Running a restaurant requires dedication, discipline and great financial commitment. You have to deal with customers, staff, and health officials, among others. With so much going on, you require tools that can make you work more efficiently. One such tool is a Point-of-Sale (POS) system which will help you handle multiple functionalities at once.
You’ll be able to offer first-rate services with the best POS system. Stick with us as we review the most important things to consider when choosing your system.
What Is a Point-Of-Sale (POS) System
A Point-of-Sale (POS) system allows you to accept payment from customers. It will also help you manage other aspects of your business, including inventory, data analysis, and employee management, among others. Any time a customer walks into your business, they should be able to make payments without any problems.
What to Look For When Purchasing a POS System
The best POS systems should help you increase efficiency by allowing for multiple functionalities. You should consider the following.
1. Is it Easy to Use?
Technology will offer you a wide range of solutions for your business. However, it does not make sense if it is not easy to use. You want a system that is intuitive and user-friendly. The restaurant team that will need to use the POS system should be able to adapt to it easily.
2. Is it Affordable?
The type of POS system you choose for your retail shop or restaurant will depend on what meets your budget on the up-front cost. However, do take note of the monthly or yearly subscription costs because they will have a great impact on the bottom line. Also, consider what other apps you may need to integrate with it for additional functionality.
Note that you may also need to factor in a monthly subscription fee for some of the apps.
3. Are the Payment Capabilities Cross-Platform?
The best POS systems should allow you to process a diverse range of payment options. You should be able to take cash, mobile wallets, EMV chip cards, and contactless (NFC) payments. You don’t want to inconvenience the customers by tying them to one specific method of payment.
4. Can it Help You with Managing Inventory?
You have just made a reservation for a corporate group, and are already looking forward to the revenue. The guests come in, order the finest cut of meat, and ask for the best bottle of wine. You tell the bar manager to get the drinks, only to get a sheepish look from him.
He forgot to tell you that you had run out of stock of that particular wine. With a POS system that track inventory for the bar, you would not find yourself in this scenario. An excellent point-of-sale system should have advanced inventory management as one of its key features.
It should allow you to track inventory in real-time. The system should also send alerts to let you know when you need to restock certain products. You, therefore, don’t need to have one of the employees do a manual count.
5. Can It Help With the Management of Human Resources?
Running a business requires streamlined staff management. You have to deal with staff check-in and check-out, employee access, payroll and management, among others. A good POS system should allow you the HR functionality.
You want to concentrate on running the business, and not the employees.
6. Does It Provide You with Data for Business Analytics?
The best POS system will give you the ability to track your profits, sales, and overhead, among others. You should get data in real-time, and be able to access it remotely with cloud reporting. Keeping a close eye on your daily activities will help you avoid any problems which could impact on your business.
7. Can You Do Your Accounting with It?
As a business owner, you want to concentrate on selling your products. Dealing with accounting issues is not something you want to incorporate into your daily schedule. Even when you hire an accountant, you still need to have a pulse on what is happening.
POS systems for retail will provide you with reports that you can use for balancing your books. You should also be able to integrate accounting software, thereby saving you the money of hiring a full-time professional accountant. This will help with receipting, running coupon and loyalty rewards, item description and pricing, among others.
Some of the systems will allow you to print coupons directly onto the receipt. You can also publish information on loyalty reward programs; social media channel promotions, texting promotions, discounts, and more.
8. Does it Have Good Tech Support?
Whichever POS system you opt for, make sure the tech team is on standby 24/7. If the system goes down, you need to have the ability to sort it out as quickly as possible. Looking at customer reviews will always give you a good idea of how good the product and customer service is.
Why Do You Need the Best POS System in Your Business?
There are various things to consider to consider while looking for the right POS system for your business. We will explore some of them below.
1. Streamlining of Operations
A Point-of-Sale system will help you streamline operations in many different ways. You can regulate your inventory, manage HR functions, and track sales, among others. You’ll end up saving precious time, which you can dedicate to running your business.
The POS will also help you track purchases from the moment you place your order, all the way through, up to delivery.
When people come to your restaurant, they get to eat a good meal in a great location. So why inconvenience them by making them wait for a long time to pay the check. A POS system will increase efficiency because it keeps a running total and can print a receipt at the click of a button, when the customer is ready.
You also get to track what your customers like due to the purchase history. With inventory management, you can see which types of food and drinks, or products that move especially fast, assisting you in your marketing efforts, as well as letting you know which items sell more than others.
With the right point-of-sale, you don’t have to worry about human error. Since you don’t have to manage the inventory items manually, you can be sure of greater accuracy in your operations.
Streamline Your Business Operations with a POS System
The best POS system should allow you to streamline management and administrative activities in your restaurant or retail business. Your business needs to be able to operate efficiently to attract and retain customers.
Contact us for more information on Point-of-Sale systems, and see the growth in your business.