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LS Retail | 06 July 2015

Restaurants and technology: 4 ways to capitalize on top trends

Restaurants and technology: 4 ways to capitalize on top trends

The hospitality industry has historically lagged behind when it comes to technological innovation. We have already analyzed 4 main trends in how restaurants and food service businesses are using technology, now let's focus on how best to capitalize on the industry’s lateness by being a leader, not a reactor:

1. Increase your expenditure in IT

A growing number of restaurants (16%, up from 11% in 2014) are now investing at least 10% of their revenue in technology.

2. Stop asking what your tech can do for you

Ask instead, “what do we want to achieve?” and let the IT power you to get there. Create an integrated strategy, and use technology as a tool to accomplish your marketing goals. Technology is pointless unless it comes with clear strategy to guide it. Take this example: the study reports that most restaurants apps have no real purpose, as they don’t link to a loyalty program, and can’t be used to order. This type of project - driven by a desire to use technology available, with no clear idea of what one is meant to achieve – will not help you gain more clients, or increase your bottom line.

3. Start by asking what you want to get

Is your objective customer retention? Technology can help you; take a look at our software solutions for restaurants and food service, and you will discover a host of ways to satisfy new and old customers. You could implement customer loyalty apps that offer menus, ordering and delivery options; you could send targeted offers and promotions to loyal customers; you could offer payment and ordering flexibility with mobile POS; you could guarantee always correct orders to customers with allergies or special dietary needs. The possibilities are endless – you just need to pick the right tools to fit your strategy.

4. Use a complete business management solution

Bypass system integration problems by using an all-in-one POS and restaurant management system that covers your restaurant from back office to kitchen to POS. With an end-to-end software you can be sure that you are always working with real-time, accurate data, which you can then use to measure your success and plan your business’s future.
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