Wingman Weekly: Outdated Point of Sale Systems
How much are outdated point of sale systems costing you in time and money? Quantifying potential time loss is a eye-opening realization. Registering button presses, authorizing credit and debit card, or passing a payment device for the customer to pay wastes precious seconds for business owners. 3-5 seconds doesn’t sound like a lot of time alone, but when businesses see dozens to hundreds of customers in the span of an hour, that’s 3-5 seconds per customer. 3-5 seconds wasted per transaction over one hundred transactions adds up to 5-8 minutes of time.
Money lost is a harder number to quantify, but we can identify warning signs that let you know you are losing potential revenue. The most obvious is when customers can’t pay how they want to. Do your customers ask “Do you take [payment type]?” and leave when you don’t? Potential revenue is walking away.
Another problem outdated point of sale systems have is troubleshooting issues. If your terminal is having one or more issues a month during operating hours that is a problem. If the issue on the machine is ever downtime and you can’t take payment, then the issue compounds.
Time loss is the third major warning sign. While quantifying time lost was simple, converting that to money lost is more complicated. The simple answer is customer satisfaction generally lets you know how bad the problem is. If many customers during rush hours are complaining to your staff—or leaving the line altogether—this isn’t a problem you can ignore.
If you are interested in industry leading restaurant or retail solutions that Wingman Payments offers, Contact Us 470-822-8683.
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