9 Ways You Should be Using Your Restaurant POS System to Prevent Theft

WAND-POSA restaurant POS system is crucial to a restaurant’s financial success; it processes hundreds (sometimes thousands) of transactions daily.  Unfortunately, among all those transactions it becomes too easy for employees to become thieves and steal from restaurant operators.

Here are nine ways you should be using your restaurant POS system to prevent theft:READ MORE >>

5 Ways You Should be Future Proofing Your Restaurant POS System Today

contactless-paymentsThe restaurant POS system of today doesn’t look anything like the restaurant POS system of tomorrow. Advancements in technology and new customer behavior means POS systems are rapidly changing and we all have to keep up.

Here are some things restaurants should be doing today to future proof their POS systems so they will be able to be used in the future as technology changes.

1. Accept contactless payments. With the launch of Apple Pay, Google Wallet, Softcard, PayPal, Samsung Pay and CurrentTC (MCX) customers are expecting and embracing the use of mobile payments. Getting near field communication (NFC) on your POS system today will ensure you’re prepared as the use of this technology continues to boom, particularly with younger Millennial and Gen Z audiences who are frequenters of limited service establishments.

2. Build in loyalty applications. Speaking of younger generations, loyalty programs are huge with QSR and Fast Casual establishments, with repeat Millennial and Gen Z customers using these on every visit. The use of loyalty programs at limited service restaurants is growing as people now expect to be rewarded for being a loyal customer. Your restaurant POS should be built to support a concept’s loyalty application so cashiers can quickly recognize and reward customers for their frequent visits.

3. Integrating with your digital menus. Your restaurant POS system should synch with both your indoor and outdoor Digital Menu Boards so you can ensure all prices and items are displayed properly in all locations. Having a highly profitable popular food item displayed prominently on your menu is great, until the cashier can’t find it in the POS system. The use of digital menus continues to explode across the country so making sure your POS integrates with yours is key.

4. Using EMV readers. Many restaurants are taking a “wait and see” approach when it comes to installing EMV readers in their stores. If you’re looking to have a restaurant POS that is future proofed we can’t stress enough the importance of having EMV terminals. Credit card companies are issuing cards en masse and running huge customer education campaigns so more customers use these when they shop. Before long everyone will be looking to dine where EMV cards are accepted, so better to be ahead of the curve on this one.

5. Mobile Apps.  Mobile apps create operational efficiency in the restaurant, performing tasks like line busting, employee scheduling, and tracking Key Performance Indicators. And of course, they also allow customers to order from you while they are on the go!

While it may seem there is a lot to think about and many changes happening at once with restaurant POS systems, this may be the perfect time to examine how you are handling this mission critical aspect of your business. In fact, an abundance of options and competition in the payment process marketplace means that somme payment processes are offering incentives as they aggressively vie for new customers. The bottom line is if you’ve been avoiding the “is it time for a new POS system?” question then it probably means it is time.

Four Hidden Costs of an Aging Restaurant POS System

restaurant POS system is at the heart of a QSR or Fast Casual restaurant and can make a huge difference in how profitable a company is.

POSBannerUnfortunately, a restaurant POS system, like any technology, have a shelf life. Many organizations debate for months (sometimes years) whether the time is right to upgrade to a new system. While we can certainly understand the reason for wanting to delay a switch we’ve uncovered several hidden costs of sticking with an aging restaurant POS system.

Here are four of them:

1. Reduced productivity. The older something is, the more likely it is to break. This is true of computers, cars, electronics, etc. What happens when stuff breaks? Someone at the restaurant needs to make a service call which takes them away from helping customers and into the back office to make the call. At the end of the day, staff time and productivity is wasted sitting on the phone trying to fix a broken technology.

2. Increased repair costs. Along with making help desk calls, when something breaks there is usually something that needs to be fixed, resulting in a service fee, hardware fee or some other fee. And the older the technology, the harder it is to find and replace since most manufacturers will have stopped producing it at some point, likely several years ago. Anyone who has owned an old car knows eventually they hit a break-even point where the cost of repairing it is more than the car is worth. The same thing is true of antiquated POS systems.

3. Lost sales. Any time a POS breaks sales are lost. Especially if it’s during a peak time. The last thing a burger establishment wants is a POS to break down in the middle of lunch and watch customers walk across the street to a taco restaurant with a working POS. The reality is busy customers won’t wait for a POS to be repaired, something that makes QSR and Fast Casual dining different than other types of dining experiences.

4. Lost sales…again. Even if a POS system doesn’t break, aging technology is slower than new technology. It’s a simple fact, the computer you have from five years ago is not as fast as the computer you have now. The same is true of your POS. And again, given customers’ desire for speed to get their food fast, a slow ordering system is going to make them frustrated and deter them from visiting again.

The bottom line is if you’re debating whether or not you should upgrade your restaurant POS system you must look at these hidden costs and analyze how much you’re losing staying with an outdated system versus how much you could gain from upgrading to an updated system.

Don’t Let Your Biggest Loser Be Your Restaurant POS System

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.

POS-SystemHere 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.