Point of Sale Solutions THE NEXT STEP IN RESTAURANT TECHNOLOGY

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1 Point of Sale Solutions THE NEXT STEP IN RESTAURANT TECHNOLOGY

2 A BRIEF HISTORY From Cash Registers to POS Businesses are always growing - and technology has to keep up. Friendly competition inspires entrepreneurs to stay on the cutting edge of technology, advertising, and service. It s no surprise in today s digital world that there s a kind of software built to handle all three: the Point of Sale system. Technology has come a long way since then. The mechanical cash register, like the kerosene lamp, is a thing of the past. POS systems, on the other hand, are increasingly popular with restaurateurs, servers, and guests.

3 A HIGHER STANDARD The Growing Popularity of POS Systems POS is at the forefront of restaurant technology. Business owners love POS systems because they save time and money, while guests love to feel like they re getting the best possible service. A recent report by Grand View Research found that the global Point-of-Sale (POS) terminals market was valued at USD billion in 2015, and it is only expected to grow. In a similar report on POS market trends, Hospitality Technology s survey found that there will be substantive buying activity in The majority of restaurants [HT] queried (59%) are looking to add new functionality or features to their existing POS software. POS PURCHASING PLANS FOR Add new functionality, features and/or modules to current POS software 59% 67% Expand installation bae of POS software from a vendor currently being worked with Develop and/or deploy POS for use on a mobile device Test and research new POS solutions for possible implementation after % 38% 38% 35% 38% 46% Install POS from a new vendor 18% 19% There are a number of reasons for these planned upgrades. In 2014, when asked for their top reason for replacing their existing method or software, 69.6% of restaurant operators cited their desire for a mobile POS as one reason, and 62.5% wanted to enable new payment options. Almost half of all restaurants surveyed were interested in personalizing service for guests.

4 CHARTING INNOVATIONS A POS for Every Business Model As popularity grows, so does functionality. Programmers are racing to create faster, sleeker versions of POS software, so restaurants will always have access to the latest tech. Cloud POS systems, mobile POS, and built-in credit card processors are some of the latest innovations. CLOUD POS SYSTEMS can easily integrate with other platforms augmenting the value of both systems. Perhaps more importantly, they let managers store sensitive information in a safe place. This is vital for any restaurant that processes credit cards. Cloud POS systems allow managers to access reports and make changes to their menu any time, from anywhere. This saves time, money, and other resources in every aspect of business. MOBILE POS come in many forms. In some restaurants, servers can take orders on tablets that send information directly to the kitchen. FOH and BOH employees alike save time, and the margin of human error is vastly decreased. Other software allows customers to pay via phone, making takeout and online ordering that much easier for everyone. Guests are coming to take this technology for granted, because it is so widespread in the food industry. Always eager to serve, restaurants are working hard to meet that demand: 35% of retailers plan to invest in mobile POS in 2016.

5 PROCESSING CREDIT CARDS WITH A POS saves your business from having to reconcile multiple systems, and keeps guests data more secure. In an interview from 2012, Dana Bargell, the director of marketing at Specialized Business Solutions, told Business Solutions Magazine that old-school standalone credit card processing terminals...do not communicate with the POS system at all. This is terribly inefficient at the POS because sales clerks must enter sales in the POS system or ECR (electronic cash register), and then take payment using the separate credit card terminal. It s important for restaurants to use the fastest, most efficient technology available to keep up with guest expectations.

6 CONSUMER EXPECTATIONS Innovate to Impress Every Guest Technology has become an integral part of how Americans interact with their surroundings. The majority of consumers own smartphones, and the remainder still must interface with technology every day. Our culture is rapidly changing to incorporate technology s many uses, and it s important for the restaurant industry to stay current. A recent survey by the National Restaurant Association found that 79% of consumers say tech options increase convenience. 70% went on to say that restaurant technology speeds up service, and increases order accuracy. 45% even said that tech options make dining more fun! These numbers will grow as technology continues to integrate with the restaurant experience. CONSUMERS WANT MORE TECHNOLOGY OPTIONS 79% Say that tech options increase convenience Say tech options speed up service 70% 70% Say tech options increase order accuracy 45% Say it makes dining more fun 35% Will choose one restaurant over another 34% Say it makes them dine out more often We re beginning to see a loop in the popularity of POS systems - the more restaurants implement this software, the more guests will expect to see it in use. Restaurant operators are already in the habit of making changes to meet and exceed customer expectations - an excellent habit for the savvy business owner. As these two groups continue to influence each other, we can anticipate an exponential rise in the popularity of POS technology.

7 LOOKING TO THE FUTURE Point of Sale is Here to Stay Restaurateurs should invest in the best technology available. The POS retail market represents 92.6% of total U.S. retail dollar volume. Restaurant operators cannot afford to be left behind as this technology takes over the market. With so many options available, restaurateurs should take their time choosing the perfect technology to support their unique business model.

8 RESOURCES 2013 Retail Point of Sale (POS) Update and Forecast: Mobile and Prepaid Opens New POSsibilities - Aleia Van Dyke, Beth Robertson javelinstrategy.com/coverage-area/2013-retail-point-sale-pos-update-and-forecast-mobile-and-prepaid-opens-new Restaurant Technology Drives Consumer Decisions - National Restaurant Association restaurant.org/restaurant/media/restaurant/siteimages/news%20and%20research/restauranttechnologymay2014.jpg US Smartphone Use in Aaron Smith pewinternet.org/2015/04/01/us-smartphone-use-in-2015/ POS Software: Beyond The Cash Register - Pedro Pereira bsminfo.com/doc/pos-software-beyond-the-cash-register-0001 Brick-And-Mortar Retail Stores Are Going Mobile - David Crist pointofsale.com/ /mobile-pos-news/brick-and-mortar-retail-stores-are-going-mobile.html 2014 POS Software Trends - Dorothy Creamer hospitalitytechnology.edgl.com/news/2014-pos-software-trends89890 Embracing Disruption: 2016 POS Software Trends Report - Dorothy Creamer hospitalitytechnology.edgl.com/news/embracing-disruption pos-software-trends-report Point-of-Sale (POS) Terminals Market Analysis By Product (Fixed, Mobile), By Component (Hardware, Software), By Application (Restaurants, Hospitality, Healthcare, Retail, Warehouse, Entertainment) And Segment Forecasts To Grand View Research grandviewresearch.com/industry-analysis/point-of-sale-pos-terminals-market