Electronic Point of Sale System (EPoS) is a digital multifunction system used by retailers to capture a transaction. It combines special computers and terminals with other types of hardware such as barcode readers, customer displays, chip & pin, weighing scales and cash drawers. Thus, an EPoS system helps dealing with calculating the total and the change of a specific sale, issuing receipts, tracking inventory, applying discounts, processing cards, monitoring daily sales and keeping an eye on employee labor expenditure.
Some of the major benefits of the EPoS system include:
- Product identification: the system clearly distinguishes the products which are making a profit from the ones which are not.
- Customer involvement: since the system makes use of a monitor and a scanner, the customer can follow the checkout process, fact that guarantees customer satisfaction.
- Storage: sales information is automatically placed into storage.
- Linked to the merchants’ website: the system can be linked to the company’s website and consequently it makes available for the customer automatic updates of both products in stock as well as out of stock.
- Enables direct marketing: the system allows generating reports that identify frequent shoppers and their shopping preferences (purchased products by brand and stock keeping unit). Thus, it makes possible to offer them new or related products from their preferred brand.
- Customization: they can be adapted to the merchant’s specific needs.
- Fraud reduction: as a result of the numerous functions that an Electronic Point of Sale System system has such as the monitoring of stock levels, line checks, etc. it is a lot easier to watch over the business and employee performance.