In our present culture, opening a new restaurant can be a challenging task. A restaurant operator has to be several things all at once: a business analyst, a manager of people and stock, a financier, and much more.
In our Restaurant POS Guide, we discuss that 60 percent of restaurants fail within their first year. One of thebalancesmb.com’s record of 10 Reasons Restaurants Fail are customer support, bad accounting practices, and mismanagement of work and inventory.
The Condition of POS in the Market
As we enter 2019, the single most powerful element to the development and invention of restaurant point of sale technology is the customer. Like never before, guest experience and client expectations are shaping how restaurants are utilizing their POS systems to most effectively run their operations.
What was once a bulky, black box which sat ominously on a restaurant counter top, the point of sale has become synonymous with the purpose of service. It’s now predicted to be the solution for any frustrations a guest might potentially have throughout their dining experience. Hospitality Tech says,”The next-generation point of sale has been shaped by the telephone for the POS to be all things for all people.”
With this sort of demand heavily placed upon both restaurant owners and technology providers alike, all parties need to strategize and act fast to prepare for the present condition of the marketplace. Restaurant operators are taking the reins and getting more involved in the choice of technology, as more than 50 percent of them are analyzing and exploring new point of sale solutions for 2019 and beyond.
Since the point of sale has been deeply driven by the requirement of customers themselves, using data to understand customer behaviors and customs, then building customized buyer’s personas to base marketing initiatives off is crucial for operators. Technology providers must find a way to aggregate this information and provide innovative ways to present it to restaurants.
In 2019, the POS will function as the proverbial”centre of the world” for restaurants. Adapting to present trends will be essential for the survival of brands.
Say goodbye to heritage and hello to the cloud
Cloud based POS solutions are flexible, cost effective, and simple to implement, compared to traditional legacy POS systems, which can be costly to upgrade and outdated. Switching to the cloud when picking a new POS system is an efficient way to keep customers engaged and connected, and to eliminate the possibility of failing to meet industry standards and regulations, or failure to become compliant.
These cloud POS solutions are flexible, valuable, and valuable in a large number of ways, and their implementation will enable your restaurant to grow to meet customer expectations and market requirements. With the adoption of this cloud, business owners are able to align their brand with achievement by encouraging additional conveniences for customers to make the most of- such as curbside takeout, customer loyalty programs, online ordering, text message ordering, in-store tablets, kiosk ordering, line breaking, and cover at table apparatus to name a few. It’s time to bid farewell to your legacy systems and upgrade your brand with cloud based software solutions.
Among the top advantages of implementing cloud-based POS applications in your business is the immense scalability and adaptability of the software itself-meaning it readily supports the growing needs of customers and the current market, allowing your organization to keep up with competitors, and render clients satisfied with a desire to return.
On assumption vs. Cloud Software
- Cloud-based software is hosted on the vendor’s servers and accessed via a Web browser.
- On-premise program is set up locally, on a organization’s own servers and computers.
Another essential difference between cloud and on-premise solutions is the way they’re priced. Generally speaking, cloud software is priced under a monthly or yearly subscription basis, understands as SaaS, and typically contains automatic bug fixes and updates.
On-premise software is usually priced below a one-time perpetual license fee, typically depending on the size of their organization or the amount of concurrent users. There are recurring charges for training, support and upgrades.
Quite often, on-premise systems are considered a capital expenditure, which is one big investment up front. Cloud-based systems, on the other hand, are usually considered an operating expenditure, which is regarded as an additional overhead cost the company will continue to cover.
The low entry cost of cloud-based applications –in comparison with hefty, upfront perpetual license fees–has led to its widespread adoption.
According to Forbes,”cloud computing is estimated to grow to $162 billion by 2020, based on data from Salesforce. These projections are vastly because of companies understanding the extra significance that SaaS, PaaS and IaaS bring to the table so far as daily business activity in the current rapidly changing ecosystem.”
While we find that a number of associations are still in tire-kicker mode, the early adopters are already enjoying the business benefits of agility and innovation:
- Steady Cadence of New Features
- New Models provide accessibility to New Features as the Market Changes
- Software Updates are Deployed Automatically
- Payment Technologies
- Analytics (Big Data)
- Streamlined User Interfaces
- Specialized Workflows
- API Integrations Cloud POS supports business goals like innovation, access to experience in a large ecosystem and business integration. Cloud POS helps multi-unit enterprises maintain consistency, aligning priorities, strategies, and practices across a dispersed field business. The Software as a Service (SaaS) business model enables operators to support common operational practices and provide a uniform customer experience.
►►► ConnectPOS is a cloud-based POS software compatible with multiple platforms including Magento, Shopify & Shopify Plus, and BigCommerce.
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