Running a restaurant is a tough job, so it is important to take advantage of anything that might make life easier. Previously we have looked at managing food costs and labor costs, as well as some common mistakes new starters in the restaurant business world make. Having the right systems in place can make a huge difference to the smooth running of your restaurant. With so much going on it is important to keep track of everything from stock orders and invoices to employee shift schedules. One of the most important systems to consider is your payment system. In the not too distant past there was only one choice for businesses dealing with customers face to face, and that was to have a cash register. Now there are a whole variety of options available. If you are still operating a cash register in your restaurant it might be time to think about switching as a modern POS system has a whole load of added benefits which can help you keep track of your finances, and enable you keep on top of the day-to-day running of your business.
So what exactly are the benefits of using a Point of Sale system?
Firstly POS systems make the accounting process much simpler. If you are still using a cash register you will know that sorting through hundreds of receipts each week is a time-consuming task which can often result in human error. There is nothing worse than the figures not adding up and having to start all over again! The POS system has in-built reporting which is easy to use, or you can customize the reporting function to create your own.
Another useful feature of the modern POS system is its ability to keep track of inventory. Keeping track of your stock in a busy restaurant is hugely important. It keeps all the information in one place so you can easily see when stocks are getting low. This also means you will be able to keep track of what is selling the most, which is useful in terms of influencing your menu, ensuring that all dishes you keep on it are selling well.POS systems are advantageous because they store information. This means that if you need to know exactly how much money you made a week ago, you can easily access these records and find out. You can use this information to build a picture of how well your restaurant is doing, what your peak times are, and similarly when you experience lulls in business. You can compare days/ weeks/ times of year and use this knowledge to make your business run more effectively and ultimately increase your profits. Unless you keep meticulous manual records then this is much more convenient than trying to get the same information if you only have a cash register in your restaurant. A modern POS system will also allow you to see your inventory in real-time as well.
A point of sale system also enables you to create purchase orders, this saves you time when it comes to ordering as it effectively eliminates that extra step. Using a modern POS system also allows you to automate ordering, for example an order will automatically generate if stock falls below a certain level. Therefore you can rest assured you will never run out of the ingredients you use the most.
Your customers and staff will also thank you! Most employees with experience in the service industry are familiar with using the modern POS system, and therefore any necessary training would be kept to a minimum. Point of sale devices are also much faster, and you can also provide itemized receipts which gives your customers peace of mind. Overall they encourage a slicker, faster service which your customers will no doubt appreciate.
The computerized POS system will also have in-built barriers in place to ensure that transactions are error free. It is easy, if using a cash register, to hit a wrong button and make mistakes, but electronic POS device have checks built into their systems to ensure these are avoided. Remember, lowering instances of human error will save you money. They also tend to be much cheaper to repair as nowadays it is hard to find someone with the right skills and knowledge to repair a cash register, therefore making it an expensive job.
So if you are ready to make the switch to a point of sale device, which one should you choose? There are hundreds of systems out there, and knowing which one will be best suited to your restaurant business can be tricky. Luckily there are plenty of review sites which have done the hard work for you. We have picked out some of the best:
Lavu – with customized reporting, lives sales figures and employee management functions Lavu is consistently rated one of the most helpful POS systems.
Sapaad – this cloud-based POS system boasts recipe management and menu engineering functions amongst its features, making it popular with restaurant owners of any size.
eZee Burrp! – according to reviews the benefits of this system include its ease of use and simplicity.
Shopkeep – great for apple users, this POS system allows you access to all your transactions and is easily integrated into the majority of processors already out there.
GotMerchant – If you are looking for the whole package GotMerchant will appeal. From installation to training you can rest assured this integrated system will change the way you manage your restaurant forever. With receipt printing, kitchen monitors, and cash drawers it keeps track of all your most important data. Technical support is also included.
So if you want to lower your business costs, increase productivity and employ intelligent, sophisticated systems for logging your information, then it might be time to invest in a POS device.
References:
http://www.businessbee.com/resources/profitability/3-of-the-best-pos-systems-for-restaurants/
http://www.nerdwallet.com/blog/small-business/pos-systems-point-of-sale-restaurants/
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