Your guide to EPOS systems
EPOS systems explained: How they can help your small business thrive.
An EPOS, or electronic point of sale system, is the modern-day version of a till system. A digital platform that collects your sales records and other valuable data, it is explicitly designed to make your business life easier.
What is an EPOS system?
EPOS systems can be considered modern versions of a checking account system. As well as simplifying business operations, the data collected by EPOS systems allow business owners to understand their customers better and more accurately analyse how well the business is performing.
An EPOS system is a powerful piece of software that provides a comprehensive overview of your business’ performance and stores all data in one secure location by simply connecting it to your card machine.
EPOS systems are made up of three elements:
A central terminal with a touchscreen display and software bespoke to your industry.
Card machines that can accept the major credit and debit cards, as well as Apple Pay and Google Pay.
A connection that links the central terminal and card machines to a printer and a till.
How do EPOS systems work?
EPOS systems use a combination of hardware and software to help businesses process sales more efficiently.
Hardware: Features a central touchscreen terminal connected to your card machine and receipt printer.
Software: Can be installed directly or be hosted in the cloud. The cloud is ideal for multi-site businesses analysing data across several locations.
Installing an EPOS system allows you to monitor business performance more accurately and efficiently. It enables you to keep track of stock in real-time and track sales, including who a customer is, where they are, and which employees are the highest performers.
The EPOS software varies depending on your business needs, but most will allow you to:
Keep control of stock
Process purchases
Track stock
Process online orders
Keep tabs on promotions and discounts
The versatility of terminal screens
The terminal screen is where you process orders and payments. As the technology has advanced, so have the ways this processing occurs.
For example, a newsagent or independent clothing shop might have a till or cash drawer with a receipt printer on which customer transactions are recorded. By contrast, in hospitality, devices such as tablets are used to enhance the customer experience by allowing orders and payments to be taken tableside.
If you are unsure which hardware or software option would be best for your business, a member of our experienced team would be happy to assist.
Benefits of the EPOS system for small businesses
Speeds up services
Whether you run a takeaway or a clothing shop, there will be peak times when footfall is high and queues are long. At the busiest times, your employees can become stressed and your customers agitated.
An EPOS system speeds up sales transactions, reducing queues and allowing you to capture customer data and maintain high customer service.
Prevent mistakes
A business that only accepts cash payments is at greater risk of human error and delay. The wrong change might be handed to a customer, or a customer might take time to find the exact amount owed.
Using an EPOS system and card machine, such incidents become vanishingly rare. Not only is it more efficient for your customer at the point of sale, but it also makes balancing the books much easier at the end of each month.
No more cashing up errors
By processing card payments, you have less cash to collect from the till at the end of each day. This saves on nervy trips to the bank, prevents miscalculations, reduces the risk of theft from the premises, and an integrated EPOS payment service can even cut the time needed to cash up.
Quick and easy set-up
From your first call, Clear Business will make the process of becoming EPOS-enabled quick and easy.
Connect your EPOS system to your online store
Suppose your small business has an eCommerce site. In that case, an EPOS system will enable you to integrate online and offline information to provide an overall picture of your stock intake and customer information.
You’ll be able to find helpful and accurate information quickly, such as which products do well online and where most customers make their purchases.
Enhances customer experience
The right EPOS system will ensure that the pricing of products across all online and offline platforms is updated correctly and that customer payments can be made as quickly as possible. These features empower you to deliver a smooth customer shopping experience and encourage repeat purchases.
Reach even more customers today
Interested in EPOS systems and how they work? Our card machines work with a range of EPOS systems, so if you are looking to integrate your existing card machines, Clear Business can help.
Per the Payment Card Industry Data Security Standards, our systems are secure and compliant.
Begin the journey and transform your business’s EPOS system with a free quote today.