10 Ways an iPad Point of Sale Provides Maximum ROI [Infographic]
Ever wonder what the return on investment (ROI) is on an iPad point of sale (POS)? Despite the growing competition that 21st century businesses face, many merchants hesitate when moving away from “simple” cash registers and legacy systems. To be competitive in the marketplace, it’s important to recognize the POS for what it truly is—the beating heart for your business.
10 Ways to Maximize ROI
1. Accelerated Speed of Service
Not only does slow service leave customers with a sour taste in their mouths, but it’s costing you resources and money. Even marginal increases over the course of a day can translate into massive returns at the end of the year.
2. Online Ordering
There’s no doubt that online ordering is reshaping the way that many companies do business, and consumers are hungrier than ever for the convenience. A recent study found that restaurants offering online ordering have seen their takeout revenue grow an average of 30%, while one in five watched that revenue double. If you’re not taking advantage of online ordering, not only are you missing sales, you’re likely losing them to your competitors.
3. Never Lose Sales with Offline Mode
In the same way that slow service hurts your business, outages with your credit card processor can impact your sales. Every customer that doesn’t have cash during an outage is lost revenue. With Offline Mode, you can continue to accept credit cards as payment even if your internet is down. When you’re back online, those transactions will be pushed through.
4. Discount and Upsell
Customers are always going to hunt for a bargain—whether it’s through a coupon or a sale. Apply discounts easily across all establishments to drive traffic, offload out of season inventory, and gain visibility into the which location has the best traction with particular items. If one is doing particularly well, you can easily transfer your inventory to meet the demand.
5. On-screen Tipping and Receipts
With the increasing popularity of fast casual establishments, tipping at the counter is now a customary practice. On-screen tipping is changing the game, resulting in an average tip increase of 116%. The ramification? Employee productivity increased 20%. Happy employees provide better service. Period.
6. Mobile Order Takers
Whether you run a busy quick service restaurant (QSR), a full-service restaurant, or a retail shop, mobile order takers improve service delivery. For QSRs, the benefit is cutting wait times in half, while full-service restaurants can improve service and ensure accurate and timely service. Mobile order takers in a retail environment can provide a more personalized experience for customers by bringing service to them.
| See Also: Maximizing Your Point of Sale |
7. Automate Inventory Tracking
Reduce waste and save time with automated inventory tracking. Ordering too much is eating into your margins, especially if you’re ordering products with a particularly short shelf life. Visibility into what’s being used and what’s not can improve your par levels and save you thousands over the course of a year. Additionally, when you automate the tracking, you can get alerts when you’re running low on items or ingredients so that you don’t miss potential sales.
8. Save on Hardware Costs
The cost of legacy POS systems can easily set you back many thousands of dollars up front between the price of each terminal and a back office server. And when they go down, they can shut down business. With an iPad POS system, the cost of terminals is significantly less, and with a cloud-based backend, you never have to worry about the cost of downtime due to your server failing.
9. Employee Management
Not only can you track employee hours with punch reports, but you can also better understand the value of each employee through sales and productivity reporting. This helps you better engage and nurture your team for maximum return on your labor investment.
10. CRM and Loyalty
Customer Relationship Management (CRM) is vital to business success in today’s marketplace. Easily capturing customer information and incentivizing purchases through loyalty programs can help you drive traffic when it’s most important to your store.
Check out our White Paper 10 Ways to Save Money and Grow Your Business with Revel’s iPad POS to learn more.