As a restauranteur, you must be ready to face many issues on the way to successful management and operations of your restaurant. This entails, among others, overseeing stock levels, meeting customer demands, performing financial duties, decision making, report production, and follow-up of orders. But imagine if all the activities you perform in the working environment each day could be accomplished with ease and your operational problems solved right away? Well, a modern POS can help.
In this post, you will learn how a modern POS system can help make your work easier. The main topics of discussion are shorter processing time, stock management and turnaround, customer relations, efficiency gains, reporting and business intelligence, and safety. By the end of this post, you’ll understand how a modern POS system can fix several restaurant problems and reduce your workload.
Faster Order Processing
POS systems these days prove to be quite helpful in processing orders without the possibility of a misstep, thereby reducing the time being spent on it, which may enhance customer satisfaction. A survey conducted by the National Restaurant Association showed that 60 percent of customers felt that waiting times affect their restaurant choices. This implies that if the customers wait for a shorter time, they will be more satisfied, hence becoming more loyal.
Improved Inventory Management
Another aspect is that a modern POS will be also useful with stock management in your business. If you are in a position of being able to observe your stock, you can make the correct orders, as well as necessary acquisitions in relation to your stock. This can really assist in many ways, especially in cutting down on expenses. For instance, The Food Marketing Institute conducted a survey and determined that inventory management was known to be a significant concern with 70% of the restaurant entities responding that they greatly faced the concern.
Enhanced Customer Experience
A modern POS system may also help to develop individual offers to your customers, such as rewards and coupons. Collecting customer details can allow you to meet and exceed customer expectations by reviewing order history or reducing their bill. Research done by the Harvard Business Review stated that there is evidence which shows that when a company gives individualized attention, this can help act as an automatic means of maintaining customer relations.
Increased Efficiency
Another important, or more so assumed, benefit of acquiring a modern POS system is the improvement in different operations. Your staff will be able to provide the best service to the customers since they would be relieved of some of their numerous chores. This can lead to positive customer satisfaction and hence boosting the loyalty of the customers. From the NRA, technology has been identified as the reason for efficiency improvements, reported by 75% of the participating restaurants.
Better Reporting and Analytics
A modern POS system can also provide the features of reporting and analysis. These will help in the decision-making efforts in regard to the business. From this information, you will be able to make corrections to labor, create specials based on item sales, and any other changes using such data. Another research conducted by the National Restaurant Association creates an understanding that the previously mentioned 75% of restaurants are also aware of data analytics as an essential factor in their operations.
Improved Security
Additionally, a modern POS system can protect your business from cyber criminals and hackers. Specifically, an organization’s research company, Ponemon Institute, states that the average loss due to a data breach in enterprise companies is equal to $3.86 million. Thus, choosing a POS that has advanced protection tools will enable saving your business’ and your customers’ money and sensitive data.
It would be correct to assume that the implementation of a modern POS will solve the typical problems your restaurant will face and make work easier. The use of a modern POS system creates the possibility to work faster, including the order taking process, stock management, developing a personal approach with customers, increasing productivity, making correct decisions, and protecting your business.
