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.