For so many restaurants and other small businesses, the point-of-sale system is an overlooked component of business operations.
To be fair, there are plenty of crucial areas that businesses must focus on in order to be successful. But your restaurant POS system is perhaps your most significant operation tool. What is so often overlooked is that the modern point-of-sale software does a whole lot more than simply ring up transactions. A great POS system offers reports on inventory, sales, expenses, reservations, analytics, employee management, loyalty programs, and so on.
No domain is more competitive than the food industry. In terms of growth rate, the figures are unapproachable for ventures in this industry. But unfortunately around half of them fail in the beginning period itself. A pile of reasons for such failure includes is the improper location, unpractised management, awful customer service, lack of working capital, and difficulties and challenges in managing each and everything at one phase.
Nowadays, with the advancement of technology, ever-growing competition, and business enlargement; the best POS software can streamline your business affairs to make them more smooth, efficient, and productive. A solid restaurant POS system perfectly fits your business objectives and helps to streamline and assemble operational tasks includes inventory management, sales reporting, and analytics, so that you can deliberate on the other facets of making your restaurant business a great success.
So let’s see how POS software helps you in streamlining your restaurant operations?
The latest and advanced POS systems help in swapping the old and traditional ways of cash registers, bookkeeping, and billing methods. With the extension of your firm; it is very significant to streamline all the business tasks to accomplish essential objectives and still supply excellent service to your customers.
Touchless billing and delivery are the new normal. The finest POS system allows your establishment with further varying features than the traditional cash register. These various features drives will organise your inventory management, sales reporting, and analytics, employee management, loyalty programs successfully and efficiently.
All POS systems will have all the basic features. But look for more than the basic features. Here’s what a state-of-the-art restaurant POS system can offer:
Streamline your restaurant operations
Operating and managing a restaurant is definitely a tedious process. But with the latest and innovative restaurant system, you can now handle every operation from a single phase. It will assemble the order from the front-end and with high accuracy, it will direct it to the kitchen within a blink and hence persuasively reduce the waiting time. Also, the inventory processes can be managed within a click so that the entire tasks can be performed smoothly all the time.
POS systems are the warehouse of every business which runs are revenue-oriented and customer-centric. It is extremely necessary to have the best and the finest POS systems in place to pull off the business objectives. As restaurants have numerous areas and outlets, a cloud-based POS is a best and fruitful method to supply the same quality and quantity at all the outlets and streamline your operations.
To keep up with the rapid changes in the retail and restaurant industry and also the growing needs of customers a well-organised and flawless system is highly necessary. An extensive point-of-sale (POS) system which can incorporate this requirement, making every process simpler, easier, and quicker is the ultimate solution for this.
A POS solution can enhance the customer experience by providing end-to-end tailor-made services. The system permits the buyer to personalise the food the way he/she wants. And provide the facility to use multiple payment options with accuracy through cash, card, cheque, or account. In this way, you can build a stronger relationship with your customer that boosts customer loyalty.
Customers’ pleasure and contentment are the major influential factors to the success of every business. When a customer is happy there is a huge chance for repetitive business along with the fact that 60% of business comes from existing customers. Having real-time insight into your catalogue helps you to analyse the top-selling food items. This reduces the jeopardy of mislaying a sale because of a raw material being out of stock. This, in turn, enhances sales and customer satisfaction. Special discount offers and loyalty programs are proven methods to gain returning guests, enhance sales and productivity, especially in restaurants. And for doing so a POS system is necessary.
A full-fledged point-of-sale system can be used to assemble and store customer data, track and redeeming loyalty points, and adding special discounts on bills. With the back-end insights provided by such systems, you will have the potential to produce reports, which show the growth curve of top-selling food items, least interesting dish and so on. With such precise and accurate insights, you will able to customise the menu according to customer preference.
First-rate customer service endures after a buyer fulfiled their purchase and check out your restaurant. With a restaurant POS software, you can assemble relevant customer demographics, such as name, email address, and contact details. A point-of-sale system also permits you to inspect consumer behaviour. Using these demographics and insights, you can find out your regular customers are. Through a loyalty program, you can recompense buyers who frequently choose your restaurant over competitors. You can appreciably boost the value of your marketing. The better you promote, the effortless it is to maintain customers.
Accurate business reports
Analysing business growth on a daily basis is highly mandatory for redesigning and implementing new marketing goals. This is can be accurately done by using business reports available on restaurant POS software. With the irresistible use of these business reports, you can flawlessly organise the sales, credit, stock, inventory, most selling items, other areas to control the profits or losses, assist them to take necessary and data-driven decisions for the enhancement.
One of the most benefits of such innovative and advanced technology is it reduces the need for physical space and manpower to assemble and deposit data by enabling a massive cloud-based storage space. These documentations are digitally encrypted and set out much faster than the traditional way of methods. Also, these solutions can be used to assemble data anytime, anywhere from the limitless inventory, and most significantly without any error.
Things you should consider before purchasing a restaurant POS software
Picking a brand-new software for your organisation can be an intimidating or overwhelming process with thousands of endless options as well as queries. Choose what qualities are most important for your business to thrive. Then narrow down the list to find out the most favourable and well-suited point-of-sale system.
Every business has different needs and requirements, hence it needs different POS systems as well. To examine what features are most important to you before splurging on a new system.
Let’s check some important features that your POS system must have:
User-friendly and easy navigating
Almost of the point-of-sale system have all the fundamental features like accepting multiple payment options, track sales and growth, assemble and store customer data, and optimise your restaurant’s inventory management. With state-of-art technology, most systems are blessed with such characteristics but definitely, they are designed the same. Each system has its own user interface, layout, and operating mechanism. So choose accordingly, like what feature works well with your domain and also our brand.
Easy navigation is also another unique feature your system should possess. A complex and sophisticated structure may create confusion and hassles while operating or even demands a proper training session for your employees. Remember you are installing such systems to ease your burden not to increase it. Also investing in POS systems that possess loyalty program capabilities and tools. Such tools assist in collecting their contact details and linking the same to their loyalty program accounts.
The system should also help in time management. If the system doesn’t navigate and wasting your valuable time then all its add-on features have no use. The navigation should be done within seconds not hours!
A POS system will surely help you in collecting and storing all the significant and confidential data about your business. But a mPOS or mobile point-of-sale system will give you the ability to access it at any time from anywhere. With a conventional system, you are restricting your business from reaching thousands of target customers out there. But when you pick one with mobile-enabled and mobile-optimised features, the chances are endless.
Mobile POS (mPOS) systems permit you to use the customer database and other vital insights from any web browser, any device no matter where you are. The cloud-based technology helps in providing all your major transaction details at your fingertips with a few clicks. Today, you can easily find a different and modern version of restaurant setups like food trucks and pop-up events than ever before. From that, it’s important and crucial to understanding the need and amount of mobility your business needed for outracing the competitors and for productivity before settling on a particular POS system.
Reliable and customisable hardware
If your POS system is unreliable and doesn’t provide the option for customisation according to your business needs then your investment is utterly lost. There is certain software that accepts vendor-specific hardware only and hence doesn’t offer customisation. On the other hand, there is some software that allows the use of reliable hardware that provides the most flexibility. It permits the use of a tablet or other device through a third-party source to access the POS system. By selecting the best and advanced POS software that accept both processor hardware and personal hardware, you can use any devices you want in a sophisticated way.
Each domain has different requirements and prerequisites, so look for a point-of-sale system that is only designed for restaurants. Organisations in the food business have enormously different needs and requirements than other domains. Also, look for a system that can be personalised for your particular space within the food industry. There are so many POS platforms available in the market that are exclusively invented for various types of businesses like bars and pizza parlors. Also search for quick, stable, and trustworthy EPOS for takeaways that make collecting and delivering orders seamlessly, and accomplishing your targets efficiently.
Don’t settle for any POS system that restricts your business to reach your target customers. Be choosy and selective!
Integration and security
Do you familiar with the concept of POS integration?
It allows restauranteurs to use a wide variety of tools simultaneously by permitting applications to express directly to one another. In other words, instead of providing separate time for each application, it syncs everything together.
As are part of your loyalty programs you will collect valuable information about your guests, like their email id, personal number, age, visit frequency, transaction details, and address. Your point of sale system (POS) is also tracking your private company financials reports, and your internal communications may confidential information. The innovative and advanced Point-to-Point encryption of POS is considered the most standard payment security solutions. It effectively reduces fraud and takeover from malicious activities like hacking. These devices translate credit card information the second it’s accepted on the POS device and then it is sent to the software’s server.
Most POS systems provide a comprehensive range of data to the user but the way it presents the data differ with different systems. Detailed reports and unique presentability make the insights easily readable and provide better awareness about the metrics. The reports should showcase your top-selling food items and categories and your expenses and margin of profits to analyse the benefits of your pricing.
It should show separate reports on different methods, taxes paid, employee reports on hours worked and total sales they achieved, inventory reports on real-time inventory figures, customer reports on regular visits and purchase history, reservation reports on the number of reservations made in a particular time frame. These insights are the greatest assets to show your restaurant’s growth and examine areas of improvement.