Point-of-sale or POS software has undergone a dramatic evolution over recent years. Consumers demand to pay how they want and from where. Is your current POS solution falling behind the times?
Already, large cities report that 50% of people use mobile POS to make payments. Businesses with the latest POS software enjoy more payment channels and greater security. Smart tools help determine precise business benefits as well.
Companies in Washington, Oregon, and Alaska continue to use “dumb” or even cash-based POS technology. These have shown several vulnerabilities over the years. They inhibit tracking ROI and are more prone to manipulation and theft.
Updating POS systems for small businesses has never been more accessible. Web-based POS removes infrastructure requirements, reducing the costs and risk for your business. It streamlines payment and improves customer experiences as well.
The Evolution of POS Software
It’s easy to settle into a POS system to which you’ve adjusted. But as POS evolves, your customers will demand more. Let’s review some iterations of POS software so you can benchmark your own system.
The idea of a POS system dates back to the original cash register machine. Today, POS represents electronic or digital devices by which consumers make payments. They process cash or card payments and often connect to inventory management.
Cybersecurity and customer preferences have forced POS software to evolve. Cyberattacks have caused large companies to lose customers’ credit card data. Also, customers adopted mobile and instant payment technologies to which companies had to respond.
But new POS systems provide back-end business benefits as well. Newer systems offer reporting and accountability tools that connect with core financial software. They prevent human error, even in fast-paced restaurant environments.
Newer POS systems are also highly intuitive. Restaurants can provide frictionless training for both staff and leadership. Systems streamline tip management and accountability as well.
7 Business Advantages of a Web-Based POS System
Does your current POS software support accounting, marketing, and security? It’s time your POS system becomes more than an idle piece of software. Your next POS solution can actively contribute to building your business.
Look for the following seven advantages in your next POS investment. Discover how web-based POS systems can transform your restaurant or small business for the better.
1. Improves the Payment Experience
How do payment methods relate to the customer experience? They mean everything if you own a restaurant.
The payment stage of a restaurant experience is a critical one. Customers are ready to leave before most staff deliver their checks. But self-service and mobile payment options turn a ticking clock into a retention tool.
More companies are offering pay-from-home mobile options that allow guests to order ahead of time. This opens up a new channel for sales and improves the customer experience. You can offer coupons and loyalty benefits through these systems as well.
Customers also enjoy paying on table-based devices. This way they don’t have to wait for the check. They can see orders itemized and receive an email of their receipt.
2. Reduces the Costs of Maintenance
Consider the costs of your current POS system. Think about how often you order supplies and request repairs. If you’re using software, is it using up precious on-site data?
With web-based solutions, you don’t have to worry about updates. Your digital tools require less maintenance than mechanical tools as well. Most digital equipment doesn’t require on-site service, either.
3. Provides Business-Ready Data
Interested in calculating sales and order trends? If you’re using an old POS system, get out your Excel spreadsheet. Web-based software supports business tools that give you a holistic view of performance.
Trends help you make marketing decisions and identify peak hours of performance. You can leverage this data to create better offers, loyalty programs, and food and drink specials.
What about your business as a whole? Web-based POS software gives you an overview of your costs and benefits. You can make better financial decisions with direct support from a POS system.
4. Prevents Human Errors and Theft
Recent research shows that 28.5% of all data breaches in 2014 were POS-related. There are hundreds of different types of data breaches. This really shows the vulnerability of most POS systems.
Do you think a new POS investment will outweigh the costs of potential disaster? Small businesses are frequent targets of a cyberattack. If your security isn’t up to par, don’t wait to find out.
5. Improves Efficiencies
How much paper is moving back and forth in your establishment? Leading POS software connects all of your teams to the same system. This helps you remove ambiguity between teams.
There are direct business benefits to this technology. Fewer customer orders get mixed up. You have a real-time view to improve accountability as well.
6. Integrates Customer Engagement Elements
Your POS shouldn’t be idle. It should actively support business growth. With modern POS technology, you can channel key customer engagement techniques.
First, include an optional survey after each meal. You can align survey data with the timing and orders of each party. This provides insights into regular customers and performance.
What can you do with that kind of performance data? Automate special offers for unsatisfied or regular customers. Pick out their favorite food items to incentivize their return.
Can your customers sign up for loyalty programs via your POS software? Make sure they have that option at every interaction. If you’ll use a mobile solution, make sure they can do it online.
Your restaurant name might not be top-of-mind for every consumer. Partner with third parties like Groupon to attract new customers. This helps you clear out older merchandise using discounts as well.
7. Gives You Long-Term Peace of Mind
As a restaurant owner, you have enough to worry about. You should be confident your POS software is working for you. Relieve yourself of concerns like maintenance, security, and accountability.
A modern POS system raises the bar in terms of your performance. It’s a new platform on which you can build future growth. Don’t settle for less than your business deserves.
Everything Your Business Needs in a POS Solution
Enterprise Merchant Solutions develops leading-edge POS systems for restaurants and businesses. We specialize in the Washington, Oregon, and Alaska State areas. That means we’re nearby to support your future growth.
Contact us now about our POS solutions and payment options today. One short conversation could lead to a better future for your company.