Achieving a balance of revenue and operational costs is crucial to the positive growth of any restaurant business. Right now, this is particularly challenging with a recent survey of pubs and restaurants revealing that operating costs now stand at over 50% of turnover. However, thanks to the insights and efficiencies of modern technology, investing in the right ePOS system could provide the tools to help bring the balance of costs back under control.
ePOS systems deliver crucial insights
It’s these insights that enable a business to make changes that have a tangible impact on cost reduction. If you’re not currently using an ePOS system then there may be many gaps in your knowledge when it comes to the factors within your business that could be pushing costs up, such as
- How much stock is being thrown out and how much this costs the business on a weekly or monthly basis
- Whether you’re getting customer complaints, for example about slow service, and whether this is resulting in dissatisfaction with the bill or loss of a customer
- When your peak times are and whether peak times are also the most profitable times for your business
- Which dishes are the best sellers and which choices are less popular
- The ratio of staff costs to the number of customers you’re serving per day
- Which suppliers are giving your restaurant the best deals
A good ePOS system will not only help you to find answers to these key questions but also to work out what the cause of any spiraling costs might be.
How an ePOS system could help you cut costs
- The capture of real time data about the way that your restaurant is functioning can reveal where your systems and choices could be more efficient. For example, you’ll be able to see which dishes are best sellers and whether your stock ordering choices make sense in light of that.
- An ePOS system provides service improvement opportunities that can help to reduce the costs associated with complaints about slow or poor service. For example, a system with tableside ordering and payment taking means staff don’t have to travel to facilitate customer orders or payments. A system that links up to kitchen automation means that orders can be prepared as soon as they are taken.
- Integration with other business processes and systems can save time and money. For example, an ePOS system that integrates with your restaurant accounting software will enable more accurate financial analysis and oversight.
- An ePOS system provides more transparency, as every transaction is tracked. This makes it much easier to identify issues such as behaviours that could be costing the business substantially in fraudulent losses.
- The use of devices, such as iPads or smart phones, to take orders can make the process more efficient and streamline the technology used across a restaurant group to avoid costly inconsistencies.
- The element of data capture in using an ePOS system provides the means to create more targeted marketing campaigns that deliver more return on investment cost.
We are an ePOS systems company specialising in the restaurant and hospitality sector. If you’d like to find out more about how integrating ePOS could help your business to cut costs, get in touch with Comtrex today on 01293 789 500.