Did you know that approximately 55 percent of restaurant owners are not presently operating a POS solution for their business? Even though payment technology has advanced considerably within the past decade, many restaurant owners think a cash register is still just used to store money or calculate purchases. In order to run an efficient restaurant, it’s imperative to upgrade to a comprehensive POS solution to process payments, manage inventory and review sales reporting quickly.
For large or chain restaurants, the opportunity to incorporate the latest payment technology is easy, as they have the funds and assets to upgrade their products. On the other hand, small or independent restaurants do not always have this luxury due to cost or lack of resources to add new solutions. The good news is that most tablet-based POS solutions have become less expensive since being introduced, but still retain high quality functions and software.
Selecting the right tablet-based POS solution can bring in many advantages for a restaurant. Here are some of the key qualities a new POS solution can provide for a restaurant:
The great thing about a POS solution is that all reports are processed and managed digitally – meaning there is no need to manually write down inventory amounts, sales reports, or receipt information. Eliminating paper will allow a restaurant to focus less on basic administrative tasks and instead focus on customer service and building additional revenue.
Having an advanced POS solution with up-to-date software will greatly increase the level of service a restaurant can provide. An updated POS solution will allow employees to input orders faster, process transactions quicker, and keep the lines moving, ultimately decreasing the wait time and allowing a restaurant serve more customers.
Increased Customer Service
Utilizing a POS solution can also improve the overall customer experience. POS technology allows restaurants to easily change menu items, offer new menu suggestions, and compile a database of customers via their phone or e-mail. This is particularly helpful for the quick service and fast casual restaurants that have repeat customers who typically order the same items over and over via an app or online order.
Another unique feature a POS solution can offer is integrating loyalty programs. Now, loyalty programs can be monitored and stored within a POS solution, making it simpler to process loyalty points a customer is building or redeeming from their account.
According to experts, customers are more inclined to leave a tip if they order from a POS solution with a tablet due to the tip option showing on the screen when a customer checks out. Likewise, customers are less likely to leave cash tips directly on a table upon leaving in case they get stolen or mishandled.
Access to Data and Analytics
Unlike older cash registers, POS technology can provide real-time data and analytics to help increase productivity and costs. From managing employee time sheets, schedules, inventory, and projecting revenue, a POS solution is an all in one product that can save time while providing reliable, up-to-date information for a restaurant.
On top of faster functionality and the ability to process payments easily, POS solutions also come with the latest forms of technology that protect a restaurant from data breaches and fraud. Some security features a POS can offer include:
- PCI compliance
- Fraud Detection
POS solutions offer a variety of qualities and features restaurants of all sizes can benefit from. With POS technology, a restaurant can process less paperwork, gain faster payment processing, increase their customer service, add more tips, have access to data and analytics, and obtain advanced security solutions.