Many small businesses rely on retail epos systems to ring up customer purchases and manage other significant operations. Those in the retail business can achieve profits from this type of solution. Epos retail system allows retailers to complete customer transactions but track and manage stock and customer data. According to a survey, 91% of customers are bound to shop with brands that remember them and provide relevant offers and recommendations – retail till systems allow retailers to do exactly that.
There are many till systems for retail available, so choosing the best epos system for your retail business requires careful analysis and consideration. While assessing your options, look for a solution within your budget and have the tools and features required for your business.
What Is A Retail EPOS System?
If you are wondering what a POS system is, then you should know that it is a combination of hardware and epos software in the UK. It is a normal replacement for the traditional cash register since it offers comprehensive tools aside from ringing up sales. For instance, it allows you to record sales, process payments, track and manage stock, and loyalty programs, manage staff performance, and access real-time reports. Some Epos system providers offer all you need (software and hardware) in a single package, while others allow you to integrate their product with the hardware you buy from third parties.
Retail EPOS Software
Retailers have the option of choosing local, server-based epos software, which stores and manages sales data on location; however, the best programs are either apps or cloud-based SaaS solutions. Using a cloud-based solution is normal among retailers since it allows them to see sales data online in real time. Furthermore, cloud-based retail epos software is affordable, which is particularly great for retailers with several locations or a tight budget.
Whether you choose cloud-based or server-based epos software makes sure the system is compatible with your payment processor and has the add-ons you require.
Retail POS Hardware
While choosing retail POS hardware, consider the type of hardware you need to use and what will be the most useful for your store. EPOS hardware can be a fixed terminal. Many small businesses choose mobile POS hardware since it is affordable and offers flexibility.
Although every business is unique, the typical epos hardware you require for your retail business includes:
· Tablet stand
· Cash drawer
· Barcode scanner
· Receipt printer
· Card reader
A few epos software providers have restrictive epos software that you use while other suppliers let you use third-party hardware. However, some specific brands and models are compatible with the software.
What are the features of a retail epos system?
You can buy an epos system with basic features like inventory management and data recording or a more powerful solution, but ensure your system has these basic features:
· Payment processor compatibility
· Product matrix, inventory tracking and purchase orders
· Data recording, reporting and analytics
· Customer management and loyalty programs
· Staff management
You need an epos system that integrates seamlessly with top accounting software and exceptionally rated email marketing platforms. Having an integrated system that automatically shares information will improve your business operations and reduce the risk of human error.