Everything EPOS - The key advantages for ISOs, ISVs & their merchants

• EPOS systems aren't a new concept, but they can be revolutionary for merchants by transforming how they operate their business and utilize valuable customer data.

• EPOS systems streamline transactions, automate inventory management, and provide real-time data reporting, significantly reducing operational burdens and minimizing errors for merchants.

• EPOS systems offer advanced analytics, enabling precise sales forecasting, trend identification, and personalized marketing, giving merchants a competitive edge.

• Embracing EPOS technology is a strategic necessity for ISOs and ISVs, positioning them as forward-thinking partners capable of delivering sophisticated, future-ready solutions to merchants.

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As technology evolves, merchants, and you - their service providers - are constantly encouraged to offer solutions that are not only efficient but are also adaptable, scalable, and above all, future-proof.

You might already agree that traditional POS systems are no longer enough, as they can struggle with outdated processes and some certainly lack the flexibility modern businesses need in terms of interconnectivity with other software. This means they can often fail to meet the growing expectations of today’s savvy consumers, and that’s where EPOS systems come in.

Now, it’s not like EPOS systems are a brand new concept, but that doesn’t mean to say they can’t be revolutionary to merchants who aren’t currently using them.

In the same way that contactless payments revolutionized the checkout process by making transactions faster and more convenient, EPOS systems can elevate the entire point-of-sale (POS) experience by improving not just the speed and convenience for the customer, but the back-end benefits for the merchant, especially through the ability to intake reams of customer data. In short, EPOS systems transform how merchants manage their business. Therefore, for ISOs and ISVs, embracing EPOS technology isn’t just an option, it’s a strategic necessity.

So, how can you leverage this powerful tool to offer a more compelling, competitive package to your merchants? Let's dive in and explore how EPOS systems are transforming the payment scene, one advantage at a time.

At its core, EPOS - short for Electronic Point of Sale - refers to a digital system that manages the sales process. Unlike traditional POS systems with their one-dimensional, ‘click, receipt, done’ functionality, EPOS systems combine two key components: physical hardware and software. These systems are integrated with various software solutions, enabling a range of functionalities that go beyond simple transactions.

EPOS systems are designed to enhance efficiency across the board. By streamlining transactions, automating inventory management, and providing real-time data reporting, these systems significantly reduce the operational burdens on merchants. 

Think of SmartPOS systems as modern, portable devices—like tablets or smartphones. They’re great for on-the-go transactions, whether you're running a pop-up shop or a food truck. They offer flexibility and ease of use.

On the other hand, EPOS systems are more like robust, all-in-one workstations. They come with dedicated hardware and a rich feature set, handling everything from complex operations to detailed reporting and seamless integration with other business tools. They’re ideal for businesses that need a powerful, reliable system to manage various aspects of their operations.

In essence, SmartPOS is perfect for mobility and simplicity, while EPOS offers a comprehensive, dependable solution for more intricate business needs.

EPOS systems are particularly well-suited for businesses with high transaction volumes and complex operations, such as large retail stores, restaurants, and chain operations that need all the product inventory bells and whistles. They’re also ideal for sectors requiring real-time data to manage multiple locations or teams. Let’s take a closer look…

Consider a busy retail store that manages a high volume of sales each day. Traditionally, the store’s staff would have to:

• Manually track inventory
• Tally sales at the end of the day
• Reconcile discrepancies

…all while ensuring accurate pricing and providing efficient customer service.

This manual process is not only time-consuming but also prone to errors, leading to potential stockouts and overstocking, which in turn leads to inconsistent customer experiences.

With an EPOS system in place, these challenges are dramatically reduced. Transactions are automatically recorded and synced with inventory levels in real-time, ensuring that stock quantities are always up to date without the need for manual checks. For instance, when an item is sold, the system instantly updates the inventory count, triggers reorder alerts if stock is low, and even adjusts the pricing dynamically if needed. At the end of the day, instead of spending hours on sales reconciliation, the merchant can access a detailed, real-time sales report that’s accurate to the last transaction.

Now, consider what that means to your time-poor merchants?

This automation not only saves time but also minimizes errors; it also reduces the need for manual labor and allows staff to focus on enhancing customer service rather than getting bogged down by administrative tasks.

For ISOs and ISVs, offering EPOS as part of your portfolio not only adds value to your services but also positions you as a forward-thinking partner capable of empathizing with your merchants’ biggest pain point and delivering sophisticated, future-ready solutions as the medicine…but which one can confidently deliver it all?

There are, of course, many EPOS options available, but none capitalize on maximizing the potential of EPOS systems as effectively as Aevi's in-person payment orchestration platform does. Aevi's platform not only enhances the automation capabilities of EPOS systems but also provides a comprehensive ecosystem that brings together various payment and business management tools. This allows merchants to streamline their operations, making it easier to manage payments, inventory, and customer interactions all from a single interface.

If that’s not enough, the advantages of EPOS extend to advanced analytics too. With real-time data, EPOS systems give merchants a competitive edge in these 4 areas:

1.     Precision in sales forecasting

With EPOS systems, historical sales data transforms into accurate sales forecasts. Merchants can anticipate which products will be in demand, ensuring optimal inventory levels, which means no more overstocking or running out of popular items.

2.     Uncovering trends and customer preferences

These systems also provide deep insights into sales trends and customer behavior. Merchants can identify best-sellers and refine their inventory, and adjust marketing strategies to meet customer demand. If a product isn’t performing, decisions can be made quickly, so they can decide whether to discount, bundle, or replace it.

3.     Operational efficiency

EPOS data helps merchants optimize staffing and resource allocation. By understanding peak hours and busy days, they can ensure the right level of staffing, reducing wait times and enhancing customer satisfaction.

4.     Personalized marketing and real-time adjustments

EPOS systems make targeted marketing easy. Merchants can use customer data to create personalized promotions and loyalty programs. Plus, with real-time reporting, they can make quick adjustments to capitalize on emerging trends.

Aevi’s device-agnostic platform, in particular, supports this enhanced efficiency by offering unified and efficient payment experiences for both merchants and customers. This means that your merchants can benefit from faster checkouts, reduced errors, and more consistent pricing - key factors that contribute to a better overall customer experience.

As the adage goes, ‘treat a customer well, and they’ll tell one person; treat them poorly and they’ll tell ten’. Put simply, customer experience is everything. Merchants who can offer faster checkouts, multiple payment options and personalized service are more likely to retain customers and drive repeat business. EPOS systems play a crucial role in this by enabling merchants to provide a smoother, more personalized shopping experience.

For instance, EPOS systems can store and analyze customer purchase history, allowing merchants to offer personalized recommendations or targeted promotions based on past purchases. If a customer frequently buys certain products, the system can alert the merchant to offer discounts on those items or suggest complementary products during checkout. Additionally, EPOS systems can integrate with loyalty programs, automatically applying rewards or discounts without requiring the customer to present a separate card or code.

This level of personalization extends to payment options as well. By accepting various payment methods - from traditional credit cards to digital wallets and even buy-now-pay-later (BNPL) options - merchants can cater to the specific preferences of each customer, making the checkout process not just faster but more aligned with individual needs. And, this is even before we start talking about EPOS’ omnichannel integration capabilities. This tailored approach not only enhances the shopping experience but also builds stronger customer loyalty, encouraging repeat visits and higher spending.

Aevi’s future-ready Android EPOS systems are particularly well-suited for this task, offering the flexibility and adaptability needed to meet the diverse needs of modern consumers. By integrating Aevi’s platform into your offering, you can help your merchants stay ahead of customer expectations, leading to higher satisfaction and retention rates.

For ISOs and ISVs, embracing EPOS solutions as part of your offering isn’t just a value-add; it’s a game-changer. It’s your ticket to transforming merchants into data-driven powerhouses, enabling them to make smarter decisions faster. By providing these cutting-edge tools, you’re not just offering a service, you’re cementing your role as the partner who fuels their long-term success and future-proofs their business against the competition. If you’d like to know how Aevi can help with that, let’s talk.