Benefits of restaurant management software

Benefits of restaurant management software

Restaurant management styles vary depending on the type of establishment, but the one thing that restaurants have in common is that they exist to make a profit. Restaurant management software helps managers maximize profits, reduce costs, and provide an exceptional customer experience. Suitable restaurant management software provides the benefits of increased efficiencies and reduced mismanagement.

What is restaurant management software?

A successful restaurant depends on many processes that work in sync with each other. Restaurant management software is designed with features to help restaurateurs manage and operate different aspects of their restaurants more efficiently and more profitably.

The following are some restaurant software solutions that can be used to make your operations run smoother:

Front of house solutions enables the guest experience to be the best possible. These systems are seen by customers and include reservations and point of sale.

Back of house solutions are responsible for the retail and manufacturing aspects and provide information about your restaurant’s labour and raw materials. Examples of the back of house restaurant software include employee scheduling and inventory.

Loyalty program solutions provide customers with incentives to return to your restaurant or spend more per visit. Gift cards and guest programs are types of loyalty program solutions.

Corporate and payroll solutions provide financial records for your restaurant. Accounts payable are also part of this solution and maintain financial control, including how funds are allocated to different aspects of your restaurant. Taxes and credit card reconciliation are examples of this aspect of restaurant management.

Human resources solutions enable the restaurant to employ and retain the most qualified employees. Training and terminating employees are part of this solution.

Restaurant management software

Attempting to control the numerous processes required to manage a restaurant without adequate restaurant software results in wasted time, money, and could ultimately lead to the failure of your business.

Restaurant management software & benefits

Below are the most common types of restaurant management software with their associated benefits:

  • Restaurant reservation system
  • Restaurant employee scheduling software
  • Restaurant loyalty program software
  • Restaurant online ordering software
  • Restaurant inventory management software
  • Restaurant point of sale (POS) software

Restaurant reservation system

According to OpenTable, a provider of online reservations, 83% of customers would like to add their names to a waiting list before they arrive at the restaurant. Restaurant reservation systems enable customers to book tables online and via an app and provide the following benefits:

  • Efficient management – You’ll be in a position to establish how many employees are required for different shifts and also organize your kitchen workers based on the number of reservations you receive. Where customers use a restaurant reservation system to book a table, your hosts are able to provide better customer service instead of spending time taking reservations on the phone. You’ll also avoid the embarrassment and possible loss of business resulting from overbooking and double-booking when using a restaurant reservation system.
  • Improved customer experience – Customers in an interconnected world value convenience and having the ability to book a table at your restaurant using an app (or your website) is a way to provide this convenience. A suitable restaurant reservation system should be able to provide your customers with real-time information about table availability. This system should also be capable of saving your loyal customers’ details and special dates, such as birthdays, to make booking a table even simpler.

Restaurant employee scheduling software

The proficient management of your restaurant’s employees is a determining factor in the success of your business. Traditionally, employees were managed using manual processes or Excel spreadsheets. The effects of these methods were headaches from misplaced schedules, frustration when changes needed to be made and wasted management hours as a result of attempting to organize employee shifts.

StorePoint POS-restaurant

Appropriate restaurant employee scheduling software removes the uncertainty and stress that’s associated with manual scheduling and provides these benefits:

  • Greater savings – Labor costs need to be accurately managed to avoid spending unnecessary money. Your restaurant employee scheduling software should provide labour costing functionality. This will help you to schedule shifts with the knowledge of how much labour will cost your business and also compare your predicted costs against your actual costs. Want to find out how much money your organization could be saving with employee scheduling software?
  • Better communication – Given that 81% of employees would prefer to join a company that values open communication, it’s imperative for your restaurant to place a premium on engaging staff. Your restaurant employee scheduling software should include features that facilitate and encourage communication with your team. For example, StorePoint POS can send purchase orders to suppliers, send low stock alerts to management and make sure all members of management know what is happening in the business via reporting send via e-mail.
  • Employee satisfaction – Employees like to feel trusted, so an effective way to provide them with autonomy is to give them some control over managing their shifts. Your restaurant employee scheduling software should make it easy for your team to swap shifts with suitable colleagues. You can set the parameters to determine who’s able to swap shifts to ensure that you’re always fully staffed without exceeding your labour budget.

Set up a call with one of StorePoint’s amazing reps to find out firsthand how StorePoint POS can benefit your restaurant by efficiently scheduling your staff and integrating with the most popular restaurant management software.


Restaurant loyalty program software

According to research, a restaurant can increase profitability by 25% to 125% if it reduces customer churn by 5%. Developing relationships with customers for repeat business is a crucial aspect of operating a successful restaurant. You can use restaurant loyalty apps, like Spendgo, to realize the following benefits:

  • Cost savings – Forrester Research has found that it cost five times more to gain new customers than to keep existing customers. Restaurant loyalty program software provides the opportunity for you to grow your business by reducing the costs associated with acquiring new customers. Incentivizing your existing customers to continue to choose your restaurant makes good business sense.
Restaurant management software
  • Brand advocacy – If your restaurant’s loyalty program software is combined with a referral system, you will benefit from word of mouth marketing. Recommendations from friends continue to be the type of advertising that has the most credibility. As a result, your restaurant will gain new customers from current fans and save you money by reducing the reliance on traditional forms of advertising.
    Better customer relationships – Restaurant loyalty program software helps to cultivate a long-term and personalized relationship with your customers. Sending customized offers on your customer’s birthday and other significant dates helps them to feel valued due to the fact that they’re treated as an individual.

Restaurant online ordering software

Ordering food over the phone can lead to miscommunication especially if the employee who’s dealing with the phone order has to simultaneously attend to customers in your restaurant. Keeping proper phone etiquette isn’t easy when hosts are attempting to juggle other tasks. If customers perceive that they aren’t receiving your employee’s full attention on the phone, they’re likely to order less food from your restaurant. Restaurant online ordering software removes the pressure of ordering over the phone and can result in customers spending 23% more on orders. In addition to cost savings, below are further benefits of restaurant online ordering software:

  • Customer demand – Online orders are about to overtake phone orders so, in order to continue to be relevant to your customers, you should offer handy ways for them to order. Restaurant online ordering software ensures that you’re keeping up with emerging trends.
  • Fewer mistakes – It’s easy for mistakes to be made when telephone orders are taken in a bustling restaurant. Customers will be annoyed if they have to continuously repeat their orders. However, a worse situation is where the wrong order is delivered. Restaurant online ordering software removes the likelihood of errors on the part of your restaurant because the order is in writing and serves as proof of what the customer wants.
  • Customer insight – If you choose to use in-house online ordering software, like StorePoint, you can gain insight into what your customers want by recording and analyzing patterns for each transaction. This information helps you to understand who orders regularly and also allows you to identify your most popular menu items.

Restaurant inventory management software

An inability to efficiently manage inventory could result in your restaurant being overstocked or understocked for essential ingredients. The consequence of having too much (or not enough) stock is that your restaurant will lose money. Restaurant inventory management software prevents wastage, both in terms of food and money and helps to maximize your budget.

The following are also advantages of suitable restaurant management software:

  • Improved supply chain management – Ordering inventory is based on what is actually being used in your restaurant. This accuracy allows you to optimize and automate your supply chain because orders can be done with a click of a button.
  • Better budgeting – You will be in a position to create more accurate forecasts based on the inventory required for different seasons in your restaurant. The accurate projection of food costs reduces wastage and will have a direct and positive effect on your bottom line.
  • Saves time – Restaurant inventory management software frees up time that would be spent managing your inventory using Excel spreadsheets. This system also cuts down on the time spent taking a physical count of your inventory and ensures more accurate results.
  • Reduces theft – Using restaurant inventory management software will help you to identify unusual patterns of stock reduction that may be an indication of theft. This should lead to further investigation to determine the reasons for your missing stock.

Restaurant point of sale (POS) software

POS software provides multiple functions in a restaurant – for example, tracking sales and accepting different methods of payments. POS software is capable of customization to fit your restaurant’s needs and can normally be integrated with other restaurant software to form an end-to-end solution. POS software, like StorePoint, enables restaurants to process credit cards, manage inventory and collect customer data.

The benefits of POS software for restaurants include:

  • Error reduction – Writing down orders for kitchen staff results in mistakes being made because the handwriting may be illegible. With POS software, orders are shown on the screen, so there’s less chance that the person preparing the orders will make errors.
  • Business reporting – Some POS software have the functionality to generate important business reports such as credit card transactions and servers’ sales. Efficient business reporting is essential for making decisions relating to your restaurant’s growth.
  • Increased productivity – POS software manages time-intensive tasks, like table distribution and price lookups. This enables your employees to focus on other jobs that increase productivity and improve customer experience.

Invest in your restaurant

As seen above, restaurant management software and apps have a host of benefits, including saving costs and improving employee morale. The restaurant management software you choose should offer continuous improvements and upgrades to provide you with the best solution possible.

Try StorePoint to find out how our latest developments, like food online ordering, can help you run a more efficient and profitable restaurant.


StorePoint POS integration Uber Eats

Uber Eats
StorePoint POS integration Uber Eats

We are proud to announce that StorePoint POS can now integrate with Uber Eats, which means that your customer can place an order with his smartphone. Your order is captured correctly by the customer and forwarded to StorePoint POS.

The Restaurant can then either receive the order or it can reject the order depending on the customer. The order then prints normally to the kitchen for either delivery or collection by the customer.

Picture this: You’re craving sushi. You heard about a great new spot a few blocks away from a coworker, and now that the craving has hit, you’re ready to order. You search the name of the restaurant in Google, and their website pops up as the first result. You’re impressed by how clean and easy to navigate the website is, and see a link for online ordering at the top of the home page. Score. You place your order and wait for the food to arrive fresh from a friendly delivery driver.

This could be the experience your customers have when they get hit with a craving for your specialities, but would rather enjoy their meal in the comfort of their own home. For the 89 percent of diners that research a restaurant online before dining, having a user-friendly website can make or break a sale from a hungry consumer. Making the process simple is key to securing the sale.

According to investment bank UBS, delivery sales could rise an annual average of more than 20 percent to $365 billion worldwide by 2030, from $35 billion. A recent study conducted by CHD Expert shows that restaurants will see this revenue from a variety of venues:

  • Takeout for pickup is projected to generate $124 billion in sales this year.
  • Takeout with direct delivery from a restaurant: $32 billion.
  • Takeout with delivery from a third-party delivery company: $13 billion.

What does this mean for restaurants? Adapting to the growing online ordering trends is crucial to the survival of your business. By tapping into the possibilities that online ordering has to offer, restaurants have the opportunity to grow alongside these unstoppable trends.


The Benefits of a POS Generated Report

Reporting benefits of a POS system

If you have a cash register, there is an inherent liability that goes along with it: the cash could disappear. When money is changing hands, there is a higher risk of both theft and mistakes. That is why having a third-party review your bookkeeping is invaluable to business owners.

By having a point of sales (POS) system recording each transaction, you can have peace of mind that, yes, this is how many sales were made and here is the money in the register to prove it. Tracking the sales and comparing your cash deposits is a way to make sure that your employees aren’t stealing from you.

Having unbiased sales reports on the back-end is the best way to track what’s happening in your storefront.

1. Don’t Waste Your Time 

There are many ways you could track your daily sales activity. You could keep a running spreadsheet of the reports and update it every time a register closes out. But what happens when you want to pull a cumulative report to see how much sales tax was collected?

Yes, there are ways of keeping track of your daily sales without investing in a POS system. But based on my experience of aiding a client through a sales tax audit, their POS system was priceless. Its ability to quickly pull any reports for a date range is unparalleled when compared to making the reports yourself. Even when you are proficient at using Excel, the work required to compile reports and create V-Lookup tables by hand takes the time that you should be spending on growing your business. 

2. Automation Prevents Mistakes

There is too much human error to account for in a reporting process that isn’t automated. Whether it is an Excel formula that got altered accidentally, a sale rung up after the register was closed (which requires you to try and figure out the over & short by hand), or the numbers that were simply mistyped, the accuracy of your reporting is too important to leave to any one person.

No matter how hard we try, there are going to be mistakes. So if you are still hand-keying information into a spreadsheet, you should stop now because in the end, it will take more time and effort to fix your mistakes than if you had invested in a POS in the first place. 

3. Daily Updates On Revenue

Recording income on a daily basis through daily sales entries is a way to get a snapshot of revenues in an instant. Your data is not 100% accurate by nature, but you can get a rough estimate of where your current revenue stream is in relation to your goals. 

With the option of being able to check in on your progress, patterns in the cash flow could be recognized more easily. 

4. Prevent Problems Proactively

If you have the opportunity to notice patterns, you could be able to pinpoint areas in the business that need attention. Being able to see the patterns in the day-to-day activities as they occur could give you the information you need to proactively handle potential issues rather than waiting for real problems to materialize.

Why POS Systems Are Worth The Investment

Overall, POS reporting is the best way to get an unbiased report on what is happening at the cash register: 

  • If there is something fishy going on, you will know, because verifying the report versus what hit the bank is one of the most effective controls on cash.
  • POS reports save you the time and money you would otherwise waste going back to fix the mistakes that someone made hand-keying the information into a spreadsheet. 
  • You have up-to-date information on your cash flow, which gives you an opportunity to see how you are measuring up to short-term goals, allowing you to address problems as they arise, rather than after the fact.  

If you have the tools to assess where you are in relation to your goals, then that is the first step of keeping your business on track.

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Choose your retail POS System

If you plan on having a retail store, you will need a point-of-sale (POS) system to complete sales, track inventory, and manage other aspects of your small business.  But deciding on a Retail POS system can feel overwhelming. Some are easier to use than others. Some give you better reporting than others. To help you narrow your search, here are three types of Retail POS systems to consider for your store.

StorePoint POS Back Office
StorePoint POS Back Office

All-In-One POS System

Some POS systems give you robust functionality in one application. Not only can you accept payment from customers but you can also get detailed reporting about your business.

These types of Retail POS systems often run quickly, saving you time both when checking out a customer and when collating your data. Because these systems are so robust, they’re often tailor-made to your specific industry. For example, a restaurant all-in-one POS system will look and react differently than that of a clothing store all-in-one POS system.

The potential downside to these systems is that they can cost a good amount of money each month. If you’re just getting started, you might want to opt for another system that’s better suited for your budget.

Restaurant POS Order screen
Restaurant POS Order screen

Cloud-Based POS System

Cloud-based POS systems are basically mobile apps your business can use on any device. This is beneficial to many types of businesses, including restaurants wanting to offer table-side checkout or retailers wanting to offer mobile checkout locations throughout the store.

If you’re using non-traditional hardware, such as tablets or smartphones, to accept payment, you’ll want to get a cloud-based POS system.

zipzap_card_processing
zipzap_card_processing

EMV Chip Readers

In late 2015, consumers started to have their credit cards switched to include the EMV chip. Store owners were supposed to do the same, yet many retailers have been slow to adopt EMV chip readers at their POS systems.

EMV chip readers don’t matter much for consumers, but they make a big difference for retailers. If there is a fraudulent charge, retailers have better protection when a chip reader is used rather than the traditional swipe-to-pay system. If you’re shopping for a new POS system, getting one with a chip reader is ideal. Soon, it’ll be the only option you have.

Which One is Right for You?

Narrowing the pool of choices to the type of POS system will help you decide which one is right for your needs. If you’re well established and have a healthy revenue stream coming in, an all-in-one might be the best option. If you’re just getting started, you’ll want to steer toward the cloud-based POS systems. And, if you want to stay compliant while minimizing your risk, you might want to limit your search to only include POS systems with EMV chip readers.


Benefits of POS Item Modifiers

Forced_POS_Item_Modifiers

One of the most overlooked functions in your Restaurant POS System is the item modifier functionality. So many restaurant pos systems claims to have food modifier functionality in their restaurant point of sale. It becomes problematic when you bought a retail pos system to be used in your restaurant or quick service restaurant.

So let us have a look what is a food modifier and what it does. A food modifier is option that pops up, when working in the menu order screen. Modifiers could be forced or could be a choice.

Forced modifiers allow you to force the server to pick from a preset list of suggested or acceptable items on the menu. They are usually added to the main entrée or a choice of food or beverage that requires specific preparation instructions. This feature forces a set number of item choices to be chosen by the server from the order screen. When Forced Modifiers are attached to a particular product, the server will not be allowed to continue the order until a modifier is chosen or they exit out of the Forced Modifier screen. Forced Modifiers will be attached at the product level.

Exception Modifiers allow you to pick from a preset list of suggested or acceptable items under Exception Modify tab on order screen. This feature is similar to Forced Modifiers with the exception of the server being “Forced” to choose a selection. The server now has options to modify an item or exit modifications and continue with the order.

Benefits of item modifiers are:

Modifiers ensure that orders are correctly placed and send to the kitchen. So cooking instructions and choices are sent correctly to the kitchen. Keeping your customers happy.

Save money as orders are placed correctly as received from customers. No more wastage.

Inventory depletion plays a vital role in the execution of choices during the ordering process.

When using restaurant online ordering modifiers ensure the correct ordering from customers, ruling out incorrect orders, and wasting stock and enhancing the customer experience.

For further information on our restaurant pos systems please visit Home StorePoint Restaurant POS


Kitchen Display System vs. Kitchen Printer?

Originally designed to handle QSR businesses, kitchen video display systems have become increasingly common fixtures in quick, casual and fine dining kitchens alike. Kitchen Display Systems eliminate steps, cut down on errors, improve productivity and speed of service, and drive increased guest satisfaction across all types and sizes of restaurants. Full-colour displays and multiple screen layouts make orders easy to read. The Bump Box is designed to make orders easy to control. And rich reporting keeps you on top of staff productivity at all times.

With a Kitchen Display System, service is faster and more accurate, reports more detailed and complete, and end-of-day closings simplified: all at a significantly lower cost than printer, paper and ink. The IT Perspective Installation and configuration is typically very simple as everything is preconfigured, no matter how many controllers you run. Every network address, device ID, the wireless connection—all the technical settings—are preset, or are configured automatically on initial startup: including integration with your POS system.

You can modify any or all of these settings—from changing the IP address of the network adapter to changing the color displayed for soft drinks—from the most familiar of interfaces. The Financial Perspective Kitchen Display Systems have a lower Total Cost of Ownership (TCO) than Kitchen Printers For example, StorePoint Restaurant POS, there are two cost elements: all one-time, fixed costs.

1. A perpetual license.

2. Flat screen monitor(s). With printers, there are three costs: two of them go on forever. 1. The cost of the printer. 2. The annual cost of paper: R 2000-00 3. Annual cost of ribbons: R 3000-00 After four years, the cost of printing can be more than triple the cost of a kitchen display system.

Kitchen_display_System

Operations’ Point of View

A busy kitchen can struggle to maintain control in an environment driven by slips of paper. With a kitchen display system, the operational inefficiencies of the “enter-print-post” method of placing orders, fighting for a spin of the order wheels, expediting, and quality control are eliminated. The endless stream of orders coming out of paper printers— and the problems of backlog when the paper runs out unnoticed—is ended. In its place: a simple, direct connection from the point of sale to the place of preparation. It makes the last steps easier and more correct, providing both chefs and expeditors with pictures of the complete meal for garnishing and presentation control.


Three Emerging Retail POS Technologies

Emerging technology trends and mobile devices are changing customer expectations. To remain competitive, small and midsize retail businesses (SMBs) need to adopt a point of sale (POS) tools that address these changing needs.

According to Gartner’s Market Guide for Digital-Business-Ready POS Applications for Tier 2 Midsize Multichannel Retailers, 2016 (content is available to Gartner clients), it’s also important to consider how digital business-ready POS technologies will affect customers’ lifestyles.

For example, customers will start seeing checkout lines as a waste of time when other stores allow employees to check them out from anywhere in the store.

This article will help SMBs understand key retail trends and explain how new POS technologies can help businesses embrace mobile devices, social media and the internet of things (IoT).

zipzap_card_processing
zipzap_card_processing

Technology #1: Mobile POS

Mobile POS systems integrate with common mobile devices like tablets and smartphones to scan products and process payments. According to Gartner’s Hype Cycle for Retail Technologies, 2016 (content is available to Gartner clients), these technologies will become mainstream in less than two years.

These systems can speed up the checkout process and help employees better interact with customers. They’re also useful for small retailers with limited floor space, as they reduce the need for a dedicated cash register.

Mobile POS systems are more suitable for low-margin items, such as groceries, than high-margin categories, such as apparel and electronic items. These products require proper bagging and de-tagging by store associates.

If a retailer has fixed checkout areas, they should make sure that the mobile POS system integrates with their main POS app.

Benefits of Mobile POS for Small Retailers

Mobile POS systems can help small businesses and retailers in a number of ways:

  • Manage multiple stores and engage with customers in a better way: Mobile POS lets retailers track their sales, profits and inventory levels at different store locations using a unified dashboard on their mobile device. Some options integrate with loyalty management programs so customers can access them from their mobile device.
  • Improved sales and data security: These systems allow sales associates to conduct transactions easily from any location inside the store, thus providing better customer service and making more sales. In addition, transactions carried out through a mobile POS are fully encrypted and do not store card data.

Is Mobile POS the Right Solution for You?

According to a recent survey by Boston Retail Partners, 84 percent of the surveyed retailers plan to deploy mobile POS solutions within the next three years.

Many SMB retailers who called Software Advice were also interested in buying a mobile POS in the near future. Here are some sample conversations:

  • A small retailer with a single-store operation wanted a POS system that could automate their sales and track inventory efficiently. They were also interested in a mobile POS option since they visit about 40 events and shows annually.
  • Another retailer with operations across four stores was unhappy with their existing POS system due to ongoing data loss. They also required better credit card processing and were interested in a mobile POS for sales during trade shows.

A mobile POS helped these retailers:

  • Make sales at various trade shows and events. Retailers can meet customers directly at trade shows and conduct sales on the spot. Also, they won’t need to convince customers to visit their stores at a later time, increasing the chance of a sale.
  • Check inventory levels. When a customer asks for a specific product, the associate can use their mobile device to check its availability. If it’s not in stock, they can even place an order for it.

To view the various options, check out our guide to mobile POS systems.

Technology #2: Loyalty Management Systems

These systems enable retailers to reward and interact with regular customers through a centralized system that tracks loyalty points, discounts and gift vouchers. According to Gartner’s Hype Cycle for Retail Technologies, 2016, loyalty management systems will become widespread within two to five years.

These systems can help small retailers encourage and reward customer loyalty. They can help businesses track customer interactions on social media and mobile, and provide appropriate rewards, such as cashback offers or special recognition.

Benefits of Loyalty Management Systems for Retailers

Loyalty management systems can benefit retailers in numerous ways. Here’s how:

  • Increase sales: Loyalty management system capabilities help you build and maintain ongoing relationships with your most loyal customers.
  • Simplify loyalty program adoption: These systems can enable customers to participate in loyalty programs using mobile devices, increasing their adoption.
  • Appeal to millennials: recent study found that millennials are twice as likely to pay a premium if they are earning loyalty rewards.
  • Understand customers’ buying patterns: Retailers can track and understand their customers’ buying patterns. They can offer personalized deals to customers based on their purchase histories and buying trends.

How are Loyalty Management Systems Useful to You?

Thousands of small and midsize retailers already use loyalty management systems or seek to deploy one. Based on a recent survey by Local Commerce Monitor, nearly 24 percent of the SMBs surveyed offer some kind of loyalty program. About one-third of the respondents plan to start offering a customer loyalty program in less than a year.

Chris Luo, VP of Marketing, FiveStars, a loyalty technology company, revealed to Forbes contributor Nicole Leinbach-Reyhle that he believes most retailers that retain customers through repeated sales have better chances to enhance their overall profitability.

Luo is also of the opinion that loyalty programs enhance the overall lifetime value of customers by nearly 30 percent through retention and increase in number of visits and spend.

Retailers can use loyalty management systems in numerous ways.

For example, an SMB crafts retailer in the US that deployed a customer loyalty program had nearly 20,000 customers sign up for the program. The retailer can now identify the most valuable buyers and reach out to them to promote sales events, trade shows and new merchandise.

Technology #3: Digital Wallets

A digital wallet solution securely stores a person’s credentials, such as bank account details, identification cards, loyalty programs and payment cards. Customers can use it in a retail store using their mobile devices.

According to Gartner’s Hype Cycle for Retail Technologies, 2016, digital wallets will see mainstream adoption in two to five years.

These wallets can also store multiple payment options, and customers can keep track of their loyalty program progress and benefits.

Apple Pay in action

Before making large technology investments, SMBs should determine whether there is customer demand. As the technology becomes more popular and SMBs adopt digital wallet technologies, they should explain the advantages of these systems to more reluctant users. Incentives should be considered in order to drive customer use.

The use of digital wallets can significantly increase sales for small retailers. Customers will appreciate the ease of transactions and the opportunity for customized offers.

Benefits of Digital Wallets for Retailers

Digital wallets can make the transaction process faster and more efficient. They also offer additional benefits:

  • Simplified buying process: Digital wallet technology can ease the shopping experience for customers by securely storing customer’s’ payment card information on the server.
  • Increased sales: Customers usually prefer a streamlined buying process and would return to a retailer if their overall transaction process is quick and easy. This gives opportunities to increase sales as existing customers would repeat their buying.

How are Digital Wallets Being Used?

An apparel retailer that operates in two stores contacted Software Advice regarding a retail system to automate their core checkout processes, manage inventory in the stores and track customers. They need the system to support payments made through Apple Wallet or Android Pay, as well as have e-commerce functionality and back office analytics.

Takeaways and Next Steps

These technologies are already in the wild, and customers will increasingly rely on their ease and convenience. To remain competitive, it’s essential for SMBs to be aware of these trends and develop a plan to adopt them within the next two to five years.

Have a look at our website to see what to keep in mind when it comes to technology for your business that best fits your company’s needs.


5 ways to ensure a more profitable future in retail

It’s clear that the retail landscape is in a state of a major transformation. Thanks to disruptive technologies and changing consumer behavior, traditional retailers are under increasing pressure to keep up with digital-first companies such as Amazon, Takealot, Superbalist, etc.

StorePoint POS Back Office

A large SA retailer that employs approximately 40,000 people, is implementing a survival plan to ensure it does not close its door, having previously reported having struggled with making enough profit in the past. The retailer’s plan, which will help to up its game, is based on seeking funding and not using technology to up its profits.

The future could look bright for those retailers who are willing to embrace innovation and invest in long-term growth. But how do they need to adapt? And where should they be focusing their spend and resource?

Here are 5 ways retailers can safeguard their position in an omnichannel world.

1. Bring the shopping experience to life

There’s no doubt that the selection pressure on retail businesses is changing, and those that fail to adapt certainly face decline and even extinction. But whilst traditional retail businesses based on brick-and-mortar stores urgently need to update their business models for the Amazon age, they also need to start recognizing the unique advantages their physical locations offer – and then using technology to enhance them.

After all, unlike shopping online, the brick-and-mortar experience is one of true discovery, which can be done with friends, and also offers the possibility of in-person interactions with retail staff. The more retailers can play up these three elements, the more they can win back the hearts and minds of consumers, using the opportunity of in-store interaction to their unique advantage.

2. Break down departments to connect shopper behavior online and in-store

If retailers invest properly in infrastructure that breaks down internal departments, they will be able to offer consumers truly omnichannel shopping experience.

Until recently, there was no connection between what a shopper bought or looked at online and their behavior in-store. But knowing who the customer is, where they are, and their preferences is critical. To do this, retailers are using analytics, location, and context, and seeing rising sales as a result.

By aligning back-end operations with front-end customer service, and using technology at every step of the supply chain, the retail industry will start to get a single, multi-channel view of its omnichannel customers. This is exactly what it needs to offer the seamless, streamlined experience that consumers now demand.

3. Gather deeper insight into stock and inventory

Tied to the above point, part of developing insight into a customer’s in-store behavior includes collecting data around stock and inventory. At present, the structure of many retailers fails to live up to the needs of modern customers. Stock is typically received and allocated to different departments that serve the physical shop, e-commerce, pop-ups, and wholesale. But this kind of approach is no longer fit for purpose in an omnichannel world.

With growing customer demand to access any item through any channel at any time, retailers need to have a precise picture of their inventory 24/7.

To achieve this, and ultimately increase profit margins and retain customers, retailers must improve their POS systems and make better use of inventory tracking technology. Investing in technologies such as radio-frequency identification and electronic shelf labels will enable retailers to monitor stock levels in real-time, and ensure they know exactly what they have in at any given time. Not only will this avoid customer disappointment in out-of-stock items but it maximizes efficiencies, saving the retailer time and money in the long-run.

4. Empower employees with technology

If brick-and-mortar retailers are going to overcome the challenges they face, they must be willing to invest both money and time into offering the kind of experience customers have come to expect. Perhaps surprisingly, the focus for this investment starts with employees – more specifically, empowering employees through digital technology and connected workplaces.

After speaking to 900 managers and non-managers in global retailers, and conducting interviews with two industry experts for our report The Road to Digitalisation in Retailing, we found that retail workers using digital workplace technology were not only more productive (72%), but also better able to differentiate their customer offering against the competition (59%).

The benefits of digitization for employees is clear. But with more than a third of those surveyed saying retail has been slow to implement workplace technology compared to other industries, retailers must make this more of a priority. To thrive, they must focus on technology at the edge of the network – in the physical locations that staff and shoppers are most likely to interact, and then provide staff with the connected digital tools that allow them to deliver a more personalized service to every customer.

5. Think differently about success and ROI (long-term investments vs. short-term gains)

After years of focusing only on spending that brings immediate results, retailers are having to accept the need for long-term investments in both POS systems and people. Because unless they conduct a full overhaul of their legacy infrastructure and bridge the skills gap by outsourcing the right talent, they stand little chance of navigating digital transformation successfully.

Rather than mothballing any project that doesn’t deliver instant gains, the industry needs to find new ways of measuring success over longer periods of time. Once retailers get comfortable with this, they can start to focus on building smart digital workplaces – spaces that connect back-end employees with those on the shop floor and provide them all with the tools and flexibility to do their jobs properly.

For retailers, the present can sometimes seem bleak, but the future doesn’t need to be. If that is, technology is embraced and integrated in a way that empowers employees, serves customers and improves the bottom line, and retailers prepare to hold out for longer-term results.


Restaurant POS Benefits

online-pos-system
online-pos-system

Here are a few things which can be taken care of by using a StorePoint POS Restaurant Management system:

  1. Table Restaurant Management.
  2. Creating Multiple Menus
  3. Order Customization with Modifiers
  4. Different Menus for special events with Special rates and taxes
  5. Add/ Split Bills
  6. Multiple payment Gateways
  7. Manage Dine-in Services
  8. Manage Delivery
  9. Take away Management
  10. Multiple Reports.
  11. On-line Food Ordering
  12. Automated Stock Alerts
  13. Cash Management
  14. Supplier Management

Advantage of Cloud-Based POS System

Technology moves on and new features are often launched. Today many POS Systems are cloud-based and this can be a real advantage as it offers many features and facilities to your store. Here we list some good reasons to have a cloud-based POS system and increase your productivity.

1. Flexibility

A cloud-based POS system can be accessed from any devices as long as it has a browser. From a phone or a tablet, from work or from your sofa, you will always have access to your data. Managing your business doesn’t mean that you have to be in your store anymore.

Cloud _POS_System

2. Mobility

Besides managing your business from home, a cloud-based POS system also allows you to be mobile inside the store. As the system can be used from a portable device, it allows sellers to move around with the equipment. This can be very practical as vendors can have the product’s information quickly available. Moreover, this feature is extremely used in restaurants as it allows waitresses to automatically send orders to the kitchen printer, and take payments at the customer’s tables. Having an mPOS system, therefore, improves customer service.

3. Real Time Processing

As soon as an item is sold, the cloud based POS system instantly saves the information. Sales reports, stocks and customer information are always updated.

4. Secure Backup

With a cloud based POS system, data is always saved online, which makes the system safer. Additionally, as everything is automatic, you don’t need to worry about where and how often your data needs to be backed up. 

5. No High Up-Front Costs

Most of the times a cloud-based POS system can be installed on your existing device, which will save you from buying an expensive hard drive, such as a computer. Regarding the software, it can come for free to up to R 10,000. The cost of the program varies depending on the number of cash registers, the number of items in the store and the number of vendors.
Additionally, you will generally need to pay a low monthly fee. This will typically be between R400 and R900, and the fee can be fixed or based on credit card processing charges.

6. Personalized POS System

A cloud based POS system has many different options and you can decide which ones you need for your store and which ones you don’t. Marketing, accounting and loyalty programs can be totally adapted to your needs. You might need a management option to help you successfully control your employees. Also, it could maybe profit your store to have a powerful loyalty program that could advertise your business.

Pos __system

7. Have the Latest Trend

In today’s world technology is moving very fast, and you don’t want to have your new equipment obsolete a few weeks of possession. A cloud based POS system can usually be updated easily and for free. New versions secure you will always have the latest trend and the best available tools.

8. Keep track of your Performance

A cloud based POS system can easily be upgraded, and it can track your growth and business needs. Additional product lines, features or stores can be added to the software. Nevertheless, even if it is rare for this equipment, don’t forget to check if your provider charges a cancellation fee to avoid being locked in a specific contract.

Even if a cloud-based POS system seems perfect, there are a few points to check before opting for this option. Check how you can transfer your data from your existing POS system, and if the provider will help you in this process. Also, you need to be sure you have a powerful internet connection or software that can run without it, and synchronize when you are back online. You don’t want to be in a situation where you can’t receive any payments.

On-Line Integration

Cloud-based point of sale systems offers easy integration to accounting packages like Sage One and QuickBooks. Integration also means quick access to restaurant food online ordering like StarvinMarvin Food On-line ordering system

Are you tempted with the advantages and importance of having a cloud-based POS system at your store? Before making a choice, you need to know which features your business needs.

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