It’s normal for small business owners to feel overwhelmed when selecting the perfect EPOS system for their online or brick-and-mortar stores. With a variety of options available, many boasting exceptional features, deciding which is the best option to choose is not easy. This is a very individual decision, as every business has its own working capital requirements and operational needs.
You might not need a comprehensive EPOS for a small business or online store. Likewise, a large-scale company may need a feature-packed retail point of sale software. However, nearly each EPOS system comes with a set of features that can help boost your business’ growth. Here are 8 such advanced features that make EPOS systems a great tool for your business.
Multiple Payment Methods
The primary goal of any EPOS is to facilitate smooth, seamless, and contactless payments. This feature is a must in the post-pandemic world. Your customers are more comfortable making payments via their mobiles or credit cards instead of cash.
After all, cash payments are so 1990s. The latest point of sale systems come with a feature that allows your customers to split payments across various transaction methods. They can pay half the amount through Amex cards and the remaining half in cash. Customers are highly likely to return to your store if they believe your payment methods are convenient and safe.
Return and Refund Policy
Customers want to shop with businesses that have a customer-friendly return and refund policy. It’s important that you select a POS system with a clear return policy so that your customers face no issues in returning items and collecting their refunds. The ideal EPOS has easy-to-understand return policies with flexible refund options.
Unless you are running your business solo, you will need an EPOS that allows you to register multiple users, making it easy to track the performance of each team member. Each person on your team will have their own individual account. The system should have a separate account for each user. You will set the access rights for each user and decide who can access which parts of the system.
A Customer-Facing Display
Customers want transparency in their transactions, be it mobile payments or in-store transactions in cash. A customer-facing display allows them to monitor the transaction while it is processed at your store. This way they can point out any error in order placement or in the payment. If the feature is too expensive for you, you can give it a miss, but it makes your EPOS more transparent and safer for your customers.
Bulk Product Uploads
The modern point of sale system has a bulk import feature that allows store owners to import products in large quantities. However, there are a few outdated models that still require you to upload each product manually, one at a time. This can be super tedious and a giant waste of time. The ideal POS system has a bulk import function that makes it possible for you to import all products at once.
Another important feature of a great EPOS system is barcode features. The best systems will print barcodes for each product so that it is easier for you to track your inventory. Every time a product enters your inventory leaves the warehouse, or is sold, your inventory system will be updated automatically. You could use other printing or labeling methods for tracking your inventory, barcodes are by far the easiest and most flexible approach.
Some retail POS software systems also allow you to record your customers’ history. Not only does it help you to authorize returns, but keeping records of customer history can be very helpful in developing and improving your marketing strategy.
This will allow you to track previous purchases and advertise products to your prospects accordingly. For example, if a customer bought a couple of pairs of sweat pants from your store, you know they are interested in leisurewear and you can recommend similar items they may be interested in buying.
Employee and Customer Reporting
A POS system does more than record transactions and executes sales. It keeps a record of your employees’ and customers’ performances. Both features are incredibly important for business growth. Based on these reports, you can come up with marketing strategies to build engagement with your target audiences.
Similarly, you can track each employee’s performance and offer them special rewards or help them to perform better if needed. You’ll be able to identify who is your top-performing employee, who needs to improve and whether your staff is achieving the sales targets you’ve set.
Every retail POS system comes packed with a range of features, and these were just a few of the most prominent ones. Keep an eye out for these features when choosing the right system for your business.