17.10.2023
POS stands for 'Point of Sale,' and it is the point where goods or services are exchanged. The POS is a cash register we encounter when shopping. EPOS systems are the electronic version of classic POS systems that primarily work online and save data securely in the cloud.
Let's take a look at why you should upgrade from a POS system to an EPOS system:
Modern EPOS systems offer unparalleled flexibility in inventory
management compared to outdated POS systems. At IPOSG, we integrate
your inventory management into a third-party system for optimal control.
Real-time tracking of inventory through the EPOS terminal ensures you're
always informed. Receive timely notifications when stock levels are
dwindling, preventing shortages of your best-selling items and eliminating
overstocking.
In the past, traditional POS systems often led to inventory mismanagement,
resulting in excess dead stock occupying valuable shelf space a costly issue
in terms of time and money.
Over and beyond the traditional counterpart, an EPOS system has
significantly better security mechanisms.
Of course, considerably enhanced security was required because EPOS
systems are web-based, meaning they are secure to use with little fear of
being hacked or compromised.
Cloud-based security is more concerned with preventing data loss, such as a server failing and losing the month's sales information, than avoiding hacks. This is, of course, a possibility, but it is more for data preservation rather than data theft.
If you are still trying to get an updated POS system or are missing out
on
essential sales trend data and insightful charts, keep reading!
Modern EPOS systems offer a standard array of statistics and analytical
tools that provide comprehensive insights into your business's
performance.
With IPOSG’s EPOS systems, you can effortlessly track expenses during
product input, specify product cost prices and GP, and calculate
wholesale
prices.
This level of detailed insight is invaluable, eliminating any guesswork
and
allowing you to make informed decisions that will significantly benefit
your
business in the long run.
The landscape of monetary transactions is evolving constantly.
Hospitality
providers and businesses must accommodate various payment
methods that
are prevalent today.
From online payments to traditional credit card transactions and
modern
contactless options, consumers have diverse preferences when
settling their
bills for goods and services.
Traditional POS systems typically accept cash, debit, and credit card payments, limiting potential customers who prefer other methods. If a business relies solely on a traditional POS system, it might hinder sales due to the inability to accept popular contemporary payment modes..
In the past, POS systems were designed to work
exclusively with designated
hardware, usually consisting of a fixed terminal, cash
drawer, and specific
card readers.
On the other hand, EPOS systems offer a remarkable level
of hardware
flexibility. Many EPOS systems are compatible with
iPads, various mobile
devices, and standard tools in restaurants, cafes, and
hotels today.
Additionally, modern EPOS systems often provide offline
functionality,
ensuring that a loss of internet connectivity doesn't
disrupt the entire
network—an advantageous feature for both businesses and
customers.
Over and beyond standard POS systems, EPOS
systems provide far more
flexibility, data, and increased security and
mobility. Modern EPOS systems
do not rely on burdensome hardware; the software
is simple to set up and
operate.
When you invest in an EPOS system, you will get
much more out of your
POS. You may now rely on an all-in-one
marketing, management, and
analytics solution rather than just a cash
register.
