EPOS System: Everything You Need to Know

Last updated on December 13, 2015

EPOS system is beneficial for both retail and service industry businesses in terms of cost cutting, inventory management and sales efficiency. You just need to choose the right EPOS system for your type of business or service. Better inventory control is possible with the help of the right tools.

How Does an EPOS System Work?

EPOS systems serve as electronic cash registers. It helps to manage inventory, calculate the sales tax amounts, and also keep records of the customer payments. You can find EPOS software for all types of business and restaurant POS systems. Basic EPOS systems can handle every aspect of customer transactions from returns to refunds.

Types of POS Systems

There are different types of business EPOS systems. Some systems can be used as a single cash register terminal, while others can be used at multiple terminals. Some EPOS systems are centralized, while others are hosted online.

A stand-alone terminal, also known as an electronic cash register or ECR, is the mostbasic type of an EPOS system. EPOS software can be purchased according to your business needs. A network system includes multiple terminals that are linked together with one station acting as the primary terminal. Controller-based systems also operate in the same way where a single machine acts as the center for storing inventory, collecting data, and preparing reports.

Which EPOS system is right for your business depends on your business needs. A stand-alone terminal can be sufficient for small business. Businesses with multiple locations or a high transaction volume may need more advanced solutions. The type of system you choose for your business may not affect the features you get to use. ECRs, Network EPOS systems, and Controller-based EPOS systems are all designed to work with industry-specific software or advanced software and hardware features.

Should You Buy Web-based EPOS or Purchased Software?

EPOS software is the most important part of any EPOS system. The features and hardware depend upon the software you use. The software can either be web-based or purchased with your EPOS system. Each one has its ownadvantages. Both the software is compatible with the iPad pos system also.

Web-based software is basically paying a monthly fee to the software provider, and then downloads the program to your controlling terminal. Some advanced programs may need more technical support. Web-based EPOS systems require an Internet connection to use the system. Also, to ensure consistent performance, you need an uninterrupted power supply, and a minimum internet connection speed.

Purchased software is an ideal choice for businesses that include huge customization or want to minimize costs. EPOS software is purchased when the EPOS system is installed, and it is owned by the business that buys it. There are no monthly fees, but you need to pay for the upgrades and maintenance.

Many EPOS systems support both Web-based and customized options. When choosing an EPOS system, do your research online and check out several different companies. Ensure that the EPOS system you choose fits your business needs, restaurant, or service style. EPOS system is an indispensable tool for the management and control of stock for retail business.