The restaurant industry has traditionally been slow to adopt innovative technology and digital solutions. However, the pandemic onslaught in early 2020 changed that by forcing the industry to step out of its comfort zone. According to a study conducted by market intelligence & advisory firm Mordor Intelligence, a third of customers in Southeast Asia have reduced their use of traditional payment methods, such as cash, credit cards, and debit cards. The transition from traditional POS to cloud-based POS has not only helped the restaurants maintain a social distance but also ensured accuracy and efficiency in business operation.
From contactless table ordering, to self-checkouts and touchless payments, to easy delivery and pick-up methods, the industry can no longer afford to overlook the trends that are helping businesses reinvent themselves to remain competitive as 50% cloud-based POS adoption rate is expected across all restaurant categories by 2022.
If you’re a restaurant owner who is still not convinced about adopting cloud-based POS systems for your operation, the following reasons will hopefully clear your doubts and make you take a leap towards the future.
A cloud-based POS system makes monitoring critical business data from multiple outlets convenient. You can utilize these real-time data and analytics, including sales and transaction history, the conversion rates of marketing and promotional activities, loyalty programs, and staff productivity reports to understand your business and make the right decision, all in just a few clicks..
Unlike a traditional POS system for restaurants where the data is stored on local servers and runs on a closed network; a cloud-based POS system stores data on a remote server where everything will be automatically synced and backed up, so you don't have to worry about losing your data in case of a system breakdown. Better protection, greater peace of mind.
Data drives an increasing number of business decisions in the digital age and gathering the metrics that form the basis of insights has never been easier with a cloud-based POS system. From restaurant's sales and accounts to employees' performances and inventory, having these data can help your business rationalize its operations, minimize costs and maximize profits.
Inefficient inventory management can cause a restaurateur many problems, such as not having specific offerings available for customers, facing ingredient shortages, or having too many ingredients, which leads to wastage. By implementing a cloud-based POS system, you no longer have to depend on guesswork when tracking inventory levels or purchasing orders. Through the system, you can gather all the data related to vendors, purchase orders, supplies, and sales to compute recipe and menu costs accurately.
As a restaurant owner, you should be able to control every aspect of your business. Yet, keeping track of everything at once can be an onerous task, especially if you own more than one restaurant or have multiple food delivery platform accounts. By adopting a cloud-based POS system, you can integrate and centralize your data from various restaurant locations and integrate many applications into one dashboard to provide you with a holistic view of your business and improve operations efficiency.
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