The point of sale (POS) system is at the heart of every restaurant and is the one piece of technology most restaurants literally can’t live without. These days, not just any POS system will do. Restaurants in the Fast Casual/QSR arena need POS systems built for speed of service, security, and enhanced guest experiences to remain competitive.
Here are three great examples of how invaluable an enhanced POS system is to your restaurant’s success. What each points out is technology road-maps are pushing out ever more innovative solutions, and make keeping up with the times the first step to having your POS system as your restaurant’s biggest winner.
1. Increased Operational Benefits
Perhaps the largest benefit to a new POS system is how the collection and interpretation of data can lead to whole new levels of success. Just think, these systems can reduce food and labor costs while increasing sales with integrated mobile ordering. For instance, reporting features allow you to discover the best and worst performing items, identify which employees are the most and least productive, and determine peak business hours.The identification of waste alone is a sufficient reason to upgrade the POS. While a returned item here or there might not seem like it could add up, the accumulated cost over a single year becomes monstrous. One happy restaurant saved more than $100,000 just by identifying and eliminating such waste.
2. Improved Guest Experience
If the question has ever been asked “Why upgrade the POS?” the answer is simple. New technology. True, new technologies are empowering, helping to streamline a business. However, they also make a great impact on the overall guest experience. Using a POS system that uses conversational ordering, for example, makes it much easier for customers to place their orders and for employees to easily make upgrades and sell add-ons to increase average order size. The easier and faster it is for customers to get their food, the happier they’ll be and the more likely they’ll be to come back.
3. Updated Security Systems
A POS update is vital to keep up with ever-changing PCI compliance standards. Businesses using systems that are not PCI compliant are at risk for big data breaches which have hit big name retailers and have long-term effects on customer loyalty and the bottom line. The average data-breach of a non-PCI compliant restaurant is $80,000, and most don’t survive the financial damage. Newer systems provide end-to-end encryption and do not store any credit card data, important features that meet PCI compliance. These new features are enabled by innovative cloud-based technology. Of course, not only does the cloud keep your customer safe, it also enables businesses to accumulate and process their data.
Interested in learning more about making sure your restaurant POS system is a winner? Check out our blog post on The Five Biggest Restaurant POS Mistakes to Avoid.