The EPOS system, or Electronic Point of Sale system, is a kind of technology that facilitates the accurate recording of sales made in a certain business. Normally utilized for itemizing and summarizing transactions in retail business, this system makes day-to-day business operations a lot easier. For example, the retailers are saved from the hassle of pricing the goods items all by themselves.
EPOS systems take and record the payments for goods and services in a store, cafe, hotel and any other enterprises that cater and work for customers. It stores the listings of the stocks which is useful enough to guarantee a seamless re-ordering of the goods. Beyond taking and recording payments, it also improves the operations reporting procedure as the EPOS does provides sales mix, margins, and top sellers items. Such data can be helpful as to check for any act of stealing (either theft by staff or shoplifter) thus ensure a much monitored system.
The EPOS system serves best by allowing you impose a full control over your stocks and profit margins. Having the items scanned through this very efficient system save you from all the massive troubles brought by the imprecise till operation. EPOS is a computerized till operation that sets all the difference and it’s quite far from inaccuracy.
What Is The EPOS System Made Of?
One may think that with such a great task of taking and recording all the sales, the EPOS systems must be something of a large working machine operated by the technology experts. The truth is that, this system that we encounter mostly in the stores and business outlets is mainly consisted of Visual Display Unit and Computer. There are other pieces of equipment, adjunct to the system, which is needed, such as customer display, keyboard, weighing scales, printer or any other tools that may be supplied depending on the type of business.
The scanner in the system runs though the barcodes of the products to record it and flashes the information through the screen. The touch monitor then allows the customers to see the details of their purchase.
The EPOS systems are designed to scan the barcodes and make the apt charges for the items. Every time an item is sold, the system adjusts the stocks and brings up re-order for the replenishment of sold items. This kind of stock management cuts off the number of out of stock and stock holding alike. When the system is fed with the cost and selling prices of items, it can provide you the profit margin and can work out as well with VAT and ledgers.
The system is generally designed to improve the performance of the business. Since the EPOS is an excellent means to record and store sales information, businesses are enabled to define which of the products are in demand and which are lagging behind in sales. Figuring out such information drives the owners towards necessary actions such as putting in discounted prices those products that do not sell well or selling it online which might bear it a better chance to be bought. Stock holding must be reduced in order to regulate the flow of sales and EPOS can be very helpful about it by accurately managing the stock lists.