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05/30/2016

Restaurants Show Increasing Appetite for Tech to Improve Ops

While restaurants have historically been slow to adopt new technologies compared to other industries, a commitment to tech savviness can improve their operations and better their odds for success. 
 
According to The 2015 NCR Restaurant Technology Survey Pulse, 87 percent of restaurant owners and managers said keeping up with technology is important for their businesses.
Further, 67 percent of restaurant owners and managers said technology has increased their revenues.
 
NCR Small Business commissioned the survey, which polled restaurant owners and managers, to uncover how technology is used and perceived in the foodservice marketplace. The results make it clear that restaurants are becoming much more efficient and sophisticated thanks to high-tech tools.
 
Efficiency = Profitability
When it comes to the types of technology that drive efficiency, 78 percent of restaurant owners and managers attribute mobile POS solutions with boosting productivity for their business. Other solutions that ranked high were cash registers and credit card readers, which scored 89 percent.
 
Mobile POS solutions help restaurateurs efficiently manage their resources when they utilize options including inventory, customer loyalty and email marketing. As 60 percent of restaurants typically fail within their first year, it’s imperative that they take full advantage of these solutions.
 
Additionally, going mobile can boost restaurants’ odds for success. A mobile POS system gives restaurant owners and managers a view into inventory and sales even when they are away from the business, and cuts down on manual processes that take time away from other tasks.
 
Keeping Up With Costs
Forty-three percent of respondents cited the cost of needed upgrades as one of the biggest hurdles to their use of tech.
 
Coming in close behind were security risks associated with technology (39 percent), the time it takes to fix problems (36 percent), and a lack of IT expertise (35 percent). Any steps a restaurant can take to lessen these hurdles will promote an increase in their use of technology and a likely boost in revenue.
 
Restaurateurs must thoroughly research the technology in which they plan to invest, and make sure to compare their options.  A solution with a low up-front cost, but that charges high amounts for upgrades and troubleshooting, for example, could surprise a restaurant owner or manager with a much, higher long-term cost.
 
Customers “Like” Online Hospitality
More restaurants are using technology to connect with current and potential patrons. Almost 70 percent of respondents have social media accounts, meaning they can more easily engage with diners who are “liking” (and “disliking”) their experiences and incorporate feedback into their operations.
 
In addition to social media, 63 percent of restaurant owners said they have traditional websites, meaning owners and managers can further their exposure and give more potential customers a taste of their offerings.
 
Restaurants Have a Lot on Their Plates
Restaurant owners and managers need to juggle a variety of business challenges from inventory management to customer service to marketing.
 
While the road to tech adoption has been long, owners and managers are adding tablets, apps, inventory management software and other tools to their menus of must-haves.
 
Want to simplify business processes, improve customer service, and even drive more revenue? If so, the strategic adoption of technology should be on your menu.