In our current culture, opening a new restaurant can be a daunting task. A restaurant operator needs to be several things all at once: a business analyst, a manager of people and inventory, a financier, and more.
In our Restaurant POS Guide, we share that 60% of restaurants fail within their first year. Among thebalancesmb.com’s list of 10 Reasons Restaurants Fail are customer service, poor accounting practices, and mismanagement of labor and inventory.
Luckily, many of these challenges can be overcome by the selection and effective implementation of a high-quality restaurant point of sale system.
The State of POS in the Marketplace
As we enter 2019, the single most influential factor to the evolution and innovation of restaurant point of sale technology is the consumer. Like never before, guest experience and customer expectations are shaping how restaurants are using their POS systems to most efficiently run their operations.
What was once a bulky, black box that sat ominously on a restaurant counter top, the point of sale has now become synonymous with the point of service. It is now expected to be the solution for any frustrations a guest could potentially have during their dining experience. Hospitality Tech states, “The next-generation point of sale is being shaped by the call for the POS to be all things for all people.”
With this type of demand heavily placed upon both restaurant owners and technology providers alike, all parties must strategize and act quickly to prepare for the current state of the marketplace. Restaurant operators are taking the reins and becoming more involved in the selection of technology, as more than 50% of them are testing and researching new point of sale solutions for 2019 and beyond.
Since the point of sale is being deeply driven by the need of consumers themselves, utilizing data to understand customer behaviors and habits, then building customized buyer’s personas to base marketing initiatives off is vital for operators. Technology providers must find a way to aggregate this data and offer innovative ways to present it to restaurants.
In 2019, the POS will act as the proverbial “center of the universe” for restaurants. Adapting to current trends will be essential for the survival of brands.
Cloud based POS solutions are adaptable, cost effective, and easy to implement, in comparison to traditional legacy POS systems, which are costly to update and outdated. Switching to the cloud when choosing a new POS system is an effective way to keep customers connected and engaged, as well as to eliminate the risk of failing to meet industry standards and regulations, or failure to be compliant.
These cloud POS solutions are flexible, valuable, and beneficial in a multitude of ways, and their implementation will allow your restaurant to rise to meet consumer expectations and market demands. With the adoption of the cloud, business owners can align their brand with success by promoting additional conveniences for consumers to take advantage of- such as curbside takeout, customer loyalty programs, online ordering, text message ordering, in-store tablets, kiosk ordering, line busting, and pay at table devices to name a few. It’s time to say goodbye to your legacy systems and update your brand with cloud based software solutions.
One of the leading benefits of implementing cloud-based POS software into your business is the immense scalability and adaptability of the software itself-meaning it easily supports the evolving needs of consumers and the market, allowing your business to keep up with competitors, and leave customers satisfied with a desire to return.
On premise vs. Cloud Software
- Cloud-based software is hosted on the vendor’s servers and accessed through a Web browser.
- On-premise software is installed locally, on a company’s own computers and servers.
Another key difference between cloud and on-premise solutions is how they are priced. In general, cloud software is priced under a monthly or annual subscription basis, knows as SaaS, and typically includes automatic bug fixes and upgrades.
On-premise software is generally priced under a one-time perpetual license fee, typically based on the size of the organization or the number of concurrent users. There are recurring fees for support, training and updates.
Often times, on-premise systems are considered a capital expenditure, which is one large investment up front. Cloud-based systems, on the other hand, are typically considered an operating expenditure, which is considered an additional overhead cost the organization will continue to pay.
The low entry cost of cloud-based software—compared with hefty, upfront perpetual license fees—has contributed to its widespread adoption.
According to Forbes, “cloud computing is projected to increase to $162 billion by 2020, according to data from Salesforce. These projections are vastly due to businesses understanding the added value that SaaS, PaaS and IaaS bring to the table as far as day-to-day business activity in today’s rapidly changing ecosystem.”
Cloud POS architecture provides the ability to move a variety of types of data, to move data bi-directionally and move data in near real time.
While we find that some multi-unit organizations are still in tire-kicker mode, the early adopters are already enjoying the business benefits of agility and innovation:
- Steady Cadence of New Features
- New Versions provide access to New Features as the Market Changes
- Software Updates are Deployed Automatically
- Payment Technologies
- Analytics (Big Data)
- Streamlined User Interfaces
- Specialized Workflows
- API IntegrationsCloud POS supports business goals such as innovation, access to expertise in a large ecosystem and enterprise integration. Cloud POS helps multi-unit enterprises maintain consistency, aligning priorities, plans, and practices across a dispersed field organization. The Software as a Service (SaaS) business model enables operators to support common operational practices and deliver a uniform customer experience.
PAR Brink POS Cloud-Based Software
PAR Brink POS Software is unique and distinguishable by its contemporary Cloud-based POS architecture with fully integrated online and mobile ordering capabilities. It is modern, has loyalty at its core, and its architecture and feature set are designed to meet your technology needs today, while embracing innovation to meet your future business requirements.
With Brink POS software, your brand will be prepared to quickly implement the latest technology your customers expect.