What Can a POS System do for My Business?
Some of you might think “Will a POS system really help increase my profits?”. You may not mind relying on your cash register and sales ledger for your transactions because it’s affordable and reliable. But is it really the most efficient way to run your business?
While it’s true that POS requires an initial investment, it’s important to understand the vast benefits a POS can bring to your business. Regardless of what industry you are in, the goal is to have more sales and generate more revenue. POS can help set the groundwork for achieving those goals – and many others. Here are some of what POS systems can do for your particular business:
Focus on your business - POS systems allow companies to concentrate on growing the business. Since POS systems can handle your transactions, scheduling and inventory, you will have more time working on new techniques, promotions, and other initiatives to improve your business.
Improved Functionality - POS systems are more than just sophisticated cash registers. They can also hold reservations, take special orders, touch base with other locations, and provide guest beeper systems to maintain the flow of your business.
Work Efficiently With Your Operations - There’s little room for error with a POS system. Everything is entered in clear, intricate detail so the lines of communication are always clearly outlined. It can speed up the ordering process with improved accuracy which in return improves your productivity and customer service level.
Proper Inventory Management - A particularly important in food service industries where you need enough supply to serve all of your customers but don’t want them to go to waste if they’re not sold. With a POS, you’ll always be informed when certain stocks are running low and which items are best sellers so you can plan ahead.
Lessen Shrinkage - Having a POS system can help you keep your employees honest. With paper receipts and an old-fashioned cash register, it’ll be hard to handle temptations like pocketing a few dollars or give free meals and special discounts to family and friends. POS curbs these activities tremendously, providing an accurate account of where your merchandise (and money) are going.
Decreases The Chance For Errors - If you’re in the food service industry, you no longer need to decipher cramped hand-written orders from busy wait staff! POS allows you to key in orders, including specifics, to decrease the chances that it will come out wrong. By this, you can keep your customers satisfied by not having to serve them the wrong orders, re-cook orders and waste food. You will never have to re-cook orders and waste food, plus it’ll save you a great amount of money.
Track Costs - If you don’t have prices clearly entered in a database, you might as well let customers shop with their own pricing gun. Using price stickers can be helpful but it cannot prevent thieves from swapping the labels. With a POS, every item you sell is bar coded and tracked so you always know each item will sell for the right price. And if you need to make changes, you can do all the changes at once using your POS termial!
Increasing Customers That Patronize Your Restaurant - Get more customers coming in by quickly and accurately serving customers waiting in line. When customers don’t have to wait for wait staff to calculate checks, collect payment, and clear tables, you can serve more customers and increase profit.
Getting Accurate Reports - POS allows you to do more than you could with multiple ledgers and spreadsheets. You can easily make record of sales, track, sort, organize data and make revisions whenever necessary. Reporting is a valuable component to a POS system. It allows you to track what is sold, see what is needed to be restocked and reordered, and help you make future plans. You can use it as a reminder tool when you’re running low on supplies.
Track Customer Data - You can also build customer loyalty by using POS systems. Every customer you will ever greet through your doors will be entered into the system when they order something. Keep tabs of the food they order and how often they visit your store. Then use this data to compile information for targeted sales and other future plans. With these information, you can identify and limit poor selling merchandise in stock and assign funds for the best sellers.
There are several critical things in restauratn POS systems purchase in any industry. Just be sure to meet with at least 3-4 qualified vendors before making a decision. In any case, request for a free POS system quote, where vendors will be able to meet your needs once you supply them information of your business’ POS needs. Provide them with the details of the information you wish to track and the features that can help you ease your job. Keep an open mind when the POS software appears to MAKE you do things differently. Follow this simple procedure in order to find the right software that can improve your business’ efficiency. With proper planning you will have a POS solution that makes your business more efficient, more profitable, more enjoyable, and keep your customers happy!
Need more information or an online resource?
Go to POS-For-Restaurants.com
The author of this article is the Vice-President of Customer Relations at POS-For-Restaurants with over 20 years of experience serving restaurants of all types throughout the U.S.