29 Mar 5 Restaurant POS Features You Must Have
Point of Sale (POS) systems are pivotal tools for restaurants of all shapes and sizes, but with so many options out there, it’s hard to know which system to move forward with. Research will unearth more and more features, but which ones do you truly need? Read on to learn about what features you must have in your new POS system.
One of the biggest expenses for any restaurant owner is inventory management. The inventory management POS feature lessens the stress and cost of inventory management by tracking inventory live as items are utilized. As each sale is entered into the system by yourself or your employees, your POS system will automatically subtract it from your inventory. Additionally, you can set up notifications to alert you when inventory needs to be reordered, or even set up auto-orders for when inventory hits a certain level. Inventory management serves another purpose as well- by tracking the speed that inventory leaves your restaurant, you can tell what items are hot and should stay on the menu and what items should be removed for a different season. This will help you avoid overstocking and product spoilage.
Online Ordering Integration
More and more consumers are utilizing online ordering, which means that restaurants are adding online ordering to their consumer’s options. To manage your online orders, it’s important to add online ordering to your POS features, as opposed to utilizing 3rd party vendors. Using an integrated online ordering feature benefits your company in multiple ways. Firstly, the integrated features eliminates vendor fees on the restaurant end. Additionally, you will save time and effort on your employees’ and customers end by guaranteeing that orders will only have to be entered in once. The alternative to this is that customers will enter their order into their third party website, your restaurant will receive the order, and then an employee will have to re-enter the order into your POS. This can decrease order time by 4-5 minutes, which will also decrease the amount of orders you can handle every day.
Tableside and Kiosk Ordering
Tableside and kiosk ordering is becoming increasing popular in the restaurant industry, due to the decrease in wait time and increase in security that it provides to customers. By adding tableside and kiosk ordering to your POS system, you can allow servers to send orders more quickly, thereby decreasing customer wait time and increasing table turn over time. Additionally, with the implementation of EMV chip cards, consumers are less willing to allow their card to leave their site. Allowing customers to check out themselves not only decreases their risk of card theft, but also allows them to quickly review their bill, pay, and leave their table without delay, as opposed to waiting for their server to close out their check.
Reporting and Analytics
Reporting and analytics is one of the most important tasks as a restaurant owner, and integrating them with your POS system can take the time and stress out of the chore. Integrated reporting with your POS system will provide you with numeric insight into sales by department, item, hour, and more. It will also provide you with information on food costs and labor costs. Most importantly your reporting can be set up to run automatically. After determining what data you need to review and when, you can set up a report, which will show up in your inbox- daily, weekly, or hourly. Then, all that’s left for you is to review it. An additional benefit is having built in reporting will allow you to review real-time reports and analytics anytime and anywhere- as long as you have access to the internet.
Nothing is worse at a restaurant than being over and understaffed. Luckily, your POS system can help you understand how many employees you need on hand and what, helping to lower you second largest expense- labor. Through the reports and analytics available on your POS system, you will be able understand when the high and low traffic periods are during your open hours. Ultimately, this will allow you to schedule staff accordingly, which will help you save on the cost of labor.
Does your POS offer your business the support you need? Are you ready to simplify your business with the use of a new POS? SilverEdge can help.