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3 min read

How to Choose Bar Software

Seven questions, and an afternoon long test you can run on every vendor at once.

Matty HerreraBy Matty Herrera, Founder & CEO, Delta Kinetics

Published Updated

Delta Kinetics title card for the article How to Choose Bar Software
On this page
  1. Key takeaways
  2. Start with which problem you actually have
  3. The seven questions
  4. When should you not buy CoreTAP?
  5. How to run the evaluation
  6. Frequently asked questions
  7. Sources

Key takeaways

  • Choose bar software by first naming your problem: not knowing your numbers, knowing they are bad, or not seeing the venue when away.
  • Ask how late the integration is, whether it surfaces unasked findings, names who acts, and records whether anything happened.
  • Ask every vendor what their product does not do, what happens to your data, and what it costs to stop.
  • CoreTAP is the wrong answer if you do not know your numbers, already run the review, lack transaction data, or want a dashboard.
  • Give every vendor the same two weeks of your own trading and the same three follow up questions.

Frequently asked questions

How do I know what kind of bar software I need?

Decide which problem you have. If you do not know your numbers, you need counting and reporting. If you know them and they are bad, you have an execution problem, and if you cannot see the venue when you are away, it is a visibility problem.

What is the most useful question to ask a software vendor?

What does it not do. A clear answer means they have thought about the boundary, and no answer means they have not, or would rather not.

When is CoreTAP the wrong choice?

When you do not know your numbers at all, when you already run a weekly shift level review from exports, when your point of sale cannot give up transaction level data, or when what you want is a live dashboard on a wall. For a wall dashboard, several products do that well and more cheaply.

How should I run a fair software evaluation?

Give every vendor the same two weeks of your own trading and ask each to show you what falls out, not a demo on their data. Then ask what they would have told you to do, who they would have told, and how you would know next week whether it worked.

What hidden costs should I ask about?

The cost of stopping: contract length, export format and what happens to your history. The switching cost is part of the price and it is never on the pricing page.

Sources

  1. Federal Trade Commission: Protecting Personal Information, A Guide for Business
  2. Toast Support: Product Mix (PMIX) Report Overview
  3. Toast Support: Cash and Loss Management (Exceptions) reports, voids, discounts and refunds