Electronic point-of-sale (POS) systems have become even smarter in recent years, with capabilities and features to help hospitality businesses run efficiently and prepare for the future.
Just a few years ago, the POS terminal’s job was to simply process transactions and take payments. Now, the hospitality industry can access multi-channel-driven EPOS systems that help run their business and gather valuable insights.
Whether you run a bar, restaurant, hotel, cafe, or takeaway, smart EPOS solutions can help you save time and satisfy your customers by managing table turnover, integrating with promotions and customer loyalty programs, increasing customer service efficiency, and assisting with further business operations such as accounting.
This article will explore how smart EPOS solutions can help future-proof the hospitality industry.
6 Ways Smart EPOS Solutions Can Help Hospitality Businesses
Table management
Many POS systems enable you to better manage table turnover by showing table plans, some even across multiple levels if your restaurant has separate floors.
In addition, you can track time-at-table to better maximise cover capacity. This allows you to predict the number of guests you are able to serve in one day based on how long guests stay at the table.
Customer loyalty
A customer loyalty program allows guests to receive discounts or points to use at your hospitality business, boosting the likelihood of serving repeat customers.
You can use your hospitality POS to drive customer loyalty by integrating it with promotions and your customer relationship management (CRM) software. You can also integrate your POS system with your promotions, such as buy one get one free, discounts, happy hours, and more.
Deliver better and quicker customer service
Customer orders and payments can be taken on a handheld device or at a terminal connected to your smart EPOS solution.
With menu items programmed into the system, the customer’s order will be sent directly to the kitchen or bar, delivering a better and more efficient service. This minimises the need for writing orders on paper and running to the kitchen or bar.
In addition, EPOS systems can be used to calculate bills and take payments, further reducing the likelihood of human errors and increasing the efficiency of the service.
By providing a more efficient and accurate service, customers are more likely to leave satisfied and return in the future, ultimately improving your hospitality business’s reputation and profitability.
Keep up to date with payment methods
One-third of adults in the UK now use mobile contactless payments. As payment methods and mobile devices evolve, businesses need an adaptable, tech-based solution that will allow them to keep up with the times.
Luckily, a smart EPOS solution will enable your business to support all contactless payments, including mobile wallets such as Apple Pay and Google Pay. Supporting more contactless payment options simplifies the payment process for your guests and allows them to pay using a method that suits their needs, enhancing the customer experience.
Helps with forecasting
Forecasting is the key to future-proofing your business. It allows you to anticipate the future and
develop a plan that leads to increased profitability and a more successful business plan.
Luckily, a smart EPOS system can help hospitality businesses identify historical trends and make predictions about future demand by collecting and analysing real-time data.
Forecasting allows hospitality business owners to make more informed decisions about everything, including staffing levels, inventory management, menu planning, and promotions and events.
Stock management
Smart EPOS solutions can also increase profitability for hospitality businesses by improving operations through efficient stock management.
The system allows business owners to monitor stock levels, enabling them to reorder or cancel orders in a timely manner. This leads to fewer items being out of stock, resulting in happier customers.
In addition, smart EPOS solutions help minimise stock wastage by allowing business owners to see which items are not selling well and make informed decisions about what to keep on the menu. Business owners can also upsell products or services that are not selling well through promotions, preventing waste.
Ready To Future-Proof Your Hospitality Business?
While a smart EPOS solution can future-proof your hospitality business, it’s essential to understand that leveraging this technology requires a larger budget and enhanced staff training. Find a smart EPOS solution that is easy to use and fits your budget requirements.