Pros and Cons of EPOS vs POS Systems

As businesses grow in scope and product or service offerings, their operations will inevitably become more complex. This is especially true in industries such as retail, where companies will need to manage a growing number of locations, branch out into omnichannel systems, and more.

Fortunately, modern solutions are available for these modern challenges. POS systems, and more recently EPOS systems, are available for companies that need to coordinate many different business processes during times of change and expansion.

But what exactly are these two systems? Are they completely different? Two versions of the same thing? And most importantly, what are the pros and cons of each? In this article, we’ll compare and contrast EPOS vs POS systems.

 

What are POS and EPOS Systems?

POS stands for “Point Of Sale”, and EPOS stands for “Electronic Point Of Sale”.

From this definition, it’s tempting to think that EPOS systems are just electronic versions of POS systems, or that POS systems are just cash registers and nothing more. This is not quite correct; a cash register stores money, gives change to customers, and keeps track of sales transactions. A POS system is computerised, and supported by programs that provide a few additional functions such as recording of business data and tracking of the store’s inventory levels.

In this case, what differentiates POS from EPOS?

 

Differences Between POS and EPOS: Pros and Cons

One of the main benefits of EPOS systems is that they provide a very high level of integration, coordination, and communication between different business systems. To illustrate, with a POS system, you would need to manually enter each sale and its subsequent ripple effect on inventory levels, revenue, and business forecasting. The information would be there, but you would need to encode it manually, making human error a critical factor.

But a good EPOS system, after having been set up properly, would update this information within itself automatically, and instantly make the appropriate changes to all databases. It would also allow your staff to check live product information and stock inventory from any location across the company – an invaluable tool if you are running an expanding business with multiple branches.

This is just scratching the surface of what a good EPOS system can do for your business. Other benefits abound as well. Let’s run through a few of them.

 

Security

Because EPOS systems are not only connected to the cloud but also integrate and manage many different systems across a business, a security breach or cyber attack on an EPOS system would – if successful – cause significant damage to business operations. The system essentially puts all of your eggs in one basket in terms of where your data is stored, which some users may regard as a downside of EPOS as opposed to a more “insulated” POS system.

Of course, an advanced EPOS system would be equipped with protective measures that would defend it – and your business – against such attacks. Alongside this, a good system provider would also offer prompt support and troubleshooting, and timely maintenance.

 

Payment Options

A POS system typically allows a few basic ways for customers to pay for products and services: cash, debit cards, and credit cards. Older systems may also not be able to process online payments or contactless transactions.

EPOS systems, on the other hand, will be able to process all forms of payment. What’s more, as stated earlier, the system would instantly update your business records at the moment any form of payment is made. The benefit here is clear: a faster and more convenient process for both the buyer and the seller.

 

Connectivity and Coordination

As mentioned earlier, possibly the most noteworthy feature of an EPOS system is that it is highly connected and integrated. Such a system would be able to coordinate tasks across multiple systems in real time: sales reports, inventory management, all forms of payment, collection of customer information, tracking of promotions, and upselling when appropriate. Coordination between all of these functions is something that is absent in older POS systems.

 

Accessories

If you’re going to use an EPOS system, you may find it useful to choose one that contains lots of extra functions designed to make your business and transactions run more smoothly. To give some examples, you’d probably want a system that can keep track of:

• Customer sales history and preferences
• Promotions, mailing lists and other marketing materials
• Multilingual and international currency transactions
• Daily or weekly reports
• Maintenance schedules
• Admin functions such as employee time logs

The best EPOS systems provide all of these functions as a matter of course.

 

Conclusion

While POS and EPOS systems each have their own upsides and disadvantages, the latter stands out as a way for expanding business to organise and connect all their systems, thus maximising efficiency and improving the bottom line.

Eurostop provides clients with advanced EPOS and ERP systems to help optimise their businesses. We also have a mobile retail app that helps you manage your stock.

Want to see some real-world examples of how companies use Eurostop solutions to coordinate their operations during busy periods? Check out these case studies. Once you’re ready to get in touch with us directly, you can do so here.