As the 2024/25 tax year draws to a close, food retail and hospitality businesses are shifting their focus to financial planning for 2025/26. While revenue forecasts, expenses, and tax strategies take centre stage, one crucial yet often overlooked factor is the role of your EPOS system in optimising operations and maximising profitability.
More than just a till, your EPOS system is a powerful financial management tool that influences budgeting, cost control, and compliance. Here’s how making the right EPOS decisions now can set your business up for success in the next financial year.
How your EPOS system affects financial planning
A well-optimised EPOS system provides vital insights that help businesses make informed financial decisions:
Sales tracking & revenue forecasting – Offers real-time insights into peak sales periods, top-performing products, and customer purchasing trends. This data helps forecast revenue more accurately and plan future investments.
Cost management – By identifying slow-selling products, excessive stockholding, and inefficiencies, you can make cost-saving adjustments, such as optimising stock levels and reducing waste.
Tax & compliance – Ensures accurate transaction records, reducing tax reporting errors and making year-end processes smoother. With automated reports, you can easily track VAT, sales tax, and expenses for compliance.
The cost of keeping an outdated EPOS system
If your EPOS system is outdated, it could be draining your business financially without you realising. Here are some hidden costs:
High maintenance costs – Repairs, outdated software, and slow processing times can lead to downtime, lost sales, and increased support costs.
Manual workloads – If you’re still manually entering sales data into spreadsheets, you’re wasting valuable time that could be spent growing your business.
Security risks – Older systems may not meet modern compliance and security standards, leaving your business vulnerable to data breaches and fraud.
By holding onto an outdated system, you could be losing money every day in inefficiencies and potential security risks.
Why upgrading your EPOS system now makes financial sense
Investing in a modern EPOS system before the financial year ends can bring immediate and long-term benefits:
Automated inventory management – Reduce overstocking and minimise losses by tracking real-time stock levels and sales patterns.
Improved sales insights – Gain access to powerful analytics that help predict demand, optimise pricing, and tailor promotions to customer behaviour.
Faster transactions & enhanced customer experience – Speed up sales, integrate loyalty programs, and offer flexible payment options, improving customer satisfaction.
Tax benefits – Upgrading your EPOS system before the end of the tax year may qualify for tax relief through capital allowances or the Annual Investment Allowance (AIA), reducing your taxable profits.
What to look for in a new EPOS provider
Choosing a new EPOS provider involves more than just assessing a list of features – it’s about finding a system that truly aligns with your business needs. Key considerations include seamless integrations, secure payment processing, system reliability, and responsive customer support.
At Cunninghams, our Quantum all-in-one EPOS and payment solution has been designed to evolve with you, offering:
Multi-site management – Manage multiple locations through one single system.
Seamless operations – Easily introduce new functionality as and when you need, including scale and online ordering integrations, to streamline operations and enhance customer experiences.
Powerful reports – Gain access to valuable data that aids in making informed decisions.
Integrated payments – Payments By Cunninghams EPOS Group is a transparent solution that utilises the latest EPOS and android chip & PIN technology, designed with convenience, security and simplicity in mind.
Mobile capabilities – Take payments and manage transactions on the go with Quantum Go, perfect for everything from outdoor table service to temporary pop-ups like ice cream stalls.
UK-based support – Dedicated customer service ensures you have expert assistance whenever needed.
Plan for 2025/26 with a smarter EPOS solution
As you finalise your budgets for the new tax year, don’t underestimate the impact of your EPOS system on your operations. An outdated system could be costing you more than you think, while a modern solution can boost efficiency, strengthen security, and save you money.
Want to stay ahead of the curve? Get in touch with our team to discuss your requirements on 0330 024 5014 or email info@cunninghams.co.uk.
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