What is Best Pos System For Restaurant ?
The best POS system for restaurants depends on the specific needs and requirements of a business. There are many factors that go into deciding which POS system is the best fit for your business, including size, number of employees, location, payment types accepted, and more.
How to Choose The Best POS System For Restaurants- A Complete Buyer's Guide
What is a Restaurant POS System?
A restaurant point of sale or POS system is the place where merchants accept payments from their customers for the goods and services purchased. It may be located inside a physical store, where POS terminals may be used to process payments, or it may well be a virtual sales point like a computer or a tablet. POS systems today, however, perform many more tasks than merely debit/credit card processing.
They are platforms where many other business functions come together. These include inventory management, sales monitoring, vendor order management, reporting, analytics, employee management, customer relationship management, customer data management, customer support, customer service, stock transfers, quotation issuing, and accounting. POS systems help businesses operate smoothly and enable them to generate profits.
Restaurant POS systems essentially consist of two componentshardware and software.
POS hardware comprises physical assets and may include a simple cash register, an iPad, a touchscreen, a tablet, or a mobile device that calculates and processes transactions. POS hardware operated by restaurants may also include a debit/credit card reader that facilitates contactless payment through mobile wallets (like Google Pay or Apple Pay), chip cards, or magstripe cards. POS hardware may also come with a cash drawer, a receipt printer, a barcode scanner, and network devices like modems or wi-fi hubs.
Restaurant POS software, on the other hand, are computer programs that allow merchants to input orders, calculate the price of products and services, and receive payment for them. It stores information within a database and allows sellers to manage every aspect of their business.
POS systems today have expanded beyond recognition and are customized to meet the requirements of every business type and size. For instance, the needs of a quick service restaurant and those of a full service restaurant may be different. The best POS systems, therefore, have features that cater to the exact needs of the business using them.
Hubworks' feature-rich Plum POS is perhaps the best POS system for restaurants. Other top platforms for the foodservice industry are Square POS, Clover POS, Lavu POS, Upserve POS, Lightspeed restaurant POS, Revel Systems, and TouchBistro POS.
6 Essential Features of a POS System- 1. Cloud-based
Nowadays, more and more bars and restaurants are moving to cloud-based POS platforms. Traditional POS systems have declined in popularity, though establishments like gas stations and some retail stores continue to use them.
Web-based POS systems powered by cloud technology define the evolution of POS systems, with the POS software essentially doing the heavy-lifting for cloud-based platforms. The smarter the software, the better the POS system.
Old school POS systems are maintained on site, involve voluminous machines, and operate on a closed network that can be accessed only by a few connected devices. Cloud-based systems, however, can dispense with elaborate hardware architecture and make do with minimal hardware.
The cloud server syncs with the main device in real-time. The user, therefore, is able to access information and make product and pricing changes on the go from anywhere, using any device.
A web-based system securely stores data in the cloud. This is easily retrievable, even in the event of file loss, damage, accidental deletion, or if the system crashes. These systems can process any amount of data without the data being distorted or lost.
A kitchen display system (KDS) is one of the best examples of the way cloud-based systems make restaurant operations quick, simple, and hassle-free.
A KDS works remotely. Orders are visible to the kitchen staff as soon as they are fed into the
Restaurant Pos system. This allows the cooks to quickly start preparing dishes. A KDS reduces the chances of manual error and saves employees a considerable amount of time and energy, allowing them to focus on customer service and process more orders.
Furthermore, simple POS terminals with QR codes or self-service menu interfaces let diners view menu items and place orders digitally. Apart from tableside ordering, these systems also support tableside payments.
Cloud-based POS solutions reduce a restaurant's upfront costs. They are compact and portable and can be integrated with smartphones and tablets. This feature of cloud POS systems has led to the emergence of mobile POS and EPOS systems.
You're looking for a POS system for your restaurant, but you have no idea what to look for.
This article lays out the 6 essential features of a good POS system, so you can easily find the right one for your restaurant.
2. End-to-end Restaurant Management
A good Restaurant Pos system should support end-to-end management of operations and do away with the need to have multiple tools and software performing individual functions. There are several marketing tools and loyalty programs available in the market, but unless they receive information from the POS system, they cannot act.
Modern POS systems used by restaurants, on the other hand, are able to integrate various tasks like payment processing, inventory management, order-taking and billing, table reservation, online ordering, customer management, marketing, loyalty programs, base kitchen management, reporting, and analytics. A smart POS platform allows all these activities to be managed with a few clicks in real time, from anywhere and on any device. This greatly simplifies restaurant management.
A POS system also reduces a restaurant's operating costs. Intuit Market Research points out that retail stores with revenues of $300,000 per year can reduce operating costs by 10% by using a POS system.
Restaurants, especially smaller ones, however, have to be careful not to overpay for POS features, nor pay for features they hardly use. It's possible, though, for a small business to keep its POS system lean and still robust enough to address its vital needs for as little as $50-250 a month.
3. Real Time Analytics
A POS system integrated with a smartphone or any other mobile device gives users the option to view reports on sales, employee performance, inventory, and so on, in real time from anywhere. These reports can then be analyzed and acted upon by business owners on the go.
This feature makes running the business extremely convenient for restaurateurs. They may be on vacation, spending quality time with kids, or camping, but will still be able to access the cloud to monitor what's going on in their restaurant several miles away.
Inventory reports may tell the business owner that the ingredients for a popular dish are running low. The entrepreneur can then immediately reorder the ingredient with a click on their smartphone. All that's required is an internet connection.
POS reports also reveal fast-selling and slow-moving menu items. They also alert a business owner about how much is being spent on employees. All this data can be viewed round the clock. An analysis of these mobile POS reports allows the business owner to take more prudent and data-driven decisions. These include strategy recalibration to cut costs, streamline operations and maximize profits. This leads to more efficient restaurant management.
4. Third Party Integrations
Top POS systems allow seamless integration with add-ons and third-party apps, like those related to accounting, loyalty programs, customer support, eCommerce, and so on. These would significantly improve the experience of both the merchants and the customers, but are bound to drive the cost of the POS platform up.
A POS platform that comes with a data integration features will allow old data to be fed into the system. This in turn ensures that important information is not lost, and data from diverse sources can be accumulated and used in one place.
In this day and age when newer, cashless modes of payment are gaining ground, the POS system should let merchants accept contactless payments in the form of mobile wallets like Google Pay and Apple Pay, debit/credit cards, gift cards, and so on.
Restaurants today must also acquire POS systems that can integrate with online ordering platforms like Chowly and UberEats, and delivery apps like GrubHub, DoorDash, and Postmates.
POS systems should also allow a restaurant to accept orders on the phone, automatically transferring the call to the next available line if the first line is busy. This ensures that the restaurant does not forgo orders, even on a busy day.
A smartphone integrated with an add-on card reading device is fleet-footed, allowing the restaurant to capture business opportunities anywhere.
You know that you need to find a system that will help you save time, but you don't know where to start.
This article covers 6 essential features of a POS system for restaurants, with a breakdown of what each feature does and how it can help your business.
5. Online Ordering
Orders registered on third-party apps reflect in the restaurant's POS system. A POS system, therefore, does away with the need to manually enter each order received from different online ordering channels. As soon as orders appear in the Restaurant POS system, they are displayed on the KDS, and the chefs can quickly get down to business. Hence, the wait time for takeout and delivery is shorter.
This sets off a positive chain reaction, cutting employee time and effort, speeding up operations, and at the end of it, raising customer satisfaction. This ultimately leads to lower costs and higher profits. It would also ensure that restaurant employees do not have to handle constant customer calls.
A restaurant with a robust POS Solution that's well-equipped to handle online orders ensures that customers do not get frustrated with having to wait in long queues. In view of the 'new normal' necessitated by the Covid-19 pandemicwith social distancing being one of the main points of emphasisthe ability to handle online ordering will contribute significantly to customer satisfaction.
Online ordering also lets customers place orders hours or even days in advance. This gives customers the freedom to order when they want, and makes sure the restaurant doesn't miss opportunities for business.
6. Customer Support
It's a known fact that 80% of the revenue of a business is driven by 20% of its customers. A restaurant is able to identify its most loyal customers with the help of POS-generated customer information. The customers can then be incentivized with the help of loyalty programs. This could also lead to repeat orders from one-off customers.
Customers can be engaged via targeted promotions. These are done through email marketing, phone messages, and so on. Personalized communication with customers persuade them to promote a restaurant on social media or word-of-mouth channels, allowing the restaurant to boost its revenues.
Apart from fast and efficient service, restaurants can also build customer loyalty and satisfaction by offering the option of online ordering, by notifying customers when an out-of-stock item is available, and through cross-selling of related products.
POS integration with mobile apps allows restaurants to send custom offers, menu updates, and announcements about the launch of new productsright to the customers' mobile phones, further improving the customer experience. Mobile apps can also receive orders, prepayments, and reservations.
Having customer data at hand allows restaurants to provide them with personalized services. For instance, if a customer usually orders French Fries with their regular meal, the next time they place an order on the restaurant's website, a window may pop up with the option to add french fries to the order.
A customer-centric approach supported by a strong POS system will help restaurants retain customer, attract new ones, and increase revenue.
If you're looking for a POS system for your restaurant, you'll know you've hit home if the product you've found possesses 6 essential features.
But what are these 6 features? What should you be looking for in a POS system? This article lays them all out.
Workforce management
5 tips for Creating a Weekly Employee Schedule Template in Excel
Restaurant management
How a Restaurant Chart of Accounts Can Help You Maintain a Healthy Cash Flow
Restaurant management
Tips to Help You Decide Which Restaurant Accounting Services to Use
Restaurant management
5 Supply Order Mistakes Every Rookie Restaurateur Makes
Workforce management
How to Choose the Best Free Employee Time Tracking Software for Your Business
Restaurant management
8 Inventory Management KPIs Every Company Needs To Track
Restaurant management
How to Streamline Your Stocks With These Inventory Management Examples
Business intelligence
Use These Sales Report Examples to Make Your Own
Business intelligence
How to Use a Sales Forecast Excel Template to Predict Future Sales
Marketing strategies
Defining loyalty programs- what they are and how they work
Business intelligence
Various Sales Forecasting Models and Which One is Best for Your Business
Business intelligence
Tips for Staying Organized While Preparing Your Sales Tax Report
Restaurant management
Useful Tips for Creating an Inventory Management Excel Template
Restaurant management
How to Use an Inventory Management Template to Keep Track of Your Business Inventory
Business intelligence
5 Key Points to Consider When Implementing Business Intelligence Automation
Workforce management
Why You Should Consider a Rotating Shift Schedule for Your Business
Workforce management
The Benefits of an Employee Time Off Tracker
Workforce management
How an Employee Communication Platform can Improve Your Workplace
Restaurant management
The Benefits of Utilizing Accounting Software in Restaurants
Workforce management
How to Create an Employee Schedule Calendar that Works for Your Business
Restaurant management
How to Balance Multi-Channel Inventory Management
Marketing strategies
Defining a Successful Loyalty Program- What Works and What Doesn't
Restaurant management
5 Tips for Effective Modern Restaurant Management
Marketing strategies
3 Popular Loyalty Program Companies and How They Keep Customers Coming Back
Workforce management
5 Reasons to Switch to an Automated Employee Time Clock Calculator
Business intelligence
Business Intelligence Examples- 3 Case Studies of BI's Impact on Restaurants
Restaurant management
A Restaurant Closing Checklist- What it is and Why it's Important
Restaurant management
Recipe for Success- 10 Inventory Management Strategies That Actually Work
Business intelligence
7 Best Mobile Business Intelligence Reporting Tools for Small Restaurants
Workforce management
Why You Need to Swap Excel Employee Schedule Templates for Scheduling Software
Marketing strategies
Loyalty Program Benefits- Why You Need One and How to Get it Off the Ground
Restaurant management
5 Proven Inventory Management Best Practices for Small Restaurant Businesses
Workforce management
5 Best Free Employee Time Clock Apps For A Startup Cafe
Workforce management
Employee Work Schedule Template- Your Tool to Building a Productive Workspace
Business intelligence
3 Easy Steps to Creating Your Weekly Sales Report Template on Google Sheets
Restaurant management
How to Ace Hotel Restaurant Management With the Right POS System
Business intelligence
5 Ways That Business Intelligence Technologies Help You Drive Strategy
Restaurant management
Restaurant Manager POS- Features, Pricing, Customer Reviews
Restaurant management
5 Best Point of Sale System Software For Fine Dining Restaurants
Restaurant management
The Complete Guide to Restaurant POS System Cost, Features & FAQs
Restaurant management
The Ultimate Guide to Food Truck POS- An Overview of the Software You Need
Business intelligence
Business Intelligence Platforms- What They Are and How To Use Them
Workforce management
5 Best Workforce Management Software for Restaurant Startups
Workforce management
Weekly Employee Schedule Template- A Guide for Restaurant Owners and Managers
Workforce management
5 Free Employee Scheduling Software for a Startup Bakery
Restaurant management
5 Best POS Software to Take Your Restaurant Enterprise to the Next Level
Restaurant management
The Ultimate Restaurant Cleaning Checklist (Covers All Ground)
Business intelligence
How to Assemble a Business Intelligence Strategy That Actually Works
Workforce management
7 of the Best Employee Time Tracking Software Solutions on the Market
Business intelligence
Sales Forecast Definition, Procedure & Results for New Restaurants
Workforce management
Free Employee Schedule Templates- How They Work and Where to Get Them
Restaurant management
4 Ways Your Cafe's POS Data Can Help You Tamp Down Costs and Scale up Profits
Business intelligence
4 Key Business Intelligence Applications That Can Radically Improve Operations
Business intelligence
How to Create a Sales Pipeline Report- A Step-by-Step Guide
Business intelligence
Daily Sales Report Template- A Beginners Guide to Creating Your Own Sales Report
Business intelligence
5 Ways a Restaurant Can Profit From Business Intelligence and Analytics
Restaurant management
7 Best POS for Restaurant Chains- Features, Pricing, Reviews
Workforce management
5 Ways Workforce Management Tools Can Help You Stay on Top of Your Game
Workforce management
5 Things You Never Knew a Restaurant Scheduling App Could Do
Workforce management
5 Best Employee Scheduling Software for Small Restaurant Businesses
Workforce management
7 Free Employee Scheduling Apps For A Productive, Positive Work Culture
Business intelligence
6 Ways To Get Ahead Of The Competition With Business Intelligence Services
Restaurant management
4 Targets All Good Restaurant Point of Sale Systems Must Meet
Restaurant management
Inventory Management Solutions- A Single-Step Process to Boost Your Business
Restaurant management
Can Your POS App do This? Key Features it Must Have and What to do if it Doesn't
Business intelligence
Top 5 Benefits of Business Intelligence That Can Turn Your Business Around
Restaurant management
How to Get the Best Inventory Management Software Free for Your Business!
Restaurant management
5 Reasons to Swap Your Supply Order Forms for Automated Inventory Management
Business intelligence
How to Shop for the Best Business Intelligence Software for Restaurants
Restaurant management
Fab 5- The Only List of Restaurant POS Systems You Need to Check Out
Business intelligence
5 Reasons Your QSR Needs Business Intelligence and Data Analytics Software
Workforce management
Effective Online Employee Time Clock System- How to Fit it Into Your Workflow
Restaurant management
7 Top Restaurant POS Systems of 2022- Features, Pricing, Reviews
Marketing strategies
5 Fundamental Features All the Best Loyalty Programs Possess
Restaurant management
How your business can implement various inventory management techniques
Business intelligence
How to Get Business Intelligence Solutions for your Company
Restaurant management
5 Reasons Why You Need to Upgrade From Your Inventory Management Excel Spreadsheet
Restaurant management
7 Points to Consider Before Investing in a Restaurant Point of Sale System
Workforce management
How to Create an Employee Schedule Template for a Small Business
Restaurant management
Easy Solutions to 4 Common Supply Chain Process Problems
Restaurant management
7 Stellar POS System Software For Start-ups and Small Businesses
Restaurant management
How to Pick the Best POS for Food Truck- Get Your Business Moving
Restaurant management
6 Ways a Kiosk Point of Sale System Can Double Restaurant Sales
Workforce management
Employee Time Management- 5 Software Solutions To Improve Productivity
Restaurant management
How to Choose The Best POS System For Restaurants- A Complete Buyer's Guide
Restaurant management
5 Top Tablet Point of Sale Systems for Small Businesses
Workforce management
5 Trial-Free Employee Time Clock Apps for a Restaurant Startup
Restaurant management
Five Reasons to Switch From Your Current Point of Sale Software
Marketing strategies
5 Customer Loyalty Program Ideas That Will Have the Crowds Coming Back
Restaurant management
Don't Break the Bank- How to Find a Budget-friendly Food Truck POS System
Marketing strategies
5 Loyalty Program Examples for Restaurants Just Starting Out
Workforce management
How To Create an Employee Weekly Schedule That Keeps Everyone Happy
Restaurant management
How to Use a Supply Order Form Template for Your Restaurant
Marketing strategies
The Big 5- Types of Loyalty Programs and How to Find What's Best for You
Workforce management
Average Labor Cost for Restaurants- 5 Ways to Keep it Under Control
Operations
7 Astounding Benefits of Time Clock Apps
Management
3 Simple Ways to Measure Forecast Accuracy
Frequently Asked Questions
How much does a POS system cost for a restaurant?
Running a restaurant is a struggle. It's hard to get people in the door, and once they come in, it's hard to keep them there. Whether you own a franchise or your restaurant is independently owned, you need a robust POS system that can keep track of your inventory and process orders quickly. A fantastic POS system will save you money since you won't need to hire additional employees or pay for things like extra labor hours or expensive computers. But what does it cost? The cost of a POS system depends on the size of your restaurant, its location, and how many employees are working inside of it. Typically speaking, an average-size restaurant will spend about $2,000 for a POS system. If your restaurant is large enough with high turnover, an entry-level POS system would be suitable for your needs. The pricing for these systems starts at around $1,500 to $2,500.Running a restaurant is a struggle. It's hard to get people in the door, and once they come in, it's hard to keep them there. Whether you own a franchise or your restaurant is independently owned, you need a robust POS system that can keep track of your inventory and process orders quickly. A fantastic POS system will save you money since you won't need to hire additional employees or pay for things like extra labor hours or expensive computers. But what does it cost? The cost of a POS system depends on the size of your restaurant, its location, and how many employees are working inside of it. Typically speaking, an average-size restaurant will spend about $2,000 for a POS system. If your restaurant is large enough with high turnover, an entry-level POS system would be suitable for your needs. The pricing for these systems starts at around $1,500 to $2,500.
What is POS systems for restaurants?
POS systems for restaurants are a computerized point of sale system that helps businesses run smoothly. They are typically centralized and provide the following services- inventory management, customer service, sales analytics, marketing, and accounting. As this technology has become more and more common in the restaurant industry, they have proven to be an invaluable tool. POS systems for restaurants are a computerized point of sale system that helps businesses run smoothly. They are typically centralized and provide the following services- inventory management, customer service, sales analytics, marketing, and accounting. As this technology has become more and more common in the restaurant industry, they have proven to be an invaluable tool.
How much does a POS system cost for a restaurant?
Running a restaurant is a struggle. It's hard to get people in the door, and once they come in, it's hard to keep them there. Whether you own a franchise or your restaurant is independently owned, you need a robust POS system that can keep track of your inventory and process orders quickly. A fantastic POS system will save you money since you won't need to hire additional employees or pay for things like extra labor hours or expensive computers. But what does it cost? The cost of a POS system depends on the size of your restaurant, its location, and how many employees are working inside of it. Typically speaking, an average-size restaurant will spend about $2,000 for a POS system. If your restaurant is large enough with high turnover, an entry-level POS system would be suitable for your needs. The pricing for these systems starts at around $1,500 to $2,500.Running a restaurant is a struggle. It's hard to get people in the door, and once they come in, it's hard to keep them there. Whether you own a franchise or your restaurant is independently owned, you need a robust POS system that can keep track of your inventory and process orders quickly. A fantastic POS system will save you money since you won't need to hire additional employees or pay for things like extra labor hours or expensive computers. But what does it cost? The cost of a POS system depends on the size of your restaurant, its location, and how many employees are working inside of it. Typically speaking, an average-size restaurant will spend about $2,000 for a POS system. If your restaurant is large enough with high turnover, an entry-level POS system would be suitable for your needs. The pricing for these systems starts at around $1,500 to $2,500.