Wherever money changes hands in your venue, that’s your point of sale. That’s the traditional meaning of the term, at least, and how it appears from the outside.
But your point of sale – the system that you use to manage this transaction – is much, much more than this simple idea.
Your point of sale is the focal point of your hospitality operation; it’s the heart, brain, and central nervous system of your venue.
The value of your point of sale system
Think about it: everything your business does is managed through your point of sale.
Today’s POS systems are intelligent, sophisticated, fully-featured business management tools that let you keep a handle on every part of your business, whether it’s customer orders, stock management, accounting, or kitchen management.
Your point of sale system is what keeps your venue ticking along—without it, you’d be back in the old days, writing down orders on slips of paper and ringing them up on an old cash register.
Your point of sale powers everything you do, so you want it to work efficiently. And the faster it works, the better.
Why your point of sale matters
Point of sale systems have, for the most part, replaced those slow, clunky cash registers and tills. Instead of keying in the price of an item for each sale, you simply press the item button on your menu and the total is adjusted immediately.
Credit card payments are synced to your system, meaning no more time-consuming reconciliation at the end of service.
The ability to process payments quickly and accurately makes all the difference to both you and your customers. One streamlined point of sale system means less double handling—all your sales information is processed once only.
That means less room for human error and fewer chances of dropped sales. It also ensures all payments are captured and all your customers orders are processed accurately.
A reliable point of sale system will not only keep your queues moving, but will also keep your business on track.
A smarter way to run your venue
Using your point of sale, you’re able to track your sales data and use the numbers to see what sells best and what doesn’t. You can use this information to manage your menu accordingly.
Every expense is tracked, including employee hours and productivity, so you’ll know exactly how much you’re spending and see where you need to tighten up.
You can even use your point of sale data to track deals and promotions, to see what works and what doesn’t, giving you real-time feedback on your marketing tactics. You can’t do that with a cash register!
You get a better way to manage your inventory, too. An integrated point of sale system allows you to manage your inventory electronically, meaning all your incoming and outgoing stock is logged in one central, searchable location.
No more relying on pen and paper, no more piles of paperwork you dread to look at. All your inventory information is recorded and managed from your point of sale.
A focal point for your business
Your point of sale, integrated with reporting software, gives you powerful reporting tools to keep track of your venue.
These systems let you analyse your data in minute detail to get an in-depth understanding of every element of your business. You’ll be able to:
- see where food is being wasted
- pinpoint your slowest hours and create same-day deals for customers to fill these gaps
- track staff hours and see who are your best-performing employees.
Your point of sale lets you streamline your business decisions through one easy-to-use hub.
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What your point of sale means for your customers
From a customer’s point of view, your point of sale makes all the difference in their experience.
With every customer transaction managed electronically and quickly through your point of sale, and their payments handled in a flash, your customers get a smoother, more efficient service.
It gives you an air of professionalism, and your customers will have confidence and comfort that you know what you’re doing.
Couple this service with great food and drinks, and it’ll definitely give them something to talk about—and it goes without saying that good word of mouth is invaluable in the hospitality industry.
As an extra bonus, your point of sale also lets you say ‘thank you’. You can make your customers feel like they’re a part of your family by using their sale data to get to know them better.
Using third-party marketing software you can tailor rewards and incentives just for your customers based on their purchasing habits. It’s a great way to increase return and reward people for being your loyal customer.
As well as keeping you on top of your margins, your point of sale ensures that your reputation for the best customer service will precede you.
What Impos can do for you
After more than a decade in the hospitality industry Impos knows what it’s like out there, and we know what it takes for your venue to run smoothly.
Whether you’re a café, bar, restaurant, pub, club, or food truck, we’ve got a system and the hardware to suit you, and help you get your business off the ground.
We can help you use your point of sale system to:
- run a more efficient business with quicker service and better order accuracy
- get a more effective table layout
- increase productivity and maximise your rostering
- reduce costs through analysis of your data
- track your inventory to reduce wastage and shrinkage and more accurately cost your menu items
- get all your systems and integrations communicating more effectively
- get to know your customers better and learn how to market directly to them.
So if there’s one key focal point of the hospitality industry, it’s your point of sale. This central hub acts as the control centre for your venue. Learn more about our full-featured POS system at Impos today to enjoy a faster, more efficient business today.