A POS system (also known as a point-of-sale system) handles the entire checkout. Different POS systems come with various features making it critical to evaluate your needs before selecting your POS to ensure the system aligns with your business approach.
There are three different features you should focus on. One is where the POS system is customer-centric to store and use all the data ever compiled on a customer. The second is where it’s solely focused on streamlining checkouts and making it faster to get out of the store. The third is where everything is compiled that would be using the other 2 approaches, and automated using A.I. (artificial intelligence) which is the option used by most big-box brands today.
Over 60% of restaurants fail within their first year. Combine that with the constantly changing tastes of customers and the never-permanent regulations that govern merchant sales and you have a true solution for the industry. It’s a solution that could have been easily overlooked but found its way within many households.
What’s Different with POS Systems in 2019?
The main tech advancement serving as the core focus of 2019 is utilizing cloud technology. This makes it easier for multi-location companies to share information with each other, keep track of current inventory, and be able to roll out updates in a more simplistic way than embraced previously.
It seems that while we’re talking about POS systems making the move to the cloud, other industries will be following suit this year as well. It’s about delivering speedy, scalable, and secure hosting to businesses of all sizes, whether small or one of the biggest brands in the world.
Using a POS System Wisely in Restaurants
Many find themselves overwhelmed with setting up a new point-of-sale system for restaurants, but it doesn’t have to be that way. Look at the 10 touch-points below and put them to use when evaluating your options. You’ll probably find things to be way easier now.
- Anytime you collect, share, or use data you’ll want the best practices at work.
- Choosing the type of POS system for your restaurant sets the pace for success.
- Ensuring pricing is in line with your allotted budget ensures you don’t get led to doom.
- How does it work in terms of employee profiles and various profile configurations?
- Is the inventory tracking adequate for the vision and needs of the brand or no?
- Payment processing has taken a new life. Does it integrate with your merchant account?
- Relationships are everything. Does it integrate with your CRM or provide one that works?
- Scalability is everything in a world where businesses are growing at alarming rates.
- Support might not be the first thing to come to your mind, but you’ll be thankful for it.
- When working with tech, integrations aren’t an optional aspect, they’re needed to work.
How Restaurants are Making the Change
Instead of just pen and paper like it used to be, it’s customized POS setups, laptops, and tablets that are taking charge of the checkout process. The goal is to streamline the way that we take payments as well as the most critical business processes used commonly among companies regardless of the industry that they may have found themselves in.