Epos systems for the retail industryposhunter.com | last updated: 8. June 2020
In such a competitive area of commerce as retail, businesses are constantly looking for tools and software that can give them an advantage over other enterprises and in the technological era, an Epos system can do just that.
The following are some of the most popular EPOS systems for the retail sector:
Report and analysis features
When choosing the best Epos system for retail businesses, one of the main considerations is reporting. Many systems nowadays can provide in-depth sales reports that are tied to your customer base, which can help you make marketing and production decisions more efficiently. Tied to this is the ability to keep track of both in-store and online inventories simultaneously, meaning that stock levels are kept under better control and companies therefore run more efficiently in terms of cost. This is especially helpful if you are selling small batch or perishable goods.
Another area to consider is staff management. Epos systems can now help you with your administrative tasks by allowing multiple sign-ons with varying levels of access. This means that you can ensure data security, but also keep track of staff attendance, performance and cash reconciliation through your Epos system’s reporting function, leading once again to greater efficiency and a more up-to-date overview of how your business is running day-to-day.
In terms of cost, the majority of providers offer tiered monthly payment options, with costs increasing per terminal or per user.
If you’re paying upwards of £35 a month, you should expect 24/7 customer support and automatic cloud backup as a bare minimum. Meanwhile, transaction fees vary from 1.5% up to 3%; again, it’s worth checking the level of customisation and customer support you have access to for your fee.
Finally, an Epos system for retail should now be able to accept payment in multiple forms. With PayPal, mobile NFC payments, watches and a multitude of cards, Epos providers have had their hands full trying to keep up with accessibility, but the bottom line is finding a system that makes it as easy as possible for customers to pay.
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