POS Systems & Prices: Accept Credit/Debit Card Payments
Point of Sale
Point of sale systems are often referred to POS systems or EPOS. They can provide a number of different services including authorising card transactions, updating stock levels and carrying out reconciliations.
For most businesses, the primary driver behind purchasing one of these systems is to be able to process payments from customers using credit or debit cards as these are such popular payment methods. However, they will then automate a number of other time consuming tasks for your employees, creating a more efficient business.
What Can an EPOS System Do?
What an EPOS system can do will depend on exactly which model you purchase but some of the main features include the following:
• It allows for accurate pricing and reduces the risk of staff pricing errors.
• You will be able to update prices quickly and easily as you review your stock information.
• It allows you to keep a track of your employees by seeing who carried out what action when.
Essentially, EPOS provides a wealth of information for your company and helps reduce fraud.
You can also use the information held in your EPOS system to develop effective marketing campaigns such as promotions or loyalty benefits. They can produce a number of valuable reports about your stock and sales performance so you can quickly monitor the effect of any promotional campaigns. The accurate stock reports will then help you improve your ordering and make stock reconciliation much easier.
A basic EPOS system for a one or two unit retail operation will consist of a stand-alone terminal, installed software, a printer and a networked PC. A small system of this kind would typically cost between four and six thousand Euros.
If you have an existing PC you may be able to buy software for a few hundred Euros and then buy the additional equipment you need separately. Software packages that link to your accounting system will typically cost a further two hundred Euros compared to a basic POS system and software package.
If you want a customised EPOS system designed by a specialist consultant, this is likely to cost over ten thousand Euros. However, a final option which is only just becoming available in Ireland is to outsource it to an EPOS specialist provider. These outsourcing companies will rent you the software and provide an online link to your system alongside management support and advice.
Where Can I Buy an EPOS System?
There are a number of suppliers available in Ireland some of which are large multinational companies and others smaller regional operations. Companies providing EPOS systems in Ireland include:
• Intelligent Retail
• Laganside Retails Systems
• The Retails Systems Group
• EPOS Now
• CBE Software
• ACCS EPOS and
Some of these companies will specialise in certain industry areas so it is worth finding out who their previous clients have been and requesting customer testimonials. Also, always get a quote from at least three providers so you can be sure you are getting the best value for your business.