AI News, Hospitality Technology

7 Ways Restaurant Technology is Driving the Industry

As a restaurant technology solutions provider, you couldn’t be in a better position, as tech continues to drive industry trends and innovations.

Here are seven ways in which technology is driving the restaurant industry: It was just a matter of time before diners started demanding experiences like they receive in retail shopping (think: buy online, pick up in store) and new restaurant technology is fueling the fire.

In a table service restaurant, wait staff can exceed customer expectations by using a mobile point of sale (mPOS) to take payments at the table or redeem loyalty points quickly.

In the back of the house, leveraging technology translates to better inventory management, optimized purchasing, and efficient labor scheduling, all of which integrate with the accounting systems and other business applications.

solid reporting and analytics solution will provide greater visibility into a vast array of processes, including employee performance, offer redemption, the profitability of your promotions, table turn times, and more.

This is a great opportunity for restaurant technology solution providers to step in and show not only how reporting can help a restaurant connect with its clientele but how to effectively use analytics to drive business decisions from ingredient purchasing to menu pricing.

Now that labor costs are on the rise and unemployment rates have dropped, restaurant owners are scrambling to fill positions quickly, keep them filled longer, and do it without breaking the bank.

Restaurant tech, whether it’s a new payment processor or an entire point of sale and kitchen display system upgrade, has shown considerable ROI for restaurants of all types.

Saving a few seconds per order, small increases in check sizes, and slightly faster table turns may seem inconsequential when you look at them individually, but in the grand scheme of things, these lead to significant changes in profit margins.

Now, clients can leverage upselling and cross-selling capabilities, boost communication between front- and back-of-house, and send more personalized marketing messages to customers, which all leads to greater success.

Hospitality Technology Opens Nominations for 2020 Top Women in Restaurant Technology Awards

“Breaking through the barriers of the restaurant industry is a feat of itself for women, those women who have managed to do so in the additional field of technology are certainly exceptional and deserve to be recognized for their incredible accomplishments.” The 2020 Honorees will be recognized in three categories including: Rising Star Presented

InnovatorPresented to women who are forward thinkers and who have executed on tools and strategies to transform the restaurant technology space in a positive manner by creating or deploying emerging technologies that reimagine how things are done while paving the way for future technologies.

Winners will be profiled in the April 2020 issue of Hospitality Technology magazine and throughout the month in digital profiles on www.hospitalitytech.com The winners will be announced and honored during an  awards program on March 10, 2020 at the 25th annual MURTEC (Multi-Unit Restaurant Technology Conference), being held March 9-11, 2020, at The Paris in Las Vegas.

The Hospitality Technology editorial portfolio includes: a print publication that publishes nine times annually and reaches more than 16,000 hospitality industry executives, three networking and educational events (MURTEC, HT-NEXT and MURTEC Executive Summit), a comprehensive website, e-newsletters, web seminars, and several exclusive annual reports and studies.

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