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3 Tips for Saving Money with Your POS System

Product Management

3 Tips for Saving Money with Your POS System image pos system 300x246

In general, POS systems are necessary to the restaurant industry. However, finding the right one can save you a handful of cash as well. Still, many restaurants use their system and software for basic needs without diving deeper into their options. You may be surprised to find that using your POS system, when used to its full capacity, can save time and money. Check out these 3 money saving options.

Inventory Management

Knowing what you have in stock at the beginning of the day and before you close, as well as staring the week and month, is integral to saving money. Whether food cost is high or ordering is off, you want to keep track of what you have so you can track down the problem and avoid losing money.

  • Theft: Employee food theft is not out of the question. Be wary of this if your food losses don’t match up with what is left behind.
  • Better ordering: If you’re falling short each month, you’re not making as much money as you could. If you have a surplus, you’re spending more than you need to. Either way, using your POS to keep track of this will allow you to keep a steady cash flow.

Pricing Accuracy

New or careless employees may not be concerned with charging too little or too much for specials and discounted meals. A POS system will allow you to ensure that the right amount of money is coming in, so you aren’t falling short at the end of the day.

  • Daily specials: Instead of relying on employees to input the correct price, utilize your system to put it in for them. You can often customize certain buttons for each special and modify it as often as you like. Each daily special can be different and you can modify it right within the POS.

Time and Attendance

Running a restaurant means you have a lot of employees to watch for. Whether they are coming or going, it’s easy to lose track of someone in early in the morning or during a late night closing. To avoid employee time theft, take advantage of built in time and attendance software.

  • Accurate employee hours: Don’t give employees a way to take extra money. With time and attendance software you can show them when they clocked in and when they clocked out. This can be integral to avoiding a loss of wages lawsuit.
  • Labor loss: If sales are low but you’re fully staffed for rush hour, your labor is going to be high, which costs you money. Monitor this with even the most basic POS software. This way you can let people off or call more people in accordingly.

While POS systems seem simple, they can actually make a big difference in your bottom line. From employee time theft to high food costs, it’s important you are able to keep track and adjust as necessary. Find the right POS system for your business, take advantage of each feature, and watch the cost savings start to add up.

Photo Credit: posqx.com

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  1. Definitely, this POS system is such a worthy investment for my restaurant. It helped me caught those employees who were doing something behind my back.

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