A POS system can be a large investment for any restaurant owner, but it can also help you take a big bite out of your competition. Learn more about what makes this technology such a good investment.
The restaurant industry is serving up some impressive statistics.
Data from the National Restaurant Association projected sales of $863 billion in 2019 for America’s 1 million-plus locations. In addition, 44% of consumers said they’ve placed an order via an app or website, and 52%said they’d rather spend their money on a restaurant experience than do anything else. That’s a lot of people with an interest in restaurant-related tech which plays a big role in making or breaking their experience.
To give these tech-savvy consumers the experiences they crave, technology is becoming an increasing priority for restaurant owners. As much as 70% of quick-service
restaurant owners are investing in customer-facing technology, such as digital ordering and payment and delivery models. It’s not limited to fast food, though: Half of family dining and fine dining restaurants are making similar investments.
In a booming sector where competition is fierce, having the right technological element to your service is vital for customer satisfaction. How can your restaurant integrate technology to streamline payment and improve the overall dining experience? This is where today’s point of sale systems (POS) enter the picture.
Checking out the benefits of the modern POS
Today’s POS technology has gone beyond simply ringing up customer purchases. Traditional POS models were heavily and expensively prone to human error — miscalculations and oversights could erode a restaurant’s profits over time. Newer POS systems are far more reliable in these cost-crucial moments, which reduces financial loss.
Today’s POS systems are also capable of handling table orders, improving front and back of house communications, tracking sales and inventory, and more. When a POS handles table orders, for example, it records important data on customer preferences and time-specific order patterns, such as what’s selling best at breakfast or lunch.
These results feed into ROI by helping restaurant owners arrange menus more effectively around what customers and put less-tantalizing options on the backburner. This leads to better-informed inventory decisions and reduces expensive food waste — a negative metric that
costs US restaurants $25 billion annually and contributes to operational cost increases of 2%-6%.
How POS systems can improve payroll, and why that matters
Modern POS systems can also assist with more accurate payroll operations. This can be a big money saver for restaurant owners because
wage and hour mistakes, and the lawsuits that may arise from them, are one of the costliest financial risks in the sector. In fact,
they can cost employers millions. POS systems require employees to use unique sign-in/sign-out codes that put the power to prove their work hours into the manager’s hands.
Some POS options clock more than just “9 to 5”— they also measure sales performance for individual staff members. This helps owners identify star (or under par) performers and reward (or coach) those making (or losing) them money.
POS systems mean ROI in even more ways
Traditional POS systems can’t compare with today’s cloud-based models simply because the cloud is the only medium that allows restaurants to scale up as business improves. Older models will see a restaurant struggle to upsize.
Updates are simpler by cloud, too, meaning POS security can be improved much more efficiently.
Hackers go after restaurant POS systems regularly, so having a current and protected operating system makes your restaurant safer from financial attacks.
PCI compliance is the minimum your POS should offer — it not only provides customers with greater peace of mind (profitable in itself) but gives hackers a much harder time.
Technology is clearly necessary to enhance today’s restaurant operations and provide a safer, smoother customer experience.
Installing the POS system that works best for you is only the first of two important steps. Technology can’t provide ROI unless your team understands how to use it with confidence.
Unisol can provide the technology and the teaching
Unisol International prides itself on providing technology from some of
the world’s leading brands. Quality is our first priority in creating solutions tailored to each customer’s individual business needs. The next step is ensuring our clients are crystal clear on every aspect of their technology and fully confident in using it. Our team will answer all your questions and give you advice you can count on.
Don’t let the lack of a POS system hold your restaurant back.
Connect with us at the link below and let’s take your business forward.
UNISOL International is a worldwide merchandiser and leading technology solutions provider to 16 industry sectors, offering a turn-key approach with a customized, integrated, total solution concept that combines product fulfillment and a-la-carte professional services. Get in touch with us for expert advice on technology which suits your needs.
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