POS (point of sale), also known as point of purchase is a hardware as well as software in MSMEs and large businesses designed to make the procedures and sales quick and convenient. Do you know that according to Grand View Research, 2020, the market size of POS is expected to reach $18.1 billion by the year 2027?
In the same year, research published by Retail Consulting Partner proposed that 59% of retailers want to introduce the POS system in their businesses in 2020 while 52% of retailers want to upgrade their POS systems. This growing popularity of POS systems signifies their increasing importance and benefits in business owners' day-to-day lives.
Today's modern restaurant POS Software are designed to run on iOS and android tablets to make the long restaurant management proceedings efficient, convenient, and profitable. In this article, we will introduce tips and tricks on how to increase restaurant sales using the EBT POS system. Before this, let's take a look at what exactly is the function of a POS system.
POS System and its Functioning
POS (Point of Sale) is a system that tracks the sales of any business while accepting payments. A POS system is usually available for both, physical stores and online stores. An EBT (Electronic Benefits Transfer) POS system refers to the digital cash registration which is accessible on any internet-enabled device including iOS and Android tablets.
Whenever a person buys a product, the POS Software allows the customer to scan a barcode scanner which displays the item's price after adding products to the cart. Square point of sale is a kind of software that allows the visual scanning of products via a device's camera. Then the POS system auto-calculates the price of products and taxes imposed on them.
The customer then makes the payment through cash, debit card, credit card, loyalty points, tap cards, gift cards, etc. Once the customer makes a payment, the system creates and prints the final receipt of the purchase. A POS system not only assists in digital transactions but also has other important ends to serve. EBT POS System features includes:
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An inventory management software keeps track of every product's market status and informs price inflation and deflation.
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Some POS also come with employee management software which looks over when the employees are working and assesses their performance.
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A quick and detailed POS report which proposes ideas and statistics about how much are you earning and what are your monthly sales.
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It also has customer relationship management software which finds out the interests, age groups, preferences, and other information of your customers. It also keeps track of what product is more popular and achieves the highest sales in your online store.
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The software also supports online tipping for the workers of a restaurant.
The Wise Small Business EBT POS system guide is an excellent resource for understanding the features and benefits of these systems, as well as how to set them up and use them effectively in your business.
7 ways to increase your restaurant sales using the EBT POS system
Since now you are aware of the functioning of POS, here is the list of ways by which the POS system can benefit your restaurant by boosting sales:
Enhanced Customer Experience by Tableside Offering
- Gone are the days of traditional notepads for writing orders in a restaurant. Although notepads are still used at several hotels, POS systems are still replacing these with iPad on online scanners. Customers can either just write the orders on iPad or any other device provided to them or they can just simply scan the barcode through their smartphones.
- After scanning, the whole menu of that restaurant will appear on your mobile and you can add the dishes to the cart accordingly. It also displays the total cost of your order which makes the calculation convenient and sorting dishes. Your menu reaches the kitchen automatically and quick barbecuing begins. This effortless adding and eliminating receptacles delights the customers and hence, enhances the customer experience.
Convenient and Complete Inventory Surveillance
- A whole data of even a single dish, the number of ingredients used in it, and its profit margin are required to calculate the earnings of that particular dish. A POS system has inventory management software that keeps the track of this information to ensure a profit on every plate.
- This allows you to give preference and advertise those dishes on your menu which yields high profits. When you have a clear list of expenses at your fingertips, it becomes easier to finalize the deals and negotiate with dealers.
Use CRM for Customer Wellness
- Regular customers make up a huge part of business sales. The focus should be on these people who have already visited your restaurant. To convert these first-ever visiting customers into regular customers, you need to add genuine rewards for another visit that profit customers.
- These can be points, gift cards, and discounts that can be redeemed on the next purchase. You can also introduce the VIPs payment or advance payment options for customers. You can create their account, personalize their experiences and show up dishes and deals via push-up notifications.
Making Staff Management a Bed of Roses
- Do you know that a POS system can reduce your heavy workload by administering whole staff management with one software? It can track staff activity by displaying breaks, clock-outs, and clock-ins. It also creates employees' personalized accounts and takes over payroll management.
- It creates an automatic schedule to be implemented by staff according to previous sales. A few advanced POS systems also allow tracking activities such as labor costs, staff performance, and overtime hours.
EBT POS Supporting Quick and Secure Payment Processors
- Every restaurant's volume varies, and so do its payment processing systems. You have to choose the processor according to the orders received, cash inflow, and the size of your business.
- Nowadays, the new POS systems offer various customizable choices in payment methods such as digital payments including Google pay, Samsung Pay, Apple Pay, tap, dip, and swipe. Digital payment procedures remain secure and reduce the chances of fraudulent activities.
Designing the Virtual Layout
- Although designing the infrastructure and floorplan is the job of an engineer, modern POS systems also can create virtual layouts of your restaurant. You can customize the position of tables and chairs and add stuff according to the themes, parties, and occasions by enumerating the layout by searching on POS. This arrangement saves the salary of a theme planner and provides a quick one-night solution to your next-day event.
Give a Clear and Exact Look at Analytics
- A POS system delivers many reports important to classify stuff and calculate profiting substances. After getting insights, you can find out if a particular meal is profiting the total, and if it should be kept in a full-time banquet. Other end-of-the-day reports, monthly reports, staff performance tracking reports, etc. provide a clear-cut vision for the profit margins of the restaurant.
Wrapping Up
Hence, this was all about how to increase restaurant sales using the EBT POS systems. The POS system is continuously replacing the traditional ways of functioning and marketing. This advanced service has not only simplified the long awaiting proceedings of restaurants but also reduced the cost and staff required for hotel management. In keeping in mind its ultimate benefits, it is advisable to switch to a POS system for all small to hefty business owners.
