4 ways tech can help restaurants battle against inflation

4 Ways Tech Can Help Restaurants Navigate the Battle Against Inflation

4 Ways Tech Can Help Restaurants Navigate the Battle Against Inflation

Between the pandemic (and resulting restrictions), supply chain issues, and labor shortages, restaurants have had a tough few years. And just as the dust was beginning to settle, an even bigger storm has been brewing: inflation. From the price of ingredients to increases in wages, rent, and everything in between, operating costs have skyrocketed across the board. Many restaurants operating on already thin margins are being stretched to their limits as owners try to recover from pandemic shutdowns and major industry shifts. 

As inflation soars, restaurant owners must get creative to optimize efficiency and cut costs where they can. Much like the early stages of the pandemic, which saw industry-wide shifts to new business models such as curbside pickup and third-party delivery, tech is instrumental in allowing restaurant owners to adapt and overcome challenges. Armed with the right POS system, you can improve service, boost sales, increase efficiency, and cut costs to win the battle against inflation. Here’s how. 

Improve Service and Reduce Errors/Send Backs 

Now more than ever, customer loyalty is essential. Customers are dining out less than they were pre-pandemic, and they’re choosing restaurants wisely. Their expectations for a good dining experience are high, so restaurants must do everything they can to ensure that everything goes smoothly. A point of sale system ensures that orders are taken, entered, and sent to the kitchen seamlessly, allowing restaurants to cut down wait times, reduce errors/send backs, and ensure customers are satisfied to keep coming back for more.

Offer Cash Discount, Pay No Merchant Fees 

With prices of just about everything increasing, costs never seem to stop adding up. Between inventory, repairs, equipment, and everything else, it can be hard to find areas to save, especially when it comes to merchant fees. Credit cards are the norm — but processing fees are nearly impossible to avoid. They’re also one of the many things that could be eating into your margin. 

But not anymore. By offering a standard total and a discounted total for cash payments, restaurant owners can skip the processing fees and help customers save money. With RPOWER Advantage, you’ll have the ability to automatically accept different prices for cash and non-cash transactions, without employees needing to authorize or re-calculate check totals.

Inventory Replenishment At The Best Prices

Whether you have a simple, refined menu or a large one that caters to all of your customers’ tastes, it can be tough to keep track of all of the inventory needed to run your business. Food waste, over or under-ordering, and price fluctuations can all eat into your profits, so it’s essential to have a point of sale system that can help you optimize your inventory. 

The right POS can help track ingredient stock and analyze order/pricing data to determine optimal times to replenish your inventory. With this technology on your side, you’ll be able to cut costs, get the most out of your inventory, and more accurately forecast both costs and revenue.

Reduce Operational Costs

As costs rise and profits fall, there is less room for error and inefficiency in restaurant operations. With higher costs and even fewer customers, restaurants can no longer afford to guess when it comes to scheduling, ordering, menu planning, or any other part of their operation. 

A point of sale system is an essential tool that helps owners streamline every aspect of their restaurant operation, ensuring all of their resources are allocated efficiently. Some of the many benefits include:

  • Tracking and analyzing customer preferences
  • Forecasting staffing and inventory needs
  • Optimizing menu to eliminate unnecessary food and labor costs
  • Allowing customers to input orders directly from their table, phone, or kiosk

Final Thoughts

Times are tough for restaurant owners, but there are a handful of tools that can help them weather the storm. Technology was key in helping owners adapt to the shifts caused by the pandemic, and proved invaluable for restaurants of every shape, size, and style. 

As inflation continues to affect almost all aspects of restaurant operations, choosing the right POS has never been more important. With RPOWER POS, you can reduce costs, drive efficiencies, and boost sales. Our industry leading software ensures unmatched flexibility, reliability, and speed for today’s thriving restaurants.

Want to learn more about choosing the right POS for your restaurant? Download our Restaurant POS Buyer’s Guide to help you determine which solutions are best and how you can leverage a restaurant POS to grow your business.

Have any questions? We are happy to help!