An electric point of sale (EPOS) system is a combination of point of sale hardware and software that aids in ensuring efficient business organisation. An EPOS system boasts a range of features that can significantly aid businesses in understanding their commercial activities in more finite detail, which can ultimately boost retail success.
Stock control and tracking
An EPOS system allows you to maintain one centralised, highly accurate stock record which is always up to date. Whether you own one small store or a chain of restaurants, an EPOS system can track stock data throughout your entire estate. When an item is scanned or purchased, the database is updated in real-time to every electronic device registered to it, meaning inventory management is easily accessible to your employees. This has benefits for both your business and customers, such as decreasing the likelihood of stock holding, minimising stock variances, and improving customer satisfaction as a result of shorter stock check wait times.
Increased data to support how and what products should be marketed
The data generated from an EPOS system can also be used to create highly informed and effective marketing campaigns and promotions. For example, from the data an EPOS system provides, you will be able to identify a product with low selling figures and create a promotion in order to boost sales and shift stock. As well as this, an EPOS system enables the possibility of a customer loyalty scheme, allowing you to track customer buying habits and offer incentives to customers, increasing retention and loyalty.
Monitoring staff performance
An EPOS system can record your employees’ activity. Allowing you to identify your top performers, establish any weaknesses, and create a competitive environment to boost productivity and drive sales. You are also able to view any product voids or refunds made by employees, minimising the risk of misuse, misconduct, and theft in the workplace. It also allows busy managers and owners to keep up to date with their staff’s performance and sales habits while maintaining focus on managerial tasks and responsibilities.
Data accuracy
Owning a fully integrated EPOS system ensures all of the data you collect including sales and stock remain accurate. You’ll be able to discover faults and potential disparities using the data you collect from inventory and sales tracking.
Cash control
At any given time, an EPOS system can instantly report on how much money there should be in each cash drawer, and provides end of day cash declarations, making it easy to identify any variances.
At Aston Shaw, we’re committed to helping our clients find ways to run their business both more effectively and efficiently. If you think your business could benefit from an EPOS system, get in contact with us today and one of our friendly experts will be in touch.
