Businesses grow in many ways. Whether we are referring to growth in terms of revenue, the number of employees, or the overall number of sites, stores, and outlets that are established under their umbrella of influence, this is level of growth is always encouraging. To facilitate branch management and sustain this level of growth, many businesses turn to a variety of technologies that help facilitate and integrate their overall operations – enabling a seamlessly transparent environment for business managers and owners to gauge the performance of their multiple sites. An example of a type of technology leveraged is an EPOS system.
In addition to supporting the entire Point of Sale (POS) operations of businesses, EPOS systems have advanced well beyond this function and into other segments of store/outlet management that includes customer service and relationship management, loyalty program management, and site/branch management.
In this blog article, we focus on the three core areas by which EPOS systems support to branch management – we begin with its overall inventory and staff management capabilities.
One of the trickiest aspects of managing multiple locations is the difficulty in accurately assessing how much inventory and stock you have left vs. how much you need to stock up. Fortunately, some EPOS systems come with functionality built-in to capture vital information both in terms of how much stock is left and the respective inventory utilisation trends at a given location. Using this information, business owners can make predictive decisions in advance regarding which locations require re-stocking.
The predictive nature of inventory management via EPOS systems means that business managers and owners have access to a platform that allows them to comprehensively manage their inventory from the point stocks are ordered, all the way till the point they are utilised at the point of sale. Given that most EPOS systems are scalable, this functionality can be integrated into a large number of sites with relative ease, making it one of the most sought-after features of the technology.
For many businesses, an EPOS system would not be the only technology that is utilised. Irrespective of what industry an enterprise belongs to, the odds are that it would leverage hardware and various accessories to either manage the sales, point of sales, store security, and staff management functions. These devices could come in the form of CCTV cameras, security systems, printers, and screens, to name a few.
With the right EPOS system in place, most businesses would be able to incorporate many of these components directly into the system, allowing store managers and owners comprehensive visibility and access over each one.
Take for example a store owner of a business that has 5 branches and 15 employees in each one – running on a shift-based model. This would mean that the store owner would have to individually and manually inquire into the records of 90 employees if she/he wanted to gauge which employees were clocking in on time and fulfilling their respective shifts. If the store owner was to use an inferior electronic system that lacked the appropriate functionality, she/he could risk losing this data entirely.
However, by incorporating an EPOS system that can integrate with a device that records employee clock-in and clock-out times, a fingerprint scanner, for example, the information would be collected and centralised. This would mean that instead of having to scour through a plethora of shift cards or data hosted on a decentralised system, the store owner would be able to access all his employee-related shift information via a centralised system. The result? Streamlined branch management and employee management. The same concept can be applied to other appliances like CCTV cameras, provided the required hosting and network capabilities are enabled.
If you have familiarised yourself with a system that has afforded you the aforementioned benefits and more, odds are that you would want this integration to continue as your business grows and adds new locations/branches. With a scalable system in place, this facilitation would be seamless. Provided that your entire network of sites are connected to one centralised EPOS provider’s services, the only addition required at your new site would be to deploy the technology and link it to the existing database.
At the click of a button, owners and managers would be able to check on branches, old and new – giving them comprehensive visibility like never before! The exact same point regarding integrations, addressed in the previous section, can be implemented at your new sites, creating your business’ very own information network, powered by the insights of a powerful and scalable system.