3 Credit Card Processing Quotes You will want to Hear

For ten years, Tony dreamed of owning his own restaurant. He knew just what the menu would look likehe planned out the table and lighting settings in his head repeatedly, and he also knew precisely which credit card processor and restaurant POS to pick.

… Okay, so maybe he did not have that last decision performed in his fantasies.  But it is a decision that restaurateurs have to create before they can accept payment and make a profit.  When it is time to pick your credit card processing and restaurant point of sale system, do you have a plan of action to get the most out of your investment?

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Can Credit Card Processing Become An Investment?

We had a board of experts, including Matthew Mabel of Surrender, Inc. and Marc Thomas of Upserve, talk about the consequences of credit card processing on your bottom line. Long story short, we wanted to understand how restaurateurs could turn their restaurant credit card processing into an investment with additional business value.

“You do not begin a restaurant because one day you would like to opt for a credit card processor.” — Matthew Mabel, Surrender, Inc.

Beginning a restaurant is all about diving into exciting fresh waters, and this Dallas-based restaurant consultant would understand.  Restaurateurs like choosing credit card processors around as much as they prefer to choose insurance companies and chemical suppliers, he points out. This isn’t the fun part of the organization. They’re so incredulous about boosting their profits, they become obsessed with saving a quarter point, and all providers become a commodity that appears exactly the same to them.

This isn’t the best way to look at it, however.  Your decision on processing can end up bringing you value far beyond the capacity to take a card — and it should — should you choose wisely.

“If interchange goes up or goes down, your pricing shouldn’t change.” —Marc Thomas, Upserve

Charges for processing can eat up as much as 3 percent of the final bill. And Marc would understand — a former credit card processing firm owner himself. Understanding pricing arrangements, and the fees that come together, is integral to making a decision that could affect your bottom line, ” he says. You need to pick a pricing structure that is suitable for you. Challenge the business, he urges merchants, inquire how the charges are applied to your company.

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“No one needs data only for the sake of information. Actionable insights are very valuable.” —Matthew Mabel, Surrender, Inc

What can your credit card processor do to you outside a fantastic rate? Restaurateurs are bombarded with technology which was not available to them before, or just available to chains, Matthew points out. This is exciting if you can harness your management staff and arrange them to use these pieces to boost revenue, profit, and employee and guest satisfaction. A processor should explain how their services fit into earning money and strengthening a new, and what their point of difference is when they have one.

The better you can understand options and choices — the more you can decide how to take in technology that you can use.   It’s great having all this information but if don’t know how to use it, or your resources aren’t matching your requirements, then what you’re paying for is useless and only a new additional cost.

Nowhere is team unity more important than at a restaurant. With such distinct workflows in front and rear of the home, it has become all-too-common to find the disparity in efficiency and service, presenting issues that can affect the whole business.

Happily, it’s possible that you already have a solution available, in the kind of your own restaurant POS system.

If your company has already moved away from spreadsheets and handwritten notes and implemented a restaurant POS, then it is likely you have the tools required to improve communication and streamline operations. Here is how:

First, the front…

Obviously, in the service industry, customer satisfaction is job #1. Since the front of home is where first impressions are made, your point of sale system’s significance begins there.

It starts with your servers. Though most of the better wait staff members may recall huge orders effortlessly, the human factor can often play a role. On busier nights, with complex specials on the menu along with an infinite selection of unique dietary requests, orders can get confused, creating a logjam between the floor and the kitchen.

Implementing a POS system in your waitstaff’s routine generates a special opportunity to take orders effectively, without running the risk of missing important information. This is particularly critical for large groups and intricate menu schemes. A POS provides servers the opportunity to enter details in a fraction of the time it would take to handwrite orders while keeping an orderly demonstration for cook employees to follow.

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(Plus, it just seems more professional and modern to clients. The times of tear pens and pads behind the ear are long over.)

Once orders are taken and supported on a POS interface, they are delivered immediately to the trunk, without any confusion from shorthand, handwriting or inconsistent vernacular. Cook staff becomes precisely the information that they need, eliminating unnecessary gaps and the need for servers to leave the floor to verify order needs.

Hosts and captains can benefit in a similar manner. A restaurant POS system allows the front of house to rapidly assess floor designs, occupancy, traffic flow and kitchen workload in a few clicks, as opposed to countless measures through a busy restaurant. This affords them the opportunity to discover optimal seating and customer service solutions that accommodate guests while relieving the strain on staff.

Let’s not forget the back of home…

Though reality TV has certainly done its best, the majority of individuals don’t know precisely how frantic a badly managed back of home can be. Between busy workflows and frequently chaotic communication with management and waitstaff, it is clear how orders can get confused. The thing is that this confusion can all but guarantee disgruntled customers will not return after one bad visit.

As we have discussed previously, a restaurant POS system can shave valuable minutes off the turnaround between placing an order and providing an accurate meal. Messy, incorrect handwritten orders only postpone the understanding required for food to be prepared correctly, which not only poses the probability of unhappy clients but also losses which mount from food that is wasted.

POS systems may enhance communication, and can correctly monitor the time required to take, prepare, complete and send orders, providing management information on areas to improve moving forward.

This is where POS systems glow the most — in analytics for restaurants.  When correctly implemented, your POS can save valuable time in every area of workflow, sending specific information to the ideal regions of the line, eliminating unnecessary communication gaps in the trunk. Now, salad prep and appetizer stations only obtain the information they need, freeing up the chefs to concentrate on other areas.

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In turn, all stock and inventory replenishment needs can be addressed in real time, so direction can upgrade menus, correct specials and adapt to rush hours effortlessly. Clients will benefit from knowing exactly what is available from the beginning of the trip, while cook team will enjoy a calmer, more coordinated night at stake.

At the end of the night, a POS system for restaurants may quietly but efficiently deal with every area of your operations. After the front of home communicates with the back of home, fewer mistakes are made, and customers are happier resulting in repeat visits.

With competition in the hospitality industry at these high levels, and social websites feedback driving remarks of your restaurant, there is very little room for error. Your POS is much more than an”order taker” — allow it to work to unite communications across your restaurant, to guarantee the only feedback you get is positive.