Restaurant POS System Trends to Look Out for in 2019

2019 is all about connectivity when it comes to POS systems. The role of the POS system, used primarily for billing, has evolved into an operations hub that connects all your online order sources, guest-facing technology, and your kitchen (via Kitchen Display Systems). It’s the foundation of a technical system that helps you manage your restaurant operations better on the whole. Here are the cutting-edge trends.

LBMA Vidcast: Amazon Go Takes Cash, Macy’s Launches ‘Story’

On this week’s Location-Based Marketing Association podcast: Goodwill, Bose + Coachella, Improving traffic with “Flo,” Amazon Go takes cash, Macy’s launches “Story,” Uber goes B2B with vouchers.

Toast Raises $250M, Securing Lead Position in Restaurant Management Software

Restaurant management software provider Toast announced $250 million in additional funding on Monday, valuing the firm at $2.7 billion and cementing its lead position in the SaaS market for restaurants. TCV and Tiger Global Management led the Series E round.

AI Technology is Getting within Reach for Small Restaurants

Rodion Yeroshek: The majority of restaurant businesses, especially the small ones, remain slow adopters and non-adopters of AI technology. People may think that the introduction of AI in small restaurant operations is nothing more than jumping on the bandwagon. However, research on the impact of AI on the world economy by McKinsey Global Institute warns the naysayers. The research predicts that by 2030 active adopters of AI technologies could double their cash flow, while non-adopters could lose up to 20% of theirs. This is a hint for restaurant managers who plan to stay in business for the next 10-15 years that it’s time they embrace AI tools or prepare to lose a big part of their market share for good.

This Solution Showcases the Future of Collecting Customer Feedback at POS

Online reviews are one of the hot trends in local, reshaping how brick-and-mortar businesses stand out when trying to attract nearby customers. Tapping into the local Zeitgeist in a different use case, TruRating and GK Software are integrating their tech to allow businesses to garner feedback from their customers at the point of sale.

No Wallet, No Problem. Yombu Scans Your Fingerprint for Payments, Loyalty Rewards

Credit cards made it possible to leave cash behind. Then, digital wallets like ApplePay let you leave home without your wallet. Now, Washington, D.C., startup Yombu is making it possible to pay and get access to membership rewards with just your fingerprint.

Street Fight Daily: Facebook May Have Knowingly Inflated Video Metrics, Programmatic Prices Rise

TODAY IN LOCAL & DIGITAL MARKETING AND MEDIA… Facebook May Have Knowingly Inflated Its Video Metrics for Over a Year… No Wallet, No Problem. Yombu Scans Your Fingerprint for Payments, Loyalty Rewards… First-Price Auctions Are Driving Up Ad Prices…

TruRating, Verifone Deal Highlights Importance of Customer Feedback Data

In a move that highlights just how important customer feedback data has become to mid-size businesses, the global payments and commerce juggernaut Verifone recently announced that it’s partnering with TruRating, a comparatively small but influential customer insight company that specializes in point-of-sale customer feedback solutions.

With Yext Integration, ShopKeep Looks Beyond Payment Processing

More than 24,000 small businesses using an iPad-based point-of-sale system from ShopKeep now have access to online presence management tools from Yext, thanks to a new partnership between the two firms. The partnership raises the stakes in ShopKeep’s push to control a greater share of the SMB market.

5 Ways Brands Can Use POS Data for Targeted Customer Marketing

Connected point-of-sale systems are playing a central role for brands looking to develop more targeted marketing strategies. Here are five examples of ways that brands are strategically using their POS systems for targeted customer marketing right now.

Why Omnivore’s POS-Connection Platform Is Really an ‘App Store’ for Restaurants

The platform, which connects apps to POS systems, is making it easier for restaurants to find and test new technology. We recently caught up with founder and CEO Mike Wior to talk about the unique issues facing restaurant tech, and how Omnivore’s service can enable more experimentation and innovation.

6 POS Systems Designed With Restaurants in Mind

Forty-three percent of restaurant industry professionals say they plan to upgrade their restaurant technology within the next year, and 22% say they will in the next six months, meaning this could be a major period of growth for POS solutions focused on the restaurant industry.

Oilerie

Case Study: Franchisee Sees Better Customer Retention With iPad POS

Social media plays an integral role in most local merchants’ marketing strategies, but Oilerie’s Lori Hackman says business owners have to do more than just post occasionally on Facebook or Twitter to get people engaged and motivated to come into their stores.

ShopKeep’s Richelson: You Have to Specialize, Then Grow

“There is no way a company can start with a holistic service. You have to specialize then grow. But I will say because of the cloud it’s very easy to bolt on other providers to create a holistic service,” said ShopKeep founder Jason Richelson about branching out beyond his company’s initial focus on SMB point-of-sale software.

Executive Survey: What’s Hot and What’s Not in the Connected Local Economy

Preliminary results from our forthcoming executive survey suggest that industry players are investing the most in mobile, followed by data and analytics. Respondents indicated that mobile marketing and managing company websites were the biggest challenges for local merchants, along with SEO and listings management. More complete survey results will be revealed at our upcoming Street Fight Summit in New York City.

Street Fight Daily: Google’s New Payment Project, Real Estate’s Digital Decline

A roundup of today’s big stories in hyperlocal publishing, marketing, commerce, and technology…Google Said To Be Testing A Point-of-sale System Called Plaso (GigaOm)… Borrell: Real Estate To Scale Back On Digital (NetNewCheck)… An Attribution Standard? IPG, Horizon, Digitas and Others Agree to Use One Firm (AdAge)…

For Apple Pay to Thrive, Small Businesses Must Adopt

For a mobile wallet to really impact consumer behavior, its acceptance has to be ubiquitous — not just in the Targets and Macy’s of this world, but in our local bodegas, mom-and-pop shops, independent coffee shops and food trucks. You might think these businesses are a less important slice of the pie than the big-box retailers, but you’d be wrong…

Wooing Restuarants, Retail Software Startup LightSpeed Buys POSIOS

Point-of-sale startup Lightspeed said Wednesday it has purchased a belgian competitor, POSIOS, to help the firm enter the food service vertical and expand internationally. The deal underscores the potential for consolidation within a small business software segment that has seen an intense influx of capital and redrawing of product lines…

POS Startup Shows Cashiers Pictures of Customers Who Check-in

Revel Systems, a San Francisco-based company that makes point-of-sale software, will now notify businesses when someone has checked-in to their venue on Yelp or Foursquare. The feature offers a way to help businesses take a more proactive approach to engaging a vocal minority of users who actively share their opinions…

Consumers Are Using Cash Less — And That’s a Good Sign for Digital Marketers

A report by Javelin Research found that in-store cash sales in the U.S. dropped from $874 billion in 2012 to $788 million last year — a 10% decline. Over the next five years, the report projects that consumers will spend $100 billion less with cash, opting instead to pay using credit and debit cards as well as still-nascent mobile payment systems…