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Increase business revenue with an EPoS system

Innovate to survive is the saying that is commonly being heard across multiple industries today, with business owners being advised to take advantage of the technology that is currently available to them.

Retailers and the like are being encouraged to utilise electronic point of sale (EPoS) systems as part of their future planning. Technology is driving the whole selling process, from the customer journey of browse and buy, to the supply chain of collection and delivery. Taking a business from a single to an omni-channel operation is a big part of this digital movement, in order to maximise sales and revenue. Mobile websites and apps, click and collect, e-wallets, data harnessing and personalised marketing and so on, are all working together to aid businesses and their employees in delivering what must now be a customer centric shopping experience.

Aware that to gain competitive edge and drive profits, Sarah Calcott, senior marketing director at eBay UK, focuses on giving shoppers convenience, speed and choice so that they can shop anytime, anywhere, on any device. “We're constantly looking to improve and provide buyers and sellers with the ability to easily browse, shop, sell and mange their eBay activity whenever and wherever they are,” she said. Supporting this vision, is UK DIY retailer Screwfix, which following an ecommerce and warehouse platform upgrade has expanded its offering to include catalogue, call centre, online, app and in store selling, making sure that no matter what channel a consumer buys through they can check on or return purchases through any one. John Mewett, marketing director at Screwfix comments: “The real big step-change for us was when we re-platformed. Although we'd come from direct business with stores, we then looked at it as an omni-channel business, and put a platform in place that has a single view of the customer and a single view of stock”.

Ensuring the shopping experience is seamless and has no gaps comes as a result of joining all processes up at head office.In turn this single view enables a business to achieve maximum return and cost savings in a number of ways :

Automated processes

The EPoS system is renowned for making processes far simpler and more effective through automation. Not only do they save you time, but they also increase accuracy. For example, even in the most straightforward of tasks, counting stock or adding up figures, can often be recorded incorrectly, however by scanning and submitting data into the system the results are generated for you in a fast and precise manner.

Faster operations

Counting, ordering, selling, and typically most admin is faster using an EPoS system thanks to its ability to process activity more quickly than you can. Suddenly you'll find you have more time in the day to focus on more pressing tasks like future planning and the general running of your business.

Man-hours

You simply don't need to do everything yourself with an EPoS system to help you and take some of the load off. Not only can it save you time personally, it can also help staff to complete their tasks faster by doing the job of several people and therefore allowing you to rethink staff levels.

Reports

Using the EPoS reporting tool to guide you, it won't be long before wise business decisions become apparent. Past procedures can be compared to newly trialled practices, so you know exactly which operations are saving you time and making you money. Preparing for the future is far easier when you have this resource to back up your plans.

Products

Wasting time and money on products that aren't right for your business is frustrating at best. By planning your stock list using insight gained from your EPoS system you will be more likely to give your valuable time and business space over to products that actually sell, and sell well.

Enhanced service

An EPoS system can hold a great deal of supportive product and customer data that gives your employees the ability to really serve customers to the best of their potential. Keeping your customers happy is a sure fire way of maintaining loyalty and keeping sales levels up.

Personalised marketing

Dig deep into your EPoS system and you will find a wealth of customer insight allowing you to offer your consumers exactly what they are looking for. Spending habits, past purchases and browsing history can all be applied to special offers that hit the mark when it comes to your customers' wants and needs.

Returning customers

With an EPoS system you can build your business around convenience, such as faster service, enhanced service, self service and so on, all through an omni-channel approach. By making it easy for customers to spend with you, you'll more likely find they will spend again and again.

Industry insight

Point of sale provider, Vend, has helped many a customer to develop their business on several levels through EPoS software.

Before EPoS, Vend customer Fashion label Ingrid Starnes managed two stores and 10 stockists by hand through a system of online spread sheets that needed to be manually updated every time she did anything. Now the brand uses an EPoS system to run all its operations, from the front counter to the back office, and online. “When we make a sale in-store in Vend it updates our online inventory numbers and sends the sale invoice through. We don't have to do anything except look after the customer,” said Ingrid. Being online and able to sell clothes at all hours to the whole world was a key part of the business plan which is also made possible through EPoS which helps to manage stock, orders, returns and shipping. It is a significant part of the company's turnover, Ingrid reports and adds: “It's such a great feeling to wake up and see orders from Italy or Japan or England that might have come in overnight, and we just love checking in on Vend, they take sales info and make it really easy to understand and lovely to use.”

Meanwhile Petal Cupcakes for example took advantage of live in depth sales data to help make effective decisions about the running of its store. Laurel Watson from Petal Cupcakes explains, using EPoS “has let Petal easily expand our retail and wholesale sales information so that I can get real time figures on the business from wherever I am, it's great. There's no complicated maintenance and there are no expensive support contracts. It all just works, so we can get on with running our store”.

It's not just modern companies that are taking advantage of EPoS. Traditional DIY retailer store, Cotham Hardware, which won DIY Week's Hardware Retailer of the Year is well aware of the pressures facing high street stores today and is revamping in order to keep up with expectation. As part of its improvements the store's owner Dave Jenkins is bringing in a new EPoS system and partnering with an online selling tool that links orders through to the EPoS that will handle not only sales order, but also help with dispatch and invoice management. He comments: “We're an old-fashioned independent DIY retailer with the service and knowledge that goes with that, but this is backed up by modern-thinking, new technologies and marketing”.

If you'd like to find out more about the advantages of an EPoS system or upgrading your existing solution, expert help is available.
Contact us for advice on the right EPoS system for your environment and receive a free quote.

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Please note that the budget required for the purchase and installation of a Full EPoS system starts from £1300 for hardware and software.
The prices can be considerably higher depending on your requirements.

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