How much does an EPOS system cost and is it beneficial for a small business?

Many types of businesses utilise EPOS systems as a quick and easy way to process transactions electronically. 

While this is the core function of an EPOS system, many additional functions are possible, from inventory management and till management to reporting and analytics. 

Since different EPOS systems offer different sets of functionality, with some, for example, having greater functionality with inventory management features as opposed to reporting, costs can vary greatly depending on the EPOS system in question. 

It can also depend on factors like the size and nature of your business, as there might be some EPOS systems that offer restaurant-specific features, while others are more retail-based. 

So how much does an EPOS system cost? Well, it can be difficult to give a straight answer with all these different variables to take into consideration. 

But this blog will go into all the different aspects involved in deploying an EPOS system in your small business so that you’ll know what to expect in terms of costs.

EPOS software

Some suppliers of EPOS software can quote for individual components while others quote for the complete system. 

They might also have a subscription-based model where you pay your costs monthly or make a one-time lifetime payment. 

One thing that you should keep in mind is that when it comes to EPOS systems, the more you can incorporate into a single system, the better. 

This will let you keep all your data centralised, which can simplify and streamline a lot of your operations. 

It’s worth a little extra investment upfront for an EPOS system that offers good features and lots of functionality that’s relevant to your business. This will save you time and money in the long run.

For instance, EPOS restaurant software can be more useful for certain restaurants. You could, however, consider getting a more general EPOS software if you also offer retail products.

So while pondering the question of how much does an EPOS system cost, you might be wondering whether an EPOS system is worth it, but remember that you should be thinking about the future as well.

EPOS hardware

When asking how much does an EPOS system cost, many people often forget that EPOS hardware costs should also be factored in. 

While EPOS software is the heart of the EPOS system, EPOS hardware is the rest of its organs. 

First off, to access the system, you’ll need a computer. This can be a laptop as well. You may also need various tablets to take orders. 

You’ll also need to think about factors like a cash register, credit card machine, a thermal printer for receipts, a customer-facing display monitor, and perhaps a wireless barcode scanner, depending on the nature of your business. 

Remember that there will also be small costs that add up with items such as paper, toner, cabling, and a steady internet connection. 

Often, for small businesses, hardware costs will be limited. As your business grows, however, you might end up adding more and more items. 

This is why your EPOS system must be easy to set up on new devices. 

With certain EPOS systems, specialist installation may be required for every new device you add to your network, which can stack up costs considerably, especially if you’re a business that will be consistently adding new tablets to take more orders.

EPOS support and maintenance

When considering the question of how much does an EPOS system cost, you should also remember that support and maintenance play an important role. 

There’s no ‘one size fits all’ solution, so it’s pertinent that whichever EPOS system you end up choosing, you find one that can customise its software to your needs. 

More customisation will often result in higher costs, but if these customisations can significantly simplify your operations, it’s often worth the cost. 

Most reputable suppliers will offer unlimited support following your purchase. Some suppliers, however, may only offer training and support at the time of purchase, with extra costs for every subsequent instance you require additional support. It’s important to verify whether this is the case with your supplier of choice.

How much does an EPOS system cost? It depends.

An EPOS system is one of the most valuable investments you can make for your small business, as it can ensure that your operations are streamlined and centralised, making it simple and easy for you to scale. 

So while the costs of an EPOS system may vary, you can find one that’s suitable for your specific business requirements.