How Upgrading to POS Benefits Your Business

An efficient point-of-sale (POS) software system can simplify and speed up operations in both restaurants and retail operations. With streamlined processes in place, business owners can boost staff productivity, improve customer experiences, and increase revenue growth, all thanks to a great POS software.

Here are a few of the benefits that can be achieved when you make the shift to a new POS system:

A new POS system makes billing easier

Restaurants and retail stores

Easy tracking of sales growth
Because of the high volume of customer turnout rates they receive, fast food chains and groceries process vast amounts of cash and credit cards daily. A POS system is essential for processing and tracking every dollar that is funnelled into your sales.

An efficient POS system yields faster customer transactionsBetter customer experience
A study conducted by the Retail Council of Canada found that Canadian shoppers demand a “seamless” retail experience, whether they buy in-store or online. Having a POS software allows retail stores to put all relevant product details in their system to be able to provide immediate information to customers. This reduces time and improves customer satisfaction. As a general rule of thumb, better customer service results in increased profits.

Streamlined processes create happy customers

Faster, systemized service
Most POS software was designed to help restaurants hasten their operations, from managing the tasks of your crew to helping you analyse data. There is software that allows the input of orders and tracking tables through a touchscreen device which make it easier for food servers to attend to customers. Other products allow communication between servers and kitchen personnel to help them be aware of their inventory status.

Augmenting your operations with these kinds of software will help your staff be more efficient in what they do. Thus, making more customers satisfied. POS systems made specifically for restaurants can perform the following tasks:

  • Receive orders from a menu and send those orders to the kitchen
  • Process payments paid through cash and credit or debit cards
  • Process discounts, split cheques, cancelled orders, and other billing alterations
  • Secure sensitive customer data like debit and credit card numbers
  • Analyze and monitor sales indicators for every location

Improved inventory management
Retail stores commonly have inventory tracking issues. Without an efficient tracking system in place, this can cost you time and money. POS software can help you manage your inventory and provide real-time updates. This helps you know when supplies are running low and what items completely sold out during the day. A good system will help you be on top of these concerns effortlessly.

Minimize errors with a reliable POS systemError reduction
Point-of-sale systems can help remove or reduce human error. As an example, handwritten orders can be misread, especially when the penmanship is poor. This results in wasted resources and a profit loss. A POS system minimizes these errors by allowing servers to key in orders and print them for an easy read.

Theft control
The order tracking systems used in POS software help restaurants and stores prevent theft. This software allows owners and managers to follow which specific items were ordered, who fulfilled the order, if payment was taken, and what payment method was used. This helps to manage inventory more closely and to reduce wastage and theft.

Maximized spaces
You can locate the latest models of POS hardware wherever is most convenient to your business. They can be mounted to walls or placed closer to customer areas to reduce wait times between taking and delivering orders. This may be a slight adjustment; but over time, it will yield to faster service, more satisfied customers, and quick table turnover.

A POS upgrade can improve your guests’ experience

The hospitality industry

An upgrade in hotel POS systems means a boost in comfort and convenience for guests. All aspects of hotel management are framed through the promise of superior customer service and hospitality. It follows that hotels should explore all avenues possible to deliver that promise. These include using an effective POS system.

Hotels can experience the following benefits when they leverage the power of a state-of-the-art POS software system:

  • Improved efficiencies – Smooth-flowing and structured operations are essential for hotels, especially during peak seasons, where there is an increase in demand and workloads. Point-of-sale technology streamlines hotel operations, including room bookings, length of stay, payment transactions, added charges, and room inventory, as examples. A great system analyses all relevant details for every booking, reducing errors and improving guest experiences.
  • Minimized booking mistakes – With a quality reservation system, hotels can make their booking processes less prone to error. Rooms can be flagged as smoking or non-smoking, pets or no pets, as needed. Length of stay can be tracked, preventing over-booking.

Information storage is centralized using a POS system.

  • Centralized storage of customer information – Since POS software stores customer information (e.g. birthdate, the number of times booked) in one place, hotels can analyse buying patterns simply and easily. This comes in handy when you want to reward loyal clients and establish a long-term relationship with them. Additionally, this helps add more value and deliver better service to specific clients in the future.

Extra benefits for all businesses

On top of the booking, sales, and inventory tracking benefits that a modern POS system brings to your business, it can also provide some advantages to branding and cost control.

New POS units can improve the aesthetic appeal of any restaurant or retail stores, just as newly-painted interiors or new signage can. The glossy screens and sleek design of a modern POS hardware create the impression that your business is future-oriented and that you prioritize efficiency and customer experience. They can also improve your bottom line by reducing your energy costs. Older devices have inefficient processors that do not only heat up but also consume excessive electricity as well. POS workstations with LED monitors consume 30 percent less power compared to LCD monitors, saving you energy and money.

What to do with old POS units

You’ve resolved to replace your old POS system with a new and improved one to enjoy the benefits outlined above. How will you dispose of your old units? Electronic waste or e-waste should be handled responsibly to lessen the impact it can have on the environment.

Here are environmentally-friendly ways to discard your old hardware:

  • Refurbish – If the old system is still functional, you can sell (or donate) it to someone else who can find a use for it. Alternatively, sell it to an organization that refurbishes POS hardware and sells them to consumers who don’t require the latest model.
  • Recycle – Damaged devices that can no longer be repaired can be sent to a recycling centre. There, the electronics are dismantled, and their parts processed into new products.

Going through the process of refurbishing or recycling electronics requires the assistance of a reliable POS solutions provider. If you’re planning to replace, reuse, or recycle your point-of-sale units, contact Point of Sale Remarketing Group. We can help you extend the life of your POS systems or recycle them for you.

If you’re a business operating within Toronto, Mississauga, or Brampton, call us at (905) 332-8809 or fill in this form for any POS-related concerns.