ParTech is a company that is focused on providing ‘Point of Sale,’ or POS solutions for businesses in the food service industry. In recent years, due to the rapid advancement of technology, POS technology has become an increasingly complex part of choosing a specific provider for your business. Luckily, one of these said providers, ParTech, has created a guidebook that can walk you through the specific process. For more information, download ParTech’s restaurant POS guide.
What is a Restaurant Point of Sale System?
In the most basic of terms, a POS system is the equipment and software that allows businesses to process sales that are not cash. This can be credit and debit card sales, or any form of virtual or phone-based payment method. The features on point of sale systems can vary widely, as some a quite basic and stripper down, whereas others offer tons of features such as loyalty programs and online ordering. Assess what would be best for you and your restaurant, as this will obviously differ.
Why Do I Need a POS System?
Restaurants are already one of the most difficult types of businesses to turn a profit with. Thus, have payment methods that are not reliable is a surefire way to make your life harder. Whereas, a streamlined POS system can provide you will a more profitable way to process payment. Research also shows that customers who pay with card generally spend more money, thus, this is a foolproof method to generating more revenue. POS systems can also work to help you keep better track of revenue and inventory overall.
Restaurant POS for Franchises
While the benefits of POS systems for smaller, independently owned and operated franchises is undoubted – franchises may also benefit. Obviously, the features of a POS system for franchise owners will likely be a bit different, but they still stand to benefit. For instance, systems can sync across locations, making it easier to track trends and patterns franchise wide. In addition, updates are carried out via cloud storage and online, so they happen all at once. This can help cohesion.
How To Implement a Restaurant POS System
To implement a system, you have to have chosen a system. It is recommended that employees and not just owners are included in this discussion. Employees are going to actually be using the software more than owners in most cases, plus it will help team cohesion. Employees also know what would be helpful or not helpful in most cases, thus it is important not to undervalue their input. Once a decision is made about the software specifics, it needs to be installed. This can be a difficult process, but the system of choice should provide support. Don’t forget to train employees on the new POS system!
What Type of Restaurant Do You Manage?
This will effect the type of POS system you choose, as well as the features that you choose to emphasize on your chosen system. Fast food restaurants needs a system that works quickly and doesn’t have lag, as they need a fast turnaround time for orders. Whereas, fast casual restaurants may choose a more data and analytic focused POS system as their profit margins are tighter in most cases – thus it should be monitored closely.