Point-of-sale (POS) systems are central to your restaurant’s operation. Since POS systems are such a key piece of technology, it is worth taking some time to think through the following when deciding on a POS system provider.
Pen down all the requirements your POS system should have
As with a purchase of any piece of technology, start by writing down all your requirements you can think of. Think of it as an informal procurement brief or checklist that will guide you in assessing your options fairly.
As a new restaurant, start by checking if your landlord has any requirements on the POS system that you use. This is especially common when there is a Gross Turnover (GTO) component to your lease.
While other aspects of your business are still a work in progress, start by drafting up other contingencies that may impact the requirements for your POS system. These include the complexity of your menu, the number of POS terminals you want, whether or not you would like mobile ordering, and the style of payment service (pay-at-the-counter or tableside payment). While these may change, an idea of these will also shape the discussions you have with POS salespersons.
Finally, it is not too early to think about the kind of reports you’d like your POS system to generate. Reports are important to guide decision-making for your business. However, as a growing business, you may not want to over-invest in a POS system just because of its ability to generate all sorts of reports that you may not have time to digest.
Budget for your POS system
Most POS systems these days operate on a software-as-a-service (or SaaS) basis, where the software is licensed on a subscription basis. This means that costs for your POS system are likely recurring on a monthly basis. Costs for SaaS POS systems can range quite widely from $0 – 500 monthly, so working within a budget would help. Ideally, your selected system would also allow you to start with a simpler plan and tier up or add on later as your needs become clearer.
Your government may issue grants for adopting technology so it is worth enquiring with the right parties if they do. In Singapore for example. The Productivity Solutions Grant is available for a category of solutions called “Digital/ Online Ordering and Payment” that will allow you to choose from a few POS systems and enjoy 80% off subscription costs for one-year if you are eligible.
Consider integrating other systems with your POS system
As advised by an expert industry panel, any piece of restaurant technology is best utilised when it is well integrated within an ecosystem of other technologies that your business employs. This applies to your POS system as well.
Besides playing a big role in each and every transaction at your restaurant, the data generated by your POS system will go a long way in advising other aspects of your business such as Marketing and Operations. An integration between Chope and your POS system, for example, can enrich the information you record about diners with lifetime spend and order history. Doing so builds the knowledge you have of each diner, enabling you to conduct targeted marketing and provide personalised service.
Chope’s integration with selected POS systems displays surfaces order history as well as customer-spend across platforms, empowering marketing and front-of-house teams.
Even after you’ve considered all of the above and have landed on one POS system for your new restaurant, remember that you should reevaluate your decision from time to time as the needs of your business changes.
Keen to find out more about Chope’s table management and CRM integrations with POS systems? Get in touch and we will be happy to share more.