There is no denying that investing in such elements as marketing and décor go a long way in fostering a restaurant’s growth. However, having the right technology in place plays an equally critical role here, with restaurant POS software topping the list of “must-haves.” Having full control of your restaurant’s operations should not be overlooked. Here are eight benefits to be reaped by using a POS system that runs restaurant POS software.
- Easier tracking of sales: Restaurants handle a high volume of cash and credit cards each day. Unlike traditional cash register systems, restaurant POS software tracks these sales down to the penny. Such software also enables operators to see which items are selling and, in turn, to identify the need for changes in the menu.
- Hassle-free processing of credit and debit card transactions: Many restaurant POS software offerings handle credit and debit card processing, eliminating the need for separate systems and peripherals. This makes credit and debit card acceptance an easier, faster, and more secure proposition for restaurants and customers alike.
- Easier preparation of statements, such as profit and loss and tax: With this feature, necessary figures are right in the system, saving hours of time and effort.
- Enhanced security at the point of sale: With restaurant POS software in place, servers are accountable for all sales rung up and cannot alter customer checks without a password. This helps to maintain a lid on employee theft and prevents staff members from giving discounts to their friends and family members.
- Better tabs on labor. Restaurant POS software can function as a time clock, with employees signing in and out in the POS system. Such a capability facilitates payroll preparation. It also saves on payroll expenditures.
- Better tracking of inventory. With restaurant POS software in place, restaurant operators can keep close tabs on inventory and food usage. Identifying usage patterns allows for better planning of ingredient purchases, eliminating or minimizing shortages as well as decreasing the incidence of over-ordering.
- Tighter off-site control. Some restaurant POS software programs give restaurant owners and managers the option to log into the POS system via a web connection. Remote monitoring of sales, inventory usage, labor patterns, and the like allows problems that may otherwise have remained undetected to be quickly identified and addressed, protecting the bottom line.
- More effective use of human resources. Deploying restaurant POS software frees up staff from performing time-consuming tasks, such as manually performing cash register reconciliation and double-checking disparities in sales or other figures. Time saved can be devoted to customer service, again bolstering the potential for increased profitability.
Traditional cash registers have their place in the hospitality and retail industries—but their applicability is now severely limited. The benefits listed above go a long way in helping a restaurant reach its full potential. Even the best owners and managers can benefit from restaurant POS software. POS software can also help cover up – or even eliminate – weaknesses and problems in your restaurant’s processes. Deploying restaurant POS software and a complete restaurant point of sale system is a far more sensible, advantageous approach for operations of all sizes.