Restaurant or Retail: How To Choose The Best POS System For Your Business

29 Jan Restaurant or Retail: How To Choose The Best POS System For Your Business

Whether you are just starting your business or hold a small business on it’s way to a greatnew expansion, the ka-ching sound of a cash register is the loveliest sound to any entrepreneur.

In today’s demanding business climate, a POS (“point-of-sale”) system is no longer just a luxury but more of a necessity. In it’s simplest form, a POS system is the combination between software and hardware used to process payment transactions. But it doesn’t end there. These systems are beating out regular over the counter cash registers due to their ability to compile much more than just sales. They keep track of vital information about your inventory and customers as well.

POS Systems For Restaurants:

POS systems simplify communication within your business. For restaurants in particular, the kitchen and wait staff have an easy flow of interaction as orders go through the computer and directly to the kitchen printer. It can track everything from food usage, to which menu items are the most popular, to helping facilitate payroll. POS systems act as timesheets, logging in the hours for all employees.

Not only can they save your restaurant a significant amount of time, but also orders are received quicker, increasing table turnover thereby minimizing the wait time. The system can be set to generate orders when stock is low, preventing shortage of items and over-purchasing.

Restaurant POS Benefits:

• Order tickets sent directly to the kitchen
• Ability to split checks
• Multiple open tabs at once

POS Systems For Retailers:

To put it simply, POS systems save your business money. For retail, the leading advantage is the ability to get an immediate and accurate assessment of your inventory. Stay up-to-date with your customers favorite purchasing items and have the items immediately subtracted from your inventory list once rung up.

According to the National Retail Federation, U.S. retailers lose $224 billion due to excess inventory and $45 billion from not having enough inventory in stock. Listing inventory and tracking it is one of the most tedious jobs for any business owner. POS systems can take this labor-intensive task off your hands.

Retail POS Benefits:

• Items scanned by barcode or SKU
• Customer reward program
• Custom discounts and coupons

References:

http://www.entrepreneur.com/article/77960

http://focuspos.com/why-you-need-a-pos-system-for-your-restaurant/

http://www.merchantmaverick.com/pos-101-how-to-choose-a-point-of-sale-system-for-your-business/