Are you a restaurant owner looking to improve the speed of your transactions and have the ability to streamline daily tasks? Perhaps it’s time to upgrade your POS system. In fact, the average life expectancy for a POS system is only five to seven years. 

 

As technology continues to progress, it is important to remain competitive by upgrading your products to newer solutions. Having outdated systems with older software not only perform slower, but could put your restaurant in jeopardy without current security features installed. 

 

Functionality of Current POS
To determine if your restaurant is up due for an upgrade, answer the following questions and decide how functional your current POS system is: 

 

  • Is your current POS system accessible in various places throughout your restaurant or is it stationary?
  • Are you currently able to track daily operations such as sales, inventory, and cash management?
  • Does your current POS system make it harder to function during high-peak hours?
  • Are you able to manage customer details such as loyalty programs, email, and gift cards?
  • Does your current POS system cause slower checkouts?
  • Is it hard to make modifications to prices, specific menu items, or other data?
  • Are you currently spending more money on troubleshooting and maintenance issues than desired? 

Likes and Dislikes of Current POS
The next step is to involve your staff to see what their current likes and dislikes are with your current payment equipment: 

 

  • What frustrations are they experiencing?
  • What features are they looking for in a new POS solution that would help streamline everyday responsibilities?
  • What qualities could help improve the customer experience? 

Getting feedback from staff members will give you a better idea of what features to look for in an updated POS system. 

 

Establish List of Goals for New POS
Before doing research for a new POS system for your restaurant, decide what you want to get out of a new POS and establish goals: 

 

  • Do you want to improve customer retention?
  • Are you looking to increase your overall revenue?
  • Is it important to make daily operations more efficient?
  • Do you want a POS that is mobile and can be used throughout the restaurant?

Outlining specific goals that you are looking for in a new system will help prepare you for when you begin reviewing new POS systems. 

 

As modern technology and increased security becomes vital to the overall operations of restaurants, restaurant owners need to view their POS system as an imperative solution toward long-term success. With an upgraded POS system, your restaurant will experience faster transaction times, customizable reporting and solutions, and tighter security in place to combat instances of fraud. 

 

Are you looking to improve your payment processing capabilities for your restaurant? Discover how First American can help.