What is EPOS short for?
EPOS stands for ‘Electronic Point of Sale’.
What does an EPOS do?
The purpose of an EPOS system is to provide an efficient solution for managing sales. As well as facilitating the purchase of the item by accepting payment, EPOS systems can also monitor stock levels, manage purchase orders and offer loyalty schemes for regular customers.
There are two primary parts to an EPOS system, these being the hardware and software.
Hardware
EPOS hardware refers to the physical product that you will use to process payments. The main part of an EPOS system will be the main terminal. This is a screen which is where you will enter the orders and process payments. Many EPOS terminals are touch screens to enable a more efficient data entry process.
The rest of the EPOS hardware you require will depend upon your budget and desired functionalities. Some regular additions include:
Tablet / PDA
To speed up the ordering process, you may want your staff to use a portable tablet or PDA (Personal digital assistant).
PDQ Terminal
A PDQ terminal stands for a ‘Process Data Quickly’ device, and refers to the small machines used to process credit or debit card transactions. They are commonly referred to as chip and PIN machines.
Printer
Many PDQ’s will have in-built printers, but if they don’t, you will require one to print receipts for the customers.
Cash Drawer
If your restaurant takes cash payments, you may consider an EPOS system with an in-built cash drawer. The benefit to having your cash drawer integrated with your restaurant EPOS system is that it will provide a degree of access control, helping to provide a papertrail for cash transactions and reduce the risk of cash theft.
EPOS Software
Common features for EPOS terminals include:
- Syncing sales data with stock to ensure smooth inventory management
- Integrate with other sales platforms such as online sales
- Manage customer loyalty programmes and incentives
Benefits of an EPOS system for your restaurant
To you as the restaurateur, there are many direct benefits of using an EPOS system, including:
- The ability to centralize your business operations and data into one centralized location, such as sales reports, cash tracking, inventory reports and staff performance
- Ensure consistent and accurate pricing information
- Accept and process payments safely
- Speed up the ordering and payment process
- Reduce the time spent manually taking orders
- Reduce human errors with orders and payments
Mistakes to avoid when choosing your next restaurant EPOS system
Not choosing a restaurant-specific EPOS
Whilst a standard EPOS system will likely perform most of the tasks you require of it, every restaurant is different from one another, let alone businesses in other industries.
Before choosing an EPOS system, consider the specific usages you will require of it for your restaurant. Does it need to integrate with a specific booking app? How strong is your WiFi around the restaurant; will this affect how you will take orders on a portable tablet?
Choosing an EPOS system designed for restaurants will also improve your inventory management. Having items such as potatoes, legs of lamb and sides of salmon as your stock presents a vastly different proposition to a clothing shop with shirts, trousers and socks. A hospitality EPOS system will have the software designed to handle the quirks of restaurant inventory management.
Failure to plan for the future
As with every major decision, plan ahead when choosing your EPOS system. Who knows what the future holds, especially within the hospitality industry. Choose a software that is flexible around your requirements and budget demands.
Choosing the cheapest option
We’ve all done it; set the filter to price low to high. As tempting as this is, some of the cheaper options on the market will limit your ability to run a smooth dining operation. Whether it be the limited functionalities, unreliable software or poor build quality, the old saying of buy cheap buy twice applies for restaurant EPOS systems.
Prioritise choosing an EPOS system that is well supported with regular updates and extensive training guides and user manuals. Hospitality is renowned for its high turnover – you want your new staff to be able to work out how to use it quickly and efficiently.
Our advice for choosing the right restaurant EPOS system
Contact a specialty hospitality consultant – they have the expertise and know how to ensure you choose an EPOS system that will help your restaurant streamline its operations.
If you have any further questions related to EPOS machines do not hesitate to contact us.