7 Things to Consider when Choosing EPOS Software for Retail .pdf
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7 Things to Consider when Choosing EPOS Software for Retail
A right EPOS system can contribute to the success of the business. Certain EPOS systems are responsible for
intricate accounting duties that demand quite a lot time and energy. EPOS systems are able to manage inventory,
reorder products, track consumer purchasing habits etc, which could ultimately increase your overall productivity. It
helps to operate your business to operate in the most effective manner while also saving money. You need to first
consider what your business needs from as there are thousands of EPOS systems available in the market.
Different businesses require different epos features from one another. A retail store requires different features than
those who own a café. Some are specific to different types of industries while others are broad enough to suit a wide
range of business structures. Determine which features are most important to you as epos systems specialize in
Setup Cost and Hardware Compatibility:
Setting an epos system can be a pricey process as you need to consider both the cost of the software along with
hardware. Hardware of an epos terminal includes a computer/tablet, receipt printer, cash drawer, barcode scanner
and credit card terminal. You cannot buy only hardware as majority of timeemperium epos software for retail is
only compatible with selected models. Consider the cost of the epos software, whether it is cloud or physical
software. Investigate price changes based on number of terminals, users, licence fee for either one off or reoccurring.
Inventory tracking is an essential part of an EPOS system, especially when you have multiple branches or a
warehouse. If you intend to scale up your business, choose the right inventory tools from the start. If you want to
know the stock in the store or any other branch, have stock or if there is any incoming stock are common questions
on a daily basis within a retail environment. Considerations should not be limited and you should also consider if a
system can allow for the creation of purchase orders from suppliers as well and the transfer of stock between
branches. These are very important requirements when trying to manage stock and a lot of entry-level epos systems
only offer basic inventory features. Having an epos system that does both, eliminates the need to use multiple
systems and potential restrictions when you rely on integration between two separate systems.
Usability of an epos system is incredibly important in a retail environment, due to the number of staff as well as staff
turnover. The system should be easy to use both for you and your employees. On a daily basis, retail staff process
sales, quotes, returns, laybys and part payments. Therefore it is necessary that the solution is intuitive enough so
they can understand how to do each process without having to refer back to a user manual. It reduces their chances
of mistakes being made which can potentially affect the integrity of sales data.
In a retail environment, strong reporting is essential, this means getting the right information to make the right
decisions. Tracking sales by rep, branch, product and even customer means you can use this information to generate
more sales. Ability to drill down data to get very specific information, means having a greater understanding and
awareness of your business. It is important that the epos solution you consider has this flexibility.
Cloud Software VS Physical Software
Due the flexibility and increased transparency software is moving fast into the cloud with being able to access cloud
software anywhere with an internet connection. If you are looking to have an online system as being your primary
epos, ensure that your connection is safe and reliable. Physical software restrictes you to only being available on a
specific terminal, which also means getting sales data, can be technically a lot more difficult as appose to a cloud
solution. Some restrictions of cloud-based EPOS solutions, means reliance on an internet connect and if the internet
goes down, so does the EPOS. There are some cloud EPOS that allow you to continue to trade even if internet is lost
for a period of time. It has to pay to check this while considering a cloud-solution as a form of redundancy.
Integration with Third Party Software
There are more to consider than just the features of the emperium epos software for retail itself when choosing a
EPOS solution. You have to consider future proofing the technology in your business to make things easier and
more efficient. If the EPOS solution is integrated with accounting software such as Xero and Sage it will eliminate
double data entry and reduce margin for error. You can also integrate your EPOS with E-Commerce website, or
what E-Commerce solutions it does integrate with if you are planning to open an online website. Your orders can be
centrally managed along with accurately maintaining stock figures in real-time.