As the business landscape continues to evolve rapidly, so do the customer expectations and payment methods used to transact business.
Traditional point-of-sale systems, which have long been used by businesses to accept payments, are gradually being phased out in favour of mobile EPOS solutions.
Mobile EPOS solutions are contained within a handheld device that can be used to process transactions and accept payments from customers. It typically includes a card reader and a mobile app that allows you to process transactions swiftly and securely using an internet connection along with a smartphone or tablet.
Read on and explore why a mobile EPOS solution may be the right choice for your business.
Reasons to consider integrating a mobile EPOS system in your business
- Greater flexibility
With a mobile EPOS solution, businesses are no longer tied to a fixed location. Since it operates on a mobile device, it can be used from anywhere in the store or externally—be it at a trade show, market, or pop-up shop.
This means that employees can assist customers on the sales floor, process payments, and complete transactions without having to go to a fixed point of sale, making it an ideal choice for businesses that operate in multiple locations, have limited space, and provide options for payment upon delivery of products.
- More cost-effective
Mobile EPOS solutions are typically less expensive to purchase and maintain as businesses do not need to invest in expensive hardware or pay for installation fees. Unlike traditional POS systems, which can be expensive to install and maintain, mobile EPOS solutions are often available as subscription services.
This means businesses can get up and running quickly and start accepting payments without the high upfront costs associated with traditional POS systems, making them an ideal choice for small businesses that want to lower costs. They are also scalable, meaning that you can easily add additional devices as your business grows.
- Improved customer experience
By using a mobile EPOS system, businesses can streamline the checkout process and improve customer experience. Employees can assist customers on the sales floor, answer their questions, and complete transactions more quickly and efficiently (reducing wait times) while also being able to accept a variety of payment methods, including contactless payments and mobile wallets.
This makes it easier for customers to complete transactions and can lead to increased customer satisfaction, repeat business, and enhanced loyalty.
- Increased mobility
With a traditional POS system, businesses are typically tied to a specific location, meaning they can only accept payments from customers who physically visit their store. The portability of mobile EPOS solutions, however, makes it easy for staff to take payments on the go and from anywhere, whether that’s at a pop-up shop or even from a customer’s doorstep.
This mobility is especially useful for businesses that attend events, festivals, and markets, or for those that have a mobile workforce—where traditional point-of-sale systems may not be practical.
- Better sales
Utilising mobile EPOS solutions can help increase sales by reducing wait times for customers and can help lower the number of abandoned sales due to long wait times or payment processing issues.
Since employees can complete transactions from anywhere in the store, customers don’t have to wait in line to make a purchase. This can lead to an increase in sales and customer satisfaction.
- Enhanced inventory management
Generally offered as a standard feature, mobile EPOS solutions also offer robust inventory management capabilities. Businesses can track inventory levels in real-time, set up automatic reordering, and even receive alerts when inventory levels are running low.
This helps businesses avoid stockouts and ensure that they always have the products their customers want in stock.
- Higher convenience and ease of use
Designed to be user-friendly and intuitive, mobile EPOS solutions make it considerably simple and easy for staff to learn how they are used, saving time and reducing the need for extensive training.
They are also easy to set up and don’t require any additional hardware, providing an ideal solution for businesses that need to quickly process transactions without having to worry about complicated hardware installations.
- Detailed reporting
Mobile EPOS solutions provide real-time reporting, which can help businesses make informed decisions about inventory, pricing, customer behaviour, and promotions.
This data can be used to optimise business operations and improve profitability.
- Real-time analytics and data tracking
Most commercially available mobile EPOS solutions often come with analytics tools that provide the ability to track sales data in real-time. Businesses can use this data to identify trends and make informed decisions about inventory, pricing, and marketing strategies, as well as to identify areas for improvement.
In addition, this data can be accessed from anywhere, meaning that business owners can keep track of sales even when they’re not physically at their stores.
Considerations for choosing a mobile EPOS system
Consider your business needs: Select a mobile EPOS system that best fits your organisation and its operations. For example, if you operate a food truck, you may need a mobile EPOS solution that can withstand harsh environments and account for the perishability of stock.
Look for security features: Security is critical when it comes to payment processing. Look for a mobile EPOS solution that includes security features like end-to-end encryption and tokenisation to protect customer data.
Consider the cost: Cost is an important factor to consider when choosing a mobile EPOS solution. Look for a system that is affordable and scalable, allowing you to add additional devices as your business grows.
Integrate the ideal mobile EPOS system to elevate productivity and returns from your business operations
Working with a reputable and specialised provider that understands the specific requirements of your business can be the key factor in determining how well mobile-based EPOS systems can benefit your business.
Reach out to a provider with expertise and a solid track record that can assist you with specialist knowledge and insights on implementing the ideal EPOS system that suits your requirements and delivers maximum results for your operations.