Over the course of the last decade, the consumer experience has changed drastically thanks to the rise of new technologies. The goal of many of these technologies is to make interactions at the point of sale as frictionless as possible. These changes have been uniform across all industries, but especially in retail and hospitality. Mobile technology has put more power in the consumer’s hand. With a few taps on a smartphone app, anyone can order food or have it delivered, get a ride across town, or even have groceries delivered to their home.
Due to all of these changes, legacy POS systems are having trouble living up to customers’ expectations. So, what’s a restaurant to do if a traditional POS system won’t cut it? Let’s take a look.
Get Your Head in the Clouds
Change is a constant part of the consumer experience, dating back thousands of years. Prior to credit cards, physical currency was the big thing. Even before that, bartering and trading was the gold standard.
Every iteration or change has made for a smoother customer experience, which is why we’re now seeing a rise in subscription services and mobile payments. Mobile payments give consumers the power to make payments with a quick fingerprint scan or by typing in a PIN. Subscription services use automated payments to give consumers access to software, applications, and a variety of other products and services.
Those who believed online ordering would be the next big thing for the hospitality industry were thinking too narrowly. A variety of innovations have helped spur restaurants further, including delivery apps, tableside ordering, and loyalty programs. Restaurants have also begun to eliminate processing fees and give customers free Wi-Fi in exchange for some personal information. These services extend beyond the traditional POS and are very popular among customers.
Though the concept of payment plans is not new, consumer demands have restaurant owners flocking toward cloud-based restaurant operating systems. These POS systems come equipped with all necessary integrations and features, eliminating the pain of paying extra for every added bell or whistle. This more modern approach has led to many in the industry predicting the death of legacy POS systems.
Embracing the Switch
Just like consumers who have embraced subscription services, restaurant owners are beginning to understand the convenience of cloud-based operating systems. Traditional POS systems are slower to receive updates and add innovative technologies. Cloud-based systems, on the other hand, come with these advancements pre-installed. Adding additional features is as simple as making a few clicks and downloading the necessary files.
The price point of cloud-based POS systems is also a major benefit over traditional systems, which tend to be much more expensive. Restaurant owners – especially new owners – don’t have the cash to spend or may prefer not to open lines of credit. These days, restauranteurs much prefer smaller, predictable payments over large investments.
The cost to upgrade an older system so it’s PCI compliant could set a restaurant back up to $10k. Why stick with a traditional POS model when upgrades will set you back so much? Cloud-based systems don’t have these huge upgrade fees.
The Answer Is Simple
Innovations always win out sooner or later, and it looks like modular, cloud-based POS systems are the future for the restaurant industry. Upgrading or perhaps retrofitting a legacy system can be time-consuming and rather expensive. For the relatively minor price point and the access to cutting-edge features, cloud-based POS systems can take your restaurant to the next level.
Are you ready to ditch your old restaurant POS? Contact Leebro POS for a consultation or free demo.