January 7, 2016

PROS AND CONS OF A POS SYSTEM

In today’s world, there are many technological influences on our lives. A majority of our daily activities are reliant on some form of device, the most common of which is the use of mobile phones. Aside from this, there are other digital aspects which do not often cross our minds, although they are present even when standing at a supermarket queue waiting to pay for your items. In fact, there is now a method that has been accepted by retail stores around the world; EPOS or Electronic Point of Sale. Here the transaction reaches its final point.

LOWERS COSTS

The digitisation of most of our lives has meant that like it or not, we have to move forward with it and adapt accordingly. However, they also do present some advantages that cannot be ignored due to the efficiency of these methods which in turn lead to other benefits. When take POS systems into consideration, these benefits count as financial savings. As it is possible to conduct a number of operations with the use of this automated system such as employee time, sales and returns, exchanges and refunds to name a few, it reduces cost in terms of extended bookkeeping and accounting records that would otherwise be needed.

TRAINING

One of the reasons EPOS has become so popular and is one of the main tools necessary to conduct business is that it is able to provide numerous reports on various facets of the company. This enables the business owner to keep track of what is happening on a daily basis as opposed to waiting till the end of the month for a full analysis. As with everything though, there are two sides to a coin and if a store is making the switch from a cash register to EPOS, there is some training involved which can take up time and money which is not always dispensable depending on the company’s current status. Hence, they may need to wait till a time they are ready which means in that time they could lose out on customers. Look here for further information regarding inventory control software.

HIGHER EFFICIENCY

One very obvious advantage of switching to POS systems from cash registers is efficiency. As the EPOS setup is also now very streamlined in terms of appearance, it does not take up any more space than a cash register and can be used with minimal intrusion. As transactions can be conducted at much higher speeds, queues at the store will move faster which in turn will bring in more customers as they will not need to waste time waiting for their sale to process. Furthermore, they can also bring any items that need to be returned or exchanged as it can be easily arranged for over the system.

MAKING THE SWITCH

If you have been depending on a cash register all this time, it might be worthwhile to consider making the switch to EPOS. There are of course numerous factors to consider weighed against your business to ensure it will make a significant positive change, however it is always looked upon on rather favourably. The competition is fierce and to stay afloat it is necessary to implement strategies that are as relevant as possible in keeping up with the industry.