Point of sale (POS) systems are one of the most powerful business tools for restaurant operators. A business-savvy entrepreneur knows that investing in a high quality POS software system means that their restaurant will run more efficiently, and be more profitable.
Yes, you can make and save money with a POS system. Here are some of the top ways.
1. Makes Sure You Get Paid For All Items Sold
If a server writes out their tickets, they may not add items like a side dish, beverage, extra sauce, etc. While it may not seem like a big deal, it does affect your profits. If you loose $50 or even $100 a day in missed items, over time that totals $18,250 – $36,500 a year. This can be avoided with a well setup POS system. In many cases, the money made in those missed items can be more than what it costs to buy or lease a POS system.
2. Prevents Theft
Unfortunately, theft happens in the restaurant industry. Consider these stats.
- Internal employee theft is responsible for 75% of inventory shortages (National Restaurant Association)
- Quick Service Restaurants (QSR) lose up to 7% of sales to employee theft (National Restaurant Association)
You can avoid being a part of these statistics. Here are a few functions that a POS system can do to decrease theft:
- Increases employee accountability by tracking inventory.
- Removes opportunities for employees to pocket cash without ringing up items by enforcing the cash drawer is only opened when a transaction is completed.
- Catches employee theft by displaying transaction information overlaid directly on your security camera recording. This gives a visual view of things like ringing up a $2 beer, and handing the customer a $8 drink in a bar, other theft techniques.
- Enforces cash accountability by requiring cashiers to do a blind money drop. That means the employee adds up the money in the drawer without knowing the actual total sales from the register. When employees are pocketing money using various techniques, they will often make sure the money exactly matches the drawer count, and pocket the rest. In fact, many savvy managers consider employees that perfectly match EVERY single night to be the most likely thieves.
3. Maximizes Time
A profitable restaurant operator knows that turning tables quickly maximizes sales. That means communication is key when it comes to the kitchen and wait staff.
For example, if a server writes down their customer’s order, but the cook can’t read the handwriting, valuable time is wasted in additional communications that could be better used serving customers and turning tables. Additionally, incorrect orders are often made in the kitchen in these cases which wastes food, and can make customers angry. When using a point of sale system, cooks receive a neatly printed order which helps avoid these mistakes.
The checkout process is also much more efficient and accurate when using a point of sale system.
4. Controls Inventory
Tracking inventory gives you a better handle on what is selling and what is not. Many hours can be saved every week by automating many of the processes that may be managed manually. In this way, a POS system can make tracking inventory more efficient, and save labor costs on re-ordering. Plus, keeping track of what you have makes it a deterrent for employee stealing.
5. Creates Loyal Customers
Customers that come back often mean more consistent cash flow. Find a system like BEPOZ that has an effective system for customer loyalty. There are many examples of how loyalty systems can be used to increase revenue. Examples include buy 10 get one free or spend $200 and get a $10 gift card. Bepoz adds many other functions though. For instance, A coupon can be printed or attached to the customer account based on the amount or product category of a customer’s purchase, which is only good for a certain amount of days. In this way, customers are incentivized to come back more often than they would normally. In addition, BEPOZ has the capabilities to email and text coupons for their next visit. This could be used to draw good customers back in, or to regain customers that have stopped visiting.
6. Improves Accuracy
Miss-rings are extremely common for businesses that use cash registers. For example, if a cashier meant to ring a $40 item, but accidentally rang $30, the restaurant would lose $10 on that single transaction. When using a point of sale system, all pricing is pre-determined so that it is no longer possible to enter the incorrect amount for items.
In summary, here’s what happens in your restaurant when you use a POS system: productivity increases, communication and accuracy is better, theft decreases, customers become more loyal, and waste is eliminated. Over time that means big bucks for your restaurant’s bottom line.