on 07 December 16
Managing the operations of restaurants and bars is growing more and more complex due to the high volume of transactions using cash and credit cards. A computerized restaurant management system is therefore a necessity to manage the operations in an efficient manner that helps business to increase profitability and enhances the quality of customer services. The restaurant management software also known as Point of Sale software provides an end to end solution in managing restaurant and bar operations. In the broader perspective the software helps to track cash flow, monitor sales, manages food inventory and also simplifies the back end book keeping processes. The bar management software is used for the same purpose but exclusively for bars serving liquors only.
Features of the software
Hundreds of food items and a wide range of liquors that are handled by the restaurants are source of enormous data generation that has to be managed efficiently to identify wastage, theft and other losses. The scope of the software is not just limited to inventory tracking but it encompasses other operational aspects like order purchasing, menu sales analysis, recipe costing, forecasting and many other operating parameters. The main features of the software are:
- Recipe Management
- Inventory Management
- Order and delivery management
- Promotions and customer response management (CRM)
When you are out to buy POS software, the first thing that strikes you is what kind of software to buy. A restaurant that serves food and liquor should opt for the Restaurant Management Software that has the features to manage both. But for managing the operations of a bar that does not handle food items, the bar management software is ideally suited.
Price scheduling is a special feature of this software because liquor prices can fluctuate every hour or at any time during the day. Seasons also impact liquor prices and capturing the changes promptly is essential for efficient bar management.
The accounting feature is common to both the software and includes the standard features of accounts receivable, payable and general ledger. Both software uses CRM features to reach out to the customers through the social media or SMS and email and to facilitate payouts at the end of the day tip tracking and time tracking are also included.
Trends in POS software
The changing mind set of customers that is more inclined to mobile devices has influenced the POS software too. The static POS terminals are on its way out. The majority of the restaurant operators want to go for the mobile POS that would include new payment options. Integration of the software with mobile devices is being preferred by many software users and taking it a step further integration of the system with mobile wallets is also being sought.
Looking at customer ease, ordering and payment from table side POS is being preferred .The CRM feature of the software is getting much more important for restaurant operators who now want to extend guest promotions that are more personalized.
Restaurants with multiple operating units are seeking access to POS data that is centralized and even some would prefer cloud based software.
Benefits of Restaurant POS software
- Smooth payment transactions - The POS software handles processing of payment made with debit and credit cards that was being done by using some other peripherals. The payment process becomes easier, faster and of course more secured.
- Monitoring and tracking sales - The high number of cash and credit card transactions in the restaurants are monitored and tracked with utmost precision. The sales trends of items are easily identified thereby enabling the restaurant operator to make suitable adjustments in menu to boost sales.
- Secured software - Data processed by the servers are highly protected and cannot be altered except by authorized persons using passwords. This prevents unwarranted discounts being offered by the staff to their known persons and controls theft by employees.
- Easy accounting - Accounting statements are prepared very quickly as the data is readily available for assimilation by the system.
- Inventory control - Inventories are tracked precisely for food usage raw materials. The inventory reports give the usage pattern of items that improves purchase efficiencies by avoiding over purchasing and ensures that shortages are avoided.
- Payroll preparation - The POS system can be used for recording employee attendance and it facilitates generation of the payroll, thereby saving the cost of getting it done separately.
- Optimizing human resources - The staff involved in restaurant operations are relieved from doing many tasks that are done by the software. This manpower can be better utilized for other purposes to increase productivity.
Restaurants and bars can now use the POS software to reach its full potential both in terms of operating profits and customer satisfaction. Regardless of the size of operations, Restaurant Management Software is gradually becoming an indispensable tool in restaurant management.
There are many software available, the fact is to understand that what software type will satisfy your business need and select the software accordingly. Before taking decision you can go through the list of top restaurant management software and get software comparisons & reviews at Software Suggest or you can talk to software experts at SoftwareSuggest.com for the right software suggestion.
This blog is listed under Data & Information Management Community