You have probably been to a store recently as a customer and noticed that instead of a traditional cash till, the staff member was simply using a tablet. You brought your items to them, the employee swiped your card with a reader plugged into the tablet, you signed off on it and entered your email, they sent you an email receipt, and you were on your way. It was so easy—and you cannot help but wonder, is an ePOS system or register right for you?
If you are a retail business, then the answer is probably yes. There are numerous options available, so what works for another company might not work for you, but there is certainly an option out there that fits your needs and can revolutionize your store. Here are a few reasons why your business would benefit from an electronic point of sale system:
It streamlines the checkout process
One of the most noticeable examples of how an ePOS could benefit your business, from a customer’s point of view, is that it dramatically expedites the checkout process. Standard cash registers are slow limiting; and the older they become, the more malfunctions they experience. This is a frustrating part of shopping—you have your items and want to buy them, but handing over your money is unnecessarily difficult.
An ePOS system is straightforward. It works quickly and can involve fewer steps, so customers can leave almost as quickly as they came in. A rough checkout process might discourage a customer from coming back, so the smoother it goes, the happier they are.
It opens a wide range of payment methods
Typical cash registers are only capable of accepting certain payment methods, like cash and credit cards. Many people rely on these methods, but you inadvertently turn away people who prefer other options (such as entirely electronic means, like Apple Pay). It’s in your business’s best interests to accept as many forms of payment as possible.
Some customers prefer to use electronic methods because they don’t like carrying physical wallets, but others—such as members of low-income families—have no choice but to rely on cash. You don’t want to close your doors to either kind of customer, so the more kinds of payment you can accept, the more kinds of customers you will have coming in.
It improves inventory management
Many ePOS systems include inventory management software. With relevant information displayed on your tablet’s screen, you can quickly view how much of any product is currently on-site, how much more you need to order, and even how much you can expect to sell in the near future.
Your system will automatically update itself whenever a customer makes a purchase or a return so that you and your employees always know what’s going on without needing to check the stock room, and it reduces the potential for double-selling an item to two unhappy customers.
It makes your employees’ lives easier
EPOS systems are easy to use, so you won’t have to spend too long training your employees on how to use it. Instead of making your staff deal with outdated technology, you can make their lives less stressful by giving them a useful tool for interacting with customers. They’ll be able to answer questions readily because all the information they need is right in front of them.
It can help enhance customer service
On a related note, if your staff members are using tablets with card readers, then they don’t have to be confined behind the counter—they are free to roam the store, which minimizes the time customers spend waiting in line. They will also appreciate knowledgeable customer service representatives who don’t have to keep them waiting while they seek the answers to their questions.
EPOS software also makes it easy to manage customer loyalty programs and apply discounts. Plus, you can send email and text message receipts, which saves paper and spares customers the trouble of keeping track of them.
It provides you with valuable insight
One of the electronic point of sale system’s greatest perks is that it creates in-depth reports catered to the metrics you care about most. Do you want to connect with your customers more? Then you can measure the busiest times of the day and how often repeat customers return.
Do you want to know what your most popular products are? Then you can expect charts and graphs that detail which items are best sellers and which ones are less so. Using this information, you can adjust your business strategy accordingly instead of relying on costly attempts at trial and error.
With accurate accounting, detailed analytics, and a host of other tools that help you manage your business more efficiently from all sides (including remote access), your retail store has a lot to gain from an ePOS system.
