The many benefits of EPOS systems
There was an era when a little pocket calculator was the only ‘device’ that the retailers
had to add up bills for their customers. This was used to manually prepare records of
business sales and profits. However it was a time consuming process and prone to error.
Maintaining all records in bulky paper format was also a cumbersome task.
Computer technology has made steady progress over the years and the calculators
used by the retail traders have been increasingly replaced by cash registers to calculate
and record all sales transactions in a store. Today technology has become even
more sophisticated with the use of advanced computer software which has totally
revolutionised retail businesses. Thanks to the merits of these systems, the billing process
and inventory calculation has become faster and more streamlined. Preparing profit and
loss statements and salary payment records for employees has become easier for business
managers and the probability of errors has greatly reduced.
An electronic point of sale or EPOS software package provides all the basic customer
transactions for a retailer. This includes providing item descriptions, prices, adding taxes
and other functions performed by the conventional cash register. EPOS software with
advanced functionality can also process returns, coupons, price overrides and handle
inventory tracking and retail accounting reports.
Both receivables and payables are simpler to manage with an EPOS system. If a business
has multiple stores, the advanced EPOS software can offer an extra level of visibility for
the sale transactions at all store locations.
Here are some of the benefits as EPOS system can offer a retail business:
•Make better business decisions with accurate inventory data visibility and
reporting.
•Boost productivity and effectively oversee man-hours and business performance.
•Increase revenue and sales with well planned promotions, offers, discounts and
price management.
•Cast complete security with audit logs and real time access rights management.
EPOS software without a doubt makes retail management simpler and more efficient.
Restaurant owners for example can use specialist restaurant EPOS software systems
to keep better records of daily orders and purchases and their outlets. EPOS has truly
transformed the way many companies do business.
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