Now It's Time For Your Restaurant To Switch To A Cloud-Based POS System
Cloud Based POS systems have gained a lot of popularity in restaurant industries. Even though traditional POS systems are still used with time Cloud Based POS systems will take over the traditional POS systems completely.
Cloud Based POS systems are making it easy for restaurants to access data from any location globally.
Research says that in 2020 the value of the global market size value of Cloud Based POS systems was $2.24 billion. The value size is estimated to reach up to $13.24 billion by 2028, registering a CAGR of 24.5% from 2020 to 2028.
Using Cloud-Based POS systems you can check the real-time information on any order like its status as well as table turn too. In simple words, a cloud-based POS is a software that is designed to help owners to track every aspect of their business. It is accessible from both the browser and the mobile app.
Another research from Global Market Insights says that “Restaurant POS terminal size from fixed POS is projected to exhibit a 5% growth between 2023 and 2032.
One another reason behind the popularity of Cloud Based POS systems is that these systems are easy to set up and cost-effective as compared to that traditional systems. Let’s get on to the blog and learn more about the Cloud Based POS system.
What are the benefits of using Cloud Based POS system?
Cloud-based POS system, a software-as-a-service (SaaS) allows restaurants to manage inventory, sales, and customer orders. But Cloud Based POS systems are limited to that, they are much more. There are many other benefits of Cloud Based POS system. Let us go deep into the benefits and learn more about each of them in detail.
Accessibility: Cloud Based POS systems can be accessed from any location all you need is an internet-connected device. Not only that, but you can also customize the software according to the specific needs of your business, giving you the flexibility to work from anywhere. You can manage analytics, inventory, or staff from anywhere in the world.
Scalability: The one question that comes to mind is, can we scale it as per our business needs? Cloud Based POS systems are highly scalable. They can be easily scaled up or scaled down to meet the needs of the business. It is possible to integrate more terminals or add more users without any additional hardware cost.
Security: Who doesn’t worry about the security of their data? Data is king and needs to be protected. With Cloud Based POS system you need not worry about security. It keeps all the data of your restaurants safe and private by storing it in the cloud.
This protects data from any leakage, or theft such as hacking by using techniques like encryption. Your data is completely private and can only be accessed by you. Also, it can be accessed by the person your assign.
Cost Efficient: Cloud-based POS systems are highly cost-effective. Traditional POS systems come with a lower start-up cost but then You do not have to pay a huge annual amount, it allows you to pay a lower amount monthly. A Cloud Based POS systems software requires no upfront investments and you can save a lot of money in the long run. Furthermore, all the expenses are included in your total payment and the updates are paid automatically.
Enhanced Customer Service: Cloud Based POS system lets you track all the orders of your users and their preferences. It in turn helps you provide better customer service. Keeping a track of your user’s preferences can help you design a menu according to their choices and can help your restaurant grow.
No Hardware Required: As a restaurant owner, there can be many questions that might be coming to your mind. One of them is, Do Cloud Based POS systems need specific hardware? The answer is NO. You don’t need any specific hardware. You can run Cloud Based POS system software on laptops, tablets, or mobile phones anytime from anywhere. A Cloud Based POS system is quite cost-effective.
Also, it eliminates the risk of hardware failure, virus attacks, and any other threat. Sometimes, staff can accidentally delete the sales reports, but with these systems, owners don't have to worry much, as Cloud Based POS systems take backup of every detail automatically.
Integrations: Managing online payments, orders, payments, inventory, and customers all by one software is not an easy task. But Cloud Based POS systems have made it easy for them all. These systems are called Integrated POS and are considered all-in-one software. These systems are good at managing:
Online Orders: Managing online orders all at once is easy for Cloud Based POS systems. POS software makes it easy for you to integrate your online ordering system with the third-party aggregator. Doing so, can increase your business and can help you retain your customers.
Inventory Management: Inventory management is not an easy task. It can be a headache if not managed properly. But, Cloud Based POS systems keep track of each item that is required and manage inventory properly. If anything is added or removed from your inventory, you will be notified. And, you are allowed to change goods according to your needs. In other words, it makes inventory easy and efficient.
Payment Integration: Payment integration has made it easy for you to provide different payment options. Customers are allowed to pay according to their convenience. Payment integration plays an important role in customer satisfaction and retaining customers as it makes it easy for them to pay.
Customer and Loyalty: The Cloud-Based POS system software makes it easy for you to understand your customers' needs. It lets you check the customer’s purchase history and let you know your loyal customers. While customers make any transaction a POS profile gets created and it helps you understand the customer’s purchase history. This helps you maintain customer retention and you can also gift the coupons to them.
Less Downtime: The internet is the main part of everyone’s lives and we are all internet-dependent these days. If the internet goes off most of the work stops instantly. But this is something that you don’t have to worry about with Cloud Based POS system working. These systems work in online and offline modes. If ever the internet goes down, you can easily switch to offline mode, and the systems will work the same. Also, you can connect again to the internet when the internet is up.
Faster Decision Making: Cloud Based POS systems facilitate extensive business insights faster and easier, which in turn helps owners to understand better what is happening from the back of the house to the front. These systems provide a holistic picture of how your business is running and make it easy for owners to take better decisions for their business as well as staff.
Accuracy: In any business, accuracy is the main factor. Every business thrive to serve its customers with 100% accuracy. But, nothing is perfect nor the accuracy. It is not easy to achieve 100% accuracy, as there is a high possibility that data is inaccurate or missing. Restaurant owners, because of the wrong data stored or missing data, face a lot of problems while reviewing historical information such as sales, purchases, and customer details.
This problem has been eliminated by Cloud Based POS systems. As Cloud Based POS systems keep track of all the information automatically and allow owners and users to view and work with data accurately.
Things to keep in mind while choosing a Cloud Based POS system
When you are upgrading your restaurant, you need to take time to invest in POS systems. As a business owner, there might be many questions that come to your mind. One of them is How can I pick the best POS system as per my company's needs? Here are a few points that you need to consider while choosing a great POS system. They are:
Usage: The POS system should be easy to use and understand so that your staff can easily learn its operation with minimum training.
Flexibility: You need to use a POS system that can help your business expand. So, know the business requirements and only then choose a POS system.
Support: In case, any glitch comes up or you might need any assistance with the POS system. To ensure you get the assistance on time chooses a system that provides you with customer support 24x7.
Price: POS systems may vary a lot in their price. So it is important to figure out the system that fulfills your restaurant needs within your budget. But make sure that doesn’t go for extremely cheap systems because they tend to be less reliable. If you do so your POS system ends up costing you more in the long run.
The worthiness of Cloud Based POS systems
No matter how daunting or worrying it appears to use Cloud Based POS system first. But the food businesses who moved to Cloud-Based POS systems, are completely satisfied with the technology once they start using it. As Cloud Based POS systems are helping owners to keep their businesses safe, more profitable, and more efficient.
Also, RBI Annual Report says, “the percentage of digital transactions in total non-cash retail payments increased from 97.0% in 2019-2020 to 98.5% in 2020-21. Therefore, the growth in digital payments is expected to boost demand for cloud point of sale (POS) during the forecast period.”
Also, according to Global Market Insights Inc., the restaurant POS terminals market can surpass US$25 billion by 2027.
These systems are helping save time and are speedying the businesses and can manage their customer better.
Overall, technological advancements and rapid penetration of cloud technology are going to play an important role in increasing the restaurant POS terminal market growth.
The Cloud Based POS systems are being upgraded and becoming more and more popular among restaurants. They are easily customizable and adaptable to the advancement in technology. Many analysts expect Cloud Based POS systems will soon replace the old cash registers with mobile devices or POS systems. But choosing a reliable suitable POS system is not an easy task. Take enough time, look into the different POS systems, and then decide which POS system you want.
In addition, the customer inclination towards the technologically equipped dining experience is making it necessary for the restaurant to adopt the advanced POS terminals
We at JiWeb Technologies, understand the importance of upgrading your POS services. So, we provide the most reliable and budget-friendly POS system services to all restaurant businesses.
So, don’t hold yourself back and upgrade your old POS systems to Cloud-Based POS systems. And secure your business and make it more flexible with our services. To know more about us, visit our website.