Once business owners make the decision to install a point of sale system, it becomes a “brick and mortar” aspect of business infrastructure. However, newer payment methods, internet marketing, and security concerns are now causing managers to rethink the roles that POS solutions fill beyond the cash register receipt. It’s time to compare epos vs. pos.
Granted, even companies in the same industry can have divergent business models and still run very successful businesses. For example, some restaurants and food carts still run on a “cash only” payment model. They reject credit card transaction fees and rely on word of mouth. They accept they will turn away some customers who will likely go to a competing business.
The websites of traditional POS or cash only businesses are not usually connected to ecommerce software which can allow them to receive food orders directly onto the POS system at the restaurant. Customers can call-in order using the website as a reference but not for much more. However, restaurants can bridge the online order gap with 3rd party delivery services, such as GrubHub and DoorDash.
EPOS vs. POS is the process of evaluating who your future customers are going to be and what plan you want to implement to keep your loyal customers happy.
Hardware and Software Side-by-Side Comparison
Legacy POS systems have some common configurations, all of which have one difference in common with cloud-based ePOS platforms. Each of these systems use a local hard drive or server to store and backup sales data:
- Self-service kiosks
- Client-server POS
- Cash register
- All-in-one POS systems
Companies often hire software, hardware and internet services providers to create local file and data sharing networks to connect data from backend and front-end operations. Backend operations would often include:
- A/P, A/R and Purchase Order (PO)
- Bookkeeping
- Stockroom/Inventory
- Vendor Management
- Payroll/Time reporting
Front-end operations most needing to be integrated include:
- Dining Room
- Bar
- Kitchen
- Sales counter/taxes/order management
ePOS takes away the need for hiring pricey consultants to make multiple visits just to get your POS system off the ground for your restaurant, bar, salon, or retail shop. Cloud-based POS systems include software as a service (SaaS) so you no longer need to pay for every piece of software needed to tie your front and back end to accounting software you may already have.
ePOS vs. POS Security and Maintenance Features
Many factors pushed the need for the development of better POS solutions for small and medium businesses. Here are the ones that had the biggest impact:
Industry Standardization
Industry standardization didn’t exist for many years. Businesses were always faced with a myriad of decisions with every POS software and hardware installation they made. Of course, anyone could pick-up POS software packages off-the-shelf but customization often presented a challenge.
If small businesses wanted to ensure integration went smoothly, they were forced to buy software, hardware, and service all from one company. Virtually every POS system was tied automatically to long-term service contracts. These many factors translated into high upfront costs for any company.
ePOS removes the roadblocks that lead to expensive software and hardware that doesn’t always work that well together. When you choose cloud-based ePOS solutions, the likelihood of buying incompatible hardware disappears. The need for lengthy service contracts disappears along with it!
Security/Data breaches/Piracy
Local servers become susceptible to data losses if one or more storage system components fail. Company servers can sometimes come under targeted attack, too. Security protocols for cloud-based storage software reduce the risk of a successful attack on your company data.
Data losses/Hardware failure
ePOS allows you to continue to take orders and make sales even when the internet goes down. Once internet service becomes available once again, onboard software automatically reconnects your POS device(s) to the cloud and syncs the data.
Digital Marketing/Ecommerce
Consumers use smartphones to conduct large swaths of their daily lives, including browsing menus and comparing prices. Internet searches drive digital marketing channels for every type of business, product, or service. Traditional POS doesn’t have the features to handle web-based and orders placed in your store simultaneously. ePos vs. POS software features updates inventory counts in “real-time” on your POS display.
Regulatory Compliance
Sarbanes-Oaxley (SOX) introduced new financial regulatory requirements for companies throughout the US. Notable security measures required businesses to implement new auditing and compliance programs. SOX requires a rigorous account verifications process. If you work with international accounts and customers, the reporting features in cloud-based ePOS solutions can become a valuable way to simplify meeting those requirements.
Point-of-Sale Strategies that Improve Operational Efficiency
Every day small businesses are updating to ePOS vs. POS. The need for strong customer service and a quick and secure sales closing process cannot be overestimated. Customers are demanding more and talech can help you to better address that increased demand.
