Staying competitive requires you to keep an ear to the ground and figure out how to solve new needs as they arise. If you are considering upgrading your point of sale system, you want to make sure it has the functions you need to effectively meet your business needs and help you stay competitive. Here are three functions you can’t go without:
1. Comprehensive Inventory Control and Management Tools
In any restaurant, these tools are a must. You need to have deep visibility into your inventory, and the ability to control it so that you can turn a profit. Food costs, profit margins, customer preferences, stock levels, and restocks are all factors that your software must be able to account for.
With the right inventory management tools, you can accurately forecast your current and future inventory needs and review historical data to ensure you are taking all variables into account. You can run reports on profit margins and determine whether adjustments need to be made to your menu prices. You can also ensure your ingredients on-hand are used before they have an opportunity to spoil. All of this helps reduce cost and waste.
Want more information? Check out our free eBook: 5 Reasons Why Merchants Should Use an Embedded POS System
2. Useful Reporting and Business Insight Tools
Inventory data isn’t the only critical data you’ll need to track and analyze to achieve more revenue and stay competitive. You’ll need reporting insights from all areas of business. Accurate data will be what sets a smart business decision apart from an irresponsible one. Tracking key performance indicators will help you understand where you are succeeding and where you are lacking, and provide insight on what steps you can take to improve.
Beyond that, you can determine what your most popular menu items are, identify which days and times you are busiest, and determine which servers are your top performers vs which may require some additional training. Better visibility into your business means better control over your business.
3. Reliable POS Environment Built to Minimize Downtime
Let’s call downtime what it really is: loss. Every minute that you spend not being able to work productively is a minute you’re losing out on profits and not realizing a return. Downtime is a major source of profit loss when it occurs. That’s why it’s critical to have a reliable POS environment designed to minimize downtime.
Embedded POS systems are built on solid-state technology. That means it was developed specifically to be used on the POS hardware on which it’s being run. An embedded OS means that cyber criminals aren’t able to write viruses or spyware for it, keeping your system safe. The self-healing network also helps to solve issues and minimize downtime. Since these solid-state devices don’t have a hard drive, there is no single point of failure.
Choosing a Dependable POS
There are many different POS systems available, and there is no one-size-fits-all approach that will work for everyone. However, there are some features that are universally required by all restaurant owners looking to improve their business. The ability to understand key data and act on it while minimizing downtime will equip restaurant owners to make informed decisions that grow their profits.
NCC offers solid-state embedded POS systems that equip business owners with the tools they need to grow their business. For more information on the technology we have to offer, contact NCC today.