ePOS systems do more than just improve ordering efficiency and communication between front of house and the kitchen. They offer a way to harness the data that your business is generating, and to use this to help drive cost reduction, more effective time management and profit.
A more agile pricing strategy
An ePOS system tracks sales, providing key insights into what the most effective price point is for your dishes – i.e. the point at which they sell in the highest volumes. You’ll also be able to use the data generated by ePOS to see how promotions and changes in price perform and to measure these against your businesses’ sales and profit. This flexible, agile approach is only made possible with ePOS and can help you to develop a pricing strategy that is responsive and smart.
Key business insights
Data can create a very wide range of insights that can be fed back into everything, from staffing schedules through to menu choices, to generate better returns. When you’ve been tracking your data for a while via an ePOS system you’ll be able to identify trends and see how these affect your business. For example, insights into peak times and busy periods could help you to more efficiently manage staff rotas. If you’re prepared for a surge in orders thanks to data insights then you can better handle buying.
The wastefulness of the industry is something that every restaurant should be doing more to improve. However, it’s not just about reducing food waste to create more sustainable processes but also to help cut the costs of food waste to you. An ePOS waste tracking system will give you the opportunity to track waste in many different ways in your restaurant, from what customers pay for but don’t eat, through to the ingredients that are wasted during the preparation process. This could feed into a range of profit-saving decisions, such as the potential need for smaller portion sizes or streamlined preparation processes.
Optimising your menu
ePOS really comes into its own when you start looking at how well your menu really performs with your target customer base. You’ll instantly be able to see which are the most popular items, which dishes are rarely ordered and which dishes are “one off” orders. You can use this kind of information in many ways, for example by removing dishes that are rarely ordered to avoid wasting money on buying the ingredients for them. Instead, you might want to focus on variations of the more popular dishes.
Upselling your menu
Insights from an ePOS will give you tools that you can pass on to wait staff to help encourage “upselling” of dishes and drinks. For example, you may know from the data that certain sides are often ordered with certain mains. Or that a particular wine goes really well with a specific dish. These can be passed on to wait staff to offer as recommendations to “upsell” so that diners order more – and enjoy what they get as a result.
These are just a few of the ways in which an ePOS can help your business to maximise its profits. Get in touch with Comtrex today to find out more about how our ePOS system could benefit your restaurant.