In today’s hospitality environment, people want to be served as quickly and efficiently as possible. Having the right point of sale (EPoS) system is vitally important – to help support speed of service, but also to attract customers, and to keep them coming back.

Integration now plays an important role – technology providers are creating seamless offerings at the PoS, which includes reporting, CRM, loyalty, supplier management and finance. It’s about managing multiple applications on one platform – in order to help hospitality providers offer the best service in what has become a hugely competitive market.

Here are some top tips when it comes to EPoS technology and creating financial success within the hospitality environment:

1) Financial accuracy

An EPoS system will reduce the likelihood of customers being either under or overcharged, which can have an impact on the overall bottom line.

2) Speed of service

Integrating card payments at the PoS will ensure a speedier and more accurate service, helping to maximise sales opportunities, but also encouraging repeat custom.

3) Stock management

Businesses – of any size – should have the ability to tap into a powerful back office that automatically takes care of stock inventory, wastage and profit and loss down to an individual ingredient. This should all happen in real-time, so stock can be replenished with no interruption to service, maximising takings and profits. This will also help the hospitality provider to understand wastage trends.

4) Accountability

Hospitality providers need a system that can help them to actively monitor staff activity, for example: to gauge which member of staff is performing well. Or, conversely, to identify unusual patters or trends, such as a high number of void transactions.

5) Real time reporting

Having the ability to see the peak selling times of the day, as well as the daily and annual profit margins, means the hospitality specialist can see what is really going on in their business, and therefore adapt accordingly.

When selecting a system, I’d always advocate one that is simple and intuitive – given the high staff turnover rates within the hospitality environment. Equally, there shouldn’t be any hidden costs, for example when it comes to an upgrade.

An EPoS provider should be there to act as a partner, to support the business and its potential growth. Even support tasks, like directly swapping out equipment, is more time and cost effective – negating the need for an on-site engineer.

At the end of the day, it’s about saving time and money and helping to grow the bottom line.

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