There, I said it. Well, I actually said it two years ago on a panel at FSTEC, an industry conference focused on restaurant technology. Looking back today, the pandemic not only confirmed my claim, it accelerated it.
So if the point of sale (POS) is dead, you’re probably asking yourself what the alternative is. My answer is simple. Don’t buy a POS, buy a transaction platform. In this post, I’ll share a snapshot of what I believe that means and include my shameless plug as to why I think Revel fits the bill.
Prior to the pandemic, 90 percent of transactions were being rung up at a POS. Today, nearly 70 percent of transactions are rung up elsewhere—think mobile apps, online ordering from desktops, or even mobile order takers in drive thrus or self-service kiosks. With technology at the fingertips of so many consumers, the concept of standing in line and ordering from an employee is already fading into the past. In 10 short years, there may be no concept of a POS as it exists in the traditional sense (hence my claim that the POS is dead.)
In addition to this new trend, I think many merchants would likely agree that addressing the rapidly evolving needs driven by post-pandemic consumer demands is next to impossible without a technology solution with a ton of built-in flexibility. Not to get ahead of ourselves here, but that is precisely the purpose and architecture that cloud-based technology was created to address.
With these two factors in mind, I like to think that Revel stands out. At Revel we offer a holistic transaction platform, not a POS that has had other digital channels bolted on. Ultimately, each of our competitors has a functional POS that can take orders at the counter, but having a transaction platform at the heart of your business is what really enables support of the continuous digital revolution. It future-proofs your technology for long-term success.
Let’s take a quick look at just some of the features that make Revel more than a traditional POS and instead a holistic transaction platform, built for accommodating and pleasing the post-pandemic consumer and beyond.
We were the first and remain one of the only platforms designed with a native cloud architecture from day one. Why does it matter that we have a native cloud architecture? Essentially, this means merchants and stakeholders can access mission-critical data from anywhere, at any time. Our cloud-based platform also makes it easy to scale high volume sites and brands with a large number of storefronts.
If you aren’t familiar with cloud-based technology, scalability is actually built in. Say you have a 100 site chain and business is slow on a Monday night—your operations may run off of one server in the cloud. However, on a Friday when volume triples and you need three or even eight servers, you’re still set up for success. The platform scales automatically to deliver a great performance. Many of our competitors have retrofitted legacy platforms to include some cloud-based components, but can’t deliver on these promises.
All businesses have unique operational needs. Outside of Revel’s built-in features and functionality, merchants can leverage our robust network of Revel Integrated Partners, or customize a solution to fit the specific needs of their business with Revel’s open API. A full cloud implementation allows for modern, open APIs as everything (data and code) is available from anywhere with a relatively light integration lift. Again, something only a native cloud solution can deliver.
Revel’s cloud-based enterprise management platform—complete with an enterprise management suite—offers multi-location operations the flexibility they need to easily scale, maximize profits, improve operations, and reduce risk.
As we continue to look ahead to the second half of an already change-packed year, my hope is that operators reading this take the time to really assess what their customers are demanding, and in turn ask themselves if their tech stack can keep up.
As small businesses and enterprises alike continue to seek out transaction platforms over a POS, our team at Revel looks forward to serving them.