POS systems (Point of Sale, also referred to as EPOS) are part of the critical architecture for almost all hospitality venues. They are used for a variety of tasks, including: processing card transactions, assisting with inventory management, collecting data and helping to coordinate front-of-house and back-of-house operations.
With industry experts predicting that the UK restaurant market will grow by 59% across 2022 it is more important than ever to connect your systems and stay ahead of the growing competition. Deploying a deep, two way integration can give you valuable insights into the habits of your diners. This data can then be used to make crucial, data-driven, decisions that have a direct influence on your operation such as; diner food preferences, their spending habits, and what sort of promotional offers they respond to. The bottom line is that there’s never been a better time to invest in, and connect, your POS and TMS systems.
The benefits of a two-way integrated between a POS and table management systems for hospitality venues can be significant. As per Oracle Micros and Tevalis (two POS systems that can be integrated with ResDiary) The data that’s automatically and accurately inputted through these systems can help staff to manage bookings and walk-ins, maximise covers, offer marketing programs and improve service in line with customer information.
There’s a variety of POS systems which offer different features, price points and benefits for hospitality venues, and ResDiary integrates with many of them. Here’s a primer on what POS systems are, why they can be important for hospitality venues, and some of their uses.
Processing card transactions
With credit cards typically used over cash, a core function for any Point of Sale technology is the processing of digital transactions. POS systems compute the cost of a number of items – for example, the cost of a drink, burger and chips – and, with the tap of a credit card, the transaction between buyer and seller can be made.
A digital or physical receipt can then be printed and the inventory for that particular item is updated to reflect the transaction. This is neatly illustrated on Square, which is integrated in ResDiary Lite.
The process is relatively quick, easy and removes the human error that may be involved in working out what was ordered, calculating costs and – if cash is used – organising the correct amount of change. Depending on the program, POS systems can be connected to tablets so payments can be processed anywhere in the venue. Some POS systems also offer flexible forms of payment, including split bills.
Reporting and analytical tool
Some POS systems provide businesses with real-time data and reports covering a range of preferences and decisions made by customers. SumUp, another ResDiary integration, offers access to a wide range of reports, including (but not limited to): turnover, profit margins and how to identify best sellers with ease. You’ll also be able to keep your inventory in check and avoid over or under-stocking with our real-time reporting feature to help you react instantly to dynamic stock movements. All designed to give you a deeper insight into your operation, at a glance.
A useful feature that’s incorporated in certain POS systems (such as Bleep) is online orders for delivery, takeaway or eat-in. Bleep excels in providing bespoke, innovative EPOS systems designed specifically for the fast service industry, such as fast food outlets, sandwich shops, bakeries, butchers and delicatessens.
The features offered by connecting a POS system to a table management service like ResDiary may vary depending on the software at hand. Before settling on a POS system, conduct research, and find the one that is most suitable for your hospitality venue. To find out more, consider booking a personalised demo for your venue.
Want to find out more about connecting ResDiary and your POS systems?Talk to our Team
Disclaimer: This guide is general in nature and does not take into account your individual circumstances. Before acting on any information, you should consider whether this is right for your business.