An Electronic Point of Sale or EPOS system is composed of a basic terminal which is usually a standard PC. It also has add-on hardware and modifications that are often linked to a computer in the back office since it handles payments much quickly, provides instant stock information, and updates inventory lists. |
Internal Benefits of an EPOS System
EPOS software helps in providing sales information. An EPOS system can help you pay attention to more profitable lines. It can also minimize your inventory and improve demand forecasting for your company.
You can add extended software modules in order to improve the efficiency and productivity of the company. For example, you can add an EFT or Electronic Funds Transfer capability into your system. It means that every time the system records a sales transaction, the debit or credit card transaction will also be processed. This can help in the efficiency and productivity of the company because it can reduce the time that is spent every transaction.
You can also link other systems to your EPOS terminal. As a matter of fact, you can better improve profitability and increase control over your business through linking EPOS to your back office programs just like your accounting package. Most EPOS system packages also helps in exporting data to some popular accounts packages.
You can also link your EPOS to a running website. This can provide general information to your online customers especially with updated and accurate stock information. If the stock will run out, the EPOS system can also update the site automatically in order to show or inform the public that the product is unavailable and in order to warn your potential customers if there will be a delay in your delivery. It is also one way of informing the customers the alternatives that you offer when a product is out of stock.
The Benefits of an EPOS System in Your Supply Chain
Integrate your EPOS with other stock control system. This can allow you to keep track on the stock information as well as helps in keeping it updated in real time and also streamlines your own supply chain processes. Your EPOS can also quickly determine fast-moving products or if the product needs replenishing.
You can also link your own stock-enabled EPOS into your supplier’s extranets, websites, or back-office systems. This can also provide the suppliers with access to your real time stock information that also allows them to manage their purchasing power more efficiently.
EPOS also helps in gathering information when it comes to your stock movement. With the help of EPOS, you can gather information right from the time of purchase up to how the stock is moving. The information can be fed via warehouse as well as purchasing department. It also enables you to move together with automated restocking and purchasing.
EPOS can really make the processes of the company automated and therefore much easier. From monitoring your sales, informing your customers regarding the availability of your stocks, to keeping an eye on the movement of your stocks, it can all help in the productivity of the company.
David Duncan is the sales director at EPOS Now. Based in the UK, this market-leading company can provide you with a great-value EPOS system in addition to complete EPOS solutions for the retail and hospitality sectors.
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