EPOS stands for Electronic Point of Sale. It is a form of technology which helps in maintaining systematic records of goods and services provided to customers. Earlier, people depended on cash registers to ascertain the exact amount of sales in a particular year. However, it was difficult and tedious to make a note of each and every product and service supplied. Moreover, they had to be tallied at the end of the year. The cashier was assigned the work of tallying, following which the tallying notes were put in the accounting ledger. All the finances and inventory records were required to be done manually. EPOS eliminated the need to maintain cash registers.

Thanks to EPOS, it is now easy to manage the records of each and every assignment. You don’t need to manually feed each and every detail of the prices and transactions of services provided to customers. There are various benefits of EPOS systems. You can effectively maintain inventory management. You can forge strong customer relations. You can take care of service management and even pay roll modules. The EPOS system combines business management and technology. This is why it is sometimes referred to as retail management software. EPOS helps manage every day cash and bills systems. You don't need to manually note down everything. A manager can glance through any figures and know about profits earned. He doesn’t need to ask his employees or subordinates about the day’s income or anything else.

Merchants depended on cash operated registers to tally their sales before the evolution of EPOS systems. Prices had to be manually punched in. They were required to be totaled by cashiers and inventory records were kept handy. Subsequently, the cashier’s notes were transcribed into the ledger to keep track of finances. Fortunately, EPOS made the remarkable leap in today’s technologically advanced world. However, some still prefer to use the traditional cash register. You can browse the Web to know about the leading web/mail order suppliers of cash registers, PC based EPOS terminals and hardware. It is the best time to invest in an EPOS system. More and more people are opting for PC based EPOS terminals and hardware.

Cash management is one of the vital components of EPOS systems. These systems now incorporate a wide variety of functions. They are used for service management, inventory management, customer relation management and even payroll modules. It helps managers access important figures including net income, total income, number of items of a certain piece of merchandise, number of units sold, etc. Such is the effectiveness of EPOS systems. Without it, retail stores would have gone for a complete toss. They would find it impossible to deal with day to day cash management and inventory requirements. The advent of EPOS is truly a boon. Its integration with inventory control and financial control has made it easier for businesses to manage their products in an organised way. Inventory control has never been so easy!