The evolution of a POS system has come a long way from paper till roll transactions to computers tracking inventory and record sales, and even going a step further to generate all sort of reports for analysis. Earliest transactions were made through cash registers where checkout counter employee would manually punch in prices, often with the help of price tickets/tags on the item being purchased. With POS software and systems simplifying complex data and information, it became easier to drive sales growth and generate profits for businesses worldwide. However, with things becoming more sophisticated for business and restaurant owners many advanced to cloud-based POS systems, storing all important data online, while others are still unable to unleash the true potential of a POS software. Here, we briefly explain what a POS system is, what hardware/components are required for a POS and how a POS system can help you drive sales growth at your restaurant/business:
What is a POS system?
Traditionally, the simplest POS system is the cash register, which is limited to only monitoring cash flow. Nothing more, nothing less!
However, modern POS systems are equipped with a heavy artillery of features giving you the opportunity to leverage the ability of databases and specialized data entry. Furthermore, POS systems give you the ability to instantly categorize and have access to all kinds of sales, comprehensive tax configurations, inventory & waste management, employee schedules, reports and analysis, and much more.
What is required to successfully set up a POS system?
Hardware
This comprises the physical components of machines which are required to set up a POS system. Hardware components includes, not limited to, cash drawer, printer, debit-credit card machine to process payments, barcode reader, cash register connected to a server, or any other device (such as a tablet) device linked to a cloud-based system. A POS system comes with an array of features and manages multiple departments of your business operations, primarily to keep track of sales and automize operations across all facets of the restaurant.
Software
Built to enrich functionality through the software component of the POS system, the software helps you manage a wide range of data and information. The software, for instance, lets you automatically check and update your inventory and generate sales reports (daily, monthly, quarterly, yearly) based on the sales data, all depending on the requirements and needs of the end user and the industry. Advanced POS software is proving their metal on daily basis across various industries such as hospitality and retail industry, with accuracy and efficiency!
Here are 3 ways how a POS system can prove to be vital at your restaurant:
Reports
As discussed earlier, POS system has the unique capability to generate a variety of instant reports. These reports are not limited to sales reports only, rather can help you with category-wise reports, coupon summary, highest selling item summary, hourly item sales reports, and much more.
Inventory Management
Modern POS systems automatically help you check and update inventory. For instance, if a customer orders a hamburger, a POS system would automatically reduce the number of buns, patties, and ingredients associated with the order and give you a report in real-time, which is fresh and current! Such an advanced feature can only help you execute effective operations. Not convinced? Well renowned POS systems have the capability to automatically send orders to suppliers once an item reaches their assigned low-level.
Networking and Flexibility
With mobile POS, terminal POS and cloud-based POS, you access your sales data anytime from any location, for instance, with mobile access. Further, you can manage sales and communicate with other terminals within the network, or with handheld devices, for tracking operations, reports, and/or sales, from any location. This can play a crucial role in the overall success of restaurants, especially for multi-chain restaurants. Such functionality is suitable for all size of businesses, including startups, as POS system provides affordability, convenience, and scalability.
Point Of Sale system can help reduce your paperwork, business to your customers within the easy-to-use process, give you more time to manage by doing the heavy-lifting and contain all the information in one database.
Making it easy for you have access to any information, do damage control and run the business smoothly. Best restaurant POS software, Asimot, lets you do more in less time. With Reports accessible on the go, you can access any, and all, information anytime, anywhere. With such a variety of reports from Asimot, there is Nothing Change of manipulation, fraud, overcharging customers, and/or deleting bills of the sequence.
