Choosing an entirely new system to help your business boost its operations can be a stressful process. If you are a business that already has existing systems in place, moving away from these systems and trying out newer ones can often seem very risky. The same is true for EPOS system customers – especially given the integral part these systems play in a business’ operations. We have come across many clients who felt exactly the same way before they switched over to us. Therefore, we decided to inquire as to what exactly made them make the change and what core factors/reasons stood out to them.
Naturally, your business’ needs may be very different from the needs of other establishments, however, there are certain areas and red flags that critically indicate the need to switch from one method/system of handling your operations and on to an entirely new one. One particular area that many users and businesses highlight as a struggle is knowing when it is time to try something new.
Whether it is due to familiarity, or the fear of trying out an entirely different system, apprehension towards new things is very common in the world of business. However, once overcome, the results of these decisions can really be worth it.
Our expertise is in providing EPOS solutions to clients, with both manual and existing POS systems. Which is why, in this piece, we highlight three core areas that indicate to you, as a business owner and leader, that it is in fact time to try an entirely new EPOS system.
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We have heard this story many times. A one-size-fits-all service provider came along and boasted about how her/his company could provide you with an EPOS system, with modules that cater to all kinds of industries. It is natural to think that the more multifaceted something is, the better it has to be, right? Wrong!
When it comes to POS systems, the more specialization of the functionality, into the type of work you do, the better off you and your employees will be in the long run. While ambidexterity is an admirable trait in many areas, specialization is even more important when it comes to choosing a system that is critical to the management of your operations.
It is therefore important to carefully consider the fact that, as you compare prospective platforms, a system that handles multiple attributes may not have the flexibility or customization to meet your unique requirements. One thing we have noticed with businesses that have committed to various systems is that, in the long run, they begin to base their operational methods and strategies around the solutions they use, as opposed to what is best for their business.
We strongly recommend against this and, if you find yourself in such a position, consider yourself in a position where you need to start exploring alternative options and solutions that will help bring you closer to where you want to be and need to be.
Point of sales systems are just one of many of the components and solutions you would use in your business. They are undoubtedly a very important aspect, however, they, most definitely, cannot carry out your operations on their own. Whether it is by integrating credit/debit card payment systems, whose use is growing exponentially in popularity, or adding to existing accounting systems that help you forecast your financials, or simply bolstering your establishment’s physical security via CCTV cameras – all these components are mission critical.
As your business continues to grow, it is very important that you find a way to centralize all these components and functionality, effectively streamlining your overall operations and reducing inefficiency and lapses in security. If you currently have a manual process in place, which has these segments operating in a silo, or you have an existing system in place that fails to provide the necessary integrations and centralization, it may be time for you to consider an alternative solution.
We recommend that you look at your current systems and hardware in place – especially the ones you, your employees, and business depend on heavily – and see if they can be integrated into your current system, with little to no cost. If this is not possible, you may need to find a solution that provides you with this functionality and, in the process, much more services and integrations that could easily aid your business and its operations.
Retaining customers must be at the center of your business model. This makes sense, after all, given that over 70% of an average business’ revenue is derived from existing clients. Whether you run a hotel, restaurant, retail, or wholesale outlet, making sure you keep your existing customers is a guaranteed way of maintaining a formidable customer base while positioning yourself for future growth.
Therefore, customer relationship management must be at the heart of your business’ automation and optimization systems – like a point of sales solution, for example. Why? Having the ability to archive, identify, communicate, and promote offers and services to customers, based on their preferences is by far one of the core advantages certain POS systems have. Gone are the days where a system was merely a tilling operation – we now live in the world of centralization and synchronization, which means that everything must be integrated and you need to have the tools necessary to communicate with your customers.
Whether it is through SMS marketing where you target unique offers to high value prospects, based on their purchase/order history and interests, or you simply want to send reminders about reservations and meetings, your systems need to mimic your thought process and business acumen.
We recommend that you evaluate your current system, identify what integrative capabilities it has, employ them, and, if unavailable or unsuccessful in doing so, consider looking at what is out there on the market for you to add to your operations. Marketing can often be an overlooked aspect of running a business, particularly given the relatively high initial costs, however, if employed successfully, the returns that roll in would easily supplant, and exceed, any of your initial financial commitments.
Moving onto a new system of operation, let alone a point of sales solution, is never easy. However, if done for the right reasons, to achieve the right results, in the right way, there really is no way in which this can go wrong for you. The key to this is making sure you do your research, understand your needs, gauge the products and services out there, converse with your prospective providers, and make a decision that is based on process enhancement and business improvement, above all else. If you are successful in doing this, you will likely never regret, nor look back, on your decision. However, remember, the key is to always know your needs and to meet these needs accordingly.
For more information on what to look out for in an EPOS system or when to know it is time to switch over to one, get in touch with us!