If you could find a POS system that could magically make all of your business concerns melt away, wouldn’t you invest in it? That’s what many electronic point of sale (EPOS) systems like to say that they offer. The draw of EPOS is based on improved efficiency and centralized business management. This is especially important to those of you currently operating across multiple sites, or those that are planning to do so in the future. Some POS systems, as robust as they have become, are not quite suited to handle many of today’s business challenges. This means that there are plenty of electronic point of sale advantages and disadvantages, too.
Innovative Tech Brings Innovative Advantages
While we have examined previously the overall comparison between EPOS and POS systems, it is important to dive a little deeper into what definitive benefits can be expected from installing an EPOS solution. On a high level, EPOS introduces business owners to a world of system integrations that can provide highly capable data management functionalities, such as syncing across multiple devices and enhanced reporting. By integrating most potential processes into one, manageable solutions, you reduce costs and support overheads by simplifying the overall management of the business.
The advantages of the functionalities that an EPOS system can bring into your doors include:
- Business flow optimization. From the delivery truck to the customer’s bag, you know with precise accuracy the exact steps and actions it took to get your products into the back room, onto the shelf, and out of the front door.
- Insights into customer behavior. EPOS introduces accuracy and hard data into your ability to forecast how your customers will adjust their purchasing. This gives you the edge by keeping your products one step ahead, providing enticing and fresh items that align with their interests and replacing them just as sales begin to slow.
- Staff performance metrics. Who are your top sellers? Who provides the faster checkout experience with the most positive feedback? Are there any members of your staff that are lagging behind the others, and perhaps in need of further training? These are just a few ways to take advantage of EPOS to improve staff management. EPOS also gives you ways to identify the best staffing scenarios to ensure that you are staffed appropriately for bustling moments as well as the slow times.
- Proactive inventory management. Imagine your staff, armed with tablets, interacting with a customer that is seeking an item you don’t have in stock. But rather than turning the customer away, your staff member locates the product online, orders exactly what the customer wants, and drop-ships it directly to the customer’s destination of choice with free shipping. Meanwhile, your EPOS solution is tracking this interaction and creating an alert that tells you that a new product is on the rise. This affords you with the opportunity to quickly adjust your inventory management, preventing no longer needed items from building up on a backroom shelf while ensuring that new, trending items, are fully stocked the next time around.
- Fresh customer-facing appeal. Replacing a cumbersome legacy POS till system with a sleek, modern customer-facing EPOS terminal simply attracts attention. Add to this the ability to accept a wider range of payments from Apple Wallet, Google Pay, and Touch Pay, and it takes you to the next level in customer enticement.
These are just some of the key advantages that EPOS can bring through your doors. Some items that went unmentioned, such as increased financial accuracy and deeper levels of reporting, all work to create a high production business environment in one, self-contained solution. And of course, it wouldn’t be a discussion of electronic point of sale advantages and disadvantages without talking about some of the potential cons.
Understanding Potential EPOS Disadvantages
To know the good is one thing, but as with everything in life there are catches that come with both electronic point of sale advantages and disadvantages. These systems can bring a hefty price tag along for the ride and are anything but “set and forget” systems. Regular hardware and software maintenance will be required, especially when it comes to maintaining data security and staying abreast of the always evolving EPOS landscape.
Training for not just yourself, but for your employees and to a much lesser extent, the customer, will be necessary at the onset. Getting staff familiarized with new payment processing options, inventory management strategies, and a change in how they should interact with the customer will require time and patience on your part to get this right. The customer may need to wait through payment fumbles, tablet skills that aren’t quite fully developed, and may need to grow accustomed to a changed flow of interaction with a new EPOS system in place.
Reviewing Electronic Point of Sale Advantages and Disadvantages
At the end of the day, it ultimately comes down to weighing electronic point of sale advantages and disadvantages. While lists of pros and cons are readily available most anywhere, you must be comfortable with the idea of having EPOS under your roof. This may mean that you will need to step out of your comfort zone for a bit, take a deep breath and step to see how the potential of EPOS applies to your own situation and future goals.
When you enlist the experienced help that talech can provide, you gain a partner that examines the aspects of your business to determine where an EPOS implementation can fit. This leaves you with an EPOS product that suits your exact needs, without any hidden fees or long contracts, so that your business can grow and remain flexible. Contact us today to sign up for a demo and to learn more about how talech can be your valued EPOS partner.