Future trends in restaurant tech to raise your seasonal profits
Restaurants need technology to thrive in an increasingly competitive market where profit margin mean everything. But what’s hot in software as we head towards the all-important Christmas and New Year seasons? Jaipal Yadav, MD of restaurant software business, Favouritetable, considers the options.
It’s often said the UK lags slightly behind the US in picking-up new business and cultural trends indicating where global markets are heading next, and this seems particularly true in findings outlined by the latest Hospitality Tech POS Software Report, which notes 72% of restaurants state their IT budget will continue to increase through 2022 and beyond.
The UK restaurant industry can be slow to adopt new tech and digital solutions, but the COVID-19 pandemic changed this and has forced many hospitality providers to become far more innovative in their choices and approach.
As a result, technology is transforming leading restaurants wanting to take advantage of the connected era. From online ordering and automated marketing, through to delivery and pick-up, restaurateurs can no longer afford to ignore the trends that are shaping the industry and helping businesses reinvent themselves.
Perhaps unsurprisingly, the rapid surge of restaurant technology and demand for faster service is driving growth of the global restaurant management software market as evidenced by the recent Allied Market Research report analysing the ‘Restaurant Management Software Market.’
This shows a global restaurant management software industry worth an estimated $4.2 billion in 2021, and set to reach $17.1 billion by 2031. Clearly something important is happening, but how do you make the best decisions about which software products your restaurant needs?
For starters, friendly expert advice is a must, as is trialling new software for free to gain important experience of exactly how a new product will meet your needs.
Here’s our impartial view on the five latest digital trends and tools that should be at the top of the agenda for you as we head towards the vital Christmas and the New Year periods, giving you the comfort of knowing you’re two steps ahead of the competition:
Eliminate the paperwork
Piles of paperwork in a fast-moving restaurant quickly become unmanageable, prone to loss and – unlike digital systems – don’t connect. The outcome is a disjointed customer experience, stressed management and staff, and often unhappy diners. Before Christmas arrives map out your existing processes, identify risk points and speak to a top software provider to ensure nothing can go wrong.
Get the party started with menu management
Fixed festive menus need to meet customer desires, budgets, habits and practical requirements. A good restaurant management system includes functionality which allows the creation of menus well ahead of time, along with ‘rules’ for party booking sizes, date ranges and specific times, all of which is booked online and secured with a deposit or full payment in advance.
Automated reminders a must
Your probably won’t have to try very hard to imagine a company booking where the firm has paid in advance, but guests haven’t completed their menu choices yet. The best software solutions allow you to set a date by which the order must be completed, with all individual menu choices submitted. Also ensure your software automatically sends a reminder email to the lead booking guest at regular intervals until the order is completely filled.
Computer says ‘yes’
Lead bookers are naturally concerned their event will run smoothly and fortunately, your restaurant clientele are now used to online self-service that gives them time to review and amend party details in stress-free fashion.
This means you need an online booking system which offers easy-to-complete pre-order forms and a shareable link for the rest of the party to complete at their convenience. Imagine the time you’ll free-up after doing away with endless guest emails and calls to update party bookings.
Get control of your credit
If you dread the additional workload tied in with chasing pre-orders and deposits you’re not alone. Being a busy restaurateur means it’s of course easy to lose track of who’s paid what and when, leading to a serious risk of profit loss.
With the right tools in place, employing easy-to-use software technology will clearly set your restaurant up for a very Merry Christmas and a Happy New Year, generating a festive boost for your business. This is a lucrative opportunity that can generate crucial diner advocacy and a loyal, developing customer base – grasp the opportunity with both hands!
Sign up to Favouritetable by 1st December and get the Party Bookings and Marketing Modules free* for a month.
Favouritetable is contemporary, easy to use restaurant management software designed to increase bookings, efficiency, revenue and profits. Loved by restaurateurs and UK-based, it's the best value full-function restaurant management software on the market.
For a demonstration, call us today on 033 0124 4785 or email us at email@example.com
*Ts&Cs apply. Requires sign-up to a paid subscription to Favouritetable and the optional marketing and party booking modules. Free for first month, payments will commence from month two.