It seems like the cost of doing business keeps going up. With the increases in the cost of employment, energy, and even tax compliance, many small businesses feel the pinch as their margins get squeezed seemingly tighter and tighter each year.

With so much pressure, businesses are looking to save money in any way they can. And it turns out that an EPOS system can go a long way to streamline operations and cut inefficiencies. Time is money, as they say, so let’s take a quick look at the ways your EPOS can save your business money.

How Your EPOS Can Slash Labour Costs 

Labour is among the largest expenses when running a business. National Insurance Contributions (NIC) are no joke, with businesses being responsible for paying 70 percent of the total required contributions.

By integrating an EPOS system into your business operations, you can eliminate unnecessary tasks and reclaim time usually spent on manually handling payments. For many venues and shops, this translates to saving the workload equivalent of half a staff member, a significant cut to payroll expenses! What’s more, you don’t necessarily have to compromise service quality, as your employees will be able to work smarter!

How does this work? Let’s break it down:

• An EPOS system can save as little as 1 second per transaction. While that doesn’t sound like much, it adds up when you multiply it across 1,000 daily transactions.
• That’s 16 minutes per day, which extrapolates to over 6.6 hours per month, or roughly the same as a part-time shift.

Now imagine the multiplier effect for businesses with higher volume:

That’s time you can reinvest into staff development, customer engagement, or simply trimming your wage bill.

This is just accounting for saving time with card transaction (vs. processing them manually). There are other ways an integrated EPOS solution can save your business time—and therefore money.

For restaurants, an EPOS system with order pads can significantly speed up the ordering process, while also nearly eliminating errors. Add in a kitchen printer and you’ve likely shaved off at least 10-15 seconds by removing the need for servers to physically walk orders to the kitchen. What’s more, this also reduces food waste while also making it easier to make customers happy! That’s a win for everyone!

Smarter Data Entry and Stock Management

When your margins are tight, the last thing you need is poor inventory visibility or human error derailing operations. With EPOS, you get all the tools you need to turn guesswork into money savings.

EPOS systems can update your inventory automatically with every transaction, so your team will spend less time counting items. Additionally, real-time low-stock alerts help you avoid embarrassing sellouts, while smarter reordering cuts down on dead stock and wasted spend.

But it’s not just about tracking cans, bottles, and burgers. EPOS makes data entry fast, accurate, and foolproof. Barcode scanners, smart product/item categorisation, and predictive product lookups give staff the tools to process deliveries and update stock. No more handwritten logs, mislabelled items, or surprises when the truck shows up.

Best of all, all your data is fed into a reporting engine that can tell you everything from top-sellers to seasonal trends to forecasting future demand. Forget about needing to collate data from several systems to just know what your business has done; with an EPOS you can understand your business like never before!

Maximize Customer Loyalty

In today’s retail and hospitality environments, customer loyalty is one of your most valuable assets. But getting customers to return can be a challenge. Many businesses have incorporated loyalty programs that help them nurture repeat customers.

To make that process easy, your EPOS system tracks loyalty program members’ buying habits and offers customised rewards that keep them coming back. Whether it’s digital stamp cards for coffee or birthday discounts, your EPOS system can make it effortless to delight your best customers.

Want to learn more ways an EPOS system can save your small business money? Contact our EPOS specialists to discuss your business challenges and to learn how an EPOS system can make running your business a breeze.