A UK Business Owner's Guide to EPoS Systems
Posted on August 2, 2024 by Syed Zaid Ali
If you're running a business in the UK, you've likely heard the term 'EPoS system'. But what does it actually mean, and how is it different from a traditional cash till? An Electronic Point of Sale (EPoS) system is the modern successor to the cash register, acting as a central hub for managing your entire business, not just transactions.
From Cash Till to Business Hub
A basic cash till simply records sales and holds money. A modern EPoS system, like CloudTill, does so much more. It integrates sales, inventory, customer management, and analytics into one powerful platform. For a UK business, this is a game-changer.
Key Features for UK Businesses
When choosing an EPoS, here are some essential features to look for:
- VAT Management: The system should allow you to set your tax rate (e.g., 20% standard VAT) and automatically calculate it on every sale. This makes your quarterly VAT returns significantly easier and more accurate.
- Integrated Payments: Accept all major credit/debit cards, as well as Apple Pay and Google Pay, directly through the POS. This speeds up checkout and simplifies reconciliation.
- Inventory Control: Link your sales to your stock. When you sell a product, the system automatically deducts it from your inventory, providing real-time stock levels and low-stock alerts.
- Online Ordering Integration: A crucial feature for takeaways and restaurants. The best systems offer a commission-free online storefront that feeds orders directly into your EPoS, bypassing costly third-party fees from platforms like Uber Eats or Just Eat.
- Cloud-Based Reporting: Access your sales data, best-selling products, and peak trading hours from any device, anywhere. This allows you to make informed business decisions on the go.
How CloudTill Addresses UK-Specific Needs
At CloudTill, we've built our system with UK businesses in mind:
Our tax settings allow you to define your VAT rate and label, ensuring every receipt is compliant. Our online storefront feature helps you fight back against high commission fees, putting more profit back into your pocket.
Conclusion
Upgrading from a simple till to a modern EPoS system is one of the most impactful investments a UK business owner can make. It's not just about processing sales faster; it's about gaining the control, data, and efficiency needed to thrive in a competitive market. By simplifying complex tasks like VAT calculation and inventory management, an EPoS like CloudTill frees you up to focus on what you do best: serving your customers.
