Everything is becoming digitized.
So, why wouldn’t you try to adopt an effective solution that automates your restaurant business operations and generates more sales?
The task isn’t that much easy! Well, there is much more you’ve to do than roasting a perfect steak or preparing a stunning table for customers.
In this fast-growing environment, it’s essential to pick a tool or software that keeps your restaurant business evolving with the modern market. The primary objective of such a system is to provide countless benefits and profits.
Therefore, find an efficient restaurant Point-of-Sale (POS) system that goes a long way to run your restaurant business operations evenly.
A restaurant POS software is a pivotal component of your business. Having such integrated systems won’t only power up your business but also assist in making informed decisions.
Generally, POS solutions are featured with inventory management, online ordering, customer management, all-inclusive reporting, marketing, and more. These systems benefit the restaurant, bars, and cafes in many ways whether it’s about maximizing sales quickly or regaining customers that have stopped visiting.
Below, we’re going to mention some evidence regarding this. Let’s have a look:
Some True Facts
- According to Toast’s annual Restaurant Success Report, 95% of restaurateurs acknowledge that the restaurant POS system improves their business efficiency.
- Restaurant POS Terminals Market size raised USD 10 billion in 2017 and is predicted to expand at a CAGR of over 13% between 2018 and 2024. The global industry purchases are expected to approach 20 million units by 2024.
- Mobile POS Terminals Market size exceeded USD 20 billion in 2019 and is predicted to expand at a CAGR of around 19% between 2020 and 2026. It’ll reach 55 million units by 2026.
- The global POS terminals market size was estimated at USD 69.0 billion in 2019 and is predicted to reach 7.5% CAGR during the projection period.
Now, you can imagine the benefits of a restaurant POS system!
The computerized and comprehensive POS system tracks food inventory, transactions, cash flow and simplifies bookkeeping to a great extent. Hence, it will always be a great option to improve communication by sending emails and SMS to customers for offers and discounts. An integrated POS system can’t only reduce wait time but can also control confusion between kitchen staff, bartenders, and waiters.
However, all restaurant POS systems aren’t the same. Each of them has its unique and individual functionalities. So, what exactly should you pay attention to while choosing an efficient restaurant management software?
We’re here to help you to discover the precise solution for your restaurant whether you’re just getting started or have been operating it for years.
So, before installing one, determine – is your choosing POS software’s features matching with your business requirements or not? This further will help in making a business-oriented decision.
What is Restaurant POS Software?
A restaurant POS software handles and streamlines all the restaurant business operations. Previously, a traditional POS system was only limited to a restaurant billing software that took orders and generated a receipt.
However, with the radical technological change from manual to automated processes, restaurant owners easily manage their entire business through a modernized POS system. Such revived software is armed with Customer Relationship Management, Table Management and Reservations, Kitchen Order Management, Stock & Inventory Management, Loyalty Programs, Smart Reporting & Analytics, and more.
Due to the availability of such features, the cloud-based restaurant POS systems become end-to-end solutions for various restaurant businesses.
Benefits of Installing a Restaurant POS Software
Investing in a high-quality POS software system means running your business efficiently and receiving more profitable sales. Whether it’s about simplifying communication between the kitchen and the wait staff, tracking inventory, or saving a lot of money in your bookkeeping department, a restaurant POS system can make every process easier, smoother, and more agile.
Here are the following benefits associated with it. Let’s have a look at the following:
- Generate a more detailed and accurate report on a regular interval
- Allows faster order processing, improves table management, and deliver food on-time
- Reduce wait time and increase customer satisfaction
- Better tracking of inventory with an accurate amount for stock movements and daily usage model
- Eliminate human errors
- Provides advanced security from data breaches and frauds
Key Features Associated With Restaurant POS Software
#1. Flexible Payment Processing
Some restaurant POS systems haven’t necessary functionalities. You must be aware of those systems that only have a single payment processor.
Restricting your business with a “payment processor box” is a big mistake. Everyone doesn’t have the same mode of paying money online. Therefore, you should always look for a POS system, like Sparkresto, that offers multiple payment options to customers. As a result, customers will get a smooth transaction process. Whereas, the restaurant owners will receive a faster response with zero failures.
#2. Loyalty and Reward Points
Make sure your customers are feeling happy and valued whenever they order food from the restaurant. And this could be possible through loyalty programs. Such programs are a great option for turning regular customers into loyal ones. Even, these programs are also an excellent option to increase customer loyalty, revenue, and business visibility.
Restaurant POS systems’ loyalty program feature builds long-lasting relationships between you and your customers. By gathering valuable data of their previous visits through the POS system, you can set reward points or loyalty programs for them accordingly. This will win the hearts of the customers and let them be loyal to your brand. Also, increase client’s rush at your restaurant.
#3. Simple Interface and Quick Checkout
A simple and easy to use interface means allowing your employees to learn quickly about the POS system. This won’t only save precious time and money but also help in providing excellent customer service. Instead of fumbling through various steps from accepting orders to payments, you need to ensure that all processes are fast with a seamless flow – which is possible through a comprehensive restaurant POS software. Such cloud-based systems are simple, easy, and fast. Even these systems have an intuitive layout, easy-to-use interface, and fast hardware as well. It means you can handle everything within a few seconds from reserving a table to accepting payments and fast checkouts.
#4. Stock & Inventory Management
Ignoring stock and inventory in the restaurant business means you’re not keeping an eye on ins and outs of items.
But, those who are effectively using a robust POS software signify that they can take control over the stock and inventory section. Additionally, the restaurant owners or manager can also get a detailed report of the actual stock. They can also determine – how much their food costs and what are the profit margins, how much stock they have in hand, and other various factors.
Indeed, most quality POS solutions have a built-in inventory control feature that provides the perfect defined figures of stock expenses. Now, you’ll never have to disappoint a customer again by informing them their favorite menu item isn’t available.
#5. Table & Order Management
A smartly programmed POS software, like SparkRestro, has a table and order management feature. It means your customers can book tables online, so you can quickly update the status based on customers’ reservations.
As a result, a POS system will keep operations aligned by showing which tables are available, occupied, or being freed at what time. This integration formulates a seamless experience for organizing table bookings.
Hence, a table and order management feature will manage all your front house operations. It means you can promptly focus on customer services while your choosing POS solution is automatically assigning tables to your customers.
#6. Employee Optimization
Sometimes, it’s quite tough to manage the details of employees like – shifts, attendance, overtime, job types apply, and many others. However, having a well-featured POS system can easily keep an eye on your new joining employees, set wages, and monitor their tasks. Plus, it can streamline time clocks, maintain payroll, arrange tasks scheduling, managing HR, and monitor employee attendance, centralizing all of your essential business data and putting actionable reports at your fingertips.
Hence, an employee management system in POS solutions helps business owners and managers track their employees’ activities, from sales made to how many hours they worked.
#7. Easy to Setup and Configure Menu
In any restaurant, menu configuration must be simple and easy. But, some traditional systems require rebooting processes for making changes in the menu item. Who has time for that because no one wants to reboot the system to make minor changes in the menu?
Therefore, you must adopt POS software that fits your restaurant’s menu perfectly and prices electronically. Make sure your POS system helps in making adjustments in the menu quickly. It doesn’t require any rebooting or restarting process to make confirmation in the menu items. This will go a long way when it comes to making profitability and productivity.
#8. Marketing Tools
Every restaurant business owner requires marketing tools and resources to grow their business. And, there isn’t any more reliable tool than POS software when it comes to generating more leads. With POS software, a business owner can send immediate SMS, automate Emails, and personalize newsletters for better business marketing. Hence, having such an automated marketing POS solution helps in keeping your customers engage and coming back. Additionally, the restaurant POS system attracts potential customers from all channels like social media, emails to benefit the businesses. Offering coupons and discounts, online table reservations, and a well-established social media presence generate high revenue.
#9. Quality Reporting & Analytics
Restaurant POS software equips with various types of customized business analytics reports, which further help in making the restaurant business more profitable. This feature will generate reports of sales by item, departments, labor costs, seating performance, and many others. It’ll also show sales comparisons between locations or across time periods, plus peak performance by day of the week, holidays, and promotions. As a result, you can make informed decisions to keep your business running smoothly.
#10. Reliable Support & Customer Service
Every business requires a system that has an amazing 24/7 customer support system along with qualitative services. And there is nothing more reliable than restaurant POS software. Such systems have the best features and focus on bringing more and more profits in the businesses. Customers book their tables any time from anywhere. And also, ask queries regarding their order issues through 24/7 services.
But, if your system fails in offering good support and customer service, you may lose all your potential customers, plus the overall reputation of your business. That’s why you need to choose a system that has 24/7 customer support service and reliable solutions to all problems.
Hmm!! So now, you’re well aware of the hardcoded features of the restaurant POS software!
Installing such a quality POS system means you’re giving your business a new shape in terms of attracting more customers, building strong relationships, and generating more sales. But, before finalizing a POS system for your business, it would be good enough to consider all the above-mentioned features for making your restaurant smart.
Hope you find this article helpful!
Thanks for your precious time!