Electronic Point of Sale (EPOS) System
What is EPOS?
A basic Electronic Point of Sale system consists of one cash register and software needed to collect sales data. They can be expanded and enhanced with additional hardware, such as barcode scanners, card readers or other software modules.
Depending on the software, sellers can track not only their sales, but also inventory levels, gross income, profit margins, sales structure, and a variety of other data points.
This data can then be analyzed for increasing profitability and identifying weak points in the sales or inventory process. Complicated software can even automate orders and stock replenishment, as well as helping entrepreneurs to adapt their marketing campaigns based on consumer behavior.
So, the system allows people to calculate the total amount of purchases, issue a receipt with a description of each individual product, adjust the lists of current goods that the company needs for the timely planning of new deliveries. In fact, the system is widely used by large retailers.
The core points of using EPOS can be divided into the following elements, including:
- Demonstrating the specific items that are sold;
- Performing bank operations much faster by using integrated barcode scanners;
- Speeding up bank operations and decreasing errors by using integrated card payment;
- An opportunity for comprehensive reporting in real time;
- Changing the prices easily;
- High-profit margins by improving the basic efficiency of the store and total satisfaction of the clients.
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