Key players in the (point of sale) POS restaurant management systems market are shifting their focus toward providing customized solutions to restaurant operators and owners, depending on their business operations. In addition, some players in the market are offering innovative POS systems for staying at the market’s forefront. For example – Intuit and Revel systems entered into a partnership for developing QuickBooks, a point of sales restaurant system that enables a restaurant in spontaneously syncing its payroll, inventory, sales payment, and CRM information.
Clover, PAX Technology, AccuPOS, TouchBistro, EPOS now, Ravel Systems POS, POSist Technologies Pvt. Ltd., Lavu, Verifone System, and Ingenico Group are key companies profiled by Transparency Market Research in its recent report on the global POS restaurant management systems market.
Global POS Restaurant Management Systems Market to Reach nearly US$ 30,000 Mn by 2026-end
According to the report, the global market for POS restaurant management systems will exhibit a spectacular expansion throughout the forecast period, 2017 to 2026. Global sales of POS restaurant management systems are estimated to account for roughly US$ 30,000 Mn revenues by 2026-end.
POS systems have been significantly enhancing the performance of restaurants since the recent past. These systems have transformed into being an essential part of restaurants for registrations of payment receptions, discounts on cash register, and sales operations. POS systems help restaurant owners in improving efficiency by reducing the time order generation, cutting down errors particularly during peak hours of service, and lowering time per transaction.
Several advancements have been witnessed in POS restaurant management systems. The increasingly popular electronic point of sale (ePOS) systems are enabling restaurant operators to make huge savings in cost and time. Moreover, all-in-one POS systems are gaining prevalence in restaurants that offer pre-order or takeaway food services. The all-in-one POS systems are placed usually at the restaurant’s entry, allowing customers in making orders and payments independently.