When is a good time to upgrade your Point of Sale System?
UK restaurants brought in a whopping £40bn in 2017. And the industry is continuing to grow.
So if you’re a restaurant owner in the UK, that’s great. But if you’re still running on an outdated point of sale system, that’s not so great.
When was the last time your POS system got an upgrade? For many companies, it’s time to make a change. Here are 6 signs it may be time to change your system.
1. Software is Outdated
The most glaring sign that it’s time for a new POS system is that the software is outdated. If your system runs slowly, has lots of glitches, or regularly needs to be rebooted during interactions with customers, it’s time for a change.
The last thing you want is for your point of sale software to negatively impact your business. So if this is happening, consider going a different route.
2. Out-of-Date Hardware
Next, consider your system’s hardware. If you’re like some restaurants, your point of sale computer might look like something from the 90s.
Think of how this comes across to customers. With an outdated system, your company has a negative image, sending signals that you’re out of touch.
Older systems also take up a lot of space. Many POS systems today include sleek tablets or flat-screen monitors that provide you with additional counter space while looking modern and clean.
Say goodbye to your old cash drawer, terminal, and receipt printer, and say hello a fresh updated POS system.
3. Poor Customer Experience
50 years ago, paying for your items was all customers expected to do when making a purchase at a store or restaurant But in today’s world, this is not enough.
In order to provide exceptional customer experience, you need to do a lot more than just that.
With a modern POS system installed, you’ll be able to create memorable and meaningful interactions with your customers. Some of these features include:
- Running customer loyalty programs that allow customers to earn free meals after a certain number of purchases
- Storing customer data like their birthday so you can offer them a tailored offer on their special day
- Detailed records of their past purchases and preferences
- Sharing company or product information at the point of sale
- Allowing customers to create individual profiles for a more personalised experience
And these are just some of the options. Modern POS systems feature all kinds of things that can improve the customer experience, which will improve your bottom line.
4. You Have Reporting Issues
Without reliable, accurate data, your business will fail. It’s that simple.
If you don’t know what menu items are selling best, what time of day is most lucrative, or what your margins are on certain ingredients, how can you make good business decisions?
The truth is that many point of sale systems of the past simply don’t do a good job with reporting. And if you want to grow your business, this will severely limit you.
Instead, you should look for a modern POS system that includes these reporting capabilities:
- Sales by certain customers
- Sales by specific employees
- Sales by tender type
- Inventory report by item
- Sales by category, item, and supplier
- Mobile integration on your other devices
Having access to this data will help you make better decisions, improving your restaurant as a whole.
5. You Manage Inventory Manually
Here’s a statistic that might shock you: one survey found that 46% of small and medium business either manually track their inventory or don’t track it at all. In many cases, people’s POS systems don’t have any type of inventory management built-in.
If this is your situation, consider making a change.
Certainly, manual inventory tracking can work. But it’s super easy to mess up and takes an incredibly long time to complete. In other words, a POS with inventory management is much more effective.
It’s even better if you can upgrade to a POS that organises your products into categories and can set reorder triggers so you never run out of food.
All restaurant owners know that regularly running out of items is a business killer. Fix this instantly with a new POS system.
6. Multi-Store Isn’t Supported on your Point of Sale
Last but not least, what about restaurants with multiple locations? The majority of POS systems of the past had no way to integrate with other locations. And when this is the case, things get a lot messier.
You don’t have a way to offer a personalised experience to your customers as they travel to your various locations. Many times, each of your locations will run independently of each other when it comes to the back office management. And you don’t have a seamless way to report on your business as a whole.
If this is your situation, make a change. It will simplify your operations immensely.
Whether you have 5 locations, 100, or are hoping to expand to 2 someday, it’s a good idea to work with a POS that can handle this complexity for you so you can focus on other areas of the business.
Point of Sale Systems: Closing Thoughts
Now that you’ve read all about the signs that you should upgrade your point of sale system, what’s next? Think about your situation. If these apply to you, consider making a change.
While it may seem like an expense right now, it will pay off in the end, resulting in happier customers and increased profits.
Want to learn more? Contact our team today.