Finding the right EPoS system

This article is brought to you by Retail Technology Review: Finding the right EPoS system.

When a retailer goes looking for a new EPOS solution its similar to a child visiting a sweet shop. There is a wide range of choice and you dont want to make a choice that leaves you unsatisfied and wanting more.

Investing in technology can help a retailer make the most of market opportunities, saving both valuable time and money. At a time when its particularly difficult to get consumers to part with their hard earned cash, retailers need to make sure that an EPOS investment not only improves operations and meets the necessary legislative requirements, but can also be used to improve the customer experience, assess shopping habits and, most importantly, boost profits.

1. Getting the basics right
Primarily, retailers need an EPOS solution that will do the basics well. It needs to be able to read barcodes, carry out PLUs and do simple text base searches quickly simple delays at the point of sale can lead to unnecessary queues and infuriate customers whether they are buying or asking for information. Retailers also need technology that is not only intuitive, but easy for staff to use regardless of their position within the organisation, as this will help improve levels of customer service.

While a technology vendor may want to demonstrate the technology and its capabilities, the best way to get to grips with a system is to try the system first hand. Retailers should ask to have a go with the solutions themselves during a demonstration so they can get a feel for the technology.

2. Integrate with the back office
Although it is essential for a retailer to have cutting edge technology that helps them monitor their customers and their shopping habits, its equally important that this technology can integrate with a chosen back office solution. It may be the case that these systems need to be reviewed at the same time.

Retailers must also consider where the integration points are and how easy it will be to maintain and support these through necessary upgrades.

3. Meeting payment requirements
Retailers need to make sure that their chosen solution supports all the payment options they currently offer and are expected to offer in the near future. An organisation needs to ensure that any of its Electronics Funds Transfer (EFT) related elements are chip and PIN enabled. It is also important to establish whether the provider has experience of accrediting the solution including the hardware with the EFT clearing house.

Likewise retailers need to be sure that any solution employed has achieved PCI compliance. PCI was developed by the major credit card companies as a guideline to help organisations that process card payments prevent credit card fraud and various other security vulnerabilities and threats. A company processing, storing, or transmitting payment card data must be PCI DSS compliant or risk losing the ability to process credit card payments. Retail systems as a whole need to be accredited, however past experience should mean the technology itself doesnt become a further barrier to compliance.

Now that the large companies have finished implementing PCI DSS, banks are applying pressure further down the food chain. Its likely to mean a rapid rollout of the standards, which spells danger for small and medium-sized online merchants, retailers and mail order companies so retailers must ensure that their technology meets the necessary requirements.

4. Avoiding downtime
A retailer cannot afford any downtime with its technology during an upgrade. For organisations downtime equates to lost revenue so companies need an EPOS solution that is up and running at all times.

Businesses need to ensure that price and promotion options are supported the solution deployed also must be able to handle overlapping promotions. If an offer on the shop floor is not translated to the point of sale then not only are you wasting customer time at the checkout, but the success of an offer will not be captured at the till. This will make it difficult to assess the success of a promotion and may damage planning for the business going forward.

5. Faster payments
Flexibility is essential for long-term success. At weekends the till point experience should be running at its best with optimum efficiency. Weekends attract a different type of shopper so a retailer needs to look at the profile of its trade. Another way a retailer can allow customers to pay is by pre-scanning all items the customer is then given a print off to take to the till and simply pay for their items. This can speed up the process during busy shopping periods.

Retailers also want technology that can help them choose whether to have kiosks in store or handheld devices to take payment. Queue busting technologies have moved onto a fully integrated device that views stock available and links to the fulfilment centre so they can order products if not available within the store.

Companies also need to think about how positioning within the store can have an impact on sales. For example, retailers need to consider how much space their EPOS solution will take up and how many tills does the business need to meet the customer throughput. To provide flexibility a retailer should think to offer mobile POS which is flexible enough to be used to look up items of stock and to be used as part of a customer service tool.

6. Loss prevention
UK retailers lose tens of millions to criminal activity every year. Businesses may want to consider what loss prevention technology supports their selected EPOS solution. Companies may also want to consider how the solution will help them identify potential fraud. The integration of CCTV at the till point, monitors transactions and picks up fraudulent activities internally and externally.

7. Customer value
Retailers should not be frightened of asking to speak to customers who have already bought the technology and find out if they are happy with it. It presents an opportunity to establish if the solution has done everything that they had expected it to do.

8. Tomorrows technology
While its important that your technology does everything possible to help drive your business through a competitive marketplace in the 21st century, its equally crucial to consider that the technology youre investing in is here to stay. For example, whether the solution has a roadmap or a track record of innovation. Retailers need to be confident that that the solution they select will be fully supported for at least the next ten years the typical replacement cycles among mid-sized retailers, while smaller retailers often take even longer. In a fast moving world where change and innovation are relentless, it is essential that the technology integrates with mobile devices, kiosks, websites and CRM solutions.

Companies should also look to test the solutions promised benefits to assess whether they will satisfy their ROI model. If a retailer doesnt have one, it shouldnt be afraid to ask a vendor for help most have models which include all the relevant data. This will allow a business to compare itself against standards for the retail sector.

9. Specialist functionality
A retailer needs to think about its own business and what makes it unique before it looks to invest in technology. Companies need to think about how the POS solution will support its competitive advantage. For example the solution may need to support customer ordering or size, colour and style variants.

10. Working with a partner
The selection of a new EPOS solution is a huge investment. Retailers must look to work with an expert who will match their ambition. While the technology and its functions are crucial to the day-to-day running of your business, companies need to make sure that they partner with a likeminded operation this will help you ensure that the selected EPOS implementation will support the business all the way up to the boardroom.