May 08, 2020
Top Uses of POS Software for Your Restaurant Business
Mobile and tablet compatibility allows business owners to view and monitor transaction data from any remote location.
A POS (Point of Sale) system is a computer system used for ordering, tracking, and keeping tabs on sales. It is now an essential part of running a restaurant business.
There are many possible ways that inter-connected data can help restaurants do a good job. This is where POS integration proves useful. The POS is the main storehouse of revenue data for a restaurant.
By matching this data with the customer, ordering, or inventory data, restaurant owners, are to find trends and factors for success, based on revenue rather than other fuzzy metrics. This leads to better decision making and more profits using restaurant software.
Method of POS Integration
POS integration is a software solution that enables data sharing between POS and other systems in a restaurant. Data flows from POS terminals to a centralized POS server and then through customer integration software to a data warehouse that is cloud-based.
Benefits of POS and POS Integration
· Helps in personalization
Personalization is the current buzzword in the restaurant business. Technology is playing a central role in providing restaurants, the tools required to offer everything from better marketing to customized service.
POS integration takes the mode of personalization to the next level. In previous times, restaurants used tags, notes, and diner histories to gain personalized information.
But currently, POS software enables restaurant staff to track what customers ordered on previous visits and what they spent money on.
· Find VIPs
Repeat guests and VIP’s are the focal points of a restaurant business. It is extremely important for you to define who your VIP guests are and when they walk into your restaurant. VIPs can be defined on the basis of realized revenue instead of guesswork or number of visits. POS software helps you to connect 'guest spend' to your customer database. Using this, you can identify who the VIP’s are, who will support your restaurant the best way.
· Potent guest analytics
POS is a good tool to understand the performance of a restaurant. Restaurants in the past have had poor data in terms of guest analytics. Through POS integration, guests and tables can be matched to POS revenue, implying that restaurants can track the link between customers and their spending. Using POS, restaurants can understand details like total monthly guest revenue, monthly average guest spends, and the average lifetime value of guests.
· Segmented marketing
POS integration makes possible advanced segmentation of customers based on order history and revenue data. This enables you to send targeted emails to guests as per certain criteria. Examples include special offers for popular meal items.
· Time reduction and easier management
Using a POS system in a restaurant can save time for bartenders, cooks, and servers. For instance, when a server takes an order for entree, drinks, and dessert, instead of having to go to three different preparation areas, the orders will be sent to three POS terminals, while a full order a receipt is printed at the server terminal.
· Control over errors
POS systems in restaurants avoid or at least reduce the scope of human errors. For instance, poor handwriting sometimes results in a wrong reading of handwritten orders. When an order is misread by a chef or a bartender, they may produce a wrong item, resulting in wastage of time and money. When orders are placed through a POS system, they are neatly printed at the terminals in the kitchen and read easily.
· Processing of credit cards
When you buy a POS system for a restaurant, you will have the option to include a magnetic stripe reader for processing credit cards. This may prove highly useful at your set up because you can process, run, adjust reports and maintain records of all transactions of credit cards without needing to buy and install a separate machine for credit cards.
· Detailed reports of business
The most popular advantage of using POS in service companies in the generation of detailed business reports. Since every order of business is recorded in real-time through the system, generation of reports of credit card transactions, sales, inventory, stock, profits, and loss can be accomplished at any terminal at any time. By using a POS in your restaurant, you can design efficient and simple record-keeping and avoid excess hard copies by creating a kind of digital file system.
· Control over theft
A common problem that lowers the profits of a restaurant is theft. When servers fail to charge customers for served items or take orders home without paying for them, it might lead to falling profits. By using a POS ordering system, restaurant managers and owners can track exactly what was ordered, by whom and whether it has been paid for.
· Correct tracking of sales
Modern POS systems help you to track each sale you make easily and accurately. This information permits you to make better-informed decisions for your restaurant business. For example, you can find out which menu items are most popular by the end of the day. This will help you be prepared for demand the next day. Such tracking through restaurant management software makes you and your staff more productive.
· Better management of inventory
One of the biggest headaches for a restaurant manager is how to track inventory when many deliveries and packages come in. A POS system aids you in managing what is in stock by offering an accurate and updated snapshot of available items.
The POS tracks details about each product, like the number of sales, prices of items, and date of sales. It automatically tracks and controls inventory via a scanning process instead of a manual process such that you are freed time for other important business activities.
· Better display of menu
Your employees will need to spend less time searching for a menu item after you use a POS system to program a beautifully designed display for them to use. Staff will employ a faster check out routine which appeals to customers.
Whether you are running an upscale restaurant or a counter-based store, it is high time you make the change to adopt a POS system. By adding a POS system, you can focus on what matters most, the quality of your food, and service to customers.