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Taking the decision to invest in an EPOS system for your business is one that will be sure to bring a good return. Time spent managing products, recording sales or calculating financials using old-fashioned or out-dated methods takes your time away from more pressing matters such as making sales and looking for new business opportunities.

However, it is vital that you take the time to carefully choose your EPOS system and to consider the best options for your business. There are a number of different packages available depending on the investment you wish to make, but it is also crucial to consider how each package would work within your industry. For example, an EPOS system that has been designed for a small retail business would not have all the features needed for a large chain of restaurants, and nor should it. So before diving into an arrangement with an EPOS system provider, be sure to consider what it is you actually need.

Features of EPOS systems for the retail industry

Nowadays, if you want to compete in the retail industry, an EPOS system is a must. If you’re serious about growing your business and competing with national companies, you need to be offering the same levels of service that they are.

Typically, an EPOS system for the retail industry will have the following equipment:

• Till
• Cash drawer
• Barcode scanner
• Computer & monitor
• Receipt printer
• Customer display
• Credit/Debit card reader

For some retailers, for example markets, the addition of a weight scale is very useful.

A retail-focussed EPOS system should have all the functions you want to offer your customers. For example you should be able to use vouchers or discount codes, buy one get one free style offers, refunds, and exchanges.

With regards to stock control or look-up, a ‘back-office’ computer will be able to keep track of this and can feed that information through to the main till should a customer wish to order more items or see if more are in stock. Think about all the interactions you have with your customers day to day and make a list of the functions that your store needs in order to deliver the best service possible.

Features of EPOS systems for the hospitality industry

EPOS systems have revolutionised the hospitality industry, most notably in the fast-food sector where orders may be placed at the front of the store and then quickly processed and delivered elsewhere.

EPOS systems for the hospitality industry tend to have fewer components than their retail counterparts and will typically include:

• Till
• Cash drawer
• Computer & monitor (often touch screen and built all-in-one to save space)
• Card machine
• Receipt printer

Again, there are often a variety of different solutions even within the hospitality industry as the requirements of a small bar will be different to that of a hotel. Most hospitality options will have a ‘back-end’ system in place as in the retail industry in order to create ‘tabs’, manage stock control and produce detailed financial reports.

Features of EPOS systems for the beauty industry

The beauty industry is one of the more recent business sectors to adopt EPOS systems more widely. To run an efficient and successful beauty salon be it a hairdressers, massage salon or spa, you need to be able to keep track of appointments, take and offer discount vouchers and keep track of customer data in order to offer them a high level of service – on top of being to be able to easily take payments and manage financials.

A typical EPOS system for the beauty industry will include:

• Till
• Cash drawer
• Computer & monitor
• Card machine
• Receipt printer

Again this is a more simple set up that those in the retail industry but the behind the scenes software needs to be very high-tech. Not only does customer data need to be stored securely and managed effectively, stock control needs to be taken care of and diaries need to be managed. Beauty salons will find it far easier to manage their time, customers and special offers through an EPOS system that ties everything in together effectively.

 These are only a few of the industries or business sectors where an EPOS system is effective. Not all EPOS systems are created equal. Taking the decision to purchase a general, cheap package could mean more costs and more stress later down the line. Choosing the right option first time will really make a difference to your business, leaving you free to focus on growing your company.