Restaurant Glossary
Point of Sale
Restaurant space is full of words that one might not be familiar with, and the restaurant glossary is here to simplify it all for you. It will help you keep up with updated restaurant industry lingo.
What is a point of sale?
A point of sale is a system in which the staff enters in the order and each sale is recorded.
You can collect payments from clients and track sales with a POS system. It sounds easy, but depending on whether you sell online alone, have a physical location, or both, the setup may operate differently.
A cash register at a store is referred to as a point-of-sale system. Since all current POS systems are digital, you can check your sales from anywhere. A POS app and an internet-capable device, like a tablet or phone, are all you need.
How does a POS work at a restaurant?
Today, almost all POS systems combine restaurant management software with ordering and payment processing. Moving toward virtual terminals via mobile, tablet, and even phone-based systems is the current trend, as opposed to big restaurant computer systems.
Restaurant servers can enter orders and process payments whenever and wherever customers are ready thanks to point-of-sale (POS) systems that they may carry throughout the restaurant.
The shift to mobile was already a trend before COVID-19, but it has unquestionably picked up speed since then. There are more contactless ordering and payment options available with these mobile-based platforms. The majority of the top POS systems support mobile devices like tablets or smartphones.
What are the different types of POS?
A point-of-sale (POS) system is a tool that enables businesses to handle daily business operations and accept payments. Smartphones, tablets, mobile POS, card and chip readers, touch displays, laptops, self-service kiosks, and terminals are just a few examples of the various kinds of POS devices available. Barcode scanners, cash drawers, keyboards, and receipt printers are some of the other POS-related devices.
- On-site Server
This technology is found physically in stores and requires an on-site server. In crowded areas like supermarkets, restaurants, and other businesses, this approach is frequently used. This approach is practical since it makes essential operations quick and simple.
- Cloud Computing Terminals
A cloud computing terminal is the most cutting-edge point of sale system you can purchase. Since your provider is in charge of your server, you do not need to install one in your shop. If there is an issue with the system, the supplier will fix it for you. Instead of manually producing backups and maintaining your server, you will have more time to handle your business. The data stored in the server can be searched anywhere, at any time, and is secure. Owners of multiple stores will find this beneficial because it allows them to access information about each store’s inventory and reports at one place.
- Mobile Terminals
A credit or debit card reader is used to complete transactions. Any mobile device can function as a point of sale system by downloading a mobile transaction application. For small businesses that do not have a sizable initial budget to invest in their point of sale system, mobile terminals are a viable option.
- Self-service Terminals
When using a self-service terminal, the customer handles all of the transactions necessary to get a good or service. Large customer businesses who need to complete transactions quickly can consider investing in that kind of terminal. Although it might not be the best option for every business, this terminal type is intriguing for establishments like supermarkets, movie theatres, and fast-food franchises.