POS is the key

Written by: Andrew Levey

The importance of Point of Sale (POS) data to the hospitality sector
Of all the information that flows through a hospitality business, Point of Sale (POS) data is both the most dynamic and the most powerful – as long as you use it right. When you plug it in to other sources of data, it has the potential to help you make better decisions, operate more efficiently and provide an unbeatable customer experience.

Naturally, your starting point is having the right POS system. These days, the range of features is almost endless, from integrated chip and PIN to handheld devices, from kitchen management (QSR) to time and attendance records. All of these should improve service, reduce the need for manual intervention and cut avoidable errors.

So, while you may have a POS system, how do you know if you’ve got the right one? It’s worth asking yourself a few questions about what you want to do with your POS data, what your current system lets you achieve, what features you need but don’t have, and how much it is currently costing you.

A good system should achieve three things:

  1. It should be fully integrated into your enterprise solution, including back-office applications such as inventory, labour management, forecasting and kitchen management.
  2. It should be integrated into your Business Intelligence (BI) or analytics application, providing transactional data for insight reporting.
  3. It should be integrated into your loyalty/CRM application, providing transactional data for optimising loyalty and promotion algorithms.

The good news is that the Fourth platform integrates seamlessly with POS systems to provide a range of capabilities, including forecasting and planning, inventory management and workforce planning. Our Fourth Analytics solution also provides valuable insight down to the transactional level.

Get the right POS system working and you’ll see how the benefits reach every corner of your operation.

For more detail on the right POS management download our Recipe for Success

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