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Three Reasons Why Your Startup Retail Business Needs An EPoS System

Published on 31 July 14
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As a startup, it can often be difficult to take in everything which you need to do to ensure that your business runs smoothly and when it comes to opening a retail business, there's certain things which can make your life considerably easier and make your business run so much more effectively. One of those things is the implementation of an EPoS system. For those of you who don't know what an EPoS system is, in short it stands for Electronic Point of Sale System, however in simple terms, it's an electronic till system which allows you to take payments, control stock and pull up an overview of sales as and when you require. It's something which every retail business should have in place, regardless of how big or small they are, and, as such, we've teamed up with one of the UK's leading EPoS providers, CyberTill, to take a look at three main ways to justify the purchase of a system to yourself and your other directors.
1. Accepting Payments
Every retail business needs to be able to accept both cash and card payments and an EPoS system offers a fantastically convenient way for this to be done. While traditional till systems are available, you realistically need the flexibility of having an integrated cash and card system, offering your customers a whole host of payment options. An EPoS system will offer you the ability to accept payments in these various forms as well as sales and revenue being recorded for you. No having to count up the total income at the end of the day...your EPoS system will do all of this for you!
2. Managing Stock
Fed up of having to manually count stock? With an EPoS system, you'll find considerable amounts of time are saved due to the fact that stock control is fully integrated. When you sell a product, the system automatically reports it and allows you to see what is running low and what needs to be ordered. This also allows you to analyse which products are selling and which aren't, removing the need for guesswork and ensuing you stock that which sells and don't re-order those products which haven't proved to be successful. It can be hard to collect such data manually but with an EPoS system, it's all done for you!
3. Real Time Reporting
Long gone are the days when you need to spend hours compiling data manually to see an overview of how your business is performing. An EPoS system will pull together all necessary sales data, stock data and revenue data to offer you real time reporting as to how you're doing. In an instant, you'll be able to see whether you're turning a profit and areas which you need to focus upon and improve. You'll also be able to easily spot trends in sales and be able to plan advance for these going forwards!
Above all, an EPoS system, as far as we're concerned is a must have for any retail business and, as a startup, there's these three, plus many more reasons how you can justify the purchase!
As a startup, it can often be difficult to take in everything which you need to do to ensure that your business runs smoothly and when it comes to opening a retail business, there's certain things which can make your life considerably easier and make your business run so much more effectively. One of those things is the implementation of an EPoS system. For those of you who don't know what an EPoS system is, in short it stands for Electronic Point of Sale System, however in simple terms, it's an electronic till system which allows you to take payments, control stock and pull up an overview of sales as and when you require. It's something which every retail business should have in place, regardless of how big or small they are, and, as such, we've teamed up with one of the UK's leading EPoS providers, CyberTill, to take a look at three main ways to justify the purchase of a system to yourself and your other directors.

1. Accepting Payments

Every retail business needs to be able to accept both cash and card payments and an EPoS system offers a fantastically convenient way for this to be done. While traditional till systems are available, you realistically need the flexibility of having an integrated cash and card system, offering your customers a whole host of payment options. An EPoS system will offer you the ability to accept payments in these various forms as well as sales and revenue being recorded for you. No having to count up the total income at the end of the day...your EPoS system will do all of this for you!

2. Managing Stock

Fed up of having to manually count stock? With an EPoS system, you'll find considerable amounts of time are saved due to the fact that stock control is fully integrated. When you sell a product, the system automatically reports it and allows you to see what is running low and what needs to be ordered. This also allows you to analyse which products are selling and which aren't, removing the need for guesswork and ensuing you stock that which sells and don't re-order those products which haven't proved to be successful. It can be hard to collect such data manually but with an EPoS system, it's all done for you!

3. Real Time Reporting

Long gone are the days when you need to spend hours compiling data manually to see an overview of how your business is performing. An EPoS system will pull together all necessary sales data, stock data and revenue data to offer you real time reporting as to how you're doing. In an instant, you'll be able to see whether you're turning a profit and areas which you need to focus upon and improve. You'll also be able to easily spot trends in sales and be able to plan advance for these going forwards!

Above all, an EPoS system, as far as we're concerned is a must have for any retail business and, as a startup, there's these three, plus many more reasons how you can justify the purchase!

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