EPOS stands for Electronic Point of Sale, a working device system that functions mainly in the taking and recording of sales information. There are lots of advantages in using the EPOS system, and it relieves the people from much of the hassle of pricing and checking all the stock. The system itself could perform the tasks, improving and enhancing the day-to-day business operations.
A POS system is a computerized till operation that ensures an accurate encoding of all the sales made. As the information is fed on the system, it automatically processes on its own. Taking and recording the entered sales, raising the number of stocks needed for re-ordering, working out on the profit margin, VAT and ledgers. The system is performing very important roles so that having it in the business provides so many reliefs in the entire sales management process.
Advantages of POS Systems
– The system works out with the recording of the stocks. It helps identify as well the top selling goods from the poor selling one. Such reports would drive the owners to necessary actions about getting rid of the stock holdings. Reducing the stocks holding would definitely improve the cash flow of the business. Having an accurate list of the poor selling items, it would then prevent the furthering ordering of such items that do not sell much.
– EPOS improves the ordering process. Having accurate records of the items that are being sold, it would be easy to define now which stocks are in need of replenishments, thus reducing out of stock goods.
– EPOS systems consist of a computer and a visual unit display. Other equipments are attached to it like scanner, printer, weighing scales and numbers of others, depending on the type of business. The most important components are the scanner and the touch screen monitor. Scanner skims through the barcode attached to each product, the computer would process it then and price the goods with the apt charges. The touch screen monitor allows the customers to see what they are purchasing or yet hoping to buy, thus involving them in the transaction which makes the customers more happy and satisfied with the service.
– Another great feature of EPOS systems is the accurate storage of all the sales information. Now you can leave out all the worries about missing a sheet of paper with all the significant data on it. EPOS will safely secure the information and made it available anytime you have a need of it. All details regarding the sales are important so better keep it all stored in a safety place – with the EPOS you don’t have to panic about some misplaced papers because everything stored there in your system.
– EPOS can be connected to business websites, where customers can have a look of the update on the stocks. This EPOS feature can also inform the customers of the items that are currently out of stocks, providing as well when the products will be made available again. The system can also provide list of alternative goods that the customers might be interested to purchase in place of the items that are out of stock.