5 Ways an iPad POS Provides Incredible Return on Investment
How can switching to an iPad POS save and earn your business more money?
Despite the immense growth and increased power of modern-day POS systems, many companies still opt to stick to traditional cash register systems or legacy POSs. Given that a POS is the beating heart of any F&B business, it's imperative that companies are able to get the most out of their POS system and not unintentionally lose money by running an older, inefficient system. Newer POS systems, specifically cloud-based, iPad- systems, offer a ton of flexibility, customization and reporting power that can improve your Front of House, Back of House and even bookkeeping experience. If that's not enough incentive to make the switch, here are five ways an iPad POS provides incredible Return on Investment (ROI).
1. No On-site Servers, No Setup Charges, No Unnecessary Expenditure
While many traditional cash registers and POS systems require several days for installation, delivery, maintenance and so on, an iPad POS bypasses all these steps. With several POS systems requiring on-site servers, a tech department and more, you'll instantly gain a substantial ROI simply by not having to pay for servers and IT staff. You can also bypass any installation or setup charges, meaning that right off the bat, your business will be in the green. How much in the green exactly? Well, if the amount for a resident IT professional and an on-site server are taken into account,  "the average cost for this on-premises configuration would be $1,476.31 a month."
2. Faster Service Means Faster Cash Flow
One of the main benefits of using an iPad POS is the speed of the system and its ability to take orders quickly, effectively and with fewer errors. Customizing your menu keys, sorting items and adding modifiers are all ways in which servers can easily use an iPad POS with as much speed as possibly. The customization, lack of clutter and ease-of-use means that orders can be taken faster, improving table turnover and increasing cash flow. From our experience, your business could see speed improvements of up to 5-20%, which makes for a great Return on Investment.
3. Track Your Inventory and Cap Wasted Money
An iPad POS uses modern technology to its advantage and lets you have control over your inventory. Your business can easily keep tabs on what items are running low, when to order more and how to cut back on unnecessary food waste. Buying just the right amount of ingredients not only lets your business maintain a greener, environmentally-friendly profile, but it also helps you save money in the long run. To put this into financial perspective, according to the National Restaurant Association, approximately  4-10 percent of food is thrown away without ever reaching a single customer. Even being able to half that amount of food waste would see great return on investment.
4. CRM and Loyalty for Repeat Business
Customer Relationship Management, combined with loyalty programs, ensures that your business is engaging with patrons and constantly communicating with them. These iPad POS tools provide incentive for customers to spend, be it because of stored CRM data that lets your business adapt to the latest trends, or because of tiered loyalty programs that offer bigger and better benefits. Providing these sorts of beneficial and positive experiences for customers guarantees repeat business and greater returns. If we take a look at some of the largest F&B giants who used loyalty programs and CRM to their advantage, we can see that  Starbucks loyalty cards now store in excess of 1.2 billion dollars on them! And Panera, a US-based bakery chain, has seen staggering growth through CRM and loyalty programs which now account for 26% of all company sales.
5. Online and Mobile Order-taking Capabilities to Boost Customer Reach
We're living in a digital age now, and there's no denying that mobile and web ordering has exploded in popularity. A legacy POS system simply does not have the necessary technology to adapt to these new market conditions, losing your business plenty of potential business. An iPad POS, on the other hand, is fully-equipped to handle both mobile and web orders. In 2018, global mobile payments totaled around  930 billion US dollars, proving that there is a huge market for mobile ordering. This figure doesn't even show the full potential that web ordering has. By taking advantage of mobile and web customers, your business can tap into the fact that "digital restaurant ordering is growing 300 percent faster than dine-in traffic." In addition, your business can save big since taking orders online saves around  2.5 hours of restaurant time per 100 orders placed. The ROI benefits just keep rolling in, especially if you're running a small restaurant, as you could gain up to  50% more takeout revenue by enabling online and mobile ordering.
Want to learn about how Eats365 can help your business switch to an iPad POS? Find out more here