EPOS System Features and Benefits
Updated: Feb 22, 2020
If your Singapore-based company is stuck in the stone age, now's the time for modernization. This is thanks to the Productive Solutions Grant (PSG) which covers up to 70% of a business's long-term technology investments.
To apply, you'll need a quote from a pre-approved equipment vendor. So, first things, first. You've got to decide what to get.
The answer is simple. You need an EPOS system.
Stick around and we'll explain why this state of the art technology is your ticket to advancement.
EPOS System: What It Is and Why You Need One
POS stands for Point of Sale. In a physical storefront, the point of sale is the cash register or till where you exchange funds for goods and services.
An EPOS is an Electronic Point of Sale.
By definition, the only real difference between the two is that one uses electricity. It's also a very broad term. EPOSs range from simple tills that do little more than calculate sums to cloud-based devices that can do almost anything.
You can tailor the latter of these to suit the needs of almost any business. Some tasks you can perform with an EPOS include:
Build a customer persona
Share files and data with accounting software like Xero
Manage inventory from anywhere
Gather data and create comprehensive reports
Secure and store important information and documents
The options are almost endless and the possibilities seem to expand every day.
Get to Know Your Clientelle
Businesses that understand their customer base know when and how to advertise. They're able to optimize their marketing budget to both get and keep customers.
A cloud-based EPOS that integrates with customer management apps helps you do that. As your customers check out, they can enter contact information.
The best apps, tie that information to purchases. You can then generate comprehensive reports for current information about your clientele. Use this data to build accurate customer personas for your business.
Expansive App Integration
Cloud-based EPOS systems have the ability to sync with a wide range of apps in real-time. They can also import and export data to various platforms in a selection of file formats. This eliminates the need for data-entry by hand and reduces the possibility of human error.
Additionally, with the variety of apps available, you can customize EPOS platforms to your company.
Examples of apps an EPOS might be able to connect with include:
Customer Relationship Management (CRM) Platforms
CRM apps like Salesforce make it possible for you to manage customer data in intuitive ways. You can build databases, develop advertising campaigns and more. Some apps also allow you to create knowledge articles for employee and customer education.
Applications like Xero and Quickbooks make accounting for your business more fluid. Categorize expenses, record sales, pay for taxes all from a single place.
Shopify, Big Commerce, and other similar eCommerce give you the power to expand the sales channel beyond retail outlet to the world.
Retail Assistance Apps
Snapify, Reeward, and other similar apps give you the power to manage the pricing, sales and let your customers interact with you anytime and anywhere.
Maintain Complete Control Over Stock
One of the best things about cloud-based innovations is their ability to sync data across multiple devices. This is particularly helpful when it comes to inventory.