An EPOS system generally consists of a VDU (Visual Display Unit) and a PC. The system may also include additional equipment such as a scanner or a printer, depending on the requirements of the business.
Further additional equipment that may come as part of the system include:
- Cash Draws
- Chip & Pin
- Customer Displays
- Weighing Scales
The touch screen monitor allows the customers to see exactly what they are buying, or alternatively what they are hoping to buy. The touch screen monitor is better than that of an ordinary monitor as the customer is actively involved in the purchase rather than waiting for the machine to do it all for them. Touch screen monitors mean that the checkout is on a whole a lot faster than usual.
The products' bar-codes are scanned using this device as a way of purchasing the item. The process of scanning the barcode means that the EPOS system records the purchase and sends information to the monitor that then shows the customer the item and price of the item.
EPOS or Electronic Point of Sale software is found in the majority of retail businesses. They're designed to aid in improving the performance of the business. EPOS systems are an ideal piece of equipment to own when running a shop, as they enable information to be stored and manipulated for the benefit of the business itself and provide an insight as to how well the business is actually doing.
An EPOS system is generally found at the 'checkout' of a business but can be linked to other terminals in the 'back' of the business and can even be linked to the business' website. By linking the EPOS system to the business' website, customers are provided with real-time information regarding stock, through the use of automatic stock control. Links to other terminals within the shop results in greater control over the business as a whole.
Because EPOS systems are a great way of storing sales information, a business can detect where the demand on product lies and can use this information to help reduce inventory. Products that do not sell well, or within a set time frame, can be manipulated through the EPOS system and placed on alternate websites such as eBay. The EPOS software also permits users to print vouchers and receipts, as well as send information regarding the transactions to suppliers, which improves business reliability.
The EPOS software really needs to be easy to use from the perspective of its users and can help calculate where profit lies, but also can help to identify customer purchasing habits and keep track of stock. This means that members of the business can increase or reduce the order of products from suppliers according to the demand and profit made from the products.
The EPOS system allows a business to identify which products are selling well and which products are making profit. Through this identification, a business can increase the order of profitable products and reduce unmarketable inventory.
A touch screen monitor and scanner are two significant components of the EPOS system in that they both cause the customer to become actively involved in the transaction. From this, the checkout is likely to occur much quicker, which will no doubt leave a business with happy customers. Happy customers are more likely to return to the shop and generate bigger profit.
A key benefit of the EPOS system is that information from sales is automatically placed into storage. No longer will a business need to panic because they have misplaced a sheet of paper with important information on; the EPOS system will automatically place it into storage for you. A reduction in misplacement and an increase is accurate storage will leave a business more reliable in the eyes of its customers and suppliers and could even result in further generation of profit.
Another benefit of the EPOS system is that it can be linked to a business' website and provide customers with a real-time update regarding stock. This automatic stock control may result in a larger generation of profit as customers will feel a sense of involvement by having automatic updates and purchase from the business again.