Expert Recap: What is EPOS? 9 key facts you should know

Whether you're in retail, hospitality, or omnichannel sales, an Electronic Point of Sale (EPOS) system is more than just a digital cash register. It’s a powerful suite of tools that drives efficiencies, insights, and customer experience.

These systems are designed to streamline transactions, helping stores to manage stock and provide valuable insights into sales performance.

According to recent findings, 28% of UK merchants still rely on outdated or legacy POS systems, These often lack modern payment methods like digital wallets or QR code acceptance.

🗣 What Industry Experts Say

Industry commentators highlight how outdated POS systems are costing retailers billions in lost sales due to queue fatigue and lack of modern payment methods

In this expert recap, we will delve further into components, benefits, and impact on businesses.

1. More than just about payments

EPOS systems integrate hardware (touchscreens, scanners,printers) with software that manages a store’s sales, tracks inventory, customer returns, and CRM. They’re no longer just transaction devices; they have become mini operational hubs.

2. How do EPOS Systems work?

EPOS solutions cover a number of functions that are scalable and highly customisable for

• Sales Processing – tracks purchases, tracks payments, handles all payment methods
• Stock Management – records goods delivered to each store, tracks inventory and pricing
• Sales Performance and Reporting – instant reports such as product popularity staff activities
• Customer Data – the power behind customer loyalty schemes, buying patterns, promotions and more

3. Components of an EPOS System

An EPOS system typically consists of several key components:

• Hardware – includes devices such as touchscreen terminals, barcode scanners, receipt printers and cash drawers. These components work together to facilitate smooth transactions.
• Software – the software is the brain of the EPOS system. It manages sales data, inventory levels, customer information, and reporting functions. Many EPOS systems offer cloud-based solutions that allow for remote access and real-time updates.
• Payment Processing – EPOS systems integrate with payment processors to handle various payment options and methods, including credit/debit cards, mobile payments, and digital wallets.
• Inventory Management – one of the crucial features of EPOS systems is their ability to track inventory levels in real-time, alerting businesses when stock is low and helping to prevent overstocking.

4. What are the benefits of EPOS?

• Increased Efficiencies– EPOS systems speed up the transaction process, reducing wait times for customers and allowing staff to serve more customers in less time.
• Improved Accuracy–by minimising human error associated with manual entry and calculations, EPOS systems enhance the accuracy of sales data and inventory levels.
• Enhanced Reporting – EPOS systems provide valuable insights through detailed reports on sales trends, customer behaviours, and inventory turnover. This data helps businesses make informed decisions.
• Better Customer Experience – with quicker transactions and personalised service based on customer data, businesses can improve overall customer satisfaction and loyalty.
• Scalability – as businesses grow, EPOS systems can easily scale to accommodate more locations, more users and more functionality.

 5. How does EPOS support retail growth?

Retailers using EPOS systems typically see a 20% increase in revenue, thanks to 25% faster till transactions, less errors, and smarter stock management.

6. How does EPOS report on stock levels?

Stores leveraging EPOS analytics reduce excess inventory by 28% while maintaining >99% stock availability. This translates into better cash flow and fewer lost sales, helping to streamline the whole Goods For Resale operation, resulting in a well organised stock room, minimising out of stocks.

7. How can EPOS drive up retail profits?

EPOS systems provide rich data for pricing, promotions, and demand forecasting. Companies using EPOS analytics can see up to 14.5% improvements in profit margins through dynamic pricing optimisation with 83% of retailers viewing customer and operational data as essential for long-term success.

SPOTLIGHT ON CHARITY RETAIL

When it comes to Charity Retail, EPOS supports in driving extra income for stores.

• Charity Donor Management – stores donor information, links donations to individuals for Gift Aid
• Gift Aid Integration – automates Gift Aid and reporting, generates HMRC records, prints donor labels and barcodes for resale tracking
• Reduces admin time by generating HMRC compliant reports
• Tracks donated stock as well as bought in and new goods

With Charity Shops relying on the income from every sale, an EPOS system makes a huge difference to profitability, providing extra revenue for their causes.

8. Preventing fraud with EPOS

EPOS systems help prevent fraud through real-time data mining, using artificial intelligence to spot unusual transactions and spending patterns. As it continues to learn, trends and anomalies will be spotted and analysed. Automated alerts can be sent where fraud is suspected. In this way, businesses can pre-emptively prevent fraud and heighten their security.

9. Which consumables are needed for EPOS?

EPOS systems rely on a range of consumables to operate and essentially produce a range of “paperwork”. Working with a trusted supplier who has industry knowledge of EPOS systems and experience of the consumables required is key to an efficient instore operation.

• Receipt printing – thermal till rolls such as Everoll and adhesive receipt labels
• Labelling and tagging – barcode labels, price tags, promotional stickers
• Card payment supplies – printing of customer and merchant receipts

Final EPOS Takeaway

As technology continues to evolve, the capabilities of EPOS systems will expand, offering even more powerful tools for business management providing real time insights, fraud protection and better customer experience.

🗣 Industry Comment

“In today’s fast‑paced retail environment, the buzzwords ‘big data’ and ‘AI’ are not just jargon - they’re game‑changers. And when you mix in the capabilities of modern Electronic Point of Sale (EPOS) systems, you get a powerful trifecta that’s reshaping the retail landscape.” Edward Nick, in “The intersection of big data, AI, and EPOS: A new era of retail intelligence.”

Find out more about the range of EPOS consumables we provide for Retail, Charity Retail and Hospitality by sending a quick email to [email protected]