For an amazing Restaurant POS system all the information you needed
You may have come across the term “restaurant point of sale” but don’t quite understand its meaning or functionality. The purpose of a restaurant point of sale is to simplify day-to-day operations and provide an efficient way to manage tasks related to transactions, customer management, and inventory tracking. The system works by collecting all the data from the various interactions at a restaurant and analyzing it for insights that can help with decision-making.
Modern point-of-sale systems can be a bit confusing, so we’ve written this post to explain all the features they bring and what hardware you need to make them work perfectly. You’ll gain knowledge of:
- What is a restaurant POS?
- Restaurant POS system features
- The benefits of a restaurant POS
- Hardware a restaurant POS needs to function
- How much a restaurant POS system costs
Let’s take a look!
What is a restaurant POS system?
A POS system also referred to as a Point of Sale or ePOS system, is the place where transactions occur physically.
Traditional restaurants usually have a cash register near the bar or entrance, which is known as the point of sale. This area around the cash register is crucial for keeping track of pricing and sales. At your restaurant, customers have the choice of paying in cash, swiping their credit cards or through their smart wallets. They can easily exchange money for the service your establishment offers.
With the invention of cloud-based technology and mobile devices such as phones or tablets, static points of sale have become less popular. They are gradually being replaced by more modern retail solutions that make shopping experiences more convenient.
Restaurant POS system features
Restaurant Point-of-Sale systems are great for taking orders, payments and saving restaurant data. However, when equipped with additional restaurant management tools, the real value of a this system really begins to shine through.
When selecting a POS, there are several aspects to consider. These features need to work in harmony with the other elements of your restaurant’s software and can lead to massive improvements in efficiency. Ensure you have these elements before signing up for a system.
Staff scheduling
Most POS systems do not come with labour management and scheduling capabilities, but they have the option to integrate with various scheduling platforms. This will help you extend your business’s capabilities and give you greater control over your staff
For businesses with multiple staff members, it’s imperative to organize your staff and budget their labour costs appropriately. When selecting a point-of-sale system, consider if it has the capability to integrate with scheduling software so you can expand your team in the future.
Why not go one step further and invest in this system with integrated scheduling tools? This would simplify the process of clocking in and out, shift management and provide insightful data to help make sounder scheduling decisions.
Inventory management
Doing a daily inventory check should be a part of every business’s day-to-day routine – before opening and after closing. This practice is critical to make sure that food costs are managed efficiently and there is enough stock available to meet the forecasted demand for the following day.
Accurate inventory counts are essential to a successful business. You can either employ the traditional methods of manual counting, but that’s quite prone to error. Alternatively, you can use technology-driven systems for more reliable results.
The most efficient way to go about managing inventory in your restaurant is to utilize the functionalities already provided in your Point-Of-Sale system. Many POS systems offer features for monitoring food waste, supply variance and for recording beginning and ending inventory counts.
Keeping a tab on your restaurant inventory is crucial to reducing food wastage as well as ensuring you have sufficient stock to complete orders. This practice can be an effective way to manage your restaurant’s profitability.
QR code scan and ordering
Restaurant Table QR code makes life easier for your customers and your staff by providing an intuitive interface for customers to place their own orders in-store. For maximum efficiency, you want the QR code scanning system that works seamlessly with your POS system.
Integrated payments
Dealing with payments means dealing with the vitality of your company. In order to maintain your kitchen-producing orders, you should complete this task as precisely and effectively as you can. You may be losing money unnecessarily and working with less efficiency if your payment system is improperly linked with your point of sale.
To reduce confusion by knowing exactly what has to be paid and how much you need to budget for, think about selecting a POS with an easy payment system that enables you to accept several online payment ways.
What are the benefits of a restaurant POS?
Restaurants looking for a POS system have plenty of options to choose from and the advantages you can gain depend greatly on the features you opt for and the type of business your operating. A modern POS system, with all its features, is a great asset to have and can provide lots of value.
A pizza restaurant’s POS system would be greatly enhanced by an inventory management feature to prevent service interruptions caused by a lack of ingredients. Similarly, QSR restaurants in the UK need a dedicated support team to solve their particular issues.
Power your decisions with data
In the restaurant industry, it is important to make decisions based on more than just intuition. Data should be used to set menu item prices, check food costs, monitor sales and expenses, staff adequately, calculate tips and restock inventory. By having all the relevant information at hand you can make more informed decisions.
End-of-day reports, weekly, monthly and annual sales reports are available for most POS systems to gain insights into different levels. Use them to figure out the average peak selling times and top menu items from your store. You’ll be able to better understand your business with their help.
Offer takeout, delivery and order-ahead
There is no doubting that since the pandemic began, eateries have undergone a significant change in how they run their businesses. To serve as many clients as possible (fast food and quick casual restaurants) or charge more per dish was the traditional route to profitability (fine dining).
However, since COVID-19 began, table service has largely been discontinued, and restaurants have begun to pursue online sales similar to direct-to-consumer (DTC) eCommerce shops.
In the past, restaurants had to decide whether to pursue off-premise sales through third-party aggregators (whose prohibitively high service fees ate into already slim profit margins), or by managing the entire process internally, which many restaurateurs feared would be simply too much to handle on top of their duties on-site. But, we’re already witnessing a massive increase in restaurants employing mobile ordering services to fulfill online orders without having to construct and maintain a website. For instance, Flipdish interfaces with the majority of this systems, allowing businesses to sell to customers remotely, manage the customer experience, and keep more of their hard-earned money.
Mobile checkout and contactless payments
Cashless, contactless payments, which were already a developing trend in the business world, have become more prevalent since the outbreak.
While not all POS suppliers provide payment processing, the majority do supply contactless card readers and mobile payment terminals (more on those later). When compared to physically standing in line to pay, they enable waiters to quickly meet customers at their table and accept payments.
Run multiple locations from one system
Make sure to consider a POS system’s multi-location capabilities when purchasing one. If you want to expand your business by opening additional locations or franchising it, this is extremely vital. Verify that you can view sales information by location and obtain broad insights about all of your sites.
What hardware does a restaurant POS need to function?
You’ll need gear to run the POS software once you’ve decided on a supplier.
Consider your objectives and financial constraints carefully as you plan the launch of your restaurant Point of sale system to ensure you get the most out of it. In this manner, you’ll make wiser choices and set up the ideal system from the beginning.
Here’s a breakdown of what equipment you typically need:
Restaurant POS system terminal
Your point of sale system is physically housed on a POS terminal. For the majority of restaurants, a variety of mobile tablets are used, such as an iPad this system with a stand that can convert it to a countertop device as needed. Although some restaurant owners prefer to see reports on a computer, tablets can easily replace the requirement for a desktop computer.
Restaurant owners and operators have the freedom to select the hardware that works for them with cloud-based POS solutions.
Kitchen Display System (KDS)
An addition to your POS system for the rear of the house is a kitchen display system. In essence, your KDS pushes orders that servers deliver to the kitchen and chronologically displays them for the cooks.
In essence, a KDS ensures that you fulfill every order that enters the kitchen and links your front of house to your back of house. It might be a “nice to have” for smaller enterprises, but it’s crucial for any restaurant that processes large amounts of orders. A busy Chinese takeaway with a large menu, for instance, requires superb kitchen organization. Chinese restaurant point of sale software with a built-in KDS would aid the establishment in ensuring the intricate kitchen operates with the fewest possible errors.
Customer Display System (CDS)
It’s helpful if your system can be utilized for customer displays as well, much as the kitchen display system enhances visibility and efficiency in the kitchen. Customer-facing screens can be used to inform consumers about the status of their orders and the best time to pick them up, but they can also show dynamic menus, advertise, or promote special deals.
Receipt printer
Although though electronic receipts are becoming more and more common, printed receipts should still be available. You need a receipt printer to accomplish that.
Restaurant owners often have two options for printers:
- Impact printers: Wax, resin, or ink-soaked ribbon in cartridges are used in impact printers to produce receipts. Due to its ability to operate without malfunctioning in high-temperature situations, impact printers are typically utilized only in kitchens.
- Thermal receipt printer: Due to its affordability, thermal receipt printers are the most popular printer type in restaurants. Restaurants spend less on ink since they print with heat (like a laser).
Payment terminal
Customers who use credit cards without a near field communication (NFC) chip must use a conventional card reader, the kind that lets them swipe their cards, in order to make purchases.
You need a contactless credit card reader if customers wish to pay by tapping their credit card or smartphone. This enables them to make payments using a gadget with an NFC chip that is linked to their financial data (like a credit card or their digital wallet).
How much does a restaurant POS system cost?
One of the most commonly asked queries regarding point of sale systems for restaurants is this one. Although it’s a crucial consideration, you shouldn’t make your purchasing decision only based on price. The features and suitability of the POS you select are far more crucial because the system is such a crucial component of your organization.
However, depending on the source, there are a few various ways to pay for this systems.
The expenses could include:
- A monthly subscription to use the software – anywhere between $50 up to a few hundred dollars a month.
- Hardware up-front costs: Some businesses may charge $500 or more for the gear required to run your restaurant’s POS system. You might be able to make use of pre-existing gear or buy your own, such as iPads for servers, if you employ a cloud-based point-of-sale system that is device-independent.
- Transaction fees – The company that provides your POS system may levy a modest cost for each transaction that is completed.
You must compare the prices of each service to determine which offers the best value for your company. Keep in mind that sometimes the cheapest option is not the best. Choose a POS with the functionality you require for a long-term investment that will more than pay for itself.
POS systems for restaurants: mission control for your company
In the end, the restaurant point of sale system you select must be compatible with what you require to run your business currently and enable its expansion in the future.
You now have a clearer understanding of what a POS system is and how crucial it is to operating a profitable restaurant business. However keep in mind that while technology may make it possible for you to operate a restaurant, customers will ultimately value your food quality and level of customer service.
Every company is unique. Instead of choosing the POS with the most features, choose one that enables you to provide the best customer experience possible for your situation.
Consult other restaurant owners, read online evaluations, and don’t be shy about approaching POS sales people. You will discover a solution that is ideal for you after considering your present and future needs and conducting study.