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WHAT'S THE BUZZ IN HOSPITALITY?

Boosting Restaurant Profitability

Dec 03,2019

The 2019 Restaurant Technology Study, an annual research study from Hospitality Technology, explains how restaurants are recognizing the fact that improving their digital stance is top of mind. In recent years, restaurant operators dedicated much of their IT budgets to front-of-the-house operations. Today, however, those operators realize that growth can also take place behind the scenes – at the back-of-the-house.

According to the study, operators are allocating IT spend to back-office investments, with 49% looking to increase budgets. The back-office for restaurants is a broad term for software technology that encompasses inventory, reporting, and analytics, among others. POS systems are one of the most powerful business tools for restaurants. Investing in a quality solution enables the restaurant to run more efficiently and be more profitable. Yes, restaurants can boost profits with a POS system. Here’s how:

Track What You Sell:

Hand-written tickets may not include items like a small beverage or an extra sauce, which may seem trivial, but can eat into your profits. These missed items add up quickly. As little as $30 a day in missed items can amount to more than $10,000 of “lost” inventory - and revenue - over 12 months. These losses are preventable with a POS system. Order and menu item management in the POS enforces accurate tracking of all the items you sell. Furthermore, digitally managing menu items allows you to track the flow of items sold while providing insights that help you price items appropriately, further boosting item profitability.

Optimize Your Staff Resources:

You already know that quickly turning tables helps maximize revenue. And communication is everything when it comes to providing superior service that results in quick table turns. Valuable time is otherwise wasted in repetitive interactions that aren't necessary when using a mobile POS system. Incorrect orders not only contribute to food waste, but also upset guests. When using a mobile POS tablet, the kitchen receives order details straight from the POS, often while a server is stall table-side and engaged with guests. Cooks receive a digital print-out which helps eliminate the costly mistakes associated with handwritten or verbal orders while creating a more confident kitchen staff.

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