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The need to knows of Retail ePOS Solutions

Micross Logic News

Cheerful family standing at the cash counter buying groceries at the supermarket

Most modern retail businesses will have retail ePOS solutions already in place, but is your solution offering you value for money and helping your business to grow? Have you ever considered an ePOS solution that synchronises and integrates with your accounting solution and the opportunities it could open for your business?

When you review and evaluate the different aspects that are needed to run a successful retail business, it can sometimes be tricky to identify what is working effectively and more importantly, what isn’t when using a standalone ePOS solution. An integrated retail ePOS solution can give you a complete view of your processes, promotional success and user management control, that a standalone system wouldn’t be able to offer.

Cropped shot of female cashier staff standing and working with retail ePOS solutions or point of sale machine at counter in supermarket.

A company and solution go hand in hand

Before you even start to consider a new retail ePOS solution, you need to be aware that your investment in a new solution should be more than just the product you’re receiving. You need to choose a supplier that can not only provide a retail ePOS solution for you, but can support and work with you post-integration to work with your requirements and needs.

Micross Logic do not believe in a ‘one size fits all’ approach, because business requirements and specifications differ from company to company. Micross Logic work with our customers to identify what your business requirements are, so we can offer a more tailored solution and make sure your business really benefits from a holistic integrated system.

Workers at an IT company working on a computer
Things to consider when choosing a retail ePOS solution

There are many factors to consider when choosing a retail ePOS solution and we understand that the amount of information and solutions available can seem overwhelming. The first question you need to ask when considering a new ePOS solution is the benefits that it offers and if it will help to grow your business.

Identifying where your retail operations need improving, and then aligning those issues with an epos solution that can help you to overcome those issues, helping to maximise sales and increase customer satisfaction, means that you are most definitely onto a winner. An integrated ePOS system can help to streamline your processes and reduce administration, which in return will increase convenience for your customers, improving their shopping experience, which then leads to an upturn in sales.

I’m sure most retailers would also see the benefit of having a responsive and intuitive user dashboard, with custom menus designed specifically for your business, not only benefiting your till operatives when trying to find the information that they need, but also improving your customers experience when at the point of sale or when just asking about pricing or stock enquiry.

retail ePos solutions terminal in the shop. Ready for work, Close view

Access to live data with retail ePOS solutions

One of the key benefits of having an integrated retail ePOS solution is being able to access live data at the point of customer contact. This means not having to wait for the customer or stock information, and having accurate and up to date data, reducing your customer waiting and queuing time. By integrating your ePOS solution with your accounting solution, your data will be up to date, accurate and won’t inhibit your customer journey when they are in store.

This includes real-time access to:

Customer balances

Customer credit limits

Inventory data

Pricing

Customer price-lists

Promotions and loyalty scheme data

Barcoding

Business concept with copy space. Office desk table with pen focus and analysis chart, computer, notebook, cup of coffee on desk.Vintage tone Retro filter, selective focus.
A centralised hub for information

Within the fast-paced retail environment, retailers need a retail epos solution that is secure and reliable, and by investing in an integrated ePOS solution, you will be working from a single database, storing your data in a single system, so you can ensure consistency throughout your business. This seamlessly shared source of knowledge empowers your front-facing staff to know that the information they are working with is accurate and up to date at any time, reducing issues surrounding miscommunication. This central hub of information can also be used across multiple locations, to enable stock levels at each store to be updated.

Valuable sales and inventory information

In-store customer experience should not be the only benefit of an integrated ePOS solution. Retail ePOS solutions should be able to provide you with important sales data, to enable you to focus your attention on improving your demand forecasting and stock replenishment.

Detailed reports will give you a 360-degree view of your business – including which products are selling fast and which products are slow-selling, allowing you to make more informed decisions. By using these detailed reports, you will be able to track profitability by a terminal, by product and by the department, helping you to improve scheduling, operational efficiency, and profit.

By analysing these kinds of reports, you will be able to assess and answer commercial questions, such as, are your marketing activities working? What are your peak selling hours? Do you need to increase staff during those peak times? Can you streamline your opening hours to increase revenue?

Further to this, these reports can also help with your inventory management, you can use predefined system alerts to help you operate at the optimal stock level. This will lessen your stock holding and help break down inventory costs.

Lady in a retail outlet holding a tablet showing some retail data
What really matters?

However, the most important factor for any retail business is customer satisfaction and meeting the demand of your consumers. To allow your business to make the best decisions in regard to your customers, you need to have accurate and reliable data. By choosing the right ePOS solutions for your business, you can put your staff in the best position to meet customer demands effectively and efficiently.

By choosing a solution that offers user-friendly interfaces and that can be specifically configured to suit the needs of your staff and business, you will be able to accelerate your transaction processes, improve accuracy and help to exceed your customer satisfaction levels.

By choosing a modern integrated solution, you can use the data collected to develop meaningful and customised marketing campaigns to target your customers with the right incentives at the right time, helping to boost repeat custom.

If you think that an integrated ePOS solution could benefit your business further, we look forward to hearing from you.