Which Are The Must Have Integrations of a POS Billing Software?
The market size of POS software is slated to reach $18.1 billion by 2027.
Your POS billing software forms the backbone of your hospitality business. It lets you track payments, manage inventory, handle orders and provide robust reporting to help you make informed decisions.
But if you’ve already invested in POS billing software for restaurant and retail, do you really need additional software integrations on top of that?
Well, the answer is a big “Yes! Not only do you get a full-fledged solution for your hotel/restaurant, but you also build better relations with your customers.
This blog will help you better understand POS integrations and how they can be valuable for your restaurant.
What Is a POS Integration?
Well, it is a program designed to connect with your existing restaurant system and increase its core functionality.
Moreover, it lets you control all different aspects of your business from one place. You can say goodbye to manual data entries as your accounting ledger can calculate the daily sales total and leave you more time for other activities.
Here are some of the POS integrations you need for having a robust restaurant solution:
- Accounting
- Online Ordering
- Reporting
- Scheduling
Let’s dive in to examine each POS integration and see how they are advantageous to your restaurant operations.
1. Accounting Integration
One of the most valuable integrations for POS billing software for restaurant and retail is an accounting program.
It can help you map your restaurant sales and analyze performance data daily. Moreover, the final calculations are pulled right from the POS solution. Thus, eliminating any instances of manual errors.
Accounting tools can help you map the following functions and different transactions:
- Taxes
- Revenue
- Cash drawer transactions
- Gift cards
- Credit cards
Interestingly, this data can be specified by location. This makes it easier to compare and group multiple locations. Another exciting aspect is that accounting integrations provide you with monthly and yearly reports and help you forecast trends.
One of the significant advantages of integrating sales and accounting functions with online billing software is that you save restaurant managers hours of work.
They no longer need to waste time with multiple spreadsheets. You can get real-time updates through your dashboard and leverage the power of advanced analytics to stay ahead of your competitors.
2. Reporting Modules
33% of people will never eat at a restaurant that has been given less than four stars.
The whole idea of collecting performance data is to improve business operations. If you are not analyzing it to get key insights, it can drastically impact your restaurant business. A possible solution is to integrate a reporting system that can help you identify shortcomings, do a cost-benefit analysis and increase profits.
Your restaurant logs hundreds to thousands of transactions on a daily basis. A reporting module will record each sale at every hour.
Moreover, it carries out an in-depth inventory check and helps you find solutions to even the most complex business challenges. It also lets you eliminate instances of theft in check and find out ways to maximize sales.
What if you could get solid context for your sales data? Well, reporting functionality for your POS billing software for restaurant and retail will do that and much more. Was it the great weather that promoted food sales, or was it due to summer that more drinks were sold?
Furthermore, online billing software lets you use a dozen filters like employee groups, yearly figures, and custom date ranges. Once you specify them, you can get access to reports on dashboards at any given time.
3. Scheduling Tools
Rotational shifts and long working hours define the hospitality industry. However, having a restaurant scheduling solution can help you stay on top of labor management.
With key operational data at hand, you can create schedules that work best for you and your staff. Moreover, you can say goodbye to spreadsheets and paper to print schedules.
Interestingly, scheduling solutions can help you save 80% of time spent on tasks and shift management. Besides, you can leverage the power of predictive scheduling to calculate the staff required for a shift with online billing software.
Furthermore, POS data will give you an accurate estimate of the revenue generated by a specific employee in a given hour. But, how is this possible?
Not only will it save you extra costs, but it also notifies your staff of work shifts beforehand. Thus, there will be a reduced number of no-shows and last-minute surprises.
4. Online Ordering
67% of millennials prefer restaurants that offer delivery options.
When it comes to fulfilling customers’ expectations, technology can be your savior. This is precisely why online delivery is a must for restaurants and hotels.
If you use delivery services like Foodora, Zomato and Uber Eats, you must have noticed that each one functions differently. This can be extremely confusing and overwhelm your staff.
This is why you need to integrate your POS billing software for restaurant and retail with an online ordering solution. But, how will it help you? Well, it will collect all orders that come from third-party apps and give you a clear picture on your POS solution. Thus, you will save precious time typing out orders and can use it to solve other issues.
While it may not appeal to you, getting online orders is a great boon for your business. With POS integrations, you can ensure that your order details are not lost and are entered correctly. Moreover, you will get a new stream of revenue and increase your profits with online billing software.
Furthermore, you can cut down the staff required for online ordering if you have an integration in place. Lastly, you will be able to manage things from a single location and make informed decisions.
Wrapping Up
Every POS integration involves two key elements:
- Accuracy
- Automation
When you share POS data with different tools, you can find new ways to cut costs, work smarter and retain customers.
To integrate various tools, we suggest that you choose a single vendor. This will ensure that apps have the same data, and you can create a centralized solution to improve your business.
This was all about integrating solutions with your POS billing software for restaurant and retail?
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