It is high time to bid farewell to traditional cash registers. If you want to future-proof your business, opt for an advanced point-of-sale system solution. When it comes to security, functionality, and affordability, it is hard to beat new age POS systems.
Value of POS Systems for Your Business and Why They’re Better than Cash Registers
With POS systems, you can revolutionize and transform your business operations. Time after time, the benefits and reasons to opt for a POS system have worked out for a wide range of businesses. Unlike conventional cash registers, POS systems can streamline your checkout process and help you drive more growth than you can imagine.
So, how are POS systems are better than cash registers? Let’s find out:
Even if you’re using an electronic cash register and a secure credit card terminal, consider adopting a robust point-of-sale system. The fact is that POS systems are far easier to navigate and manage than old school cash registers, which require some understanding of technical business processes and terms.
Many restaurants and retailers now use POS systems to offer loyalty programs and mobile order-taking. Around 60% of retailers now want to tap into omnichannel capabilities through POS systems. Similarly, more than 50% of businesses are planning to upgrade their existing POS system.
Top 10 Reasons POS Systems Stand out from Cash Registers
Wondering why are POS systems better than cash registers? Once you jump into this rabbit hole, you’ll find enough reasons to realize and recognize that they’re superior to traditional cash registers. While cash register systems are still functional, it makes more sense for businesses to adopt advanced POS systems.
Besides, modern point-of-sale systems have been evolving for the past decade and now can help businesses generate reports, review data in real-time, run sales analytics, track inventory, manage inventory, and streamline the checkout process.
Restaurants and retailers understand that there’s an added flexibility in using POS systems for their business. Remember, it’s not just about boosting sales – it’s about ensuring the long-term success and growth of your establishment.
Let’s dive into the top ten reasons that make POS systems superior to conventional cash register systems:
- High Accuracy
One of the reasons to adopt a POS system is to minimize manual human errors that impact sales. For perspective, understand that every POS system can scan thousands of characters based on the bar code instantly. Ordinarily, these errors continue to add up and cost businesses a significant chunk of money.
Point-of-sale systems truly shine when it comes to their top-notch accuracy. Restaurant managers now use POS systems to change prices instantly. POS systems store prices in a dedicated database so restaurants and retailers can retrieve the data with a single button or a scan.
- Multiple Payment Options
While cash is part of everyday business, it continues to get less and less popular every year. In fact, most people now prefer to use debit cards, credit cards, and contactless payments via their smartphones. The momentum around using smartwatches to make payments is also gaining.
The best thing about POS systems is that they can accept all these payment options, including checks. From a business perspective, implementing a POS system is the best way to expand and improve payment methods. It is a sure-fire approach to boost sales and influence customers to come back.
- Improved Communication
There is no reason for businesses to get stuck with traditional cash registers when they can take leverage POS system screen screens to communicate to customers. POS systems offer the most intuitive user interface and continue to revolutionize how customers take orders.
Most importantly, it cuts out the need for businesses to train staff throughout the year. With some programs, customers get the freedom to order food and beverages at the table or online and process the payment through a credit card at the same time.
- Automated Payments and Reduced Errors
POS systems feature navigational and understandable screens that automate total and reduce errors. With POS systems, it has become incredibly easy to split checks and tips. You can tabulate the totals in an instant. POS systems also eliminate the overdependence of customers on the staff to total their orders manually.
- Optimize Back-end Operations
One of the main reasons to opt for a POS system over a traditional cash register is that it optimizes your back-end operations. It creates a ripple effect and allows you to achieve business goals faster and drive unprecedented growth.
Whether it’s order notifications, employee performance reviews, or daily profit reports, POS systems bring simplicity to operations and allow business managers to be on top of everything. With POS systems, businesses can make more strategic and value-driven decisions.
For instance, restaurants can leverage POS systems to check meals that are and aren’t performing well. You can also review complete stock readings through a POS system. It works as an automated notification for restaurants to refill the stock and meet the rising demand and ensure high customer satisfaction.
- Improved Mobility
One of the main reasons for businesses to transition from cash registers to POS systems is to improve their mobility. POS systems are compatible with smart portable devices that make it easier for the staff to move around the restaurant. The latest POS systems feature ordering programs that are compatible with smart tablets and mobile devices.
And once a restaurant uses a compact mobile or table POS system, it can handle busy customers and process orders in the blink of an eye. Tableside ordering within the POS system also improves mobility and allows restaurants to process food orders faster and generate more revenue.
- Simplify Daily Operations
Unlike cash registers that complicate in-house business operations and involve information overstuffing, POS systems simplify and streamline information. For instance, if you use a POS system for your restaurant, wait staff can run checks faster, place orders quicker, update customers about menu changes in real-time, and auto-tabulate tips and delivery fees.
On top of servers, POS system programs work in favor of kitchen personnel to receive and prepare orders faster without waiting for the staff to manually input the order into a cash register. Consequently, it accelerates the process of taking orders and helps restaurants avoid order mistakes.
- Instant Customizations in Menu Items
Oftentimes, restaurants post their menus online, with food delivery, and inside the business premises. With POS systems, customers can directly access menus. It also allows restaurants to edit menu items on the go and showcase the right menu items at the right time.
It is an effective way to improve customer satisfaction, misunderstandings over the menu, and reduce turnover rate. Similarly, POS systems improve overall customer service. Restaurant managers can use POS systems to showcase their appreciation toward customers and maintain high satisfaction and engagement levels.
- Seamless Inventory Management and Tracking
One of the hallmark aspects of a POS system is that it helps businesses simplify their inventory management and tracking. The main reason point-of-sale systems have a significant edge over cash register systems comes down to their ability to track inventory with utmost precision.
POS system allows restaurants and retailers of all sizes to monitor their inventory and see how many items they’ve sold so far. Businesses can use their current inventory data to check patterns and make comparisons to better understand product movement.
- Reduced Risks of Theft and Fraud
POS systems make it possible for businesses to improve promotions and messaging. While cash register involves a high risk of theft, POS system helps businesses digitally secure the ordering process and payments. With a POS system, you can keep an eye on each food purchase and server in real time.
It allows you to pick up suspicious activity easily and make it impossible for fraudsters to steal information or money. POS system allows you to maintain tight inventory management and tracking, which ensures there is no food theft. What’s more is that modern POS systems are PCI compliant and offer protection against rising credit card theft.
You’d be surprised how a POS system can benefit different aspects of your enterprise. While it is no secret that point of sale system can work wonders for your checkout, it opens up new opportunities and gives businesses more room to grow over time.
Whether it’s personalized menus, heightened customer engagement, multiple delivery options, or tipping and split check options, the food service industry has come a long way. In fact, customers can now even order food and drinks from their table through a tableside ordering system that ties together with a point-of-sale system.
Restaurant and hotel managers affirm that POS systems have become essential to make payment processing simple and reduce common mistakes. No matter how complex inventory you have – POS systems make your inventory management easier. The more you think about it – the quicker you’ll realize that moving from cash registers to a point-of-sale system can help you run seamless business operations.