Traditional Point of Sale (PoS) systems used to be cumbersome beasts, mainly accessible to large enterprises, such as large high street chains whereas tablets as PoS devices makes perfect business sense.
However, the ‘invention’ of the tablet computer has had a dramatic impact on traditional, fixed PoS systems, with the result that not only has the barrier to entry for smaller businesses dropped significantly, but even those high street chains are also moving to more flexible and powerful alternatives – the tablet-based Electronic Point of Sale (EPOS) is here to stay.
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Indeed, it’s not just the increasing number of powerful, competitively priced tablets on the market (such as the ASUS M Series tablets), but a series of market forces that are in many ways producing the ‘perfect storm’ in EPoS.
Payment sector accelerates
The fact that cash is rapidly losing out to digital payments isn’t news in itself, but the competition in that market is ramping up exponentially. According to McKinsey, global payments revenues swelled to $1.9 trillion in 2017, and are forecast to become a $2 trillion business by 2020.
Companies such as iZettle and Square have taken on the market incumbents and gained significant traction. These newcomers provide Bluetooth card readers as a matter of course, enabling anyone from market trader to multinational to take card payments anywhere – given a tablet or smartphone running the app, of course.
Business automation kicks in
In parallel, the ongoing trends of business automation and big data mean that business perceptions have shifted. What was once the preserve of large enterprises is now available to SMEs at realistic price points. Technology services such as customer relationship management (CRM) and Enterprise resource planning (ERP) are now readily available for low monthly costs, enabling SMEs to work more efficiently, reduce costs and minimise admin time.
The increasing popularity of integrated accounting packages has also had a significant impact, recently boosted hugely in the UK by the government’s Making Tax Digital initiative, which has rapidly migrated most UK businesses to digital bookkeeping packages. Many of these packages either offer their own flavours of CRM, ERP and EPoS offerings or integrate with the main players, thus encouraging wider adoption of ‘end-to-end’ business solutions. >>Read more