To manage a retail company in today’s commerce environment, it is required to use more than one information stream. In one respect, they relate to stock investment, and in another, the company’s customers. The latest in administrative IT support, such as a decent EPOS (Electronic Point of sale) system, can help in each of these areas.
One responsibility for those in the stock management department is to keep a close eye on the volume of stock in each stock keeping unit, also known as SKUs. An EPOS system can offer reports on any lines that are either running low and need restocking, or moving slowly or overstocked, which indicates that more promotion is needed. EPOS also has the capability to let the company know which products are producing the most profits.
Further, an EPOS system allows for the production of sales reports which shows frequent customers what they have purchased, by both SKU and brand. It also stores their email addresses, enabling direct marketing campaigns where these customers can be offered complementary or new products from their favourite brands.
There are numerous other benefits to be had from an EPOS system, which include a reduction of human error, less administration time, loyalty programmes, and target incentives.
At Ten Ten Systems, we are able to offer all the above benefits through providing an EPOS system to retail businesses that want to make administrative life easier. It is one of the wisest investments a retail firm can make, taking into account the aforementioned cost-cutting benefits, such as money saved on wasted stock and reduced administration time for staff.