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Definition: Electronic Point of Sale
Electronic point of sale acts as an intermediary point of transaction between the customer and the retailer. It scans the bar code on the product and relays that to the bill amount while at the same time it relays that information to the stock update where the stock is reduced by one unit of that product.
In this way, a multiple of tasks starting from inventory management, printing the bill, producing the sales reports and others have been an added advantage for the retailers using the electronic point of sale. Currently, the EPOS plays the role of a salesman which generates the necessary information regarding the sales and their trends with respect to all products, sales cycle, ordering the out-of-stock products etc.
Moreover, EPOS acts as a customer retention strategy for KFC, Mc Donald’s restaurants where the customers are greeted with a smile for the purchase at the counter in the form of self-service.
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