6 Best Restaurant POS Systems in 2023

By: KEXY Team
January 8, 2024
News And Tips

Do want to know Restaurant POS Systems? then do check out this post to know more. Every business and industry is moving towards using some form of a software system to augment its operations and management. The benefits of this have been evident.

For example, inventory tracking software can allow you to work out an optimum inventory level instead of buying too much of it and decreasing the amount of available money you have.

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Other benefits include the integration of a whole business into one system, with a Point of Sale System. It is something every industry can use, including restaurants and bars.

So, if you are looking for software for chefs, you need to know some of the basic things before choosing the most appropriate one for your business. Let’s see what makes a free inventory management system the best friend of any business and what qualities you should look for in it.

Point of Sale System

A Point of Sale system or a point of sale software is a software solution for a retailer or a restaurant that ties in everything. Ranging from the cash register to the inventory and stock, it makes sure that the business runs smooth and error-free.

List of Restaurant POS Systems

1. Inventory Management Software
2. Things to Look for in Software for Chefs
3. Inventory Tracking Software
4. Break-Even Analysis Formula
5. Ordering Food Online
6. Buying the Software or Getting One Designed

1. Inventory Management Software

We need to know what inventory management software is before we get into the details of this topic. So, what is inventory management software? Well, inventory management software is a tool designed to keep track of the stock held by a point of sale.

Free inventory management software are available in the market that you can use for general businesses like a restaurant, and if you do something unique, you can have one designed for you. Free inventory management system, as well as the paid ones, can tie in with the point of sale system to digitalize the operations of your restaurant or bar.

2. Things to Look for in Software for Chefs

Other than being simple enough to be operated by chefs, who have limited expertise over software and its operation, software for chefs need to have the following things in it:

3. Inventory Tracking Software

The most significant part of any software solution designed to help run a retail location whether it is a Walmart store or a local bar or a breakfast restaurant is the inventory tracking software.

The need for this is paramount because you cannot afford a communication gap between your procurement and operations teams.

An inventory tracking software would keep track of the ingredients your chefs use to prepare the meals, and when the stock of a particular product is below a certain level, it can alert the procurement department to arrange for the material before it runs out. It is the thing that ties the operations and management of your point of sale into one unit.

EXPERT TIP OF RESTAURANT POS SYSTEM:  One of the best bar or restaurant inventory software management applications that will offer you a more robust inventory and ordering software solution is KEXY.  Not only is it free, but it complements POS systems quite well.

4. Break-Even Analysis Formula

Whether you are a chef running your own restaurant or have a bar where you personally tend to the demands of the customers, you need to have a software solution that can show you, in real-time, either you are heading towards a profit or loss in your business transactions.

Every good point of sale system has the break-even analysis formula built into it. The software shows you on a daily basis the expenditures you have had and the revenue you have generated.

You can see the areas that are costing you the most, where you can cut costs down, and where you need to focus to increase the revenue. It takes the math out and provides you with precise data that you will need to improve the state of affairs.

5. Ordering Food Online

If you offer online food delivery, which you should if don’t already, you need to get a software solution that caters to that. No matter if you’re offering cooked food for delivery or you deal in delivery meal kits, you need your point of sale system to cater for this.

If you accept payment via a credit card or other online sources, your point of sale system can take the data directly from your bank and show that in your balance sheets.

If you provide cash-on-delivery services, you need to make sure that the payment method is also compatible with the software solution you use in your restaurant.

6. Buying the Software or Getting One Designed

Here are some of the pros and cons of buying software to manage your restaurant or bar or developing one for it.

Pros and Cons of Buying a Point of Sale System

Pros of Restaurant POS Systems

  • Ready-made software is cheaper.
  • These programs have a large user base and are hence free of errors.
  • They cover a wide array of functions.
  • They are regularly developed and improved by the developers.
  • After-sales support services are good.

Cons of Restaurant POS Systems

  • They are highly generic.
  • Not according to your specific needs.
  • Can lack the functions you want.
  • Inefficient as compared to specially designed ones.

Pros and Cons of Getting a Point of Sale System Designed

Pros of Restaurant pos Systems

  • Specific to your needs.
  • Customized and optimized for you.
  • You can add the specialty of your business to it.

Cons of Rrestaurant Pos systems

  • No regular bug fixes/updates.
  • No user community to discuss issues.
  • After-sales support services are costly.
  • Frequent bugs and errors due to lack of sufficient use and testing.

Where to Get Restaurant POS in 2023?

Now, if you want to explore the best point of sale software for your restaurant, we’ve done the job to some extent here. In our list, we include the cloud-based options that are affordable, easy to install, and use.

1. Toast – Visit Here
2. Vend – Visit Here
3. Lightspeed – Visit Here
4. TouchBistro – Visit Here
5. Epos Now – Visit Here

The Final Verdict on Restaurant POS Systems

The computer has revolutionized the way everything and every business and industry work. Retail outlets are among some of the chief beneficiaries of technological advancement.

If you run or own a restaurant or bar and want software for chefs that your chef can operate to enhance the efficiency of your point of sale, you need to make sure that the software has the following qualities:

  • Free of any errors.
  • Has an inventory management system.
  • Has the break-even analysis formula built into it.
  • Caters to the needs of people ordering food online.
  • Keeps record of the customers.
  • Ties in with your point of sale system seamlessly.

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KEXY Bites is your go-to hub for all things food and beverage. Whether you're a retailer, supplier, or distributor, we deliver insightful content that ignites fresh thinking for your business.