Modern POS systems can work as the brains of a restaurant. They have many more features than a standard cash register. But how much do these cost?
How Much Does a POS System Cost?
The POS industry is a booming market that is expected to see continuous growth. In fact, the POS (Point of Sale) industry is projected to be worth $29.09 billion by 2025.
So, how does this affect your restaurant?
POS terminals are an important facet of running your restaurant. Back in the day, a cash register is enough to run a restaurant. But with the advance of technology, a vanilla cash register is now obsolete.
Nowadays, POS terminals have advanced features like built-in credit card readers and employee management software. With so many embedded tools, restaurants with newer POS systems can have a smoother day-to-day operation cycle. Given all these handy features, you have to ask: How much are POS systems?
To help give your restaurant a competitive edge, we will discuss some of the features of newer POS systems and how much they cost.
The Main Types of POS Systems
Before getting into the nitty-gritty of specifications and prices, you need to decide what POS system works for your business. There are 2 types of POS systems you can choose from—an on-site system or a cloud-based system.
Let’s take a look at the differences between them.
#1 – On-site POS Systems
An on-site POS system involves having the system’s main components within your restaurant. This means there needs to be a desktop or laptop in your restaurant running the system. The main benefit of having an on-site system is that the operation records and data will be stored locally. Basically, you’ll have immediate access to all information.
The downside of an on-site system is the cost. You will need to account for the cost of a local computer to run software and store data. Furthermore, this type of system is more suited for a singular restaurant. Because on-site systems need hardware to operate, a second restaurant would need another computer to run its own POS system.
Depending on the scale and type of hardware, on-site POS systems can cost between PHP150,000 to PHP2.5 million annually. Given the high cost, many restaurant owners struggle to justify buying this type of POS system.
#3 – Cloud-Based POS Systems
Unlike the on-site POS system, cloud-based systems don’t require dedicated local hardware to operate. Every transaction and data handling will work via the internet.
The primary benefit of a cloud-based POS is the easier set-up process. Because everything is running through the cloud, you don’t need dedicated, local hardware to run to software. Even a tablet would be able to access the system. Additionally, cloud POS systems benefit from remote operations, allowing multiple restaurants to run from a single cloud-based system.
The disadvantages of a cloud-based POS system also come from its nature. If you lose access to the internet, your operations will be disrupted. Also, since your data will be stored in the cloud, it could be more susceptible to data breaches.
On average, cloud-based POS systems can cost between PHP2,500 to PHP5,000 per month. Or they might have a one-time installation fee of between PHP50,000 to PHP75,000. As such, they’re far more affordable for small business owners.
Most Popular POS Systems in the Philippines
After deciding the type of system appropriate for your business, you now have to decide which POS software to use. Each provider will have different benefits and costs, so let’s delve in and take a look at some of the more popular POS providers.
Square is a POS software that is popular for smaller businesses. Square doesn’t charge a subscription fee, but Square will take a small fee for each transaction. With Square, you will have an unlimited amount of users, but each register will need an individual software license.
Square offers additional features that make it an outstanding POS software. For instance, the software allows you to keep track of your inventory from within the app. Additionally, it has an all-in-one system where you can handle the operations of your business that include payroll and team management.
Vend is a POS software that is touted to be one of the most user-friendly options on the market. Vend offers a subscription fee of PHP5,000 per month for the standard license, with additional costs for more feature-rich subscriptions. The Lite Vend plan limits one user per account, while Pro and Entrepreneur subscriptions have an unlimited amount of users.
Vend features services that allow you to account for your inventory across multiple stores. Furthermore, the software has robust cash management services that can accurately track each transaction. Vend’s easy operations also allow easy training of staff.
Mosaic Solutions provides services to assist vendors, including POS software. Mosaic offers consultation to help you find the right tools to optimize your business. Furthermore, by contacting Mosaic, you will get a chance to demo their POS software with a 3-month free trial—so there’s no risk on your part.
Through Mosaic, you can use features such as remote changes. Through a single device, you can adjust the pricing and contents of your menu. Additionally, the software features a real-time sales assessment where you can get an overview of your best-selling items and highest-performing outlets.
Additionally, Mosaic has far more in-depth analytics to help you with everything from inventory management to menu optimization. Through Mosaic Solutions, your restaurant management will be made easier and save you time.
That way, you can focus on what you need to do most—create delicious meals and provide excellent customer service to your guests.
POS Systems in the Philippines
These days, a cash register isn’t adequate for restaurant operations. Restaurants need additional services to make POS operations easier and more accommodating to their customers. And if you’re running multiple locations, a cloud-based POS system is essential to track everything properly.
With a feature-rich POS solution, your day-to-day operations can be optimized. Through features like inventory tracking and remote price adjustments, you can keep your restaurant running just from a tablet! Having an up-to-date POS system can help your restaurant have a competitive edge.
Start your restaurant journey with Mosaic Solutions’ POS software solution and so much more. Contact us today!