The Best Restaurant Software for 2024

In the bustling world of restaurants, efficiency and smooth operations are essential for success. This is where restaurant software comes into play, revolutionizing how eateries manage their day-to-day activities. Restaurant software is a specialized technology solution crafted to streamline operations, enhance guest service, and boost overall profitability. It offers a comprehensive suite of features including inventory management, order processing, staff scheduling, and customer relationship management, all integrated into one cohesive platform. As we explore the features and advantages of restaurant software, its importance in modernizing operations and ensuring sustained growth in a competitive market becomes increasingly evident.

Why is Restaurant Software Valuable?

According to a recent report from Statista, full service restaurant revenue in the United States has surpassed $334 billion annually in recent years. In today’s competitive restaurant industry, adopting advanced technology like restaurant software is no longer a luxury but a necessity. 

According to the 2023 Restaurant Technology Outlook, which is a study published by Nation’s Restaurant News, the vast majority of operators, or 92%, are likely to increase spending on new technology in the next 12 months, with 39% saying they “definitely” will add new technology and 53% saying they “probably” or “possibly” will. 

“The past few years have been a time of dramatic digital transformation for the restaurants and, as our report reveals, the pace of change is likely to accelerate,” said Christi Ravneberg, director of research and insights for NRN. “Today’s restaurant operators overwhelmingly told us that digital innovation is a non-negotiable way to stay competitive — and that they’re ready to embrace new tools that address their biggest business challenges.”

The Benefits of Restaurant Software

With rising competition and increasing customer expectations, restaurants must utilize every tool at their disposal to stay ahead. Restaurant software not only simplifies complex processes but also delivers valuable insights through data analytics, enabling restaurants to make informed decisions. 

Operational Efficiency

Restaurant software significantly enhances operational efficiency through various features and functionalities.

Improved Customer Experience

Enhancing customer experience is a major benefit of restaurant software, improving the ordering process, personalizing service, and managing feedback effectively.

How to Choose the Right Restaurant Software

Choosing the right restaurant software requires a detailed understanding of your specific needs and goals, creating a comprehensive checklist, and evaluating essential features and implementation factors thoroughly. This structured approach will help streamline the decision-making process and ensure you select software that optimizes your restaurant management.

Identify Your Needs and Goals

Before diving into software options, it's crucial to clearly define your restaurant's specific needs and goals. This foundational step ensures that the software you choose will address your unique challenges and support your objectives.

Create a Checklist or Framework

Organizing your criteria into a detailed checklist or framework simplifies the evaluation process and ensures no important aspect is overlooked.

Essential Functions and Features

Understanding the key functions and features of restaurant software is essential for optimizing various aspects of restaurant management. Each feature should be evaluated based on how it can enhance your operations and contribute to achieving your goals.

Implementation Considerations

Ensuring smooth implementation and user adoption requires careful consideration of several factors, including user interface, training requirements, and support services.

Now that you have a better idea of how restaurant shop software can help you run a better business, let’s explore some of the best options to choose from.

To create this list of platforms, we looked at third-party reviews from sites like NerdWallet, as well as user reviews from Capterra.

1. Toast

Toast’s POS system ranks as the best restaurant software for several reasons. First, it’s specifically designed for restaurants, coffee shops, and food service businesses.

Additionally, it features a user-friendly interface with a comprehensive set of features, including:

• Transaction processing for multiple payment methods, including mobile wallets like Apple Pay

• Integrated inventory management

• Employee management, tip management, and payroll tools

• Customer relationship management solutions

• Loyalty programs

• A robust set of third-party integrations, such as delivery services, online ordering, and more

• Extensive sales reports and data analytics

• Offline mode, ensuring you can operate even if you lose internet connection

• 24/7 support

This restaurant software also integrates seamlessly with Toast’s hardware tools, like countertop POS terminals, mobile POS terminals, and self-service kiosks. Set-up is both fast and simple.

Lastly, the platform offers flexible and scaling pricing options, and you can even get started for free.

2. Square POS

Square POS offers a user-friendly interface and a free plan that includes essential functions like:

• Sales tracking

• Reporting

• Offline payment processing 

It also integrates with other Square services, such as payroll, and provides a free online store. 

However, it has limitations, such as incompatibility with Windows devices and a lack of specialized features.

3. Lightspeed Restaurant

Lightspeed Restaurant is a customizable iPad-based POS system tailored for food service businesses. 

It offers advanced inventory management tools, as well as CRM and loyalty programs included in all plans. Additionally, the system provides 24/7 support and includes one-on-one support for Essential and Premium plans. 

However, syncing with accounting software incurs additional costs, and some plans may require long-term contracts.

4. TouchBistro

TouchBistro is designed specifically for the food and beverage industry. It offers a range of features such as:

• Table and menu management

• Inventory tracking

• Staff management 

This restaurant software can also operate offline, ensuring continuous operation even without an internet connection. 

However, it requires a long-term contract commitment and additional costs for features like online ordering and loyalty programs.

5. Revel Systems

Revel Systems is another iPad-based POS solution. It provides capabilities such as:

• Inventory management

• Employee scheduling

• Customer relationship management 

This system also offers strong security features and real-time reporting, which helps in making data-driven decisions. 

However, it requires a three-year contract and has higher initial setup and ongoing costs, which might be prohibitive for smaller businesses.

6. Loyverse

Loyverse is a cost-effective POS solution. The software offers a variety of built-in reports and allows for advanced data analysis through transaction exports. 

The software is easy to set up, user-friendly, and supports multiple languages. Users also praise Loyverse's customer support for being prompt and helpful. Additionally, you have the ability to offer customers a loyalty program.

However, Loyverse lacks some advanced features like staff management, online ordering, and delivery management. Users also report issues with duplicate stock entries and insufficient warnings for low or out-of-stock items.

7. Rezku

Lastly, Rezku POS is easy to use and provides exceptional customer support. Users appreciate the intuitive interface and the proactive approach of the Rezku team in implementing updates and new features based on customer feedback. 

However, some users have noted issues with report descriptions and occasional slowness in the system. 

Additionally, earlier versions lacked certain functionalities, which delayed implementation for some businesses.

How Much Does Restaurant Software Cost?

Restaurant software pricing can vary significantly based on the provider, the features you need, and the size of your business.

When budgeting for restaurant software, consider the potential return on investment (ROI). For example, look at how the software can help reduce labor costs, minimize inventory waste, and increase sales through improved efficiency and customer experiences.

You’ll typically incur the following types of costs when using a platform:

• Monthly Subscription: Many providers charge a monthly fee for using their software, often based on your number of terminals or users.

• Per-Transaction Fees: Typically all platforms charge a small fee for each transaction processed through your system.

• Hardware Costs: If the software requires specific hardware (e.g., iPads or proprietary terminals), factor these costs into your budget.

• Setup and Training Fees: Some providers charge for initial setup and staff training.

• Add-On Features: Additional functionalities may come at an extra cost.

Generally, you can expect to pay anywhere from $50 to $200 per month for a basic system, with some solutions ranging from $200 to $500 or more per month. Additionally, hardware costs can add several hundred to a few thousand dollars to your initial investment.

However, not every solution will incur all of the costs above. For example, with Toast, you can get access to free hardware with a Pay-as-you-Go Starter Kit. Better yet, you actually own the hardware! You’ll also avoid monthly subscription costs, though you will pay a slightly higher payment processing fee of 3.09%.

On the other hand, you can opt to pay for your hardware upfront and pay a lower processing fee of just 2.49% per transaction.

Ultimately, by choosing Toast, you’ll have more flexibility in pricing so you can choose what works best for your budget.

Get Started With Toast’s Restaurant Software

Toast's Starter Kit package is the ideal restaurant software for smaller operations with fewer than 10 employees. 

With the choice between a countertop or handheld POS terminal device, Toast’s Starter Kit helps you get up and running fast with intuitive tools that help your staff focus on food, drinks, and hospitality, not complicated software.

Meanwhile, the Toast Pay-as-you-Go plan keeps startup costs low by including Starter Kit hardware for $0 (just pay shipping and taxes) and eliminating monthly POS software subscription fees. 

The payment processing fee covers all costs, meaning Toast only gets paid when you do. One flat rate applies for all transactions, regardless of card type and entry method.

If you have more than 10 employees, you can schedule a quick demo today with a Toast specialist to discuss which products and packages are best for you.

With Toast, you can serve up coffees and pastries fast with easy and efficient tools. From 24/7 reliability to flexible options for every budget, it’s the perfect restaurant software solution for your business.

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