Technological disruptions have led to a drastic change in the patterns of day-to-day business operations across industries. The food and beverages industry is no different and the function that underwent a major transformation is the restaurant billing system. The sole purpose served by the conventional cash register or a restaurant billing machine was to keep a track of the daily cash inflow and outflow at the restaurant.
However, the time has changed, and we have witnessed the quick shift from the manual cash register to restaurant billing machine and recently to state-of-the-art virtual Point Of Sale (POS) systems.
Major Drawbacks of the Conventional Restaurant Billing Machine
There should be some solid reasons for you to switch from your existing billing system. First, let’s take a detailed look at the major drawbacks of your conventional cash register and restaurant billing machine:
1. Prone to Errors
Since conventional billing systems involve more human dependency, there are higher chances of making mistakes. Hence, it’s quite difficult to investigate the mismatch in cash balance at the end of the day. It can happen due to a lack of concentration or inability of your employees to handle the rush at the cash counter during peak times. However, you cannot overlook the fact that it’s your hard-earned money that goes wasted due to an inefficient process.
2. Fear of Theft
The last thing that you would want to happen at your restaurant is the stealing of cash. In the case of conventional cash registers that lack accountability, there is no such option to find out who was in charge of the billing counter at a particular time. As multiple people handle and be around the cash counter during different timings, there are more chances of misappropriation of cash.
3. Non-compatibility with Digital Payments Systems
The conventional billing system was designed in such a way that it accepts only cash payments. Later, with the advancement of technology, these cash registers were connected with credit/debit card readers. However, the major drawback of the system is that you cannot integrate the digital payment platforms such as Google Pay and Paytm with the conventional systems.
As per the survey conducted by Economic Times, the highest adoption of digital payments was witnessed in the Food and Beverage sector (25%). Hence, you cannot afford to miss a major chunk of the business just because you have not implemented a modern POS system.
How does a Restaurant POS System Work?
A restaurant POS system is a futuristic technology that is gaining more popularity than ever before. The utility of the system is not just limited to book-keeping and recording purposes. It is multifunctional and analyses the transactions at your restaurant to provide valuable insights for enhancing the profits.
With the help of leading digital platforms such as inresto POS, you can manage billing, reservations, inventory management, customer feedback, handle table and queue management using a single platform. The system also lets you integrate other modules such as inresto reserve, inresto feedback and customer loyalty programs into the POS platform effortlessly.
5 Top Reasons to Switch to Restaurant POS System from a Simple Billing Machine
As a restaurateur, it’s quite natural for you to compare benefits before investing in the modern day POS system. Let’s explore the key benefits one by one.
1. Less Scope for Errors
The need for manual cash handling is eliminated to a great extent under this system. Hence, the chances of making errors are quite less when compared to the conventional cash register system. The major advantage is that billing and real-time payment status can be tracked and recorded from a single dashboard. You can easily infer the details of the employee who was in charge of the cash counter at a particular shift timing. The POS system is preloaded with input to calculate net amount based on the current tax system.
2. Real-time Alerts to Keep Theft at Bay
Receiving real-time alerts based on cancelled and non-chargeable bills keeps a check on stealing of cash, it’s quite easy to figure out the exact amount of cash inflow and outflow. Timely alerts also help to curb the stock pilferage and theft can be cut down by aligning your orders with the inventory.
3. Ease of Integrating Digital Payment Platforms
With the advent of the POS system, it’s pretty easy to integrate the digital payment platforms such as Google Pay and Paytm. Due to the outbreak of Covid-19, dine-in customers have become more cautious about safety than before while visiting restaurants. Hence, the majority of the customers prefer contactless, digital modes of payment over cash payment.
The POS system also integrates CRM systems and seamlessly processes orders from third party online ordering aggregator platforms. Reservation bookings from multiple channels are punched-in on the same platform which makes monitoring pretty easy.
4. Valuable Insights on Customer Choices and Preferences
A wide range of detailed reports provides valuable insights on the preferences and tastes of customers. The menu at your restaurant can be tweaked based on this information. Based on the insights, you can also analyse the performance of your staff.
5. Access your Data Anytime from Cloud Platforms
The beauty of a cloud-based platform is that you can access the data anytime on any device. You can track the performance metrics and make changes from anywhere in the world. The data stored in remote servers are more secure when compared to that of local servers. The data stored in the POS system is critical as it stores information about clients, analytics and trade secrets.
Gone are the days when the restaurant billing machine used to function as a standalone system. In an era where technology has made path-breaking changes, an all-in-one POS system like inresto is imperative for your restaurant. Customers have become more demanding and to meet their requirements, it’s quite essential to switch to an integrated POS platform. The intelligent insights and detailed reports definitely help you to serve customers better and gain an edge over your competitors.