Many small businesses rely on retail epos systems to
ring up customer purchases and manage other significant operations. Those in
the retail business can achieve profits from this type of solution. Epos retail system allows retailers to complete
customer transactions but track and manage stock and customer data. According
to a survey, 91% of customers are bound to shop with brands that remember them
and provide relevant offers and recommendations – retail till
systems allow retailers to do exactly that.
There are many till systems for retail available,
so choosing the best epos system for your retail business requires careful
analysis and consideration. While assessing your options, look for a solution
within your budget and have the tools and features required for your business.
What Is A Retail EPOS System?
If you are wondering what a POS system is, then you should know that it is a combination of hardware
and epos software in the UK. It is a normal replacement
for the traditional cash register since it offers comprehensive tools aside
from ringing up sales. For instance, it allows you to record sales, process
payments, track and manage stock, and loyalty programs, manage staff
performance, and access real-time reports. Some Epos system providers offer all
you need (software and hardware) in a single package, while others allow you to
integrate their product with the hardware you buy from third parties.
Retail EPOS Software
Retailers have the option of choosing local, server-based epos
software, which stores and manages sales data on location; however, the best
programs are either apps or cloud-based SaaS solutions. Using a cloud-based
solution is normal among retailers since it allows them to see sales data
online in real time. Furthermore, cloud-based retail epos software is
affordable, which is particularly great for retailers with several locations or
a tight budget.
Whether you choose cloud-based or server-based epos software
makes sure the system is compatible with your payment processor and has the
add-ons you require.
Retail POS Hardware
While choosing retail POS hardware, consider the type of
hardware you need to use and what will be the most useful for your store. EPOS
hardware can be a fixed terminal. Many small businesses choose mobile POS
hardware since it is affordable and offers flexibility.
Although
every business is unique, the typical epos hardware you require for your retail
business includes:
·
Tablet
·
Tablet
stand
·
Cash
drawer
·
Barcode
scanner
·
Receipt
printer
·
Card
reader
A few epos
software providers
have restrictive epos software that you use while other suppliers let you use
third-party hardware. However, some specific brands and models are compatible
with the software.
What are the features of a retail epos system?
You can
buy an epos system with basic features like inventory management and data
recording or a more powerful solution, but ensure your system has these basic
features:
·
Payment
processor compatibility
·
Product
matrix, inventory tracking and purchase orders
·
Data
recording, reporting and analytics
·
Customer
management and loyalty programs
·
Staff
management
You need an epos system that integrates seamlessly with top accounting software and exceptionally rated email marketing platforms. Having an integrated system that automatically shares information will improve your business operations and reduce the risk of human error.
