3 Ways Restaurant POS Software Increases Profits

Written by  on 29 June 2015

Leveraging the many built in features of your restaurant POS software can empower you to better manage your restaurant, reducing costs and improving profits. Your point of sale system is much more than just a cash register—it’s a management tool. Your restaurant produces a wealth of information—from sales to customer data to inventory—and by harnessing that knowledge you can take your restaurant’s profits to the next level.

Cut Inventory Costs

Maintaining an appropriate level of inventory requires walking a fine line. Too little inventory and you’re left with angry customers who can’t get the item they want. Too much inventory and you wind up with wasted items that spoil. Your restaurant POS software can help you with this balancing act. It tracks sales, so you can predict the right amount of stock to have on hand. You’ll be able to enter inventory, see what’s been used, view what you have in stock, and forecast when to order more. This control prevents waste and ensures you’ll have the right amount of ingredients to meet customer demand.

This feature goes beyond just tracking items in your stock room, however. You’ll easily be able to tell if you’re experiencing high levels of shrinkage from misuse or theft. Monitoring stock levels will discourage employees from abusing their access to inventory items.

You’ll also be able to better manage your menu with this restaurant POS software feature. See which menu items are selling well and which are not. You’ll be able to remove poor moving menu items and replace them with more profitable items. This will also reduce the waste of ingredients that aren’t being used.

Improve Customer Relationships

Offering the best customer experience extends beyond serving delicious food. It requires cultivating a relationship with your customer in and out of the restaurant. Restaurant POS software can help you engage with your customers by tracking purchasing habits and demographics. You can easily enter names, addresses, phone numbers and email addresses. This information can be used to create targeted advertising or incentive programs.

Your restaurant POS software can also help you create promotions and loyalty programs to help you gain and retain customers. Send coupons and reward customers for their purchases. You can even print coupons directly on customer receipts. Once a promotion is redeemed, you’ll be able to track its results, so you know exactly how successful it was.

Optimize Your Labor Costs

Paying employees is one of your highest costs as a restaurant, yet many don’t leverage all of the labor management tools available in their restaurant POS software. Not only can you track employee hours and export hours to your payroll system, you can also predict staffing needs. By monitoring your sales, you’ll be able to understand your peak hours and staff them according. Slower days and hours require fewer employees, so you can more accurately schedule staff.

You’ll also gain access to alerts when employees approach overtime, so you can keep labor costs low. Real time reports, graphs, and alerts can empower your managers to send excess staff home and call employees in if staff is too low. A tighter grasp on employee management with your restaurant POS software will help you cut costly labor expenses.

Don’t let the rich features of your restaurant POS software go to waste. By leveraging statistics for inventory, customers, and labor, you’ll be better able to manage your restaurant—reducing costs and increasing profits.

Read 1010 times Last modified on Monday, 29 June 2015 15:11

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