In the growing technological world, the use of technology in business is the key to economic growth. With the use of technological and automated systems, many small business firms can compete with large-scale businesses. All the kinds of businesses require an automated system that helps them manage stock and then send information to the offline management for restocking or any other related operation. This is where an EPOS system plays an important role.
Many EPOS systems are currently helping many e-Commerce websites create a bridge between their sales point and inventory. It combines the functionality of different hardware and software to create a seamless flow of business processes. For proper management, it is very important to have an EPOS system for Business. Therefore, let us understand what an EPOS system is and what are the benefits of using them.
What is an EPOS?
EPOS stands for Electronic Point of Sale and is a combination of different software applications that are designed to work with different hardware systems. It helps in running a business successfully and with better efficiency. For example, there are some till systems that record the number of sales, but what EPOS system India does is that they record transactions and create a summary of all the input data. This allows the owners of the business organizations to have a better insight into the productivity and efficiency of the business. This, in turn, helps them generate better revenues and reduce any recurring cost that causes loss.
Several systems are customizable with different features that help improve different aspects of business operations. These include understanding the marketing facilities, better management of inventory, creating an efficient workforce, and then processing better rewarding schemes for the earned loyalty.
What is EPOS Software?
It is regarded as the key to carrying out successful management of a retail business. Therefore, an EPOS system that resonates with the needs of your business is highly important. The EPOS system connects the eCommerce sites to your offline inventory so that your business can easily flow without any risk of running out of inventory.
The EPOS software has several features such as tracking, order processing, purchase record, etc. However, every kind of business is different from the other, and each requires a different feature. Therefore, the EPOS software can be customized to meet the needs of the business.
Easy GST
One of the best EPOS system software India provides the best online and offline management is the Easy GST software. It has all the features that can help a business organization process different aspects of hardware-related operation with software related schemes. Some of the features that make it the best software are:
- It has an automatic system that creates better financial reports
- It provides better control over the stocking.
- It keeps track of all the purchases and orders that have been processed.
- It provides better asset management and tracks the inventory of the system.
- It has several integrated tools that allow them to be more efficient for business.
- It has a Cloud-based network that allows the business operations to be monitored from any system.
- It is integrated with an eCommerce website to provide an easy flow of business.
- Allows different hardware aspects to interact with different software for proper functioning.
What is EPOS Hardware?
Owing to the individuality and uniqueness of every business, each one of them requires different hardware equipment and components. However, there are certain components such as the terminal screen that are required by every business to input different orders and carry out payments. Also, the reduction in the price of the touchscreen has made it affordable for business organizations.
These touch screens show the data that is being entered in the form of orders where the sale point is, and then processing is further for payments. There are several other components that are connected together to form a chain that makes the flow of business easy. Let us see the different hardware components.
- Cash drawer: It is a secured metal drawer that is used to store cash. The EPOS system is responsible for controlling this drawer. It records who is operating the sale station and how much money has been added. This reduces the chances of theft.
- Receipt Printer: There are printers connected with the EPOS system to the touchscreens and provide a physical statement of the processed transactions.
- Barcode Scanner: A barcode scanner is an electronic device that scans the barcodes of each and every product and then sends it for further assortment. The EPOS system extracts the details of the product from the database and then sends it to the computers.
- Customer Display: It is a display device that is connected to the scanner to show the price of the product that has been scanned. It is often used for advertising information.
- Tablet/iPad EPOS: It is a portable device that is used by businesses to make ordering processing simpler and user-friendly. These devices allow better mobility and are often used in organizations where there is lesser infrastructural space.
One of the important factors while finding the best components for your business is to purchase the software and all the hardware from a single place as it assures that the system developed will be compatible.
Advantages of the EPOS system
There are many benefits of using EPOS Software for SME when they are compared with the traditional POS systems. However, these advantages can be divided between customers and business owners.
For customers:
- It allows the customers to ensure that they are being charged correctly for the product as the pricing and details are compare from different sales channels.
- It helps in increasing the speed of order processing and in turn, makes the transactions process easier.
- It allows the customers the benefit of using promotional coupons and discounts, whether they are buying the products online or offline.
- It helps deliver a convenient and customer-friendly shopping experience, giving them the freedom to make payments via different payment methods and easier shipping.
For business owners:
- It allows the salesperson to centralize different business operations and have control of all the other sales channels from a single system.
- It helps in better forecasting, which is accurate for the inventory.
- It helps keep track of the business’s operations to assess performance and have a detailed and insightful report.
- It increases efficiency and reduced the chances of errors in manual operations.
- It allows businesses to enable correct and instantaneous updates of the input data.
- It creates a permission system that reduces any kind of theft.
Disadvantages of EPOS systems
In particular, there are no disadvantages to the EPOS system. But when compared to the traditional POS till system, the EPOS system costs higher. This causes many businesses to choose the POS till system, but in reality, every component of the EPOS system that is connected brings much more efficiency in work that can be used to easily enhance the performance of the business.
Different types of an EPOS system
There are primarily five types of EPOS systems categorized according to the business organizations they are used at. The five different types of EPOS systems are:
- Retail EPOS System
- Hospitality EPOS system
- Fashion EPOS system
- Beauty Salon EPOS system
- Service EPOS system
Conclusion A good EPOS software must have the above discussed features to create an easy-flowing operation for the business. Therefore, easy GST is considered the best EPOS software. And it allows its users to connect the different hardware components of the business with the software and develop an efficient business process.
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