Consider a situation where you are ready to expand your business. There may be a situation where you add more products to your business or want to open a new store chain. In any situation, your work will be double.
You need to think about streamlining your operations, your business costs increase, you have pressure to perform well to keep revenue high, and you need to adopt new technology sets for better business management.
To cope with this situation, you need to integrate your business with innovative hardware and software platforms.
As continually growing and developing is the need to stay with the current market trend; thus, it is best to take business management decisions smartly. This maximizes your chances of success.
Content…
- Point-of-Sale System Solution for Better Business Management
- What is POS?
- What is EPOS?
- What is POS Vs. EPOS System: A way toward best business decision
- Wrapping Up
Point-of-Sale System Solution for Better Business Management
In this competitive world, if you really want to run your business successfully, you need to have the right point of sales systems. The best POS system handles all your billing chaos and ensures a smooth checkout process over the counter. It establishes a convenient and seamless way to accept payments.
There are only two options for point-of-sale systems: electronic point-of-sale (EPOS) systems and traditional point-of-sale (POS) systems. Although these two systems may look similar, they each have their own advantages, and you should choose them according to your business requirements.
Let’s know the facts about POS and EPOS in more detail. Also, learn how to find out which method best fits your business.
What is POS?
Traditional POS system is designed to focus on completing sales transactions. It proffers a system where customers pay for the product purchases or services experienced by your store, and the hardware and software enable your business to make those sales.
How does a POS system work?
A POS software system allows your company to take payments from customers and keep sales track. The cash register in a store is referred to as a point-of-sale system. Modern POS systems are completely digital, allowing you to check out a customer from anywhere. You’ll need a POS system and a device that can connect to the internet, such as a tablet or phone.
What is EPOS?
The term EPOS refers to an electronic point-of-sale system. It combines EPOS hardware and EPOS software that allows a business to run smoothly. A store owner may swiftly process and track sales and other procedures using an EPOS system. He also gains a clearer understanding of his business’s performance.
EPOS Software is the key to successful retail management. It is essential to have one EPOS software that suits your business needs. After deciding on the best fit EPOS software, the next step is to choose compatible EPOS hardware.
Common EPOS features include:
- Stock control
- Stock tracking
- Purchase & order processing
- Loyalty programs
- Promotions & discounts
- Integration with a third-party website
How do EPOS systems work?
An EPOS system is like a cash till/ cash register that is connected to a computer.
The EPOS system reads the product barcode via a barcode scanner and calculates the customer’s amount to pay. This provides accurate pricing information while offering a faster service to buyers.
At the same time, the EPOS software records sales and updates stock levels and customer data in the seller’s backend. Later, the store owner can extract different types of reports anytime. These reports reflect the real business performance and assist in decision-making.
What is POS Vs. EPOS System: A way toward best business decision
| POS | EPOS |
| Manual operations such as account reconciliation are common in POS systems. | EPOS stands for electronic point-of-sale system, which is commonly used to reconcile accounts. |
| It also handles orders and keeps track of all inventories manually (stock of goods and materials of the company or organization). | It also maintains all stocks and executes orders with the help of an ERP system. |
| POS systems are often operated without the use of the internet. | EPOS is a type of electronic point-of-sale system that runs on the internet. |
| It is not as safe as EPOS. | It is more secure than a point-of-sale system. |
| Cash, credit, and debit cards are the only methods of payment accepted by POS systems. | EPOS system not only accepts payments through cash, credit, or debit cards but also accepts online payments and contactless payments. |
| The flexibility of a POS system is less than that of an EPOS system. | EPOS systems are more flexible than POS systems. |
| The POS system contains expensive and complex hardware and high maintenance costs. | The EPOS system eliminates the need for expensive and heavy hardware, lowering maintenance expenses. It has portable hardware. |
| Any issues or problems that arise will take time to resolve. | Any issues or problems that arise are quickly resolved. |
| The POS system is simple to set up. However, it is not user-friendly. | The point-of-sale system is easy to set up. It is user-friendly. |
| The use of point-of-sale systems is not popular. | Nowadays, EPOS is a widely used technology. |
Now that you have a good understanding of these two systems, it’s time to discuss which one is the better option for when you’re expanding your business. No doubt, the current EPOS system is handy when you’re expanding your business. Also, it can save your business time and money because best EPOS systems for small business allow you to automate many business selling processes.
Expanding also means that you’ll need to be able to keep track inventory and sales reports in real-time and easily know where you are running low on items.
However, it is also true that your ongoing business operations deserve the best assets that your budget can accommodate. The right system implementation will streamline your business and use your data to generate clear and accurate sales and inventory reports.
Wrapping Up
Traditional POS systems may be suitable for your business, but switching to the best EPOS system in India allows you to maximize the potential of your business. Thus, we recommend you prepare and plan to expand your business within your budget.
Let’s contact the SWIL team to improve your business’s efficiency and offer a complete, scalable solution to ensure your store’s growth and success.
