EPOS and Payment Processing Specialist | Haven Systems Haven Systems in an established software development house specialising in Electronic Point of Sale, Payment Processing and Management Information Systems.

Benefits of EPOS systems for Hospitality Businesses

Benefits of EPOS systems for Hospitality Businesses

No matter what size or type of hospitality business you run, purchasing a variety of goods from different wholesalers, preparing fresh foods, creating delicious meals and selling them to your end customer is what businesses in the hospitality sector have in common. 

One common restaurant problem is keeping control of this inventory process. This is vital for businesses to operate smoothly and run effectively. Managing a restaurant is difficult enough, that’s why, with the right restaurant EPOS system, businesses can manage sales vs. stock much more effectively, saving a considerable amount of time, energy, and money. 

With these systems specifically designed for hospitality businesses, products can be ordered and paid for in one swift transaction while simultaneously managing and controlling stock levels, therefore taking restaurant problems, and providing solutions. 

But what additional benefits are on offer when you invest in hospitality epos software, and what is a restaurant EPOS system? 

Restaurant EPOS System 

EPOS systems are a combination of equipment such as: 

  • Cash draws 
  • Chip and pin devices 
  • Customer displays 
  • Keyboards 
  • Printers 
  • Barcode scanners 
  • Touchscreen monitors 
  • And much more! 

Ultimately, these systems support data entry and allow businesses and customers to carry out various transactions and tasks. 

Today, most restaurants will use EPOS systems to connect business operations in one centralised location, storing all information and data in one place that can be accessed at any time from anywhere. 

Integrating business systems in this manner allows you to simplify stock and ordering processes and provide detailed reporting for sales records, accounting, marketing, and more.

The Benefits of an EPOS System 

There are many benefits to having an integrated EPOS management system including:  

Help with stock control 

Managing stock and inventory is one of the biggest areas for any business. It is time-consuming and quite often a messy affair. However, the biggest challenge is ensuring that you have enough stock to satisfy consumer demand, as not having enough stock or having too much can become costly for your business. 

Gaining full control over your stock levels and providing valuable real-time insight into your inventory – EPOS systems can provide it all. Now you can track stock and receive alerts and notifications when items begin to run low with suppliers set up online, making reordering quick and easy. 

Inventory management involves purchasing, order fulfilment, and tracking the volume of products you have for sale. It is the supply chain of your business, ultimately from sourcing to selling – it is a vital cog in the wheel. 

Answer customer queries instantly 

Providing you with real-time stock information (when an item is scanned out, it is automatically removed from the inventory list), your teams know what stock is available when asked for it by a customer. Checking stock availability with an order and payment option available too will also allow you to capitalise on additional sales. 

Track sales 

With the right software, you can now run reports, compare sales figures against weeks, months, etc., and analyse sales against current stock levels. 

Having this information on hand allows you to make better and more informed decisions about your stock to help boost those all-important profit margins. For example, you can instantly see those top-selling products vs. those that are currently underperforming, where the identified low-margin products you may consider reducing, putting on special offers, etc. 

Manage customer information 

With all information recorded and stored in an organised manner, you can monitor customer behaviour and build customer profiles to help you improve and build on the customer experience. 

Move from manual to automated 

Systems must be easy to use and well documented. Automating your inventory control tasks that are typically performed manually allows you to save time, reduce costs, and improve overall business efficiency. 

Centralise all information and data 

With the right EPOS software, you can centralise everything, keeping everything (all of the information you need and want) in one place. EPOS systems can also be incorporated across multiple sites, allowing you to see stock levels in other stores if required. 

Good inventory management can ultimately help businesses improve their cash flow and reduce costs across various areas, as now you have the functionality and software to evaluate all of the items you stock fully. 

Depending on your requirements, there are specific features to look for in these systems, as different EPOS systems can be customised to meet set specifications. It’s important that you find the right system for you. A solution that meets your requirements, tracks sales, records customer data, processes orders, selects products for purchase and helps organise your business to increase productivity and sales. 

You want an EPOS system for your hospitality business that works harder and smarter for you, so you can focus on alternative areas and aspects of the business and even take some of that much-needed time off! For the best EPOS systems for your business, call 01646 601 992 or email sales@haven-systems.co.uk today.