What Are the Advantages of an EPOS System?
So now you know what an EPOS system is and what it can do, but how exactly can it help your business?
Grow Your Profits
EPOS boosts your profits in many different ways, some less obvious than others.
Firstly, if you're upgrading from a cash register you will see that it hugely improves the speed you can take and process sales. More sales = more profit.
As everything is computerised, costly errors will be kept to a minimum as correct pricing and required change will be built into the system and clearly displayed to your staff.
With EPOS you will also be able to tap into new revenue streams and diversify your audience.
EPOS can connect directly to leading food delivery apps and with food delivery in the UK alone being worth a staggering £10.5 billion, is this really a market that you can afford to miss out on?
eComm software can also be easily integrated and some EPOS systems will even allow you to sell directly via social media platforms as well as more traditional online marketplaces.
Improve Your Staff Management
Each staff member can be given a unique log in which is going to help improve overall staff management in numerous different ways.
The clock-in-clock-out feature will help you track how many hours each staff member has worked with pinpoint accuracy. You can also integrate accounting software into your EPOS system making payroll a breeze.
This can also help you effectively track any extra pay your staff may be entitled to such as overtime, bonuses, commission, or tips.
Some EPOS systems come inbuilt with the ability to manage staff rotas.
The reports that your EPOS system generates can give you some deeper insights into your staff being able to see who your top performers are and who may need some extra support.
With insightful and easy-to-access reports, you will be able to identify peak hours which can help you staff smarter and prepare certain items that are popular at these times.
Boost Your Efficiency
Long, laborious and tedious, stock takes are now a thing of the past as everything is centralised through your EPOS system.
Real-time inventory reporting gives you accurate insights into your inventory letting you know the value and the location of items.
If you have 6 bottles of chardonnay on the bar with another 10 in your stock fridge then the EPOS system will be able to identify where they are and when they need replenishing keeping all of your staff members informed at all times.
Some EPOS systems can even be programmed to automatically re-order stock that is running low.
Increase Customer Loyalty
With just a few pushes of a button, you will now be able to easily see information about who your customers are, what they are buying and how much they are spending.
All of this data can be used to create personalised marketing emails and SMS messages which are going to grab the reader's attention and make them take action.
Does Sarah the vegetarian love your margaritas? Why not let her know that Friday happy hour is two-for-one cocktails? Maybe don't send her your promos for Wednesday's steak night though.
You can even build your loyalty scheme directly into your EPOS system without the need for physical loyalty cards.
Integrate Your Payments With Ease
People now have an expectation when it comes to how they want to pay.
EPOS systems typically come with card terminals as part of the package which seamlessly allows you to take electronic payments from cards, phones and other electronic devices.
Serving a table of 8 who all want itemised bills? No problem. Hospitality-focused EPOS systems make splitting bills a simple task, keeping things running smoothly and your guests happy.
Having all of this already linked to your EPOS system, combined with the already-mentioned accounting software means that your end-of-day cash-up is now as simple as ever.