How does the EPOS System Work?

The EPOS system is a method to process transactions electronically quickly and easily. The system is surprisingly versatile. At its most simple use, it can arrange sales and accept all types of cards and digital payments. This requires a POS software and a card reader.

The EPOS can also make the portable payment affordable, and can be run on a smartphone or a laptop.For large retailers electronic point of sale can be operated with a barcode scanner, touch screen input, and scale.

The beauty is that the EPOS technology is applicable not only to ecommerce giants, but also to startups and local businesses running on basic resources. This digital solution emphasises convenience and efficiency for everyone: the sellers, and the buyers.

What is the Difference Between EPOS and Standard Cash Deposits?

Without EPOS/card readers, you are likely to lose out on substantial purchases. Think of even those spontaneous sales, when a customer decides to purchase something on the spur of the moment, with his card or just with the smartphone; if you do not provide all the payment options, then you may risk the chance of losing this sales volume.

Clients

unilever
yandex
danone
cisco
trivago
mandara

The Reasons to Install an EPOS System:

  • More satisfied clients - increase of loyal customers and brand awareness;
  • Availability of a POS spot, which does not rely on sales staff, saving in labour costs.
  • Wider opportunity to demonstrate individual approaches, to provide more information about the goods/services. An user interface, with a set of filters/secure payment, time-saving, and client satisfaction;
  • All data is digital - automotive reporting and stock updates;
  • Clear statistics about the sales key metrics and the buyers’ behaviour for future decision-making.

The EPOS system allows you to quickly identify which products are sold successfully, by sending an hourly or daily reports.

With this simple function, companies can simply increase orders for highly profitable popular products and reduce non-marketable inventory. With an automated analytical system, we can respond quickly to changes in customer behavior and improve efficiency.

The monitors, and scanners with touch screens, are two important parts of the EPOS system, since customers are actively involved in the purchase. From this point of view, transactions will be made more quickly and will benefit both parties. As a result, satisfied customers, finding such methods easy and simple, are more likely to return to business and generate more profits.

Efficiency is also a key advantage - for example, in a restaurant, the EPOS system can send an order from a menu directly to the kitchen at a faster rate than manual processing.

The main advantage of the EPOS system is that the information about sales is automatically saved. You no longer need to panic about losing documents or papers. The EPOS system will have it. By reducing the wrong items, and increasing the exact storage, companies are placed in locations that are reliable for both customers and suppliers.

A great advantage of the EPOS system is that it can be linked to the commercial website and provide customers with real-time inventory updates. This control over knowledge and inventory can result in greater benefits, as customers feel involved and are encouraged to buy again.

Once you have installed the electronic point of sale software, you can use it to follow the activities of the staff and see who did what and when. The program can also eliminate the rigamarole of monitoring staff performance. This means that companies recognize the best staff, identify weaknesses and create a competitive environment.

The EPOS system can be easily learned, easy to use (completed in a few seconds). We can develop a small application to run from the smartphone or tablet - or even make it compatible with Apple Watch.

Here are some of the Ways in which it can Revolutionise your Business, Reduce Costs and Increase Sales:

  • Healthy cash flow: reduction of personnel leads and costs.
  • Accurate and real-time inventory control: since the EPOS tracks inventory, you can always reduce the risk of waste and stagnant items by putting it on top of inventory.
  • Improved customer experience: accept the way the customer pays, send a digital receipt and complete the purchase in seconds.
  • More accurate prices: the software can store offers, such as discounts and happy hour transactions, so that staff can present the price accurately at any time, and customers can always get the exchange they expect.
  • Real-time sales analysis: track employee periods and sales, and capture the outline of what is most appropriate for businesses, customers and sales.

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Integrate with other Software such as Inventory and Accounting

As EPOS is completely digital, it can be easily integrated with other software. We can develop a complex system with a variety of useful apps to make the most of your EPOS system:

  • run online accounting;
  • improve the analysis of business, inventory and profit margins;
  • show important facts and figures about inventory and profit status at any time.

EPOS is a small change that makes a big difference to achieve the success of your business. Here are the links to some related examples: Mobile Payments, Poydem.

How much does the EPOS System Cost?

Speaking about the SaaS (ready to use solutions) rates vary according to the size and nature of the business. For bespoke EPOS it’s difficult to clearly understand the costs involved, before the exact software requirement specification for the entire system is not completed.

For beginners, many companies advertise the reference prices on their website, install it and accumulate it in the add-ons as time passes. Some providers cite individual components and other providers cite the entire system. Everything can be a bit confusing.

Structure of the Costs for SaaS:

  • For entry-level systems like the iPad EPOS, it costs 1,000 pounds per 1 point. This includes everything you need to start: Apple iPad, receipt printer, cash drawer, card machine, installation and training.
  • For industry-specific medium systems, such as EPOS Direct ED 910, it is 1,500 pounds per unit.
  • For advanced projects, with multiple terminals coordinated to meet the needs of your business, £ 3,000 +

EPOS Hardware Price

The terminal is the heartbeat of the system. This is where the computer's processor is located, and is the means by which the user enters data into the system through the touch screen. The price starts at around £800.

Most companies also require a cash drawer. These can be purchased for only 50 pounds. For wireless barcode scanners it is expected to pay in the region of £150. The thermal printer for the receipt will cost another 150 pounds. The LCD screen for customers starts around £200.

The price of a credit card machine, sometimes called a PDQ terminal, varies according to the number of transactions that are processed. For example, Worldpay offers two purchase options for a radio. In subsequent transactions you can pay a 2.5% plus 4p fee to a single payment of 228 pounds. Rates of 23 pounds per month, with a charge of around 0.5%.

Many companies can quickly choose the basic ready-to-use solution to save money, but the functions and integration will be really basic.

With respect to EPOS, it is useful to first consider the requirements. A small additional investment can save money and time in the long run.

As there is no "one size fits all" solution, you must talk to the supplier and negotiate the best deal for your business.

Magora works with the next level of software. We can build high-loaded enterprise level bespoke system: quick, invulnerable, wide-functional and flexible. For simple one, we strongly recommend stick to the SaaS: it will be quick and cheaper.

Software Development Estimation

If the terminal is the heart, the EPOS software is the brain. SaaS with limited set of functions available to the user and the degree to which reports and analyzes can be made in the back-end. The program can be purchased completely for £ 300 - £ 500 or subscribed to a monthly fee of around £40. Again, the price will vary according to your needs.

The main software packages are available for various industries, such as restaurants and bars, coffee shops and hairdressing salons. These include industry specific features, such as table management and booking tools, but it will cost a bit more, but will provide a completely customized experience. The Magora team can also develop bespoke software to meet the special needs of your business. Read more about bespoke software development.

Many EPOS ready applications are now available for the tablets. These are cheaper than traditional software packages and have benefits based on the cloud, so when you connect to the Internet, it will automatically update and backup important data.

The cost of a tailor-made solution is a subject to consider, based on the necessary functions, quantity of POS points, existing equipment to be integrated in the EPOS software, etc.

epos system development with Magora
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To equip your corporation with the EPOS advanced solution, which will work on a wide territory, connecting all the local branches and the POS, located in different countries in one organism with cross-synchronisation, cloud technologies and strong security, you need to order the bespoke EPOS solution. At Magora we are competent to develop and implement such projects.

Installation and Support

Most basic out-of-the-box systems can be easily configured. For complicated systems with multiple network terminals, you need an expert support and training for your staff.

Magora provides the installation (we can work side-by-side with your technicials - even if you are creating your own hardware for it). All the technical nuances will be described in the manual, the legacy code is part of our corporate standard. And we organise the post-launch trainings, maintenance and upgrades to the created software systems. We are working with the majority of our customers on the long-term basis, helping them to integrate new features and spread the expansion on the global market. Having several branches on the different continents, we are ready to work with your team in the UK and Europe, Australia and America, this list is limited only because we haven’t got any clients on Mars yet.

Ask an Expert Advice

Describe us your wishes in detail and we’ll work out a structured description of your requirements and will estimate the budget accordingly. Do not hesitate to contact Magora today.

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