Chief financial officers (CFOs) in the hospitality industry are faced with the challenging task of procuring restaurant software to not only help optimise productivity but – most importantly – to increase profits.

There are many different Point of Sale (PoS) systems on the market. However, not all of them offer the required depth of functionality needed to help improve an establishment’s bottom line. There are crucial aspects that CFOs, especially those buying for large franchises, must keep in mind when choosing restaurant software. We take a look at what Point of Sale systems have to offer to maximise profits.

Restaurant software must increase ROI

Many factors influence an establishment’s bottom line – the more intuitive and multi-functional your restaurant software is, the better the chances of it increasing your profits. The secret ingredient to increase control over every operation across multiple outlets is the capturing of data. The more valuable the data that restaurant software collates, the better you can regulate incoming and outgoing costs.

The application of valuable data facilitates financial management through the improved accuracy of forecasting. Restaurant data, applied to monitor the productivity of staff, helps to pinpoint underperformers and set up training programmes. You can also better manage stock levels to improve ordering, minimise wastage and find the most cost-effective suppliers.

Improve efficiency across all operations

The main purpose of a Point of Sale solution is to improve the overall efficiency of service delivery, from front- to back-of-house and throughout the entire establishment. When choosing restaurant software, there should be no compromise when it comes to how much the system can automate – leaving less room for costly errors. More importantly, the captured and correlated restaurant data can be used to compile valuable reports to help increase productivity, and ultimately, profits.

Integrate with other hospitality offerings

A Point of Sale system should exceed the expected management of orders. A CFO should look for restaurant software with a multi-dimensional offering that increases functionality and allows time and cost savings. This is why it’s essential to source restaurant software that seamlessly integrates with other products and services in the hospitality industry. Services that facilitate the reservation process, mobile payments, customer loyalty programmes and financial management are just a few to consider when looking at restaurant software integration.

A comprehensive support structure

When choosing restaurant software, be aware that it will require updates and have technical issues. System downtime can have serious consequences on an establishment’s bottom line. Aside from a well-informed call centre that’s always available, a restaurant software provider should be equipped to quickly and effectively resolve any problems. Also keep in mind that most providers have an often costly call-out and repair fee, so always read the fine print before signing off on the purchase.

At Pilot, we understand the pressure that those in the financial decision-making process are faced with. Our Point of Sale software is designed to help optimise every aspect of the restaurant management process across a franchise, regardless of size.

Through the collection and correlation of data, our PilotLive business analytics provides every CFO with the tools to make accurate and informed buying decisions to help increase revenue. Pilot has partnered with various service providers, inside and outside the hospitality industry, to ensure we offer our clients a comprehensive Point of Sale solution.

For more information on how a Point of Sale solution can help you improve financial operations, download our free Modern-day PoS Guide.

Author : Rudi Badenhorst