The restaurant industry is not known for being the most tech-forward or receptive. But over the past couple of years, restaurant chains and mom and pop shops alike have turned increasingly to technology to help in areas where restaurateurs are unable to handle the reduction in labour, and the need to maximise operational efficiencies, especially with the pandemic.
In a recent analysis into customer’s experience in the digital age, Deloitte concluded that 40% of customers prefer to order online. And that at quick-serve restaurants, when technology is used to place an order, the frequency of visits goes up 6%, and spend per visit improves by 26%.
This is a clear indicator that if the business is not keeping up with restaurant technology trends, it gradually becomes irrelevant while losing out on maximising its margins.
This brings us to two overarching questions: What restaurant tech is available? What do I need?
The current status of the restaurant industry is that it branches off into many different niches, each with its own specific tech needs. The main issue for many of these restaurant operators is comprehending and effectively adopting relevant restaurant technology. The most important factor of adopting tech into the restaurant business is that it needs to be flexible with the current workflow.
In Toast’s 2019 Restaurant Success report, 84% of businesses mentioned that POS software was critical to their business. An estimated half said the same for accounting software while 35% stated that invoice management software was critical to their business.
Niche tools are built to handle particular areas of restaurant operations, be it invoice management, cost tracking, menu engineering. They are designed to fit in, not to displace existing software; but rather to reinforce it and help value add to any existing tech stack.