The current state of the economy in the UK is a significant concern for many business owners. With the possibility of a recession looming, finding ways to increase efficiency and cut costs is more critical than ever. One of the most promising ways to do this is by utilising technology like EPOS systems and self-service kiosks. According to Bloomberg, the UK is now the highest rank to enter into a recession this year, with a 75% probability.
So, what are EPOS systems and self-service kiosks? EPOS stands for Electronic Point Of Sale, which refers to the technology used to process transactions in retail stores, restaurants, and other businesses with a physical location. EPOS systems can handle all aspects of the transaction process, from scanning products to processing payments.
On the other hand, self-service kiosks are automated machines that allow customers to complete transactions without assistance from staff. These kiosks can be found in restaurants, retail stores, and airports and are becoming increasingly popular due to their ability to improve efficiency and reduce costs.
Using EPOS systems and self-service kiosks can be incredibly beneficial for businesses, especially during tough economic times. Here are three key ways that these technologies can aid in beating the upcoming recession:
1. Increased Efficiency
One of the most significant advantages of EPOS systems and self-service kiosks is their ability to increase efficiency. With an EPOS system, transactions can be processed quickly and accurately, reducing the time customers have to spend standing in line. Self-service kiosks can also help to speed up the transaction process, as customers can scan their items and pay without needing assistance from staff.
By reducing transaction times and increasing efficiency, businesses can process more transactions in less time, potentially increasing revenue and productivity. This is especially important during a recession, as every penny counts.
2. Reduced Labour Costs
Another benefit of using EPOS systems and self-service kiosks is that they can help to reduce labour costs. With these technologies, businesses can provide faster service with fewer staff members. For example, a restaurant with self-service kiosks may only need one staff member to monitor the kiosks and assist customers as needed, rather than multiple staff members taking orders and processing payments.
By reducing labour costs, businesses can save money and potentially reduce the impact of a recession on their bottom line.
3. Improved Customer Experience
Finally, EPOS systems and self-service kiosks can improve the overall customer experience. By reducing wait times and providing faster service, customers are more likely to have a favourable view of the business.
Kayana helps bring technology t the forefront of your business to aid your business and help it survive these turbulent times. From fears of recession to staffing issues, technology can help bridge the gap.
Above are some software and hardware available to help future-proof your business.