What first comes to mind when you think about the capabilities of your POS system? Is it the ability to quickly balance your books every night? Or is it the ability to track inventory throughout your business up until the time of sale? As important to your business as these features likely are, the way in which you handle orders and payments must also be considered a high priority. And this area can quickly be turned from an afterthought into a business asset with the addition of an ePOS ordering system.
Using an ePOS solution to enhance how your business runs has become a widespread practice. However, before you start to compare ePOS solutions, it is important to examine just how dynamic the ordering system is the systems you are considering. There are a few key elements that must be present in an effective ordering system that offers customer payment options that are easy to use, fast, and provide a positive impact on your brand reputation.
Keeping the Record Straight
Although not customer-facing, the ability to manage customer payments behind the scenes does indirectly affect what you put forward to the customer. Improper resolution of invoices can fracture customer relationships through unexpected late fees. The failure to track returned or exchanged items can lead to discrepancies in inventory counts, as well as to provide falsely positive information about sales trends. Other benefits include:
- Advanced data management features that your ePOS solution provides offer clear-cut data analysis to better align your business to customer expectations.
- Full data integration allows you to confidently build an inventory management strategy that is based on near real-time tracking of sales and inventory.
- Concise control over your inventory will allow you to make subtle, proactive changes as even the slightest of trends may indicate.
- The ability to leverage the results of these reports and analyses will also help you in keeping your books straight.
- Payroll and staff performance tracking can be automated using ePOS data solutions.
- Calculating multiple levels of taxes, and ensuring that all invoices are satisfied in a timely manner is simplified when you use the right ePOS system. This means that every payment is accurately tracked and logged, making your bottom line and accountant quite happy.
Aligning Payment Hardware with ePOS Software
Making improvements to the payment process in your business starts with the capabilities of the ePOS tills you employ. When most small business owners think of a till or register, the thought process often only includes the hardware from the outlet to the cashier’s display. But ePOS tills should be considered smart tills that include customer-facing appearances and functions as well as access to business applications and cloud-based customer information.
What this means is that an ePOS till will operate essentially as a laptop computer. Staff can quickly access your web-based menu of items to generate a digital invoice. Then, the display can be swiveled around to face the customer, so that the order can be reviewed and payment submitted. Additional options, such as the inclusion of a tip or the ability to request a receipt in a specific format, can easily be included as well, making the checkout process easier and more interactive.
An ePOS system will provide the framework for mobile payment options, making contactless transactions possible. The use of integrated web-based invoicing software further contributes to rapid mobile payments, allowing both to be delivered and paid via a web portal. And, the overall impact on the aesthetics within your business, including reduced hardware footprint requirements, will make your business feel welcoming.
Expanding Payment Options With Ease
Using innovative ePOS technology in your business will present you with one last, and very powerful, feature that greatly enhances the customer experience. An expansion of payment options will not just be possible but will provide you with a platform in which your payment strategy can be easily adapted to any emerging payment methods used by your customers. This is an important benefit for modern businesses that are under increasing pressure to accept a wide range of payment types.
The acceptance of digital payments, EMV-enabled cards, tap cards, or QR-code initiated payments can all be accepted with precision. The acceptance of these commonly used payment types, combined with the flexibility of ePOS platforms to quickly adapt to new payment platforms, presents you with new choices for accepting payments across multiple channels. Customers will take notice, and so will you when you have selected an ePOS provider that helps you with accepting payments.
Payment processing fees are often a limiting factor when a small business attempts to change terms to accommodate a new type of payment. However, some POS providers have taken notice of this challenge, helping their customers to obtain payment processing terms that are open to the new opportunities gained by the acceptance of emerging payment platforms. Overall, agreements such as these help to reduce costs and boost sales revenues.
The Benefits of an ePOS Ordering System Are a Click Away
In addition to all of the more well-documented benefits provided by ePOS systems is their ability to streamline the customer payment process. The integration of data from all areas of a business, when combined with ePOS systems’ ability to support sleek checkout terminals and a broader range of payment choices, gives your sales transaction strategy a leg up over the competition. And when the right ePOS partner is chosen, you get a one-stop solution that covers all of the bases.
An engagement with talech means a concisely designed and supported ePOS solution for your business. Our engineers will use top-notch ePOS tools to address your major customer payment problem areas, freeing you to stay focused on their experience with your brand.
Want to learn more about contactless payments?
Get your free Demo