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Ways to use Point of Sale reports to improve your Business

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A valuable tool within your business is your Point of Sale software and the reports and capabilities that most have built in.   A valuable POS system will allow its users to pull a numerous amount of reports from the data it stores, and some even allow you to create and save templates with more personalised fields that relate to your business.  

Most users will then use these reports from a financial prospective, they will use them to track daily sales, cash or eftpos, see quantities sold and some have implemented thorough stock control to always have an insight into stock on hand.  But what if you could not only use the reports to look into your businesses past but also use them to help predict what could be.

By doing things like using master products you can get a report that will tell you how much of an ingredient you have gone through within a certain time period and this can become a valuable way of predicting appropriate future order quantities. 

Some ways to use reports that can help your business.

Better evaluate staff

Reports for staffing entries can help your business identify and rectify a few key factors within your internal work flows.   

By having your your staff clock in and out for each sale that they complete, you can then obtain an in depth look into performance markers and evaluate their overall position.  This not only becomes the perfect solution for tracking personal sale amounts for each staff member but also a way of seeing mistakes and voids on sales that could be a reoccurring issue. 

Benefits of having this data at your disposal means that if you offer your staff an incentive for up-selling  a product or pushing a special you will be able to use these reports to accurately determine who has sold the most.  Also by being able to track voids to a certain staff member you then discover if these are mistakes that better training can fix or another issue that needs identifying. 

While having your staff clock in on the POS at the start of their shift and out at the end may not provide you with all the appropriate hourly rates for their pays just yet, it does become a valuable tool in seeing if staff are completing full, on time shifts.  Given some may forget to accurately time on at times, but this tool can be beneficial in determining those who are always late for shifts so you can deal with accordingly. 

Find items that sell and ones that don’t

With reports and your dashboard you can use it to really look for the most popular items within your venue and in turn find the ones that may be under performing. 

Track your businesses trends and offer more of what your customers are actually purchasing and wanting within your venue, use this to create tailored specials or up sells that would actually work and better manage the stock levels so you will never run out.  From here you can also identify the products or menu items that may be under performing and use this information to evaluate whether moving the product via an in house special helps the numbers or look to clear them out from your inventory or off the menu and, in turn, create more room for the faster selling lines.  

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Hourly productivity

Another beneficial report to review regularly is an hourly breakdown of sales.  Generally you would know when your quiet times are and when your peak hours begin but it is easier evaluate when you have actual data figures to back it up.

From this report you will be able to get a pretty clear indication of the hours or days that you may have a lull and closing early may be a way to decrease wages with minimal effect to your customers.  Or, with the busy hours, you can  use this to identify the times when you may need an extra staff member to help through those peak trading hours. 

If closing early isn’t an option you could also look at implementing a time specific special that could help to boost those hours where sales are slower and effectively review results.    

Wastage

Wastage of food is a huge problem for not only your own business but for the environment as well.

In Australia alone we throw out a whopping 4 million tonnes of food every year, enough to fill 8,400 Olympic sized swimming pools. 

So obviously the optimum would be to keep this at a bare minimum but that being said it is not an easy task, especially in the unpredictable world of hospitality. 

Using your POS to track your wastage is a great way to review and evaluate your problem areas. Maybe you are over ordering certain products or find that on certain days your sales are slightly slower, so you can use this data to appropriately adjust stock levels relevant to these reports. For more information on ways to reduce wastage see also another article we have 5 ways to reduce food wastage in your Restaurant.

If you want more information on how your Point of Sale system can help you to better evaluate your business's performance then contact the Team at Creative who will gladly show you more reporting functions you can use.