analysing these findings, it allows retailers to keep on top of sources of shrinkage and remedy the situation as quickly as possible, before costs escalate. Grow Your Business: See what works and track your progress, finding areas where you can grow your business by analyzing different data and trends. This is only possible if you have accurate stock data and sales figures. It’s much easier to monitor performance against targets if you have the correct data. Improved Sales: Replenish your warehouse and allocate to your stores according to demand to maximize sales. A retailer may want to allocate to different stores depending for example on footfall, or demographic. Maintaining optimal levels of stock and ordering the correct stock to meet market trends allows a retail business to maximize sales. With stock control software, your customers will always have what they want available in the store, this improves your customer relationships and sales services. Secure systems: In addition, a stock control system can help control against unauthorized use. User logins and role based permissions ensure that only properly trained and authorised retail staff can perform certain actions. In addition, if you are holding customer data then security features that facilitate your role as a data controller (GDPR 2018) are also vital. Contact Eurostop for stock control software and inventory solutions today! If you want to get a handle on your processes and ensure the very best in-store or online experience for all of your customers, the team of experts from Eurostop would love to hear from you. You can contact us online today for a FREE DEMO or call +44 (0) 20 8991 2700. In addition to our inventory control solutions, we also specialise in retail POS systems, mobile POS solutions, tenant management systems, and much more, so get in touch today!
What You Should Look for In A Retail EPOS Software Package
Is it time to update your point-of-sale software? Modern retail EPOS software offers numerous advantages that weren’t available just a few years before. In particular, today’s retail EPOS systems are going to be beneficial to businesses looking to embrace digital transformation and move towards a data-based approach to their work. Here are some of the features you should look for in a new EPOS system – and the benefits they could bring you. Four Features to Consider When You Upgrade Your Retail EPOS Software Multi-Channel Retailing and Single View of Stock Chances are that in the modern world, you don’t do all your sales face-to-face. Most retail brands today host online sales channels as well – and their EPOS system should be compatible with this multichannel approach! A good EPOS software package can integrate with your e-tail software. This doesn’t merely help you track stock across your entire business, it also offers numerous potential customer benefits, such as connected customer experiences like collect in store options. Compatibility with Your Payment Processor(s) The world of payment options has expanded drastically in the past few years – has your old EPOS system been able to keep up? With different types of digital transactions, contactless payments, even digital currency like Bitcoin, there are a lot of new ways you can make it more convenient for your customers to spend. Supporting more payment choices will bring in more customers who appreciate flexible options that are suit them. How Handheld Devices Are Utilized Some EPOS software supports the use of handheld devices, like smartphones and tablets for taking payment. Other solutions have their own dedicated hardware, which can require additional investment, but often pays off in terms of reliability, fit for purpose and durability. For example an all in one scanning and payment device will ensure that you are able to scan barcodes quickly, every time, and not have to worry about wireless connection to additional devices. Strong Customer Service Don’t only look at the hardware and software features, also look at the vendor. You may have a need to call tech support for your EPOS, and the vendor should be able to offer full support during your local store hours. You don’t want to be left hanging if the customer has a problem, and you don’t know how to resolve it. Embrace Modern Retail EPOS Software with Eurostop Eurostop is one of the most-trusted EPOS system vendors in the world, with options to fit businesses of any size and budget. Contact us to discuss your needs!
Tips on Getting the Most from Your Retail EPOS Software
So, you’ve decided to invest in your retail EPOS software. That’s an excellent decision! More and more businesses are investing in digital transformation, and for many retail operations, that begins with a vendor that can provide a unified commerce approach. Your retail EPOS system can streamline day-to-day operations, while also collecting and collating huge amounts of actionable data you’ll benefit from in the future. Four Ways to See Great Returns from Your Retail EPOS Software Know the Basics Be sure you, and all your staff, understand what is available and how to use all the features of the software. If you have invested in a modern EPOS system, you want to make sure that you get the most out of the system. In particular, know: How to add items to the sale, including scanning barcodes, and how to use the product search feature in the EPOS system. Any hotkeys or shortcuts, like those for commonly purchased items. How to apply discounts, including managing permissions for different types of discount. The procedures for taking payment in various forms. Don’t forget less-common options such as gift cards or split payments, if you offer these. How to use the loyalty/points program, if applicable, and managing customer accounts, including obtaining and recording consent – an essential under the GDPR if you are collecting and processing personal data of EU citizens. Digitize Your Inventory Management A retail EPOS system works best when it’s also used to track inventory. Any good EPOS software will be able to integrate directly with an Enterprise Resource Planning (ERP) package, synchronising sales, customers and stock with Head Office. You will be able to setup product information like details, prices, markdowns and promotions centrally, which streamlines operations by reducing manual error, increasing accuracy of information and optimising resource. Embrace Digital Customer Management One of the more advanced features of EPOS software is the ability to track your customer spending behavior – especially if you’re using a loyalty program that helps you collect data on them. By analysing your customers’ shopping habits, you can introduce promotions and offers which better suit their needs or encourage repeat spend. Utilize Multi-Location Support To provide efficient customer service and a unfied commerce experience, being able to manage multi locations and channels is a must. You will need to get a big picture overview of how your business is performing and your customers’ shopping habits and it’s also an excellent way to be able to satisfy customer demand. For example, searching stock at multiple locations to fulfill a customer request, so that you never lose a sale. Eurostop is one of the world’s most-trusted EPOS vendors. Click here to contact us and to discuss your needs with us.
Grow Your Loyal Base of Customers with the Right Retail POS System
The retail sector is all about one thing: serving your customers in the best manner possible to ensure you build an ongoing relationship with them to keep them coming back time and again. That’s all good and well, but nowadays easier said than done in a highly competitive market. For those looking for new ways to drum up business and compete with the online pureplays, the team from Eurostop has some insight for you. Learn here how to expand your base of loyal customers and offer exceptional service every time! What are the Benefits of Loyal Customers? Bringing in new customers is great, but one-time sales won’t keep the lights on. That’s why expanding your base of loyal customers is key. Having repeat customers demonstrate their loyalty to your retail establishment can be a great marketing tool, increasing sales through word of mouth and referrals. How to Understand Your Customers In order to grow a base of loyal customers, you need to first have a clear understanding of who they are, how they like to shop and what excites them about your brand. There are a variety of different ways you can do this, like performing email and online surveys, one-on-one interviews, telephone surveys, and focus groups. This research will help you resolve any pain points current or potential customers may have, as well as give you the knowledge you need to best engage them. Understanding your competitors is also a key component of performing market research. You can see your competition by doing some Google searches for products and services related to yours and see what comes up. Then, assess what your competitors are doing. What makes your products and service stand out? Are your competitors doing something you could be doing? All of these things will help make certain that you offer your customers the very best and make your retail business more attractive to potential customer. Use Your Retail POS as a Research Tool There’s another great way to understand your customers and that’s by taking advantage of the big data and tools your retail POS systems are equipped with. A connected and modern POS system can track all customer sales data across locations, even globally, making it the perfect tool for helping to analyse purchases across all channels and geographies. With the right retail POS software, you can understand consumer behavior and determine, for example, how often your current customers are visiting you, what they spend on the items you offer, how successful promotions are and when they’re making purchases, in addition to analysing sales data on a weekly, monthly, or annual basis. Increase your loyal customer base with a first-rate retail POS! One of the best ways to keep customers coming back is by investing in a modern and reliable retail POS system. To learn more about how doing so can help your business thrive, contact Eurostop today online or call +44 (0) 208 991 2700.
How to maximise your profits and keep loyal customers with stock control software
Stock control software can make or break a retail business. With the right software you can keep a handle on all stock aspects of your business, as well as how well your products are selling, enabling you to merchandise correctly, staying profitable and promoting customer loyalty. At Eurostop, we’ve identified three key ways the right stock control system can help: 1. Provides an accurate overview of your entire retail estate and inventory Key to any retailer’s business is ordering and holding the right amount of stock, in the right location. With a more accurate inventory, you have details of exactly what stock you have and where – whether in your stores or central warehouse. Along with accurate sales figures, this enables you to better estimate what you need to reorder, and how best to allocate to stores, depending on their performance, trends and to meet demand. Good stock control software will allow you the flexibility to auto replenish stock to stores against targets for core lines and against sales for fashion lines, or even manage inter branch transfers so that you do not have broken product size ranges. A stock control system will provide facility to not only track stock through the purchasing, allocating, reordering and replenishment stages, but will also enable an automated and reliable way to carry out stock takes, helping to minimise shrinkage. Every retailer has different stock challenges. For example, if you trade in perishables then you need to ensure you get the quantities right to minimize costly out of date surplus or wasted stock. Similarly, for fashion items, it’s vital to ride the crest of the wave of popular demand – and to know when to stop replenishing as lines become outmoded. Even if your products are evergreen, you’ll have to store them until they get bought, which unless you have good planning and forecasts, may mean using valuable storage with costs that impact your bottom line. Cover and sell through reports will provide you with the correct business insights to manage this. 2. Manage demand to keep your customers happy It’s a well-known fact that omni-channel customers are the biggest spenders, spending more in physical stores and online than those that prefer one channel. Being an omnichannel retailer is the key to drive extra revenue, which means it is vital to have a single view of stock across all channels. Having a central stock control system means that you can do just this; maintaining central control of product information and prices, and allocating to different channels and stores to meet demand, providing a consistent and connected customer experience. 3. Anticipate the unexpected Forecasting and inventory management can be tricky in uncertain times. For example, who could have predicted the current Coronavirus and its impact? In the UK, the unpredictability of the weather can make it tricky to forecast, but with stock control software and business intelligence you are one step ahead. For example, your sales figures from previous years may show that bad weather kept people away from your brick-and-mortar stores, but there was an increase on online spending. Good inventory management is the key to navigating the seasonal ups and downs. With high-quality planning, you can optimise your supply chains to avoid seasonal disappointments – or surpluses. Although you can’t predict the weather or changes in the economy, with a good stock inventory system and business intelligence tools, you can look at past patterns to help plan and forecast to weather the storms, literally and metaphorically. Good stock control software doesn’t give you a crystal ball, but it can help you to plan and see through uncertainty. Isn’t it time you reviewed your stock control software? Contact Eurostop on +44 (0)20 8991 2700, at [email protected], or request a call back