You finally did it. You upgraded your point of sale system. You imported your data. You tossed the old paper spreadsheet into the garbage. Or the recycling bin, if you’re trying to be a bit more green. But then it hits you: you’re not entirely sure how this new POS works or even how to best use it. When it comes to your point of sale and inventory systems, they must not only be utilizing today’s technology, but they need to be properly configured and aligned to your specific business model. Miss the mark here and the data you rely on for projections and ordering will be incomplete and may lead you astray.
Developing Staff Management Improvements
It is unfortunate that staff management can be considered an afterthought with many POS solutions. Yet staffing policies and performance monitoring tools are vital elements for a business’s long-term success. The data points available in a next-gen POS software solution will provide you with insights that help you to determine potential areas of improvement.
Let’s look at what your current staff costs may look like and compare them to where they could be with a streamlined system in place. Processing staff payroll is a chore, but much of what is involved in checking staff hours and schedules should be readily available in an on-demand report. If it is not, your POS system is not where it should be for managing staff. If any part of your staff scheduling, timekeeping, or payroll, involves manual tasks to complete, it is time to look for improvements in your POS system.
Introducing update staff management functionalities will give you the full story around staff performances. Here are some examples of indicators that can be easily seen with stronger point of sale and inventory systems:
- Are employees being tipped at an extremely higher or lower rate than others? This could be indicative of overworked employees or underwhelmed customers.
- Is there a member of your staff that is voiding items at a much higher rate than is the typical norm in your business? If so, there may be a case of product leakage to investigate.
- Does it seem like one of your waitstaff is running to the kitchen more often than the others, or bringing back mistake dishes more than the others? This may be an issue with their ability to accurately take orders and a sign that this employee needs additional training.
Your POS software solution must be able to present to you via easy to read reports what exactly your staff is doing. This presents you with options in the event something unusual is detected, and makes running the other aspects of your business, especially inventory management, much easier and with an elevated level of accuracy.
The Accuracy of Your Inventory Management
Is inventory conducted once a quarter by a group of employees armed with clipboards? Do you walk around with a barcode reader to occasionally check stock levels? Can you pull up a list of items that are not moving within seconds of having the thought? If you answered yes to either of the first two questions or no to the third question, you are in possession of point of sale and inventory systems that just aren’t passing muster.
The reasons for stronger inventory management are as plentiful as NFL fans in September. Yet so many small business owners gloss over the proper management of inventory as a secondary necessity. This gets reflected in the technical capabilities their POS solutions exhibit and make a considerable negative impact on the bottom line.
Mismanaged inventory systems can cost businesses significant amounts of money. Bad inventory management causes three primary issues.
- Running out of stock. You will run out of some of the most popular items in your store, leaving customers aggravated and seeking other places to shop. A next-gen POS system can be configured to automatically reorder once stock levels reach a specified level.
- Drastic amounts of overstock. Do you know when a product has stopped selling or has gone out of vogue with your client base? If you don’t, you will soon find your storage room filled with products that no longer sell.
- Lack of visibility into employee-related product leakage. This ties in with staff management, as a common way employees cover theft is through voided transactions. A fully capable POS solution will connect the dots between missing inventory and voided transactions, allowing you to drastically reduce product leakage occurrences.
Properly configured point of sale and inventory systems give you an inventory management platform that provides near real-time monitoring of your inventory. Reports can easily tie in inconsistencies between stock levels and voided transactions, allowing you to identify potential theft issues. Additionally, you can readily see which products are starting to take off, and which are on the verge of becoming dust collectors. This reduces the likelihood of you running out of stock on the hot item and preventing your valuable cash assets from being tied up in the backroom.
Using Point of Sale and Inventory Systems to Enhance Business
The varying functionalities available in leading point of sale and inventory systems allow a degree of customizations based on business goals, industry, and needed manageability of processes. talech delivers different aspects into the POS solutions it designs for businesses, primality in the retail or restaurant industries. CRM and business insight data management and reporting are consistent across any industry and allow a business owner to quickly gain a near real-time perspective into any performance aspect that can be imagined.
For retailers, this means that daily operations, such as reconciliation and staff production tracking are easily seen at the touch of a finger. Using a mobile app, you can easily adjust staff schedules, process payroll, or review pending orders. This keeps your life balanced, reduces the stress of business ownership, and keeps your ship running as smoothly as possible.
On the restaurant side of things, talech POS solutions present modifier add-ons that are designed specifically for your industry. Staff performances can be easily reviewed, including tipping rate and order accuracy, while you can identify potential order accuracy or kitchen preparation issues through the reconciliation of meals sold to ingredients used. This serves to stretch out your profit margin while keeping all of your data safe in the cloud and in one platform.
When you reach out to talech, you gain more than a POS solution provider. We take the time to learn your business inside and out so that the solution we recommend and implement for you represents exactly where you are and where you want to be down the road. Once in place, our solutions stay in place and are essentially user proofed. Reach out to us today to sign up for a free demo and find out how we can leverage existing POS trends to elevate your restaurant to new heights.