Selling POS Technology in the Restaurant Industry: The Best POS to Close More Sales
The point of sale (POS) industry is continually evolving, and when it comes to selling technology in the restaurant industry, the competition is always increasing. In order to run a successful business, value added resellers (VARs) need to be smart when choosing a software partner, as these partners provide the solid foundation needed to gain trust with restaurant managers.
It’s important to thoroughly vet any independent software vendor (ISV) before beginning a partnership with them. Pay close attention to a few key factors:
Here to Stay
Technology in the restaurant industry is ever-changing. There is a tremendous amount of convergence through acquisition in the POS industry, so it’s important to make sure that your partner has a long history and a commitment to innovation.
When you choose a partner with an established history, there is a far greater chance that they will be around for the long haul, which builds trust not only between you and the ISV, but between you and your customers. A solid partnership with the right ISV shows prospective customers that they can trust that the product they are investing in is connected with a high-quality company committed to innovation that understands the needs of the restaurant industry.
Merchants are often sold short by companies that prioritize doing the bare minimum necessary to acquire for example, credit card business. In the long run, this saves the merchant neither time, nor money, and harms your relationship with your merchant when things go south. Look for an ISV that shows dedication to their software by remaining processor agnostic, thereby equipping the reseller channel to better service their merchants.
Unmatched Vendor Eco-System
The last thing you should do as a reseller is pigeon hole yourself by limiting your options with software that lacks the ability to integrate with other technology in the restaurant industry. Your ISV should provide software that integrates with a wide variety of solutions for online ordering, gift and loyalty, payment processing, and a whole host of other solutions.
Each client is unique, with individual needs that must be addressed, so with a broad range of integrations available, you are more likely to be able to address all of them. Try to select an ISV with as wide an ecosystem of integration partners as possible. This increases the chance that you can provide a solution that works with your customers’ needs, and your business benefits from the add-on solution revenue.
Freedom of Choice
Every potential customer has a different budget they are able to work with. That shouldn’t stop you from being able to help them all. The right ISV partner understands that there is no one price point that works for every business. They will give you the flexibility you need to offer pricing that can accommodate each customer’s budget.
Technology in the restaurant industry can be expensive, which is why more and more restaurants are turning to subscription-based software. This provides all of the support and benefits of software, but on a month-to-month basis. This monthly software subscription is very attractive to restaurant managers because it keeps them from having to shoulder an up-front cost and works well with their budget.
Additionally, look for an ISV that is “hardware agnostic” providing you the flexibility to help your merchants select the right hardware for their hospitality concept. With minimal system requirements, you’ll be able to source hardware that will not only optimize margin, but also provide the functionality required for merchants to deliver exemplary customer experiences.
Superior Redundancy for Peace of Mind
Disasters strike. Catastrophes happen. Technology in the restaurant industry can be affected by a number of factors outside of your control. There is no way to predict when something could occur that may affect business data. Therefore, it’s critical to make sure that the ISV you partner with provides the superior redundancy that helps your customers rest easy, knowing that if a disaster should strike, their data and files are backed up somewhere, and somewhere else, and somewhere else.
The competition is only increasing for selling technology in the restaurant industry. To gain an edge and close more sales, it’s important to thoroughly research and carefully select the right ISV partner – because ultimately, the best way to close more system sales is to have a superior product on your line card. RPOWER offers the solution your restaurant customers are looking for, with more than 100+ integration partners, superior redundancy, training, and marketing packages, as well as generous margins for your business.