What Is The Difference Between a Traditional Cash Register and a Mobile EPOS System?
Point-of-sale (POS) systems and cash registers are two invaluable tools in the retail and hospitality industry. They aid businesses in processing transactions as well as managing sales data.
Although the two systems have a similar objective, they differ in functionality and technologies used to operate them. Our technicians often get asked, “what is the difference between cash registers and EPOS Systems?” So we decided to create this blog post for those of you who are unsure.
The cash register is a machine that records sales transactions. It typically does so through the use of physical buttons or keys. It provides a basic level of functionality like totalling up sales and calculating taxes. Usually, it’s the small businesses with limited resources that use cash registers.
Mobile EPOS system. Conversely, an EPOS system is a more sophisticated technology. It uses computer software to process sales transactions. It includes various features, including inventory management, EPOS reporting, customer relationship management, and more.
EPOS systems also allow for the use of mobile devices to process transactions and manage sales data. Hospitality businesses like restaurants, hotels, and clubs typically use EPOS systems for their added functionality.
Key Differences Between Traditional Cash Registers and Mobile Point of Sale Systems
Cash registers have been around for years. But the dynamics in the hospitality industry have barely changed, necessitating businesses to upgrade their point-of-sale systems. It is why most companies within hospitality are making the switch to an ePOS system.
Cost
Without a doubt, the primary distinction between cash registers and Point of Sale Systems (POS) is their cost. Yes, the functionality matters too.
Cash registers are the best option if you’re new in the business and don’t have a large budget. They’re cheaper than an EPOS system in terms of upfront cost and basic setup.
ePOS systems, on the other hand, tend to be more expensive when you factor in the cost of EPOS system hardware and software setup.
But if you weigh the functionality and cost of an electric point-of-sale machine in the long term, you’ll realise that it’s a more cost-effective option.
Functionality
As previously noted, cash registers provide basic functionality for businesses. At the most, cash registers can receive payments, calculate the change, print receipts, and total up sales. It may not be enough for businesses that want to go the extra mile.
EPOS systems offer more than just basic functionality. With ePOS systems, you can have a comprehensive database of your customers, send loyalty cards, and promote special offers.
Further, you can view real-time data about your sales, analyse trend reports, and make informed decisions. Ultimately, EPOS systems save time for businesses.
An EPOS system also provides the ability to manage inventory, accept payments from multiple channels, implement customer loyalty programs, and more.
Moreover, ePOS systems can be integrated with other technologies, such as mobile devices, to enable sales transactions from different locations.
Security
Both cash registers and ePOS systems provide security features. Cash registers offer basic security, such as locking drawers and preventing accidental deletion of records.
EPOS systems come with advanced security features, such as encryption data protection and setting user permissions. It helps you to keep your customer data secure from fraud while managing valuable business information.
However, technical crashes may lead to data losses in both traditional and ePOS systems. Therefore, it’s crucial to have a backup system in place.
Advantages of Mobile EPOS Systems Over Traditional Cash Registers
Replacing your typical cash register with a point-of-sale system has enormous benefits for your business. Trust us; they are difficult to ignore. You’ll see the effects in every aspect of your business, not just at the checkout. So, toss that bulky cash register and reap the rewards of these benefits.
Lightening Fast Transactions
Every second matters when it comes to customer service, especially in the hospitality industry. Your customers don’t like waiting in long lines. So, if there are any, they might put the items back on the shelves and choose to leave. You can reduce that probability by replacing your traditional cash register with a hospitality EPOS system, like Power EPOS.
High Versatility
EPOS systems can integrate with any type of technology. You can set up devices like barcode scanners, receipt printers, and payment terminals. It will simplify the checkout process for your customers and staff.
Plus, using POS systems as terminals for delivery or pick-up orders will speed up the process. You can also accept reservations with them and display the menu on a digital screen.
Enhanced Efficiency
You can’t expect your staff, whether at a cafe or a restaurant, to remember every customer’s order in their head. Hotel ePOS systems come with an intuitive ordering system that allows staff members to enter orders quickly and accurately. It also allows staff to access customer data and loyalty points, making it easier for them to upsell or cross-sell products.
Easy to Use
A POS system comes equipped with a touchscreen. And in this digital age, navigating a touchscreen is like second nature to almost everyone. The interface is intuitive too. So, it’s easier to learn how to operate a POS system. It reduces training time and eliminates the need to hire extra staff.
Greater Accuracy
No one likes paying for someone else’s mistakes, especially when it comes to money. With a POS system, you can significantly reduce the chances of errors in calculations. The system will do all the math and help you process transactions accurately.
Use Cases for Mobile EPOS Systems
According to Business Insider, 2021 must have seen 27.7 million mobile point-of-sale devices in the US alone.
POS systems are being used in virtually every industry, including retail stores, restaurants, salons, hotels, etc. Here are three use cases for mobile point-of-sale systems:
Real-Time Product Lookup
An ePOS system can be used to quickly find product information and inventory availability. You can locate the product in your store and sister stores and reserve it there!
Built-In Loyalty Programs
POS systems are a great way to track customer loyalty. You can capture and use information such as product purchases while launching marketing campaigns.
In-Store Roaming POS
Equip your staff with the advantage of roaming in-store POS and let them check out customers from any point within the store.
Conclusion: The Benefits of Investing in a Mobile EPOS System Over a Traditional Cash Register
A mobile EPOS system offers several advantages over a traditional cash register. From faster checkout to reducing human errors, businesses can benefit from its intuitive features in many ways.
Moreover, it’s easier to integrate with other technologies. You can be at the top of staff management, reporting, stock & inventory, and payments. So, if you’re looking to upgrade your business, replacing a traditional cash register with an EPOS system is the way to go.
