The right ePOS till software can do more than just ring up sales

The right electronic point of sale (ePOS) till software will teach you how to make more money. While traditional till setups are focused on satisfying basic transactional needs, modern versions of electronic point of sale solutions reach and connect every part of your business to boost your bottom line.

These easy-to-use systems can still perform every transactional task required to meet the needs of increasingly diverse customer expectations, but you also get digital advantages that improve your cost efficiency, including:

Always accessible, all-in-one management platform
Discrete hardware setup
Accurate digital inventory
Product flexibility
Employee management solutions
Customer and sales analytics

These features aren’t just digital decorations tacked on to an electronic till, they’re a better way of doing business. They have the potential to change the way you approach management. But, in case you were concerned about overlooking the essentials, the heart of every good ePOS till software is still safe, flexible, and efficient customer transactions.

The essentials, and the new essentials

Electronic point of sale (ePOS) adds the internet advantages of the digital era to the fundamentals of a traditional till setup. You still have the cash drawer and mobile payment devices, and all the hardware options necessary to print receipts, create barcodes, weigh items, and scan products, but now they’re more flexible and better able to serve customers who no longer rely solely on cash.

In fact, the leading ePOS systems should still allow you to do all the following transactional essentials:

Offer refunds and exchanges, discounts, and customer loyalty incentivesAccept chip, contactless, and swipe payments, as well as cashCustomize and accept gift cardsDeal with multi-level, inclusive, and fixed-amount taxes

In addition to these must-haves, modern ePOS till software includes a range of business management and service features that help you better run your company. These programs and functions are all connected to your POS devices so you can run your business with the same devices you use in-store every day.

The best of these software features are listed below.

1. Always accessible, all-in-one management platform

Locating all your management and service functions on the same platform is more than just convenient, it’s powerful. Cloud computing has made it easier for any business to access the best software without needing IT expertise, and at an affordable on-demand subscription price.

Connected features can share data, allowing you to better understand how the performance of each facet of your business relates to revenue. Making everything accessible via any internet-connected device means you can work remotely from any time or place that best suits your success.

2. Discrete hardware setup

Modern ePOS replaces clunky cash registers with mobile iPads so you can reduce the barriers between you and your customers. All the hardware mentioned above is discreetly connected by USB or Bluetooth so it doesn’t take up any valuable floor space. And your staff can complete transactions or demonstrate product modifications with handheld devices that give them a full range of natural movement.

The low profile of modern ePOS equipment means you can design your retail space to enhance the customer experience, and not trap you and your team behind a bulky counter.

3. Accurate digital inventory

Here’s a confident prediction about the future of retail—digital inventory is going to become the most loved resource in every manager’s ePOS toolkit. Converting your stock management to a digital system takes the guesswork out of balancing your books, and the time commitment out of running an accurate stock take.

With the right ePOS till software, you can:

Track inventory in real-timeSet up stock level alertsAutomate purchase ordersTrack items across multiple locationsCreate individual unit measurements for bulk items

These features alone can improve your bottom line by reducing waste and accurately calculating how your spend turns into profit. 

4. Product flexibility

Once you embrace digital inventory, you can begin to do more with your products. You can bundle items together to boost sales of flagging products. You can offer on-the-spot discounts and incentives without losing track of your margins. And you can produce your own barcodes and labels in order to customise service without compromising your professional standards of presentation.

5. Employee management solutions

A modern ePOS till solution can improve the working lives of your staff, as well. By giving them password access to parts of your all-in-one platform, they can take responsibility for their own rosters and timesheets, tips, holiday and personal leave, and training requirements. 

You can also use your ePOS till software to monitor the performance of your team. You can assess collected sales and customer data against the combinations of staff that work during particular times. This kind of insight can be beneficial in building your best team of talent and maximizing peak retail periods.

6. Customer and sales analytics

Employee performance is just one small part of the possibilities available to managers if they install ePOS till software that includes data and sales analysis. As everything on a modern POS solution is connected by the same all-in-one platform, every piece of information that enters the system can be compared. So, you can measure purchase order spend against monthly profit, quickly identify your top-selling products, and more accurately judge the impacts of marketing efforts.

These insights can lead to practical actions that improve your bottom line. Fully customizable to your own business, they can reveal exactly how your business makes money, and therefore how it could make more. 

ePOS till software can improve your working life

All of the advantages listed above—the data analytics, the product and staff management features, and the digital inventory—give you a level of control over your entire business that a traditional till system could never match.

More importantly, the fact that these modern systems are available from a single platform, across any connected device, and whenever you’re ready to use them, means you can work whenever it best suits you.   

The ePOS solutions created by talech can take your business to the next level. Our team can customize a system to suit your team, your products, and your vision, and they will stay connected with you as you grow and your needs change. Reach out to us today to sign up for a demo and to learn more about how talech can be your valued POS partner.