Updated: Jun 8
As a restaurant owner, you must embrace technological changes to remain competitive. Operating manually comes with its fair share of problems. With the rush to keep up with orders, there’s a possibility of reporting errors, such as unrecorded sales.
You can easily avoid these issues by accurately collecting and recording your data using the best POS Systems. The top five in the market are Touch bistro, Toast, Aloha, Ls retail, and Square. Before analyzing their features, let’s cover some bit of background information.
What is a POS System?
A Point Of Sale System refers to the hardware and software that allows you to accept payments, monitor sales, track cash flow, and maintain food inventory. It significantly simplifies bookkeeping. For a restaurant, the POS system also helps in coordinating with remote customers placing orders using mobile devices. Depending on the nature of your business, customers can check out online or physically at the counter.
What Does a POS System Include?
A POS System includes the following software and hardware components:
The cash register comprises a cash drawer, receipt printer, barcode scanner, and credit card reader.
Integrated ordering and payment system for accepting credit cards.
Software features include sales reporting, inventory, order, customer, and employee management.
Electronic signature capture device.
Pin pad reader.
With the touch screen technology, a keyboard and mouse are unnecessary.
Tip: Consider the points below when choosing a POS system for your restaurant.
What are the Different Types of POS?
On-Site POS System
Mobile POS Systems
Cloud-based POS Systems
Open Source POS Systems
Self-service Kiosk POS Systems
What is the Best Restaurant POS system?
Here are the top five restaurant POS Systems for your restaurant.
TouchBistro was developed in 2010 in Toronto by Alex Barrett. It enables you to monitor all your restaurant’s operations using an iPad. It’s locally installed; therefore, you don’t require an internet connection. Its outstanding features include:
Digital menu management
Payroll and staff management software
Table mappingLoyalty programs
Table mapping and ordering
A display system facing the customers
Reservation system and online ordering
Steve Fredette, Aman Narang, and Jonathan Grimm invented Toast in 2012 in Massachusetts. It is android-based and works on a tablet. Here are its top features:
Top-notch hardware components
Delivery and Online ordering integrations
Loyalty and gift card programs
Advanced cloud-based reporting and staff management system
James Ritty developed the first cash register in 1879. John H Patterson bought the company after developing an interest in it. He produced 10 million more, and the business has since expanded to accommodate modern demands. It’s now an easily set up cloud-enabled technology.
The key features include:
Streamlined payment processing
Advanced table service options
Offline kitchen management
4. Ls retail
Ls retail dates back to 1996 when Thomas Lundgren desired some change in restaurant management. It’s a Microsoft dynamic system with excellent features. You can monitor transactions on sales channels and mobile applications. You’ll surely like the following features:
Available retail accounting options
Customer and warehouse management
Mobile support systems
Advanced inventory management integrations
5. Square POS
Jack Dorsey and Jim McKelvey invented the software in 2009. It’s available on an iPad or a square register with a customer display and card reader. Its main features are:
A kitchen display system
Discount options and sales reports
Tipping and fast order integrations
User-friendly with course management.
What are the Expected Costs of a POS System for Restaurants?
Acquiring a complete POS solution comprises different costs. For the hardware, you make a one-time fixed purchase of up to $1,700. The approximate figure for recurring software costs is $300 per month.
Installation costs can be approximately $100/hour for on-premises, $75/hour for remote, and $400 for complete menu installation. Note that these figures are only market averages, given that they vary widely from brand to brand .
What is PCI Compliance?
PCI stands for Payment Card Industry. PCI compliance refers to the standard security measures that any business processing, storing, or transmitting credit card data should comply with.
Typical guidelines include:
Restricted access to confidential information
Mandatory use of antivirus software
Regular testing of your security systems
Before acquiring any POS terminal, make sure you ask the vendors whether it’s PCI compliant. Otherwise, you may get into legal tussles in case your customers’ data leaks.
What is the most affordable POS system for restaurants?
Out of the best five mentioned above, Square is the most affordable POS. It comes with a free plan, with which you can handle most ordering and payment tasks.
How to Choose a POS System
Consider these tips when choosing a POS system for your restaurant:
Business needs: Your choice must correspond to the needs of your business.
Budget: You’d want an affordable system that’s within your budget, as long as it meets your requirements.
Hardware components: Choose robust hardware components that are durable.
Software features: The top features to look for in a restaurant POS software include:
Payment Processing: Choose a system that allows quick checkouts with customer-friendly payment methods.
Contactless Ordering: Your design should allow online buyers to view the menu, choose a meal, and complete a POS transaction.
Robust Inventory Management: You’d want a system with outstanding integrations to keep track of available stock or profit margins.
Agile Reporting Capabilities: Ensure your POS system is able to generate comprehensive reports regularly.
Is a POS System Worth the Investment?
A POS System is certainly worth the investment in this digitized business world we live in. Adopting these systems saves you time and increases sales. It also helps you achieve higher customer satisfaction, thus ensuring you remain competitive.
Set up Your Restaurant for Success
From the above discussion, you agree it’s critical to have an appropriate POS System for your restaurant. Start shopping for one by considering the software and hardware features highlighted above, as well as costs. You can contact reliable POS vendors to help you out. Ultimately, you’ll transform your restaurant into an efficient, fast-moving one, and customers will love you for that.