3 Tips to Consider When Buying a POS System

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The modern POS is a platform that can help accurately assess sales performance, productivity efficiency, inventory, customer satisfaction, and staffing. Here’s how to choose the right one.

The restaurant industry is currently facing recruitment and labor issues. With the added pressure of inflation, which is at its highest level in 40 years, traders need to find the right productivity tools to effectively fuel their business. Although many believe that the point of sale (POS) is just a basic tool for payment processing, the modern POS is a platform that can help accurately gauge sales performance, efficiency productivity, inventory, customer satisfaction and staffing. In fact, investing in a flexible, cloud-native POS is essential to meet the changing needs of consumers whose demands for catering services are at an all-time high. Modern POS systems are also easier and faster to install and have a lower total cost of ownership than legacy client-server solutions.

Avoid letting price drive your decision

As in any industry, price is usually a priority when comparative buying from an outlet. While price is still an important consideration when choosing an outlet, it shouldn’t be the driving factor in your decision for good reason. What is important to know is that the price differences between suppliers are not substantial; often they range from $5 to $75 per month. Ultimately, if one system costs, say, $40 more per month than another, but solves more business problems, has fewer system crashes, and has better support, that extra cost in will be worth it. A system with more downtime, with poor support, that doesn’t regularly release new features will cost you much more than that. Buy the best system. This will help you retain good customers, generate more revenue, and be more than profitable.

Therefore, it is essential that restaurateurs evaluate both the cost savings and the benefits of the desired platform from a holistic perspective. For example, advanced feature sets with robust integrations of a complete and flexible point of sale could serve you better now and in the years to come, as opposed to a closed solution. In the same way that your mobile phone comes with built-in security features and productivity apps that are constantly updated and improved to provide the best experience, the modern POS is equipped to be a transactional platform in constantly evolving that can quickly adapt to the changing needs of the restaurant landscape.

Consider the people behind the point of sale

When evaluating a POS platform, restaurateurs should look beyond the software and focus on the terms of the partnership. Will your POS partner support you through every stage of your business growth? The right partner will go through an in-depth discovery process with you (they will spend weeks or months setting you up perfectly), during which they will interview key business stakeholders. Marketing, store operators, and technologists are all key to customizing the platform to meet the demands of the operation.

Also, will your POS provider provide the level of customer support needed for troubleshooting? After all, no matter the time of day or day of the week, restaurateurs are busy serving the needs of the front and back of the house, leaving little time for the administration of the system.

With today’s point of sale serving as the heart of business operations, access to 24/7 support is what every restaurant needs. In this case, it’s important to have top-notch support and a dedicated account team that can help free up your time and attention so you can focus on other tasks. Downtime in the form of a breakdown can be detrimental if not addressed in the right amount of time and if it occurs frequently. The days your outlet is offline can add up to thousands of dollars in lost revenue over time. Add to that sneaky hidden costs like high processing fees and suddenly your POS expenses become very expensive.

Select a point of sale rooted in flexibility

Restaurant owners need to think about a scalable platform when determining the best point of sale for their business. Hospitality environments demand greater flexibility that can keep pace with ever-changing consumer demands and appetites. Merchants seek critical data from anywhere and anytime to make data-driven decisions for their businesses.

Rewind to pre-pandemic and nearly 90% of transactions were recorded at a point of sale. Fast forward to today and there has been a sea change in how and where customer transactions are conducted. Mobile apps, online desktop ordering, mobile order takers, drive-throughs, and self-service kiosks dominate today’s transaction landscape. The best architecture capable of supporting this trend is a cloud-native architecture. It just grows with you; whatever your needs are today, they could be obsolete in just a few years, depending on how your business evolves. Market forces can also affect your outlet’s performance.

Invest in your business with the right point of sale

For restaurateurs running a multi-location business, choosing an outlet that offers the right mix of features, functionality, and scalability will help run a growing business efficiently while delighting and securing ongoing customers. of road.

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