Do you want to expand your small business into a larger one and want to take it to another level? If so then you definitely need to add some basic input into your business. One of them is EPOS system.
Here is a guideline of what to know when thinking whether to hire or lease or purchase an EPOS system. Each of them has the benefits and disadvantages. Experiencing your business needs will aid you to take the decision whether hiring or leasing is apt for you.
What is EPOS?
The full form of EPOS is Electronic Point of Sale. This is a digital system which is computerized mostly used in retail outlets, shops and restaurants. Basically it is an electronic method of letting public pay for purchasing commodities or services.
What is the function of EPOS?
EPOS systems encompass of computer hardware and peripherals and software which is rightly suitable to a position of sales environment. This gives a quick and effective way of handling with consumer card’s payments and provides you to supervise stock and aiding to emphasize stock levels of top consuming goods so you can make sure you have sufficient supplies.
Simultaneously it will also illustrate product lines which are not performing so well, providing you to take clever decisions along with the advantages of the last sales and stock lowdown.
Business advantages of EPOS
- Financial correctness – one major benefit of EPOS system is the improved financial correctness in the time of charging clients. Conventionally businesses depends on the staff’s capability to estimate sales transactions correctly which also can direct to the mistakes. Because of this clients are overcharged decreasing the probability of them recurring, or undercharged as a result in a loss of income.
- Answerability – electronic point of the sales systems provide businesses to correctly check and record the activities of staff. Being capable to locate which staffs were in charge for particular transactions be able to prove enormously helpful for the employers.
- Speed and effectiveness – EPOS systems hugely develop the speed and effectiveness of transactions which might plea to clients and aid the employees highlight on helping more public. This will develop your customers’ overall knowledge and give confidence do again custom in the prospect.
- Stock supervision – Modern EPOS systems are also be utilized to handle stock. As businesses have the capability to fast review their recent amount of stock and simply identify locations in which a larger amount of stock is needed. The benefit of an automated EPOS system is what it can keep a noticeable level of time comparing to conventional, physical stocktaking operations.
- Reporting – An ultimate benefit of EPOS system is their capability to create a diversity of business presentation reports. These reports can variety from a basic analysis of every day or annual profit margins to recognition of the top selling goods or services in a company’s range.
Hiring or leasing – which is better?
Most of the companies which have money register for deal will have package which is available and provide you to lease or hire a system. These free up your money flow as you don’t need to pay a big amount open.
You can hire an EPOS system as of as less as £80 /week or lease from as less as £170/ month, but it depends on the supplier. In support of this cost most of the companies might install a standard system, consists of one till and primary hardware and software mechanisms. These are highly available and you can get EPOS till charge and other hardware mechanisms from £24.99/month.
Benefits of renting or leasing
You may get large advantages by renting or leasing the EPOS systems fairly than searching a till for the sale. The benefits are;
- Payments are generally set and tax deductible
- No big straight payment
- System upgrades are generally incorporated
- The provider will look out of repairs
The advantages of the EPOS hiring or leasing are not a monetary problem. Besides these advantages of not having to endow a big amount of money into the purchasing of this system and there are some extra benefits like warranties for the time period of the lease or hire.
This signifies that if any of the hardware ever breaks, the service provider will prepare it directly and at no added price. Frequently system up gradation of software and hardware are also involved in the price of leasing or hiring.
It’s also crucial to know that precisely what you require from the EPOS system. Systems which are inexpensive to lease or hire are typically basic, and frequently the price of adding mechanisms to the hire or lease contract can turn the price up considerably. Being obvious on needs can aid to search the perfect EPOS system for the accurate price.
Obtaining the best deals
Hiring an EPOS system is so cost effective but ensures you know earlier what features you would want your systems to have, like as types of reports, record keeping, the portable PDQ machines and the amount of tills. These features and added machineries you need, and then you have to pay more for the entire installation.
Some major industries such as restaurants and hospitality industry can hit for deals because they need a figure of various features and portable devices. Go and have a look with service providers to watch if you be eligible for this kind of deals, and ensure to ask for some unique offers if there any.
Buying or leasing an EPOS system
In a total service of the EPOS system is little out from your price limit, you can go for a lease contract with a provider. Maximum leasers run for 18 months and some of them let you remain your EPOS system even after that. These provide you to maintain the flow of your cash free and balance spend per month.
In contrast if you seek cash registers for selling you will typically search future deals and price deductions. This is value the extra initial price as you are capable to do what you satisfy with the software and hardware.
Over to you
If you wanted to know more about tills for selling or about cost to lease the EPOS system for the business of yours, feel free to tell us. With detail information hope you can settle on your business needs and choose pre-screened supplier to have in contact with you.
These ideas can definitely help you to expand your business into a large one. Write us if you want to know anything more regarding this topic or for feedback comment in the box below.