Key Questions to Ask When Choosing an EPoS System
Contents Will the EPoS system grow with you? Will it integrate with an ecommerce website? How can it help you manage your stock? Are training, support and software upgrades available for the system? Can the system go mobile (PoS)? Does the EPoS system enable better customer service? Does it give you all the reporting and sales analysis tools that you need? Where is the software stored and is it secure? Where can you use it? Does it allow you to run promotions and a loyalty programme? 2 3 4 5 6 7 8 9 10 11
Choosing an EPoS system is a major investment for any retailer, so before diving in and buying one, it s important to determine what you want it to help you achieve first. For example, do you want to create a loyalty programme for customers and can the EPoS system manage this process? Here is some impartial advice to help you ask the right questions to find the most suitable EPoS system for you. 1
Will the EPoS system grow with you? Don t just think about the here and now. It s likely you have a vision for your business, an idea of where you want to be in three or five years. How does that change from today? Can the EPoS system you deploy today cope with the changes you have planned for the business in two years, let alone five years? Whether it is launching new sales channels (such as an ecommerce site or selling on ebay or Amazon), implementing mobile PoS or opening new stores. 2
Will it integrate with an ECommerce website? It s no secret that the number of people shopping online is increasing. Even if you don t have an ecommerce site yet, you may want to consider one in the future. The best EPoS system will help to support you online as well as in store. Things to consider: Integration of stock in store with the stock on your website in real time, so you only sell what you actually have If you sell via additional sales channels such as Amazon or ebay, will it also integrate with these in real time? If you have an existing website, will the EPoS systems provider integrate with third party websites and not just sites on their own ecommerce platform. This is often performed via a link known as an API or SOAP link. Essentially this allows data to flow between the EPoS and ecommerce systems, such as sales and stock levels. It s best to double check this can be done before signing on the dotted line to avoid being stung. Do they have a solution for mobile commerce such as responsive website design? Mobile-friendly websites now rank higher in Google than those that aren t. Without one, you may be losing out on sales. 3
How can it help you manage your stock? Stock is every retailer s most important asset but getting right the levels of stock for many is a fine art. EPoS systems should help make it an exact science. They should help you carry the right stock at the right time. It is important that this is not underestimated as reducing stock levels can vastly improve cash flow so you can buy more of the right products. Things to consider: Live stock levels, so you only sell what you have in stock Automated reminders when running low on products, such as minimum and maximum stock levels Integrated and automated purchase ordering Algorithm to predict sales levels throughout the year, so you can prepare for peak trading periods with the right stock levels Import product data from a spreadsheet rather than manual entry Matrix products for items with multiple styles User defined fields to personalise your product data Reporting on best and worst selling products Reporting on most and least profitable products 4
Are training, support and software upgrades available for the system? The last thing you want after buying a new piece of technology is to be left high and dry with no training or ongoing support, especially with a busy retail business to run. Training Training on your brand new system will help you to get the most out of it, from implementing new processes like a loyalty programme to creating reports to help you make the best decisions for your business. Whilst business software can be easy to use, if you or your staff are new to this you need to be sure you have adequate training so your investment into the EPoS system is not wasted. Is full training offered and how long for? It will need to be thorough so you and your staff can get to grips with your new system. Is it in person, over the phone or via webinar? What is the cost for training, is it included in the system price? Is there the option for more training if needed? Support What are the ongoing costs of support and are these likely to go up? What are the support opening hours weekend support is vital as this is often the busiest time for retailers. Are there multiple ways to contact the support team e.g. via phone, email, online ticket system? Do they provide support documentation e.g. step-by-step guides, video tutorials and troubleshooting guides? Software Upgrades Is the software upgraded ongoing? Are upgrades free of charge or is there a cost associated? How is the system upgraded does the retailer have to install it themselves or is it done remotely? 5
Can the system go mobile (PoS)? Shoppers needs have changed over the years with a demand for a personalised in store experience and speedy transactions. Mobile PoS is becoming an attractive prospect for retailers due to its many benefits including: The ability for the sales assistant to talk personally with the customer on the shop floor with a Mobile PoS tablet, giving them product information to hand and the ability to take customer details Sell anywhere, whether that s around the store, in a pop up shop or at events Reduce queues by setting up an additional till point at peak times If this is something you may consider now or in the future, ask whether it is easy to deploy the EPoS system on tablets, e.g. ipads. 6
Does the EPoS system enable better customer service? The point of sale for many retailers is becoming a point of service somewhere that maximises sales and provides customers with a great shopping experience. To do this sales assistants need to be empowered with the information to do so including a detailed description of the product to help answer customers questions, images, details of customers past purchases, associated products and the option of product bundles for upselling. So, it s important to ask exactly what information appears at point of sale and if there are tools available to aid in upselling. 7
Does it give you all the reporting and sales analysis tools that you need? Ask yourself what stats and figures you need each month and have a think about any areas you d like report on to help improve the business. Then ask your potential supplier if they can provide everything you need. Does it come as standard or will there be a cost for special reporting? Bear in mind an EPoS system should be intelligent enough to help you to save costs, such as stock holding and shrinkage, in order for you to see a significant return on your investment. 8
Where is the software stored and is it secure? EPoS systems are generally stored either locally on a physical server at the shop or they are stored on the internet in the cloud. Consider which will be best for you cloud based systems offer sales and orders in real time, but a store based server will not. Ask your potential provider how their software is stored and how secure all of your data will be. If they are cloud based, ensure they adhere to the latest security standards. 9
Where can you use it? Running your own business does not consist of working 9-5. It means doing stock counts after hours, raising Purchase Orders from home, meeting suppliers whilst managing staff and the store. The point is your time is precious and you need to be able to work when and where you see fit. If this is the case check where you can access the EPoS system and through what device, for example can you use a tablet on a train or at a trade show, to run reports? 10
0run promotions and a Does it allow you to loyalty programme? Every business needs loyal customers, and one way of achieving that is through running a loyalty programme. Can the EPoS system run a loyalty programme? If so, is it customisable? Ask what type of programme it can run. Is it points, discount of rewards based or does it offer all three? What s more, promotions are a big part of retail. Can the EPoS system help you to manage these? Check what the options are. Can you run universal promotions in-store and online or personalise them for each channel or even for different customers if you choose to? Can you schedule promotions in advance? Can you make promotions live straight away? Special Offers Reward Card Loyalty Card LOYALTY REWARDS 11
Cybertill provides retail software, including fully integrated EPoS and ecommerce, which allows retailers to sell in store and online seamlessly. Our cloud based solution offers a myriad of benefits to retailers including real time stock visibility across the business. Want to find out more? Call our team on 0800 030 4432 or drop us an email at enquiries@cybertill.co.uk