A restaurant management system offers a wide range of benefits, such as easy and quick scheduling, automatic analysis, tracking sales, reduced errors, boosted productivity, and effective use of human resources.
A point-of-sale (POS) is a computerized system used throughout the restaurant industry, allowing business owners and managers to monitor sales, analyze cash flow, and manage food inventory.
The purpose of a POS system is to simplify the bookkeeping and accounting aspects of your restaurant business. Experts say that even a high-end POS software system is incomplete without inventory management tools.
According to Grand View Research, POS software systems’ market size value reached $9.3 billion in 2020, and the figure will reach a whopping $18 billion by 2027. Research shows that 95% of restaurant business owners say that technology tools, including a POS system, can streamline business operations and lead to higher returns on investments (ROIs).
A study conducted by the National Restaurant Association highlights that 75% of restaurants in the U.S find it challenging to manage food costs and maintain inventory. Researchers concluded that restaurant businesses could overcome these challenges through a robust POS system with a powerful and easy-to-use inventory management software.
What is Toast POS System?
Toast POS is one of the best restaurant management systems, allowing business owners to improve their restaurant operations, cut costs, and increase ROIs. The software system offers a wide range of features, such as:
- Access controls and permissions
- Barcode and ticket scanning
- Built-in accounting features
- Billing and invoicing
- Delivery management
- Cash management
- Gift card management
- Staff management
- Electronic signature
Toast POS system is available on desktop and Android platforms, making it an ideal restaurant management system for small, medium restaurant businesses. The most exciting benefits of the Toast POS system are given below.
Toast POS system offers online ordering for $50 per month. Unlike other restaurant management systems, Toast is affordable and features routes client orders to the platform directly, preventing the staff from re-entry of data into the POS system.
Because Toast POS has a responsive design and supports mobile devices, you can use it for real-time business management. Your employees can access the menu, labor, and reports. You can also generate summary emails daily, streamlining metrics analysis and generating insightful reports. All this leads to efficient restaurant management and optimal business operations, increasing ROIs eventually.
Toast POS is an effective restaurant management system that offers reliable inventory management features. Using the system, you can monitor food inventory, units, prices, and suppliers from your desktop computer and Android device.
However, if you want a more streamlined and effective inventory control or management, experts recommend using KEXY, one of the most powerful inventory management tools available on the market.
What is KEXY Inventory Management?
KEXY is a powerful tool that you can use to perform efficient inventory control and management operations. The software is an ideal product that you can use alongside the Toast POS system to make your inventory and ordering operations easy, effective, and reliable.
If you want to achieve optimal communication, enhance transparency, and streamline transactions with your suppliers and distributors, look no further than KEXY. Because KEXY is a cloud-based system, it enables restaurant owners, managers, and employees to easily access inventory data from a remote location.
That way, you can search, locate, analyze, and use restaurant inventory spreadsheets (CSV files) and other data without wasting your time. Besides, it allows you to access essential and confidential business information or data related to product inventories.
Key Features of KEXY
KEXY is one of the most powerful and sophisticated inventory management tools that allow restaurant businesses to manage inventory and run supply chain operations smoothly. Restaurants rely on KEXY software to receive their orders on time and perform necessary actions accurately.
Research shows that most restaurants and retail businesses achieve 63% of inventory control and management accuracy. Because this is a pretty low number, it can lead to various complications and challenges for business. Thanks to the Toast POS system and KEXY, you can increase inventory accuracy by 95%.
Keeping inventory levels balanced is challenging for restaurant managers, meaning if you fail to check your inventory levels regularly, it can cause access or lack of necessary stock. Conversely, you can perform simple, quick, and effective operations with KEXY, enabling you to complement your Toast POS system.
Communication is a crucial aspect to maintain a perfect restaurant management system, meaning you need to hold stock levels or inventory levels accurately and consistently so that your sales department comprehends what’s available that it can sell to customers.
KEXY inventory management software enables you to search for vendors and communicate with them effectively without wasting time texting, sending emails, and making phone calls. Through KEXY, you can navigate a vendors’ network to find deals that best suit your business.
State-of-the-art Account Manager
Adding account manager users is an essential feature of inventory management tools, including KEXY, allowing you to add account managers with dedicated permissions. The software system enables you to perform a complete POS system analysis. You will get practical and reliable recommendations to streamline your operations, save time and costs.
The dedicated account manager offered by KEXY improves your customer service and complements your Toast POS system with a detailed restaurant inventory spreadsheet or sales reports.
You can also check your restaurant’s team performance. Your team has limited access to inventory data, meaning you can authorize or unauthorized your employees to add, edit, delete, or update inventory data.
KEXY is a cloud-based application that enables you to run your restaurant business and control your inventory data from multiple locations. The multiple-locations view is the most reliable feature of the KEXY inventory management tool to monitor and analyze inventory and transactions.
Besides, the product inventory setup feature helps you set up and organize your products, allowing you to keep track of your inventory and stock movements across all channels. The purpose is to reduce complications like “out-of-stock” incidences.
The high-quality cloud-based application also allows you to monitor your inventory for informed decisions in your restaurant business. That way, you can automate your supply chain and execute an order without involving human labor.
Safety and Security
Safety and security are essential features of all inventory management tools, and their purpose is to use your Toast POS system effectively. Because KEXY is a cloud-based management software system, you don’t need to backup data on storage devices.
Constant updates on the KEXY inventory management software ensures high-level security against hackers and cybercriminals. Thus, your business does not need to maintain the system on your restaurant premises, leading to cuts on capital investments and increased ROIs.
According to Forbes, over 700,000 restaurants use the Toast POS System to manage their business operations. Although it is an excellent restaurant management system, using it without KEXY can lead to various complications, especially those related to inventory management.
Lastly, the Covid-19 pandemic has affected the entire restaurant industry, and owners are unwilling to invest in POS or inventory management applications. In solidarity with the restaurant businesses, the CEO of KEXY has decided to offer the software for free.