Strategy to Drive Your POS Performance

It’s almost the end of the first quarter of 2015, and what better time to analyze your Point-of-Sale (POS) system’s performance to see where improvement is needed. Whether your fiscal year has just begun, ends in May, October or any other time in 2015, there is no time like the present to analyze how to improve your operations. Creating and implementing a strategy for your POS that will be viable for longer than the calendar year and strong to encourage growth for the business is crucial. With that in mind, here are some steps that should be included in any strategy or planning for your POS in 2015:

1. Expand your payment options
This is not just as simple as adding more registers or kiosks for your staff and/or customers, but rather embracing emerging technologies in an on-demand world. Consumers have a need for immediacy, they want what they want, they want it when and where they want it, and they want whoever they’re purchasing goods, services, et al, from to give them flexible options for how they pay for these same goods or services. Aside from accepting payments at a traditional counter and cash register, or with a handoff to a waiter or waitress, many operators are looking in to self-checkout kiosks, equipping employees with tablet or other mobile device POS options so that transactions can be handled table-side.

One of the main pieces of strategy for this year for an operator could be moving towards a payment scenario in which customers are allowed to make payments from mobile devices, using smartphone applications like Apple Pay or Google Wallet.

2. Infrastructure Planning
Maintaining your business’ infrastructure of stationary POS systems in addition to mobile units is not just a safe choice, but a smart one. It never serves a business to eliminate completely any form of technology or hardware, oftentimes operators do this an are left with no options when say, the WiFi that manages all of the tablet POS goes down. Operators cannot afford to have their POS go down at any time, and by eliminating stationary POS systems in the name of mobility, this could be detrimental to the business.

The reality is that mobile POS technology should never replace stationary POS technology, but they should be working in tandem for the business. For many operators, stationary POS systems still provide functionality that many tablet-based systems cannot, and the stationary systems even have the advantage to be used as digital signage within the business.

3. Scalability
No restaurant operator operates under the mindset that they don’t want their business to grow. So why would you then purchase the minimum amount of product needed for your POS system? If you plan to expand your business, it is vital that when shopping for a POS system you look for an option that has scalability to your business model and plans. If you invest heavily in a system that does not have what you need, not only have you lost money on your investment in the system, but you’re now forced to go shopping once again for a POS system that can do what you need it to as your business grows.

It is evident even this early into the year that 2015 is the year for POS strategies to move towards mobile payments and varied payment options. With the marketplace moving in the direction of these two solutions, the sooner that restaurant operators move to formulate strategy for implementation of said solutions, the better. By formulating a strategy and ensuring that the tips listed above are included in the plan, the more likely it is that your business will continue to grow past 2015.