Retail Express - Guide to EPoS

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THE RIGHT TOOL FOR YOUR STORE IS EPoS WORTH INVESTING IN?

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in association with betterretailing.com

EPOS: THE GUIDE A COMPREHENSIVE LOOK AT WHY EPoS IS VITAL FOR YOUR STORE

THE PROVIDERS EIGHT OF THE BEST EPOS SUPPLIERS OUT THERE

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A GUIDE TO EPOS

HOW TO MAKE THE MOST OF IT

why invest? EPoS is more than just a sophisticated till — it’s a vital business tool and an important investment, says LOUISE BANHAM

BACK in May 2011, James Bielby, chief executive of the Federation of Wholesale Distributors, told Retail Express that too many retailers don’t use EPoS. Three years on and an estimated 30% of symbol group stores and 70% of non-affiliated shops are still missing out on the numerous benefits an EPoS system can offer their business. Switching from a manual till to EPoS can seem confusing – there’s research to be done, comparisons of systems to be made and the integration of the system into the running of a store to take into consideration. But if used properly, an EPoS system enables retailers to save money and garner greater profits. “An EPoS system gives you the manage-

ment information you need to run your shop efficiently and profitably,” says Stephen Burnett, managing director at the Retail Data Partnership. “A good EPoS system is not an electronic cash register, it is a business tool.” Thanks to accurate pricing, efficient stock control and identifying shoplifting and shrinkage, EPoS can increase profits by 2-4%. John Furness, who runs Kingmoor Road Post Office in Carlisle, says when he upgraded to a more powerful and accurate system he benefited from a 3% increase in profits. “It’s the best investment I’ve made in my shop,” he adds. Suppliers also point to the increased control it gives retailers over their business.

It gives complete control over the shop, stock and cash, and the various reports the system can run allows shop owners to track everything that happens in their shop – especially when they’re not there. The investment needed for EPoS is generally in the region of £2,500-£3,000 per terminal, and the return on investment comes very quickly. “Return on investment varies on turnover and the more functionality the system has the greater the returns, but it can be anywhere between six to 12 months, on average,” says Richard Holder, director at Reposs.

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FEATURE EPOS SPECIAL

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why EPOS?

RETAILERS

VIEW

epos a simple guide

Kay Patel, Best-one, Stratford, London

“NOT so long ago I invested in a new EPoS system, my old one was great and did exactly what I bought it to do but after having had the system for many years I realised that it had its limitations. Now that I’m really getting to grips with the system, it’s well on its way to paying for itself. Did you know that moving the angle of your in-store bakery stand can increase sales by up to 50%? I didn’t until I analysed the sales after staff had made a change. “The problem is that there are too many EPoS providers out there and making the right choice is a hard one, especially seeing as you can be tied in for life via ongoing support fees. You’re also obliged to stay with the same provider if you ever want to expand your business, otherwise you will face compatibility issues. Before investing in a system you’ve got to take your time and do a good deal of research to see if it does exactly what you need it to do for you and your business. “Whether you are a single site newsagent or a multi-site convenience store operator a good EPoS system is vital to keeping your business competitive and profitable.”

Bay Bashir, Belle Vue Convenience Store (Lifestyle Express), Middlesbrough “INVESTING in EPoS was a big decision and I was worried about the computer side of it, but two and a half years ago I installed it in my store. You just get used to it and the more you play around with it the better you get. “It cost me £10,000 to install, but it has already repaid that amount several times over. It’s just had a massive effect. The amount of time it saves you in your business is huge. “Customers really prefer an electronic system rather than written prices. They now look at my staff when they are paying, rather than the prices being entered into the till. Our customer relations are at an all-time high. “One key benefit is that promotions are automatically updated. This removes any staff errors which may occur. I tested a product range that was on display on a gondola end at the front of the store and analysed the data using EPoS, which showed sales increased by 47%. I now continue to display the range in that location, but I also keep an eye on results to see if anything changes. “If you are unsure whether to get EPoS, my message is this: just get it. There is plenty of support for retailers who are new to it.”

Making the leap from a traditional manual till to the high-tech smarts of EPoS can be a daunting one — so here’s our guide to working out the best EPoS for your business, how to get set up and what benefits it will bring to your shop

WHAT TO CONSIDER Is EPoS right for you? Mull over these important points before taking your store to the next level

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MONEY FOR NOTHING? Are you making enough money for it to be worthwhile? As long your shop turns over more than £6,000 a week an EpoS system will increase your profits if you use it properly and act on the information it provides. SHOP AROUND: Does your wholesaler have an approved provider? Check out the system and get a quote, but don’t sign before checking out the competition. NEWS FOR YOU: Can your news wholesaler help? Menzies Distribution and Smiths News provide 0% interest-free funding for EPoS systems, which you can pay weekly on your newsbill. GET A DEMO: Will you be shown how to use it? Get the EPoS provider to visit your shop to find out your needs and give you a free-of-charge, no obligation demonstration. SERVICE INCLUDED? Does the EPoS supplier you’re considering offer customer support as part of its service package? Ask for details and for customer references. Some say they offer support, but when you telephone them you have to leave a message and wait (sometimes for days) for them to call you back. EASIER PROMOTIONS? Will your chosen system allow you to offer customer promotions more easily? Some systems make programming such promotions so difficult that you might as well go back to manual tilling. EXTRA COSTS? What are the additional costs? Check that support fees are reasonable, what they charge for software upgrades and whether it will cost if you want a specific function or change to the system. CAN YOU FIX IT? Will you be covered for repairs? Make sure your EPoS system support includes full onsite repair or replace for hardware, otherwise you could be left without a till. TRADE PROTECTION: Will you be protected if the EPoS supplier stops trading? Find out if you get a lifetime licence to use the software and, if the company stops trading, you will not lose your data and can carry on using the system.


JUNE 17-30 2014 betterretailing.com

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the stat

£2,500 The average cost per terminal for EPoS is in the region of £2,500-£3,000

70%

of non-affiliated shops don’t have an EPoS system continues on p24

HOW TO SET IT UP Here’s your easy 1-2-3 guide to getting EPoS up and ready

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MAKE SURE YOU HAVE BROADBAND. You need to have broadband in your store, so that your EPoS system can communicate with your provider’s servers for updates and so that customer support staff can correct any faults that may occur.

DO A PRE-INSTALLATION SCAN, IF POSSIBLE: If your chosen system offers an optional pre-installation scan, use it to scan each item in the store and key in the prices that they sell at. This means that when the system arrives it already has all the prices correctly on the till, so you can start trading immediately. GET ONSITE TRAINING AND INSTALLATION INCLUDED AS PART OF YOUR EPOS SYSTEM. This means you get the system setup correctly and you can use their experience and knowledge to get the most out of your system. Find an EPoS provider that has EPoS sales technicians, so you will get the same person who gave you the demonstration to install and train you on the system. They will already understand your needs, they will have site surveyed the shop and they will not tell you the system does something it doesn’t.

TOP SIX BENEFITS EPoS is not just a money- and time-saver, it will also smarten up your range and store

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FINE-TUNE YOUR RANGE Many stores carry too many variants of the same product. In convenience retailing, you have to focus on the key sellers, and not clog up shelves with slow-movers. SAVE YOURSELF TIME AND COSTS It can help you avoid out-of-stocks and reduce wastage. Having electronic ordering and delivery notes can also save you a significant amount of time and reduce travel costs. GAIN MORE TRUST FROM CUSTOMERS Shoppers stop questioning prices when they see that you are scanning barcodes. It also prevents staff from making costly pricing mistakes. PROTECT YOURSELF FROM FRAUD Shop staff know that there is an audit trail of all transactions and are less likely to steal from you. Some systems send email notifications when staff make price changes help to prevent fraud. NEVER LOSE DATA As long as your till is connected to your EPoS supplier’s server, your data will be backed up automatically. SMARTEN THE SHOP’S APPEARANCE Printed shelf edge labelling clearly shows shoppers the price of each item and makes a shop look more professional.


FEATURE FOCUS ON EPOS

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JUNE 17-30 2014 betterretailing.com

To find out more about how you can incorporate EPoS into your business or update your system, contact one of the following companies: Response EPoS The Retail Data Partnership Ltd

www.retaildata.co.uk l @RetailDataP 01780 480 562 l sales@retaildate.co.uk

the best thing for selling sliced bread

ShopMate EpoS – tried and tested by over 1,800 retailers countrywide for more than 15 years. At The Retail Date Partnership, we strive to provide a robust EpoS system to enable efficient, rapid trading in the busiest store. Our Customer Support team has an enviable reputation for quick, efficient responses to retailers’ queries and problems.

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An EpoS system is not a cash register - you need a team who understand this to support you as you take your business into a profitable future.

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Secure, efficient, state-of-the-art tills, customised to your needs, with easy to learn software. Whether you’re selling sliced bread, The Sunday Times or Slush Puppies, find out how you could benefit from real time stock and financial control with Response EPoS from Norcon Computers.

Call 08456 432 431 or visit www.responsepos.co.uk

6551 Norcon 210x140 advert bread.indd 1

The right Response for your business

4/2/09 16:48:00

EPoS for C-stores & Newsagents 5 Year Fully Maintained EPoS deals from £17.54+vat per week*

• • • • •

Used by over 1200 Convenience Stores & Newsagents Free EPoS Upgrade – Paper Delivery Software 0% Interest Free Deals with Menzies & Smiths News Electronic links to Wholesalers & Symbol groups Onsite Training & Installation – 7 Days a Week Fully Supported

FREE Demo at your Shop

www.reposs.com

0845 0945 200

Would you be interested in taking part in a roundtable discussion on EPoS to learn from top suppliers about how it can help your business? Contact Caroline Cronin on 020 7689 3369 or caroline.cronin@newtrade.co.uk


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