EPOS systems have countless benefits and features that are transforming the operations of businesses both here at home and around the world. Contrary to what many people, these systems go well beyond the basic functions of managing point of sales functions and enter many other realms – reporting and analytics in EPOS systems are among the core functions that are heavily sought after. But, why is this so?
At the heart of it all is the idea and concept of leveraging data in a manner that can contribute to the growth of a business and/or organisation. Reporting and analytics are functions that are fundamentally set around key pieces of information collected via transactions, which means that this data can be utilised in a manner that is intended to drive up sales and ensure the streamlining of an organisation’s functions. While this may happen in a plethora of ways, this blog article focuses on three core areas that have played a pivotal role in the organisational growth and also happen to be areas that have benefitted significantly from the presence of EPOS systems.
If you happen to be an establishment or business operating multiple locations at any given time, this functionality should be of particular importance to you. Why? Whether you operate 3 sites or 30, one key aspect that every owner or manager wants to know is which sites are performing well versus which sites are not – using these insights, businesses can focus their resource allocation in a manner that alleviates sites that are challenged while strengthening sites that are doing well.
Centralised reporting analytics in EPOS systems facilitates this more conveniently than any other system, given that the right EPOS system would be linked to all aspects of a business’ operations – from sales to inventory to stock ordering and management. With all this data, a business would know what factors determine success in one site and what factors hinder success in another. As a result of these insights, businesses would have the insights necessary to make informed decisions.
The last thing any business manager wants to be thinking about is stock management – especially as their business is growing and customers are rolling in. Unfortunately, the fact of the matter is that this is an essential part of driving success. Effective and efficient inventory management means that the business will be able to run smoothly, in an organised fashion, and with limited losses. A business that fails to forecast and facilitate appropriate inventory needs either runs the risks of running short of supply or having an excess supply that results in high levels of wastage – neither are options that spell success in the future.
With the right EPOS system in place that is bolstered by powerful inventory management functionality, businesses, managers, and owners would have the luxury of knowing exactly where their inventory levels are at – across multiple sites – and when the right time to purchase additional stock is. Additionally, with reporting and analytics in EPOS systems built in, businesses would have access forecasting capabilities that estimate and predict the most optimal dates and times for re-stocking, which, in the presence of a manual or more inferior system, would be impossible.
It goes without saying that when selecting the perfect EPOS system for your business, always opt for the one with powerful reporting and analytics capabilities, in addition to insight inventory management functionality.
Our businesses’ success is only determined by the quality, work ethic, and commitment of our staff. The best businesses and service providers are businesses with the best/most motivated staff. In order to become and remain successful, businesses need to ensure that their staff members are operating at optimal capacity. Unfortunately, this is quite difficult without a complementary system – especially as the in-house personnel count increases over time. This is why having a system in place that can monitor, manage, and report on staff performance is so important.
Reporting and analytics in EPOS systems that provide insights into employee performance, attendance, sales, and orders can inform employers and managers of which employees are performing the best versus which employees need better training and new approaches for greater motivation, which will ultimately result in heightened performance.
The analytics leveraged via EPOS systems would not just inform businesses of how their business is performing at a larger scale, rather, these systems would provide businesses with the insights they need to improve from the bottom up, which would ultimately result in more efficient outcomes.
At eposEX, we want to help you succeed. The best way to capture and maintain a large customer base is through a personalised approach and efficient service, ensuring a seamless and satisfying customer experience. Our EPOS systems will help you achieve this.
Contact us today for more information.