EPOS is about integrated features and data
Essentially, EPOS is a collection of hardware and software features that work together in an integrated way. A central part of it is data processing and storage of information in a system that facilitates till operations, inventory control, customer relationships and reporting.
Card payments are a good example of how this works. Card machines integrated with an EPOS processes cards for specific transactions linked to purchasing specific items from a specific cashier. All this data is auto-linked and recorded in the system for later reference or sales analytics.
Another key aspect of EPOS is the fact it’s no longer (usually) an offline product that the store owner maintains locally. Today, software updates are automatically enforced remotely by the POS company, and sensitive transaction data are encrypted and stored responsibly in the cloud, off-premises. This can only happen with a electronic POS system linked digitally to the internet.
There’s a consensus among industry leaders that all POS systems in the near-future – if not already – will be SaaS (Software as a Service), to use another acronym. This means the software cannot be owned permanently, but rather paid for periodically as a subscription for each licence. Customer support, ongoing cloud maintenance and software updates are included in SaaS POS.