Page 9 - Ohio Restaurant Association Summer 2022

CONSIDERATIONS FOR CHOOSING A CLOUD- BASED POINT-OF-SALE SOLUTION
Today’s cloud-based point-of- sale (POS) systems do more than just accept payments. They serve as the hub for all aspects of business operations. With so many POS solutions on the market, choosing the right one for your restaurant can be challenging.
include accepting all payment types, 24/7 access to your data, extensive reporting tools and more. Cost
Unlike legacy POS solutions where you pay costly fees for additional hardware to accept payments, a cloud-based POS solution requires a monthly subscription fee for access to the software. Be sure
to look at the different plans and features offered and ensure there aren’t any hidden fees.
Flexibility and Scalability
Not only should your cloud-based POS solution provide the flexibility to adapt to changing business
climates, but it should also be
built to scale and grow with your business.
Security
To help minimize the risk of
fraud and reduce the chance of
a data breach event, here are
a few key card validation and security features to look for: EMV, Tokenization and end-to-end encryption.
These are just a few considerations to look for when shopping for a POS solution. For more detailed information, visit: ohiorestaurant.org/elavon.
Ansley Kilgore
U.S. Bank | Elavon
Here are a few considerations to look for in a POS solution that can help streamline your operations and boost your bottom line. Features
When looking for a POS solution, it’s important to look for features that meet your specific needs.
A few features to keep in mind
THE EMPLOYEE RETENTION CREDIT
SURELY YOU HAVE HEARD ABOUT THIS BY NOW!
Haven’t heard about the Employee Retention Credit (ERC)? Then you need to read this. If you have heard about it, but were told by a well-intentioned CPA, payroll provider or a friend that you did not qualify – you are in the right place.
Simply put (and this is a complicated program thanks to the IRS) the ERC was established by the (CARES) Act in March 2020 to help businesses retain employees.
THE PROBLEM:
Almost everyone thinks you had to see a decline in revenues during 2020 and 2021 to qualify, and this
is just not true. Many of our clients qualify based on government orders alone OR a combination of revenue and government orders.
Eligible businesses, both for-profit and not-for-profit, that experienced a full or partial government-ordered suspension
of operations OR a "significant" decline in gross receipts in any quarter could receive a quarterly refundable payroll tax credit. This comes in the form of checks sent to you by the IRS.
Because ERCs are refunds of payroll taxes, not loans from the government, they do not have to
be repaid and are unrestricted in how they can be used. With rising food costs and labor challenges you deserve to know if your business qualifies for this money, and we want to help.
If you would like to speak with a representative from our company, please call us today!
John Thomas
ERC Application
Larry Beal – 740.263.4053 David Cepek – 740.597.1500 John Thomas – 740.263.4174
john.thomas@ercapplication.com Visit ohiorestaurant.org/erc-
despite inflation driving increased ingredient costs, which have been partially absorbed by higher menu prices, American consumers continue to support restaurant workers with larger tips. This is welcome news to restaurant operators, but the truth is navigating menu price changes and improving profit margins is tricky in normal times, let alone during rampant inflation. To tackle inflation at your restaurant, consider these three strategies.
1. Look to reduce costs by 86ing poorly-selling items from your menu, consolidating suppliers to get lower prices on bulk orders,
and adjusting your operating hours and staffing.
2. Lean into technology to improve efficiency while freeing up your front-of-house staff to provide a great guest experience. Solutions like handhelds, QR codes, and integrated online ordering can help you serve more guests with fewer servers and reduce costs from third-party online ordering commissions.
3. Don’t be afraid of increasing prices. Just make sure you’re
in line with local competition— including grocery prices. Also be sure to keep an eye on how pricing changes affect your bottom line by
monitoring your POS reporting, as well as the guest experience by monitoring your online reviews. Are customers complaining about the increased prices or trading off to buy less expensive menu items? If so, be ready to adjust.
application to learn more.
HOW RESTAURANTS CAN FIGHT INFLATION
Inflation and price changes in the restaurant industry are inevitable. But with the right technology
and information, you can take a strategic approach to tackling inflation that helps your bottom
Kevin Bryla
SpotOn
line and keeps your guests happy. Learn more at SpotOn.com/restaurants or at ohiorestaurant.org/spoton.
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