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  The restaurant industry has been going through a spate of changes from kerbside pickups to robotic chats to smart kitchen appliances. Consumer habits have also shifted simultaneously as technology-enabled businesses accelerate change and keep up with the latest trends. There are several ways that technology helped shape the present and the future of the restaurant industry. POS SYSTEM - MOVING BEYOND THE BRICK AND MORTAR The concept of the restaurant has moved beyond the four walls. Three out of five consumers order takeout or deliveries once a week. Two out of five say that they get meal kits so that they can prepare food instantly at home, just the way a restaurant would make it for them. Experiences are important for consumers today, as they combine them with the excitement of eating out and the convenience of staying indoors. Technology is thus allowing restaurants to shift away from their traditional four-walled communities to meet greater demands of the consumer. Modern-day...

  Today, markets are more hypersensitive than ever. Post pandemic, everyone is trying to grab the entire loaf of bread instead of just their portions. In the midst of economic downturns, and copy-cat entrepreneurs, keeping the customer happy is extremely important. Whilst clients are overly pampered in the name of personalisation, there must be a way to ensure that your restaurant stays afloat and does not succumb to pressure from competitors. Voice of Customer is a unique model that helps business owners gather feedback, opinions and reviews in general, of the service so that you can learn and turn the tables around for your operations. A restaurant PoS system is what it takes to make the customer’s voice heard. WHY IS VOC IMPORTANT? Voice of the customer, or VoC, is a combination of customer feedback, customer opinions and general views of your brand and product. The process also helps restaurant owners understand customer perspectives and the overall journey with an impartial vi...

  One of the biggest decisions of your business is determining the right price for your product. The pricing has to be competitive and at the same time, high enough to turn a reasonable profit. Achieving the right balance between these two can be really hard. Calculating your markup and margin are highly essential in such cases where the two numbers are used to estimate the sale price and cost of the goods. While these two seem similar, there are some important differences between the two. Markup is the amount that you charge above the cost of goods. Margin is the difference between the cost of goods and the sales price. Even if the distinction is subtle, it is rather important, particularly where formulas are necessary to make crucial business decisions. Calculating Markup vs. Margin can be challenging, but the formulas are relatively simple. It means you can apply these to your pricing strategy once you know how to use them. HERE IS A SIMPLE EXAMPLE: The cost price of a product i...

  Retailers everywhere are haunted by shrinkage. With theft and cash register errors being two of the main concerns, retailers constantly face the challenge of keeping their inventory up to date. Get an all-in-one POS or  Point of Sale System  with inbuilt inventory tracking and security features that perform accurate reporting, reconciliation, and analysis to push losses due to inventory shrinkage on a downward trend. PREVENTING THEFT AND FRAUD A bane in brick-and-mortar stores, inventory shrinkage is primarily attributed to theft and fraud. Most of these scams happen at the cash register levels, at the time of customer service, and in the warehouse. These could be in the form of fake sales, return goods fraud and purchase swindles. Minimise or even eliminate all these errors with OVERSEE POS systems About 38% of bulk inventory shrinkage is shoplifting, while employee theft is around 34.5% (data from the National Retail Security Survey – 2015). Another piece of data in t...

As the pandemic continues to disastrously impact sales, businesses are rapidly adapting to changing market situations to keep up with their sales. In order to succeed, businesses must shift to online experiential retail, more than ever. Improve your online sales processes, get a digital store, and move your focus to usage activities. Your  retail business  can adapt to the changing times in various ways. STRATEGISE If you’ve never been a part of large-scale product changes before, then retail adaptation can seem overwhelming. You can begin with the question – “What do customers want from the retailer during a pandemic?” Put yourself in the consumers’ shoes and think like them. Shift your business offerings to fit into these fast-changing times. SPECIALISED DEALS Create short-term value that transforms into a long-term customer relationship. Offer loyalty points at increased rates and boost your sales without discounting your products. This way, you can actually encourage repea...

Restaurant POS systems  have steadily evolved over the years to include several modules, including automated generation of bills divided by the type of order such as dine-in, takeaway or third-party requests. Traditionally, invoices were prone to errors due to manual handwritten billing processes. Today’s POS systems are packed with features and come with the ability to take restaurant businesses towards profitable growth. However, a start-up, even if it is a restaurant, is not devoid of challenges. A well-established project may also fail if you do not use contemporary technology, capable of handling all impending issues. POS is often the answer to most of the challenges. MOST COMMON RESTAURANT HURDLES AND THEIR SOLUTIONS The below trials are not limited to restaurants alone. Even bars, pubs, QSRs and food trucks stumble upon them. COMMUNICATION GAPS Lack of communication between managers and staff often leads to chaos. With no timely updates on orders, there is a lot of confusion...

  It is a common misconception that the POS or Point of Sale system performs only sales and return transactions. In reality, it does a lot more. Tracking inventory, expenses and scanning products for a systematic entry are just some of the basics performed by the POS. Today, every brick-and-mortar business, however small they may be must possess a POS to ensure that their operational workflows are seamless. BACKGROUND There are several input and output devices available to enable POS software functionality. These are operable across any modern landscape, be it a restaurant or a retail business in the forms of an iPad, traditional computer setup and anything that happens to be in between. In the end, the specific software is meant to align itself with the POS hardware to perform necessary tasks such as printing receipts through a printer, scanning the bar code through a scanner and accepting payments into the system through a card reader. If the customer is to scan a QR code, the...

  First-class customer service lasts long after a customer completes their purchase and leaves your store. With Oversee POS system, you can nab relevant customer information, such as name, email address, and contact details. Oversee POS system also allows you to analyse consumer behaviour. Using the data collected by the system, you can figure out who your top customers are. Through a loyalty program, you can reward customers who continue to choose your business over competitors. Customer information is also helpful in that you can use it to attract customers, to shop again at your business by sending marketing emails regarding new offers and upcoming deals By using POS system data, you can maintain the customer relationship. The better you maintain, the easier it is to retain customers.