OperationsTechnology

How the Modern POS System Helps Manage Restaurants and Maximize Profits

It’s hard to read an article about the restaurant industry without incurring terms like “labor shortage,” “supply chain disruption,” and “inflation.” These are, after all, the primary challenges facing restaurant operators in 2022. While there are no apparent complete solutions to these obstacles, there are some that can offer a significant reprieve. One of those solutions is a point-of-sale (POS) system that helps operators maximize profits in a challenging environment.

Today’s POS systems offer much more than their predecessors that were similar to cash registers with an additional feature of getting orders to the kitchen in record time. They started processing credit card transactions and creating restaurant sales reports as they advanced. In a few short years, they could create customized menus and split a check.

The Modern POS System

The latest POS systems serve as the central hub of your restaurant. They take and manage all transactions, process and record payments, and run reports regarding your employees, customers, and the many details involved in BOH and FOH management. According to Restaurant Technology News, a study conducted by Starfleet Research reported that 84% of full-service restaurants achieved significant or dramatic improvement in revenue performance after upgrading to next-generation POS and restaurant management systems.

The following features can help managers and owners weather the current storm of upheavals and help increase profits.

Mobile Enablement

Using tablets to place orders and accept payments helps speed up customer service and further integrates the BOH and FOH. Servers receive orders from guests, which then go directly to the kitchen display.

This system enables servers to remain on the floor instead of dashing to the kitchen and supports kitchen staff by getting orders in record time and keeping the BOH distraction-free.

The modern POS also manages orders for the various online and offline channels that have become an increasing part of restaurant operations. The POS collects all orders, whether from your website, other online ordering platforms, third-party delivery services, or dine-in services, managing them efficiently and directing them to the appropriate channels.

Inventory Control

Manual inventory control is filled with potential pitfalls, including irregular and miscalculated counts. In today’s current environment, where costs can increase daily, supply is anything but reliable, and menus require weekly updates, maintaining a current inventory count is imperative.

POS functions can track supplies based on meals and orders and initiate automatic reordering when items get low. It lets operators know which items are selling and how to adjust orders to prevent waste while ensuring guests can get what they come in to order. This type of data provides invaluable insights into customer preferences and costs.

Staff Management

With a good POS system, you’ll have easy access to the number of staff scheduled for each shift. This will help you maintain the appropriate level, ensuring guest satisfaction while keeping an eye on labor costs.

These systems also provide insights into each employee’s sales, and table turns. This information is critical and enables you to provide training for employees who may not yet fully understand the concept of sales and exceptional guest service related to the restaurant industry. These labor reports help identify who is providing the best customer experience.

Customer Management

These systems may also come with customer relationship management (CRM) features that capture guests’ contact information and order history. This invaluable information is integrated into loyalty programs, which guests increasingly value.

According to Paytronix and PYMNTS’ 2022, 57% of restaurants currently offer loyalty rewards programs, and 25% plan to invest in them in the coming years. At the same time, 41% of customers say that loyalty programs encourage them to buy from restaurants.

A Complete System

POS systems increasingly integrate with restaurant management apps, incorporating reservations, accounting, and other features into one platform.

For example, today’s systems integrate with payroll, making adding new staff and processing payments easy. In addition, due to current staff shortages, restaurants are increasingly adding benefits packages to the mix to entice new employees. Benefits such as retirement savings plans and health insurance are set up as a benefits package and added to the system. Restaurants are also turning to Target Workforce for help finding the highest quality trained staff.

Because these systems keep track of all your data, they can prepare detailed reports that help you keep an eye on those critical benchmarks. You’ll know your daily sales, popular menu items, and restaurant volume throughout the day and weeks. With cloud-based systems, you can also access this information anytime and from anywhere. Simply take a look at your POS dashboard, and you’ll know about your sales, voids, restaurant ticket times, and so much more.

Is your POS system supporting you during this unique time of supply chain disruptions and labor shortages? If not, it may be time for an upgrade.

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OperationsTechnology
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