In this article, we'll be sharing our experience and expertise as EPoS suppliers to hospitality to help you determine whether an EPoS system is the right choice for your business. We'll examine the advantages and disadvantages of EPoS systems and provide insights to help you make an informed decision.
So, whether you're considering implementing a brand new EPoS system for the first time or looking to upgrade your existing system, read on to discover everything you need to know.
How do hospitality businesses use EPoS?
Hospitality businesses such as pubs, bars and restaurants use EPoS (Electronic Point of Sale) systems primarily to handle transactions and process payments, allowing customers to make purchases using various payment methods such as credit cards, debit cards and mobile payments.
But today’s EPoS systems manage much more, helping hospitality businesses to streamline their operations and improve efficiency, helping to manage everythingfrom customer orders to inventory to third party deliveries such as Deliveroo. By automating many of the tasks that were once done manually, businesses can save time, reduce errors, and focus on providing the best possible experience for their customers.
What are the advantages of an EPoS system?
Keeping up to date
A cloud-based EPoS system will enable your business to support all kinds of contactless payments – not only now, but in the future. As payment methods and mobile devices evolve, businesses increasingly need an adaptable tech-based solution that will allow them to keep up.
Supporting more contactless payment options simplifies the sales process for your guests, and encourages higher order values - after all, it’s better not to be limited by the cash amount in your wallet!
In addition, you can resonate with the 56% of the 16-24 age group who are more likely to use mobile payments (which means mobile payments are likely to become even more popular in the future as well). (UK Finance, 2021)
Reduces manual task loads
One of the key benefits of choosing an integrated electronic system is that you can streamline your operation and deliver business-wide visibility across functions.
By integrating your EPoS system with your stock and kitchen systems, you can manage ordering, purchasing and stock management in real-time or even automate processes reducing manual time spent on these tasks.
Helps with forecasting
An EPoS system is an essential tool for hospitality businesses looking to forecast and plan for the future.
By collecting and analysing real-time data, operators can make more informed decisions about everything from inventory management to menu planning. This data is especially helpful when it comes to forecasting, as it allows operators to identify trends and make predictions about future demand.
Armed with this information, operators can adjust staffing levels, manage inventory, and plan promotions and events with greater accuracy, ultimately leading to increased profitability and a more successful business.
Increases profitability
EPoS can increase profitability for hospitality businesses by improving operations through efficient stock management.
The system allows operators to monitor stock levels from a central point, enabling them to re-order or cancel orders in a timely manner. This leads to fewer instances of items being out of stock, resulting in happier customers.
Additionally, the system helps to minimise wastage by allowing operators to see which items are not selling well and make informed decisions about what to keep on the menu - preventing waste and keeping costs down. This ultimately leads to more profitable business decisions.
Deliver better customer service
An EPoS system can improve customer service by streamlining the ordering process and reducing the chances of human error.
Orders can be taken on a handheld device or at a terminal - and with menu items programmed into the system, staff can easily take customers' orders and send them directly to the kitchen, ensuring accuracy and timeliness.
Additionally, the system can be used to calculate bills and take payments, further reducing the likelihood of mistakes and speeding up the service. By providing a more efficient and accurate service, customers are more likely to leave satisfied and return in the future, ultimately improving the business's reputation and profitability.
EPoS system disadvantages
Reliability
As a business owner, you can’t afford to risk your system going down and compromising your ability to operate on your busiest days. It is important to choose a reliable and secure EPoS provider that offers a cutting-edge system without a single point of failure that could impact your ability to trade.
With an EPoS system collecting, processing and storing data from across functions, including advance orders, sales, stock levels, menu management and customer relationship management information, there’s a lot of data to lose if anything goes wrong. A cloud-based EPoS system provides added security as a more secure, data saving solution - keeping data safe by backing it up to the cloud.
Ongoing costs
The upkeep of hardware and software for hospitality businesses can be expensive. However, with subscription-based options available, integrated EPoS systems may be more affordable than traditional systems. It is important to consider the ongoing operational cost when selecting a system.
Adoption and training required
While purpose-built hospitality EPoS systems are designed to be user-friendly, some staff training may be necessary to ensure everyone is using the system to its full potential. Finding out the level of support available from the provider and the training they provide should be an important part of the selection process.
Time consuming to switch EPoS systems
Switching EPoS systems can be time-consuming, but with the right provider, the process can be made smoother. Access Hospitality provides ongoing support to businesses through implementation, adoption and ongoing support as needed to help you get the most of your software.
Is an EPoS right for your hospitality business?
In this article, we have explored the numerous benefits EPoS systems offer hospitality businesses. By streamlining services, reducing errors and improving order accuracy, EPoS systems can enhance the customer experience and increase profitability. In addition, the ability to monitor stock levels and sales data in real-time helps to make informed business decisions that will help make your business successful.
However, there are some disadvantages to consider, and hospitality businesses should mitigate the risks to their business by choosing a reliable EPoS provider that can confidently discuss these factors and assure you of how they can support you.
Ready to take the next step?
If you're ready to take the next step and want to find out more about how Access Hospitality's EPoS system can benefit your business, don't hesitate to contact our team. We're here to help and can provide you with information on pricing, book a demo, or answer any questions you may have. Get in touch with us today to learn more.
