August 2023 – How to determine the best POS system for your company?

By Mystique Company  Published On August 6, 2023

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When opening  a new restaurant, deciding the best POS system for your business is an integral part for success. It is the center of all operations from receiving orders, payment, menu set up, integration and analytics. With various companies offering a large number of options for such systems, many restaurant owners are left unable to make a decision. 
What are the key points restaurant owners should consider when deciding a POS system and provider that works for their business? In this article, we will explore some key points that will help you make decisions.


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POS Offerings Based on Business Needs

Compared to when traditional customer-facing POS systems were the go-to system, the pandemic has encouraged POS companies to develop different models, with changing customer preferences.

1. Customer display POS Customer display is the most popular and widely used POS. During the pandemic, companies have incorporated touchless payment options to avoid cash and credit card handling. This is the best type of POS system who owns a traditional counter ordering QSR.
2. Handheld terminal POS There are two types of terminals that make up handheld POS. You can have a device to take orders and a payment terminal to take payments in which both of these transmit information to the central brains of the system. This is most suited for sit down restaurants that require table service.
3. Self service kiosk Self serving kiosks became largely popular during the pandemic in fast food restaurants. A touch screen kiosk to place orders, process payments and print receipt allows customers to order on their own. This is most suited for QSR that wants little to no interaction, speed up service and cut labour cost.
4. Table ordering As contactless service has become one of widely used business standards, table ordering has seen an increase in usage among QSR. Companies have made it possible for customers to order at their table through QR codes and online ordering platforms which are directly connected to the restaurant’s POS.

Features and integrations

 Many POS companies have an add-on model where they will only offer the bare minimum service otherwise. Below is a list of some add-ons restaurant owners might consider including in their service agreement in order to cater to their business to enhance the operation.

  1. Inventory management
  2. Employee management
  3. Reports and Analytics
  4. Customer data management (marketing)
  5. Kitchen display systems
  6. Loyalty programs
  7. QR code and online ordering 
  8. Accounting software
  9. 3rd party delivery apps 
  10. Multi-location management

Training and Support

It is always important to understand what type of training and support the company offers. Will they offer on-site installation and training, and will they be available 24-hours if anything goes wrong? Will you be contacting your account manager who needs to direct you to the IT team, or do they have a 24-hour direct telephone line with tech support? These are things to be considered, as it is almost impossible to run your business without a working POS system!

Final Cost Breakdown

Even if a POS system has everything you have, the ultimate deal breaker is the monthly/ yearly bill! Below is the breakdown of what consists of your bill for your POS system.

  1. One-time fee and monthly cost (Some companies offer discounts for upfront yearly payment!)
  2. Hardware cost (one-time vs. monthly; purchase or rental)
  3. Software cost (add-on costs)
  4. Transaction fees from online ordering integration (QR code and online ordering platform, delivery app fees)   
  5. Fees for payment processing companies (set up charge, monthly charge, transaction fees)

By carefully considering these key points, restaurant owners can make informed decisions and choose a POS system that aligns with their business needs, ultimately contributing to the overall success of their restaurant. Although there are much more to consider when choosing the optimal POS system, Mystique Company is always open for consultation to help your business make the right decision.