How Much Does An EPOS System Cost?

Not sure how much an EPOS system costs or what to look for when searching for a new EPOS solution? We’ve popped together a quick guide to help you find out what questions you should be asking and what costs you need to consider!

Electronic point of sale system or an EPOS System is a quick and easy solution for processing transactions electronically at customer touch points. Your business may have multiple touchpoints that require an EPOS system such as processing payments, managing customer accounts and dealing with stock control.

Many businesses may be quick to opt for a basic system in order to save money initially, but remember that these will be limited in functionality and may in fact limit your business’ ability to provide great customer experience. When it comes to EPOS, it helps to first consider your requirements as a business and work backwards from there. To help you do this we’ve put together a guide that might help.

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Before making an investment in a new EPOS solution you must understand the full cost implications.

Much of the visible part of an EPOS system is the physical hardware that comes with one. For example, this might include touchscreens and new tills, but it can also include things like improved scanners, customer displays and printing facilities. Remember that along with all of this hardware is the software which runs it. Often this is regarded as an ‘invisible’ cost, but it is essential that buyers of EPOS systems realise that they are not simply investing in new physical equipment but in a software solution which can integrate with their other applications, too. This brings us to another key part of the cost implication associated with an EPOS solution – that of integration.

Remember that an EPOS system that stands alone will only afford certain functionality, but one that integrates can do so much more. In order to integrate with third party software or existing packages, there is an inevitable amount of expenditure required, usually a part of the up front costs. Finally, depending on the sort of package that is chosen there can be on costs. These are typically associated with payment processing which is not done for free by anyone in the financial services sector.

However, the way in which you pay for payment processing can be extremely efficient, depending on the number of transactions that are made in a typical working week and their magnitude. Another on cost to consider is technical support, which is essential for any EPOS system to make sure that everything continues to run just as well as it did on day one of installation.

Choose A Partner & Not A Supplier

All EPOS system investments should be made with due diligence. Research the company offering a system which matches your requirements and check that it really does meet your business needs. If possible, gain insights from existing customers and ask for references as a matter of course. When you obtain references and testimonials, make sure they are relatively recent and that they chime with the sort of system you are after. Finally, consider the product road map of the EPOS system in question and check for future support and software releases. Future proofing really is the key and should be your watchword with any purchasing decisions.

KCPOS has a team of experts who have worked with many businesses, in many industries across the UK. For an accurate & free no obligation EPOS review, demo and quote please contact our team.

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