The restaurant industry is constantly evolving, and so are the technology solutions that can help restaurants succeed. One of the most important technology investments that a restaurant can make is in a point of sale (POS) system. A good POS system can help restaurants streamline operations, improve customer service, and boost profits.
There are a number of different POS systems on the market, so it can be tough to know which one is right for your restaurant. The independently produced 2023 Smart Decision Guide to Restaurant Management and POS Systems discussed the top factors you need to consider when evaluating POS systems.
What is the ‘2023 Smart Decision Guide to Restaurant Management and POS Systems’?
Designed for restaurant owners and their IT administrations, the 2023 Smart Decision Guide dives into the newest industry trends, wins, and insights when evaluating POS systems and other restaurant management software.
As changing dining expectations continue to evolve, it’s important for restaurants to stay up-to-date with the latest technology advancements, especially with profits on the line.
The research is based on data collected from 322 restaurant IT decision makers and the content was independently produced, providing unbiased, fact-based information.
What is a POS system?
A POS system is a software application that helps restaurants manage their day-to-day operations. POS systems typically include features for inventory management, customer loyalty programs, sales tracking, and reporting.
How does a traditional POS system work?
A POS system typically works by connecting a point-of-sale terminal to a central database. The terminal is where orders are entered and payments are processed. The database stores the restaurant’s data, such as inventory levels, prices, menu items, and customer information.
When a customer orders a meal, the server enters the order into the terminal. The terminal then sends the order to the kitchen, where it is prepared. Once the meal is ready, the server rings up the order and the customer pays. The payment is processed through the terminal and the funds are immediately deposited into the restaurant’s bank account.
However, a modern-day POS system, as the Smart Decision Guide unpacks, can speed up these processes with cloud-based order placement and processing.
Why do you need a POS system?
There are many reasons why a restaurant needs a POS system. Here are just a few of the benefits of using a POS system:
- Streamlined operations: A POS system can help restaurants streamline their operations by automating many tasks typically done manually. This can free up staff time to focus on providing better customer service.
- Improved customer service: A good POS system can help restaurants improve customer service by providing a more efficient and accurate checkout process. This can lead to shorter wait times and happier customers.
- Boosted profits: It can help restaurants boost profits by providing better insights into their sales and inventory data. This information can be used to make better pricing decisions, optimize inventory levels, and identify areas where costs can be reduced.
What is a modern POS system?
When evaluating POS systems for restaurants, it’s important to make the decision with the future of dining in mind. And the Smart Decision Guide sums up the most-important topics for what a modern POS system should provide as the capability for:
- Mobile ordering
- Mobile payment
- Technology and data integration
- Workforce management
- Inventory management
- Performance reporting and data analysis
Notably, by implementing a modern POS with mobility functionality, it has been proven to increase the average check size by 10%-15%, and has enabled faster table turnovers, according to survey respondents.
What are the benefits of using a POS system?
There are many benefits to using a POS system in a restaurant. Here are just a few:
- Increased efficiency: A modern POS system can help restaurants improve their efficiency by freeing up staff time on traditionally manual tasks. This allows staff to provide better customer service.
- Improved accuracy: Additionally, it can help restaurants reduce the risks of human error. This is especially important for tasks such as entering orders and processing payments.
- Better customer service: A POS system can help restaurants improve their customer service by providing a more efficient and accurate checkout process. This can lead to shorter wait times and happier customers.
- Increased sales: Another benefit of a POS system is that it can provide better insights into a restaurant’s sales data, and indirectly help them increase sales. This information can be used to make better pricing decisions, optimize inventory levels, and identify areas where sales can be improved.
What factors should you consider when evaluating POS systems?
There are several factors you need to consider when evaluating POS systems. Here are some of the most important factors:
- Advanced features: The restaurant POS system you choose should have the features you need to run your restaurant efficiently and should automate routine tasks. Some features to consider include sales tracking, inventory management, customer loyalty programs, reporting, check-splitting, or offering preset tip percentage options.
- Ease of use: It should be easy to use for both staff and customers. A complex POS system can be frustrating for staff and can lead to errors.
- Price: POS systems can range in price from a few hundred dollars to several thousand dollars. You need to choose a POS system that fits your budget.
- Support: The POS system you choose should have good customer support. If you have any questions or problems with the system, you need to be able to get help quickly.
How to choose a POS system for your restaurant?
There are many different POS systems on the market, so it can be tough to know which one is right for your restaurant. Here are a few things to consider when choosing a POS system:
- Your needs: What features are important to you? Do you need a system that can handle a lot of transactions? Do you need a system that can integrate with your existing CRM system?
- Your budget: POS systems can range in price from a few hundred dollars to several thousand dollars. It’s important to choose a system that fits your budget.
- Your staff: How easy is the system to use? Will your staff be able to learn how to use it quickly?
- Customer support: What kind of customer support does the company offer? Can you get help if you have any questions or problems? How quickly and thorough will this help be?
- Modern needs and frequency of software updates: Is the POS system you’re evaluating allowing for mobile ordering, mobile payment, and other evolving dining expectations?
- Scalability and customization: Is there a cap on the level of customization your POS system can provide? And as your business grows, can it easily scale with you?
And if you’d like to take it one step further, the Smart Decision Guide includes a checklist for you when evaluating vendors. Get the FREE Guide now!
What the Data Revealed
Don’t get left behind. 46% of respondents said the restaurant revolution in 2020 accelerated their investment in new restaurant technologies, and there don’t appear to be signs of stopping.
When broken down, the data showed:
- A 77% improvement in performance for quick service and fast casual restaurants
- An 87% improvement in performance for full-service restaurants
Best POS systems for restaurants
There are a number of different POS systems on the market, so it can be tough to know which one is right for your restaurant. But we would be remiss not to mention Brink POS, the industry-leader in restaurant POS systems.
Brink POS is a cloud-based system that is easy to use and has a wide range of features and is an excellent choice for restaurants of all sizes. Check out its happy customer reviews on G2.
As one of the best POS systems for restaurants, it’s currently used at over 20,000 live locations, and is on the cutting edge of technological advanced features, such as mobile ordering, mobile fulfillment, mobile payments, security and compliance features, data insights and integrations, and more.
For over 40 years, Brink POS includes PAR’s customer-centric support, including a slight obsession with fail-safes in places should a piece of hardware or software experience downtime or a power outage.
Don’t Just Take Our Word for it
Want specifics? Check out our case study on how DiBella’s Subs went from no central POS restaurant system to seamlessly implementing Brink POS into over 40 locations.
“Being able to collect, view, analyze, and take action on all the data coming in from our 40-plus locations allows us to improve our purchasing, inventory, and labor scheduling practices immensely. We are seeing data we have never been able to see before, and because of it we can make better decisions that will consistently improve our bottom line.” –Peter Fox, President and CEO of DiBella’s Subs
Download the FREE Smart Decision Guide today to begin evaluating Brink POS as potentially your next modern POS system upgrade.