The latest trends and technology for retail EPOS systems
Today’s retail technology is defining the way that brands are interacting with customers. Providing excellent service and having the right stock are still the absolute essentials when it comes to successful retailing, however, forward thinking retailers are capturing market share with new technology that include specific EPOS features to enhance the customer experience. Clever adoption of the latest POS systems is levelling the playing field for smaller, independent retailers, enabling them to challenge the bigger players. With new EPOS features now available, the new POS systems can act as a central point for all aspects of a retailer’s business – from stock management, fulfilment, e-commerce and financial reports and customer marketing. We’ve identified four key trends in retail POS technology that can help you to compete in a fast moving market; 1. Customer experience While online shopping continues to grow, customers are still visiting stores to see and feel goods. The instore experience is becoming increasingly important. Faster checkout times, a choice of payment options and easily accessible product information are all key to a successful visit. The best EPOS features integration with your stock and warehouse systems, so that your staff can provide advice on availability across your entire store estate, and enables you to transfer items for customer collection or delivery. As well as processing transactions, they can also provide email receipts, making it easier for the customer, reducing paper and streamlining the sale. 2. Faster payment Today’s shopper is often cash rich, but time poor and won’t stand in long queues waiting to pay. Providing contactless payment, including smartphone payment options like Apple Pay and Google Pay is a faster, more convenient way to let customers pay. Investing in the latest systems that include EPOS features to accommodate these new payment methods ensures your customers never abandon their basket. 3. Collecting customer data Research by Accenture has shown that 83% of shoppers are willing to provide their information in exchange for a personalised experience. Smart retailers are taking advantage of this trend by collecting data from their customers, and using the latest POS systems makes it easy for your customers to do so. By collecting and analysing customer purchases you can gain insights on what they may buy in future, and create personalised promotions and discounts to entice them instore or to buy online. The latest EPOS also provide additional reporting features that present sales data in easy to understand formats so that you can make more effective business decisions. You can see at a glance which lines are selling well, according to colour, size or if you have multiple outlets – by location. 4. Going Mobile New mobile POS and tablets can provide smart ways for customers to pay and reduce queues at the till point. They make it easier for your staff to assist customers on the shop floor, to answer any stock queries or provide style advice. Mobile solutions are also a key technology trend, as new apps are enhancing the shopping experience. Apps like Eurostop’s MyShoppr™ are available and run on any smartphone device, enabling the shopper to check stock instantly on the shop floor, research products and product lines. Getting the balance right instore is tricky. While some customers like to be left to browse alone, others like a true personalised service to help them choose the right product. The great thing about the latest EPOS tech is that by using some of the latest features available, you can enhance your instore service to keep your customers coming back, however they like to shop. Technology vector created by macrovector – www.freepik.com
Three ways to improve your Customer Experience with Retail POS Systems
Savvy retailers, both large chains and smaller independents, will know that you can’t just rely on sales spikes (like Christmas or Black Friday) and discounting offers to keep a business profitable. Customer loyalty is an important part of the retailer’s armoury, which means not only providing the right products at the right price, but giving that extra customer service that makes them come back. Customer experience is a hot topic at the moment, as retailers introduce cookery demonstrations or design workshops, even sports events screenings, to entice customers in. Furthermore, ensuring that their actual shopping experience is up to par is all part of enhancing their relationship with your brand. Here are a few straightforward ways that you can improve your customer experience; 1. Save time at the till The latest retail epos systems make it easy for staff to manage promotions, so that you can process transactions quickly and smoothly at the till – and enhance your customer’s experience with no waiting in long queues. With your multi-buy offers, or extra discounts set up on the system, a quick touch on the display is all it takes to calculate the price and process the transaction – and it’s fast and seamless for the customer. It’s a fact that no matter how many extra staff you have – or how good your team – there will always be times when there are a rush of customers. Investing in a mobile or tablet retail pos gives extra flexibility – from looking up stock when serving on the shop floor, to processing sales to reduce queues at the till. In addition, offering contactless enables faster, easier and secure payment, which means shorter queues and more choice for customers wishing to pay by card, phone or even their smartwatch with Apple Pay. 2. Offer multi-channel shopping The case for multi-channel shopping is compelling. A study by McKinsey and the Harvard Business Review , reported that a retailer’s omnichannel customers are more valuable on multiple counts, spending an average of 4% more on every shopping occasion in the store and 10% more online than single-channel customers. Even more compelling, conducting prior online research on the retailer’s own site or sites of other retailers led to 13% greater in-store spending among omnichannel shoppers. There’s no doubt that multichannel selling can help you increase your bottom line. Connected retail epos systems ensure that your customers can switch between channels effortlessly. From searching online for a particular item, selecting colour and size and then choosing whether to buy online, instore or collect in store. With connected stock control software you can fulfil orders direct to the customer from your warehouse, or despatch to a store from another outlet. You can view your stock inventory across your estate, ensuring that your customer is never disappointed. 3. Embrace the Mobile App Convenience is key for consumers. Customers don’t think about in store, or online, but simply how can I get what I want, when I want, and in the most convenient way possible for them. Providing a true omni channel customer experience means you never miss a potential sale, online or in store. Eurostop’s MyShoppr® gives your customers the right information at their fingertips. From self stock checks instantly on the shop floor, researching products, to opting for delivery later at home, MyShoppr™ acts as your customers’ personal in store assistant and makes it easier for your customers to make a buying decision. Following these three steps will help boost your sales – online and instore – and keep your customers coming back. Now is the time to review whether your retail pos systems are up to the challenge to give you and your customers what they want. Extract from ‘A Study of 46,000 Shoppers Shows That Omnichannel Retailing Works’, from McKinsey and the Harvard Business Review
5 Ways a POS System can Benefit Your Retail Business
Running a business can certainly be exhausting on occasion. There’s so much to keep track of, like customer information, sales, accounts receivable info, inventory, the list goes on…That’s why many businesses can benefit from implementing a reliable retail POS system. However, how do you determine the best POS system for your retail business? Features of Best Pos System for Retail Below, you’ll find some of the key advantages of implementing a comprehensive POS system, so read on! Inventory Control & Organization One of the primary benefits of POS software is that it can help your retail business organize and manage all your inventory. It eliminates the need of having to waste valuable time and staff resources entering in your inventory manually on a regular basis; instead, the POS system keeps track of it and lets you know when it’s time to replenish your stock. Implementing a stock control system and then having it communicate the proper info to your POS is also another option. Customer Insights Retail POS systems are designed to provide you with regular updates and insights into your customers. They’ll track all the relevant data, like purchase history, individual profiles, personal data, and favorite items. Each time a customer visits your retail location, all this info can be brought up at the simple click of a button, making it easier for your sales and customer service staff to help them find exactly what they need. Business Data & Forecasting Collecting data and developing forecasts and analyses aren’t just beneficial to big businesses. Even small-to-medium-sized businesses can benefit from the insight gained from a retail POS system. You’ll be able to track how much you spend on a monthly basis and what your overhead costs are, in addition to identifying areas for improvement. You’ll also be able to generate detailed performance reports that are concise and easy to read. Staff Empowerment Having a POS system can give your retail staff the tools they need to be more independent, which can boost morale and empower your employees. It can also reduce turnover, which enables staff to build more long-term relationships with clients and boost customer service. Some of the best retail POS systems are even compatible with mobile devices like tablets, giving your staff easy access to info they need to best serve customers on the retail floor. Integrated eCommerce Last but certainly not least, a connected POS systems and eCommerce platform is essential. A modern system will be able to monitor both in store purchases and those online with a central view, and adjust your inventory accordingly. This will ensure that all your stock numbers are correct and minimize any issues. Let Eurostop be your premier retail POS provider! If you’re searching for one of the best POS systems for retail, you’re in luck. The team from Eurostop is committed to providing the very best technology at the most affordable price. To learn more contact them online or call +44 (0) 208-991-2700.
Retail POS Systems 101: Learning the Basics
So, your company has just invested in one of today’s leading retail POS systems, are you wondering what the next step is? You and your retail team are probably excited to get started using it, which is why Eurostop has compiled some basic tips and best practices for you. Over time, POS systems have become more than simply a way to monitor cash flow, they’re now also equipped with expansive software to increase efficiency and connect with customers. Let’s look below at some of the most attractive features of today’s modern retail POS system. Sales Reporting One of the primary functions of a retail POS system is to track all your sales and purchases each day. You are able to see valuable data such as sales reports by staff member, SGV report and deposit and reserves reports. This info will then be made available with graphics and charts for easy review. A robust retail POS system should also allow you to manage complex promotions and eliminate staff error. Customer Management Another key component of point-of-sale software is its customer management solutions. Most POS systems will be equipped with customer-relationship-management (CRM) software to record customer data. They’ll also be equipped to provide services designed to improve and strengthen customer relationships, such as using till prompts to identify promotions that a customer may be eligible for, tracking the sales histories of customers so that retailers can target customers offer upsell suggestions based on such data. With a retail POS system, you can also create built-in loyalty programs to reward repeat clients by issuing loyalty points on purchases, that may then be used for future purchases, driving future footfall and rewarding loyal customers. Inventory Management Retail POS systems are also responsible for keeping track of your products and monitoring inventory across your store estate You’ll be able to keep up to the minute records and monitor all the products going in and out of your inventory. Managing inventory across your business accurately is crucial for your success in store. Monitoring the transactions and inventory on the same system eliminates the risks that might arise from unpredictable stockouts as well as time spent checking different systems. You can reduce the time spent and increase your efficiency to offer your customers the experience they deserve. Let Eurostop help you roll out your new retail POS! If you’re interested in investing in a reliable retail POS system, contact the team from Eurostop today! We have more than two decades in global retail management experience and can come up with a system designed to suit your specific needs. Founded in 1990, Eurostop has progressed rapidly to become a major force in complete EPOS and retail software solutions, with a focus in the fashion, footwear, jewelry, and general merchandise sectors. Regardless of your business, we can equip you with highly-sophisticated retail systems that help you manage your customers and merchandise with efficiency and ease. We also specialize in stock control solutions, business insights and reporting, tenant management systems, and in-store apps. Contact us online or call us today at +44 (0) 208 991 2700.
What Features Does a Great Retail EPOS System Have?
The old-style cash register is quickly going away in favor of retail EPOS systems. Electronic Point-of-Sale (EPOS) software offers an all-in-one solution for processing sales, alongside a wide range of other features that modern retailers need in a data-focused world. They’re easier to use than traditional registers, and more cost-effective as well. There are plenty of venders offering retail EPOS systems, so which are the best? It generally just boils down to the feature set. These are some of the must-haves if your EPOS software is going to be worth the investment. 4 Critical Features of Retail EPOS Systems 1. Live and accurate stock information One of the best features an EPOS can offer is direct stock tracking, easily seen within the software. This eliminates the need for separate stock control software. The system should be able to provide accurate information about products, so customer questions can be easily answered, as well as displaying current stock levels so that you can easily see when it’s time to restock. Ideally, it should be able to pull stock information from multiple outlets as well. 2. Easy collection and collation of customer loyalty data Understanding your customers and their behavior is vital in today’s retail world and EPOS software can make that significantly easier. A good EPOS system should make it simple for employees to capture critical customer information, with a minimum of inconvenience to the customer. Additionally, it should be able to sort and display that data quickly, allowing you to investigate buyer trends that can be acted upon. 3. Upsell potential Upsells are a crucial interaction in any retail environment and this is another feature that can be integrated into an EPOS to good effect. Checkout employees can be prompted to ask for upsells and those upsells can even be based in part on the customer’s data history. Some EPOS systems even allow for customized customer-facing displays, which can be a great additional sales tool when making upsell pitches. 4. Robust reporting features Data is the backbone of modern business, but you need accurate data analysis and reporting to make use of it. EPOS systems should be able to provide robust reporting options that help you spot sales trends that go beyond individual purchases and focus instead on the big picture. Eurostop offers software solutions that modern retailers need to succeed and thrive. Contact us to discuss how we can upgrade you to full retail EPOS systems!
Aquascutum selects new management and EPoS system
Inventor of the classic Trench Coat selects new retail IT systems to integrate with wholesale, store concession and online operations Luxury clothing brand Aquascutum, famous for inventing the first waterproof fabric and designing the trench coat, has selected new retail management and electronic point-of-sale (EPoS) software from specialist provider Eurostop. Aquascutum changed their business systems after they were sold by the Jaeger Group and will use the Eurostop management and EPoS systems for its six standalone stores, its concessions in John Lewis and House of Fraser and for managing stock for its online store. Speedy integration requirements Bob Gurney, IT consultant at Aquascutum, said: “We needed an off-the-shelf package that we could implement quickly and easily and that would integrate with our STYLEman product development and wholesale system. Eurostop has a good reputation within the market and were able to provide us with a system that matched our immediate requirements and had the ability to support future growth.” The Eurostop retail systems are integrated with both the STYLEman wholesale management system and the retailer’s e-commerce system. This ensures that Aquascutum can manage all their business processes for the different channels within Eurostop. The live sales and stocks give accurate visibility of branch performance and merchandisers can quickly react to market trends. Adding reporting capabilities Aquascutum will also be using Eurostop eCubes data mining and reporting facility. The e-cubes are a reporting tool that will allow the head office team at Aquascutum to interrogate operational system data and compile bespoke reports, including weekly sales, stock and intake (WSSI). Phillip Moylan, sales and marketing manager at Eurostop, addded: “We strive to ensure that our system is quick to deploy and easy to use, enabling new shops to be up and trading fast. This is a key consideration, as Aquascutum has opened a new store on Great Marlborough Street and is looking for other store locations to expand its retail presence in the near future.” http://www.retailtechnology.co.uk/news/5151/aquascutum-selects-new-management-and-epos-system/
Eurostop launches new Windows 8 omni-channel version of its e-pos system
Eurostop, a leading supplier to the fashion, footwear and lifestyle sectors has launched the latest Microsoft Windows 8 omni-channel version of its e-pos system. Eurostop e-pos can be used for standalone shops, concessions and franchises and can easily be integrated with the e-rmis head office system for larger users. The latest version, which is expected to be the first e-pos solution available on the new Microsoft platform, has been designed with a Windows 8 look and feel, with icons that can be adjusted on the display to suit the user. The new Eurostop e pos has been optimised to run on hand held devices including tablets and smartphones. The new Windows 8 e-pos is written in .net which reduces development time and the epos software is also available on tablet and smartphone devices. The software is not just feature rich; it is also easier and more intuitive for staff to use. Reducing the requirement for training, and utilises mobile technology such as voice activation, making reporting for managers much quicker. The latest release will run alongside current versions of e-rmis in a mixed environment ie Windows 7, Windows 8 and provides a flexible and risk free upgrade path for existing customers. Phillip Moylan, Sales & Marketing Manager at Eurostop commented; “At Eurostop we continually strive to improve our systems to make it easier for retailers to run their businesses. This latest version of e-pos will bring the latest look and feel to the till point, reflecting the trends in new hand held and tablet technologies and making it easier to use. Linked to our other business systems it will assist retailers to better serve customers, increasing sales and profitability.”
Respect des lois de fiscalisation – Cinq questions à poser sur les systèmes EPOS de détail
De plus en plus, les détaillants qui souhaitent opérer dans plusieurs pays peuvent faire face à des problèmes coûteux et juridiquement difficiles liés à la gestion de différentes réglementations fiscales. Élément crucial dans la lutte contre la fraude, la fiscalisation garantit que les transactions d’un commerçant sont enregistrées et que la TVA appropriée est payée pour un pays donné (lire ici en anglais). Lorsque vous opérez sur deux marchés ou plus qui utilisent la fiscalisation, l’aide à la conformité est cruciale, tout comme la collaboration avec un partenaire de systèmes EPOS de détail qui a déjà obtenu la certification et les processus pour prendre en charge les diverses exigences. Chez Eurostop nous avons identifié cinq questions clés à prendre en compte lorsque vous envisagez d’étendre votre activité à l’étranger: Quel point de vente dois-je choisir? Le choix d’un système de point de vente qui peut répondre aux exigences légales fiscales, gérer plusieurs devises, tout en ayant une interface facile à utiliser pour le personnel, est essentiel. Avoir un point de vente intuitif améliore le service client et réduit le temps de formation du personnel, ce qui est important dans un secteur où les effectifs fluctuent pour répondre à la demande saisonnière. Comment fonctionnent les processus de vente au détail associés? Bien qu’il soit important d’avoir un système de point de vente qui traite les ventes qui respectent les exigences fiscales locales, il est également essentiel de considérer comment il se connecte à vos autres systèmes. Les systèmes EPOS de vente au détail unifiés aident les responsables à visualiser les transactions et les mouvements de stock dans l’ensemble de l’entreprise, y compris multicanal ainsi que dans des pays spécifiques. Vous pouvez également avoir des exigences de fiscalisation différentes qui doivent être prises en compte, selon la nature des marchandises, ou par exemple, s’il y a un café en magasin, où la transaction doit être enregistrée d’une manière différente. Quels rapports sont exigés par les autorités? Chaque pays a des lois fiscales spécifiques qui exigent des rapports différents. Ceux-ci peuvent également différer selon les méthodes de paiement, par exemple, les espèces, le crédit, les bons, les devises et les cartes bancaires internationales internes peuvent tous nécessiter des rapports différents. Travailler avec un fournisseur de logiciels spécialisé dans la vente au détail aide à identifier vos besoins dès le départ et la meilleure façon de les atteindre Comment les ventes sont-elles déclarées aux autorités? Certains pays d’Europe (la Pologne, l’Italie et la Hongrie par exemple) imposent l’utilisation d’une imprimante de reçus certifiée connectée au réseau qui communique directement avec l’autorité fiscale. Cependant, des approches logicielles sont de plus en plus introduites pour répondre aux nouvelles réglementations. Ceux-ci définissent un processus, pour lequel les fournisseurs de logiciels de point de vente doivent démontrer leur conformité. Souvent, ces approches signifient que chaque transaction doit être signée à l’aide d’un processus de certification fourni par les autorités fiscales. La signature est formée à l’aide d’un certain nombre d’éléments, tels que l’ID de registre, le numéro de reçu, la transaction précédente, la date et l’heure de la transaction, le montant, les montants de TVA aux taux applicables. Ces données sont transmises immédiatement aux autorités via un service web sécurisé, et une fois enregistrées, le client reçoit un reçu. Étant donné que chaque transaction est signée et contient la signature de la transaction précédente, elle crée un historique traçable qui permet de détecter les transactions manquantes ou altérées, contribuant ainsi à réduire la fraude. Comment choisir le bon fournisseur? Choisir le bon fournisseur avec un logiciel certifié qui respecte les lois de fiscalisation peut économiser beaucoup de temps et d’argent. Chez Eurostop nous avons l’expérience de travailler avec de nombreux détaillants internationaux (y compris Marks & Spencer International, FatFace et Trespass) et sommes expérimentés dans le développement de logiciels pour répondre aux lois de fiscalisation locales. Nous avons récemment obtenu la certification de nos , e-pos touch, afin de se conformer aux lois françaises de fiscalisation. Avec cette certification, cela signifie que les détaillants peuvent commercer en France en sachant que leur point de vente est conforme à la législation fiscale française (introduite en janvier 2018). Pour se conformer aux exigences fiscales françaises, nous avons intégré notre logiciel de point de vente au détail avec la solution middleware EFSTA (un des principaux développeurs de logiciels fiscaux) “Registres fiscaux électroniques” (EFR). Les détaillants pourront montrer aux autorités fiscales qu’ils se conforment à l’aide d’un logiciel de point de vente certifié, et le processus de transaction est simple, sécurisé et transparent pour les détaillants et leurs clients. If you are considering expanding into new European markets, talk to us today on +44 (0)20 8991 2700, contact us at [email protected], ou demandez à être rappelé
How Mobile Point of Sale (mPOS) Systems Go Beyond Payment Processing
How Mobile Point of Sale (mPOS) Systems Go Beyond Payment Processing Mobile Point of Sale (mPOS) systems are becoming true game-changers in the world of payment processing. With mPOS devices, you can accept payments literally anywhere, using a convenient handheld system. They accept a wide range of payment types and are also popular with customers affording them the option to make payment flexibly in convenient locations in store. Smaller businesses can particularly benefit from mobile Point of Sale systems since it allows them to compress a lot of processing power into a single device with a small footprint. However, businesses of all sizes can make use of mPOS, as the technology also allows a business to scale up flexibly during busy promotional periods and can be used to facilitate social distancing required as a result of COVID-19. mPOS systems go well beyond simple payment processing, with features that can make it far easier to manage a retail business. These are some of the most important features that often go overlooked. Five Extra Benefits From Mobile Point Of Sale Systems 1 – Dedicated devices bring extra durability and convenience Some mPOS systems run on standard consumer-grade phones and claim this is a benefit. However, the actual benefits of this approach are questionable because of two main issues. First, all too often they rely on smartphone cameras for scanning, which can be unreliable. Dedicated devices may also contain integrated card readers so that you don’t have to worry about carrying additional devices and connection issues. Furthermore, handheld units also need to be robust as hopefully they will be in frequent use, not to mention surviving accidental drops. Phones are much less rugged than specialised hardware. A better approach is to utilise robust and dedicated devices custom-built for the purpose. They cost a bit more to lease, but you get dedicated scanners which will be far more accurate and reliable than what are found on smartphones, and hardware that offer you and your customers a superior experience. 2 – mPOS Devices Become Cashflow Management Systems Businesses that are primarily or entirely mobile/digital, without physical holdings, are often challenged to properly track their cash flow. Because mPOS systems link directly into transactional databases, they become an easy way to track cash flow in and out, as well as analyse sales trends. This tracking can, for example, prevent over-or under-stocking on seasonal items by giving business owners all the sales information they need, right at their fingertips. 3 – Collecting And Accessing Customer Information On The Go Another way that mPOS systems go beyond simple payment processing is that they can also be a valuable part of your customer relationship management. Along with payment details, mPOS devices can capture numerous pieces of customer data, instantly adding them to your CRM database for analysis or retrieval. This is particularly important if your business caters to younger buyers like those under 40. These buyers have grown up in an intensely personalised sales environment and expect an “Amazon-style” sales experience whenever possible. Collecting their data with your mobile Point of Sale device allows you to offer customised promotions, personalised coupons, and similar incentives which are targeted directly at each buyer. 4 – Instant Integration With Your Online Systems For businesses running multiple or mixed physical and digital sales channels, tracking inventory and sales can be a complex operation. This is especially true if both physical and digital outlets are pulling from the same stockpool, be that warehouse(s) and/or stores. It’s critical to avoid stocking issues that could delay or prevent deliveries. mPOS devices prevent these sorts of issues because they connect directly to a central inventory database, as well as feeding into the same overall sales data as every other aspect of your business. All data is instantly accessible on the device, allowing for on-the-go monitoring of the state of your business and stocking, no matter the situation. 5 – Having A Backup Plan In Place Finally, one of the most under-discussed benefits of mobile Point of Sale devices is their ability to act as backup systems. What if, for example, the power goes out in your business, or your main digital connection goes down? Your mPOS devices are there, battery-powered, and utilising cellular service rather than a wired connection. They’re an excellent failover option if contingencies have gotten in the way of your daily business. In addition, their portability makes them a great option for a variety of short-term applications. They’re perfect for situations such as pop-up stores, trade show booths or street fairs, where you don’t want to haul major computing equipment around. Having a few mPOS devices allows you a lot of extra flexibility. Get Mobile Point of Sale (MPOS) Software Eurostop is one of the most trusted providers of POS systems in the world, with a variety of software and hardware solutions for every need. Click here to request a free demonstration of our systems!
Why Your Business Needs to Invest in A Modern Retail EPOS Software System
For years, Electronic Point of Sale (EPOS) software has been growing in use, and it’s easy to see why. EPOS systems help tie together every aspect of your retail operations and can even be linked to other business systems, such as your inventory, ERP, accounting or CRM systems, to yield further benefits. Today’s EPOS software solutions can do so much more than simply provide a platform for taking sales. If you’re still using older software and entry systems that are little more than glorified cash registers, your operation could see so many benefits from upgrading. In this article, we’ll talk a bit about how retail EPOS software can radically change how you conduct sales and track your inventory – changing the in store experience all for the better. Seven Reasons It’s Time to Upgrade Your EPOS Software Accept a wider range of payments Any till or EPOS system can accept payments – but in a global sales environment, you need options for taking payments in as many forms as possible. Along with standard forms of payment like cash and credit card, modern EPOS systems can take several other forms of payments such as mobile wallet payments, multi-tender payments, deposits and more. The easier it is for your customers to pay, the more they’ll come to prefer you over the competition. This can be particularly vital if you’re expanding operations into countries where you have a minimal physical presence and need ways of handling local payment methods. An all-around better customer experience Retail EPOS software makes life easier for your customers in multiple ways. Beyond accepting more types of payments, your sales staff will easily be able to access product and other inventory data from across your store estate – allowing them to respond to enquiries, giving out accurate information to allow customers to purchase what they want in the most convenient way possible. Never miss a potential sale! Providing a personalised service also becomes possible with inbuilt loyalty systems; and that’s vital as customisation becomes a key differentiator on a competitive high street. Your systems build up knowledge of what your customer preferences are, so why not upsell by recommending other products they may like, or reward loyal customers with targeted promotions? Even when handling standard in-person sales, a good EPOS will speed up processing at till point, reducing queues and also errors. Products can be scanned with prices, markdowns and promotions all applied correctly and securely. This not only adds up to an improved customer experience – and your customers will appreciate it, but it also ensures that your sales data is correct and free from manual processing errors or fraud. Detailed inventory tracking Inventory tracking is standard in any modern EPOS software, and it’s vital for improving efficiency within your retail business. There are no more entering sales figures by hand, a time-consuming and error-prone process. Every sale of every product, via every point of sale, is tracked and synchronised instantly in real-time across your store estate and in your central inventory management or ERP system. This single view of stock is essential when managing customer demand and your retail business effectively. Deep analysis of your sales data By tracking inventory over time, you gain access to a wealth of data on sales trends and how well particular product lines are doing, right down to SKU level – colour and size. You can gauge customer interest – particularly if the EPOS is also tied into your Customer Relationship Management (CRM) system. Report on sales on a daily, weekly, monthly, or yearly basis. Identify your best salespeople, or which products have the most appeal to various locations or demographics. Since all this information is real-time, you get up-to-the-second reports whenever you need, enabling you to respond just as quickly There’s no easier or more robust option for staying on top of your sales figures, no matter how large or sprawling your operation may be. Plus, as time passes, you’ll amass a huge amount of historical data which can then be analysed to predict future trends. This allows for precise ordering, store allocation and stocking. Improved accounting and cash management With all data tracking being handled electronically, accounting and cash management become far easier as well. System data will be more reliable, with automated systems in place to ensure all the numbers add up. Also, since all transactions are tracked including post-sale activity, this means actions such as refunds or exchanges are also instantly entered into the system and accounted for. Reconciling your books has never been easier, with fewer opportunities for human error to cause problems. Plus, since EPOS systems can track employee behaviour, you’ll be able to easily spot your best representatives, so that you can make the most of their skills and strengths. Electronic receipts and other reduced paper waste Paper receipts are quickly going away, and that’s great for both the environment and your budget. EPOS systems can easily generate electronic receipts or create digital equivalents for any other type of paperwork as well. Employees will be more efficient, if they never have to manage and store paper. They’ll lose fewer documents, and spend less time creating them in the first place. In addition, digital receipts offer further marketing opportunities. We touch on this further in the next point, but if your systems are GDPR compliant and allow you to collect marketing preferences, then why not use your digital receipts to inform your customers of relevant promotions, or take the opportunity to upsell similar products that may be of interest, based on purchase history? This can work to the advantage of the customer as well, since you can harvest their email address and email them any crucial documents – making it harder for them to lose important paperwork. It’s also simpler to re-send any documents they might need, with very little hassle. Leverage your EPOS for improved marketing When your EPOS and CRM systems are linked, there are nearly endless opportunities for improved marketing. Just as a few examples: Do deep