How much does an Epos system cost?

In order to determine the cost of a hospitality Epossystem, prospective users need to think about a few things:

- First, they should list exactly what components they need: till, cash drawer, barcode scanner, server, software, chip-and-pin card readers, printer...

 

- Then, they should check how many staff members will use the system, and how many transactions per day they are planning to do using the Epos system, as the cost of an Epos system is sometimes correlated to such values;

 

- Third, they need to think about consumables and necessary accessories: paper, toners or ink cartridges, cables, internet connection, etc.;

 

- Fourth, they need to consider the training they might need in order to become familiar with the Epos system, as well as setup and installation fees when necessary - this is an essential part of the cost of an Epos;

 

 

- Fifth, they need to leave a budget available for maintenance, upgrades and repairs.

 

This list applies to businesses willing to purchase a complete custom Epos, from one or more manufacturers and suppliers. Epos costs following this approach may be as low as £700 for very basic systems.

Taken severally, more complete systems may cost £800 for the till, + £100 for the software, +£1,100 for the display, +£150 for a cheap printer, +£150 for an entry-level barcode reader, +£250 for a PDQ terminal, +£300 for the back-office system, and a few dozen pounds for consumables. It represents a total of nearly £3,000 for a relatively complete system.

 

But other options are available, with rental costs for an Epos starting at £20 per month, and leasing costs at £40 per month, plus an initial deposit of a few hundred pounds.

 

What are the benefits of an Epos system?

Benefits of Epos over traditional point of sale systems are quite striking. They are related to reporting, stock management, accountability, speed and efficiency, and accuracy.

 

 

 

Because Epos systems are part of a connected system, maintenance of sales and inventory become essentially effortless, instant and more accurate. All product data is automatically pulled from the product catalogue through barcode reading and inventory matching, all customer data is directly pulled from the CRM to calculate personalised discounts where applicable.

 

Since all operations are centralised, it’s also much easier to manage a pool of sales stations, without having to program each terminal individually.

 

 

 

Epos systems are connected with the inventory and human resource data also allow Epos to provide inventory reports and sales reports, with per-staff member figures if needed. This can be used as a management tool, but also as a security tool to detect and prevent fraud.

 

 

 

This latter aspect also illustrates the Epos benefits related to accountability: Epos helps built better accountability for each member of staff individually, and for the business itself taken as a whole.

 

 

 

This also helps making better, more accurate inventory forecasts, by programming alerts which will be automatically triggered when inventory levels hit a certain point. This allows suppliers to track sales and purchasing data, and identify popular products, versus unpopular ones instantly.

 

 

 

Finally, Epos benefits your business’s image in the eyes of your customers, who are handed out nice-looking, colourful receipts, and receive faster, more accurate, more personalised in-store service.