The hospitality industry in India has seen a complete makeover during the last decade clocking unprecedented growth with a CAGR of 12 per cent year-on-year and achieving a significant flow of foreign exchange into the industry. According to an estimate, the sector’s direct contribution to GDP accounts for US$ 44.2 billion in 2015 and expects to surpass US$60 billion in 2020.
Though several factors including growing consumer demands/needs, expanding economy and government policies can be attributed for its explosive growth, the one which does the behind the scene operation is undoubtedly the technological evolutions at the point of business transactions, which transformed the industry to met ever-changing consumer needs.
Point Of Sale (POS) where every business transaction happens, whether it is business hotel, resort, suite hotel, extended stay home, apartment hotel, casino, convention center or conference hall, has undergone a paradigm shift during the last decade simplifying day-to-day activities of eating places apart from offering sophisticated and fast billing solutions.
“Hotels are extremely important component of tourism industry and they contribute to the sector by offering services and facilities of high standard. Today’s Point of Sale technology has become more customer centric providing fast and high-end services to the compelling customers, at the same time automating many of the day-to-day works such as guest management, table management, inventory control, parking management, staff monitoring, sales and profit tracking, payroll management, forecasting, and many more, which help hoteliers venturing into untapped opportunities,” says Bhaskar Venkatraman, Founder and Director of JusTransact.com, an ecommerce venture catering exclusively POS products and technology to retail and non-retail sectors.
JusTransact, backed by Millennium Group’s indomitable field exposure in POS hardware products and solutions, is the first-ever e-commerce portal offering complete POS solutions to Indian retailers and non-retailers. It was launched with a sole motive of increasing its reach to remote regions of India and also to spread awareness on the advantages of using POS technology among enterprises of varied sizes and fields.
For Hospitality industry, the usage of POS technology is still to reach its zenith as significant numbers of hotels across the country are still wary of automating their operations.
POS can be a game changer for hospitality industry, as it not only automates operations, improves customer relations and brings down overheads, but also scales up service standards, revenues and growth prospects.
“Hospitality industry in India is on the cross roads now for a major expansion. Hoteliers should take advantage of POS products and technology to augment their services, improve customer relations and achieve significant growth. Many of the routine works which once carried with the help of more staff can be simplified and automated using POS technology which requires only few hands to monitor the entire work process. The over-head cost will come down significantly and also the human errors. But at the same time, the service quality can be improved manifold,” reminisces Bhaskar.
Some of the most common POS products used by hotels, restaurants, bars, and other foodservice operators across India are Touch Screen POS system, which is a combination of a touch monitor with tailor-made software, thermal printer, cash drawer and Magnetic Stripe Reader to receive payments through cards, cash registers, wireless hand-held POS devices, which are helpful for room services, Mobile POS and the most advanced Cloud POS, which can be used for multiple business activities.
Adopting POS products and technology can benefit hospitality industry as it sophisticates day-to-day operations, improves customer relations and reduces overhead costs considerably while significantly scales up service quality, sales, revenues and growth. So, just POS it!