what is pos
Oracle Restaurant POS

 

What is POS?

Point-of-sale systems (POS) enable transactions and include the operational functionality that enhances the guest experience and streamlines business operations.

 

Point of Sale is Now Point of Service

Traditionally, the POS system is where a customer makes a payment in exchange for goods or services. Payment terminals, touch screens, and a variety of other hardware and software options are used to enable the transaction.

Restaurant POS

Today, however, the point of sale is often referred to as the point of service, given that POS is no longer just about processing sales. Modern POS systems are at the heart of food and beverage operations large and small, helping to enhance the customer experience and streamline business operations.

POS systems allow food and beverage operators to process orders and maintain financial control of their business, through cash management and integration with payment service providers.

As margins get tighter, however, successful operators need POS to do much more. An integrated POS system offers:

Learn more about Oracle Hospitality Restaurant Point of Sale Systems

The Importance of POS Systems

POS systems are essential to food and beverage operators who want to deliver a fantastic guest experience, keep control of their costs, and grow their revenues and overall profitability. The right POS system should deliver the following to a food and beverage operator:

POS Feature

POS Benefit

  • The perfect guest experience

    • Every food and beverage operation is unique. Guests have high expectations of the service that you will provide, or they won't return.
    • The right POS system allows you to hone the perfect experience for your guests and keeps your operation running smoothly to maximize satisfaction and repeat business.
    • Combining mobile tablets with an intuitive POS interface, for example, will ensure that you achieve optimum speeds in quick service or fast casual enterprises.
  • Centralized control of menus and promotions

    • To deliver a great guest experience across a number of restaurants, you need to keep menus, prices, and promotions consistent.
    • To keep costs to down you also need to minimize the amount of work needed to add new menu items or promotions.
    • With a centralized cloud POS system, you can set up menu items or change prices once and then roll those out to all of your stores. You should also be able to maintain localized pricing and menus where appropriate.
  • Kitchen systems to maximize food quality and accuracy

    • Integrate orders. Track kitchen performance. Page staff. Oracle Hospitality Kitchen Display Systems execute all these tasks and more in real time, keeping vital information flowing throughout restaurant operations.
    • Intuitive, graphical displays, which can be mounted in kitchens or preparation areas, improve kitchen efficiency, enhance food quality, increase speed of service, and reduce errors.
  • Data to help you make and save money

    • Your POS system contains details of every transaction, which makes it the most important tool within your business.
    • A centralized Reporting and Analytics solution allows you to get value from that data. Food waste, and over-staffing, theft are costs that can kill your business.
    • By giving the right people access to the data, you can spot areas of loss and eliminate them.
  • Loyalty to maximize revenues

    • Sixty-five percent of US consumers are members of at least one food and beverage loyalty program.
    • The right POS system will provide a Gift and Loyalty solution that allows you to take advantage of the benefits of loyalty programs.
    • You can increase visits, reward your customers, run targeted marketing promotions, personalize the guest experience, and gather data on your guest preferences and behaviors.
  • New concepts and channels to increase revenues

    • As you grow, you may want to increase revenues by evolving from a table service operation and adding a deli or a takeout service.
    • The right POS system will allow you to do that.
  • Mobility

    • Mobile technology is redefining service in hospitality.
    • From providing staff with mobile tablets to take orders and speed up service times, to accepting mobile orders direct from guests and allowing your managers to access mobile reporting on smartphones, your POS system must be mobile.

 

Selecting the Right POS System

Choosing the right POS system is critical to the smooth running of your restaurant. It pays to understand exactly what you do need, and what you don't need.

So how do you select the right one? The 2016 Smart Decision Guide to Restaurant Management and POS Systems provides the information you need to find the POS that suits your business. This research report, conducted by Starfleet and sponsored by Oracle Hospitality, provides a checklist to use when evaluating POS, a list of must-ask questions for vendors, a roadmap for buying decisions, and valuable insights from industry insiders and experts.

Get help selecting the right POS

Deploying POS Systems

Until recently, POS systems were often managed on premises. On-premises solutions require a lot of upfront investment, including expensive computer servers to run the system, and they can also be costly to maintain on an ongoing basis. Resources are needed to manage the software updates, upgrades, and security patches that need to be scheduled and installed manually by onsite staff.

Cloud-based, mobile-enabled POS platforms provide the modern solution for food and beverage operators to manage their technology. Food and beverage operators who have adopted a cloud-based POS system have enjoyed benefits such as:

  • Faster innovation: With cloud-based POS, you can bring new properties online more quickly. Each new release brings new capabilities to help you deliver great customer experiences, improve operating efficiency, and increase employee productivity.
  • Lower IT complexity and costs: Cloud-based POS enables you to lower upfront capital expenditure on software and hardware. In addition, updates, upgrades, and patches are done automatically, reducing IT costs and complexity.
  • Create exceptional guest experiences: With cloud-based POS, you can implement innovative engagement, reward, and recognition strategies and provide customer experiences that build brand loyalty.
  • Increased security: Oracle Cloud POS gives you the benefit of millions of dollars of investment in secure hardware and software, helping to protect your guests and your business from hackers.

Learn about the benefits of cloud-based POS

Trends Influencing POS

  • Cloud technology: The move to cloud is well underway for food and beverage operators. Moving to cloud enables you to take advantage of all of the benefits of paying only for the technology that you use, while saving money by centralizing your administration and remaining innovative when new features and payment methods emerge.
  • Data security: In the digital age, security is more important than ever. Data breaches can have a devastating impact on brands.
  • Data analytics: Many operators are grappling with big data and working out what to do with the vast amounts of information that they have. The successful food and beverage operators will be those who can access the right data in the right formats to identify ways of cutting costs and maximizing revenues.
  • Mobility: Mobile technology is redefining the way that service is delivered in food and beverage operations. From staff-facing tablets to guest-facing smartphone apps, operators need to provide the right services to accommodate changing guest expectations.
  • Loyalty: The millennial generation expects a frictionless guest experience that is personalized without them knowing it. Loyalty programs offers a great insight into guest behavior and preferences, allowing you to deliver better service and increase revenues.
  • Omnichannel: Consumers want to have choices when it comes to the way they order and pay for food and drinks. Brands need to consider the various third-party payment systems available and understand what their customers want.
  • Customer engagement: Using technology to engage with customers in innovative ways offers unique opportunities for brands to stay ahead of the pack.
what is a point of sales system
Advantages of Simphony Cloud POS

Food and beverage operators need a technology platform to engage guests and staff. Simphony POS delivers mobility, loyalty, inventory, labor management, kitchen management, reporting, and loss prevention on one centralized, cloud platform.

 


Get Started