Creating Profitability and Efficiency in Restaurant
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Creating Profitability and Efficiency in Restaurant

By CIOReview | Monday, May 20, 2019

FREMONT, CA: Restaurant operators have faced many challenges in the past few years, from rising labor costs and higher rents to healthcare legislation and tighter markets. Customer preferences have also evolved with time, and new restaurant technologies have been introduced to meet the demands. The use of mobile ordering, online delivery, and digital wallets have created an additional revenue stream by maximizing efficiency.

Some tips for restaurant operators to elevate their business standards:

Long-Term Sustainability:

Many restaurant operators have made the mistake of collaborating with third-party vendors to drive incremental sales in the short term. When the same operator has to collaborate with other third-party providers, they find themselves in a real fix, also known as tablet hell—a tangled web of inefficiency. Restaurant owners need to take their time to reflect upon the ideas about the bigger picture, rather than wasting capital for a quick fix.

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Time Equals Money:

Every moment in the business is as valuable as gold. Inferior integration methods and strategies lead to the hidden cost of wasted time for restaurant operators. Operators tend to spend countless hours behind the analysis of data and troubleshooting issues to regulate how to strategize the partnership for maximum returns only to find that these ventures take up so much of their time that they lose money in the long run.

Avoid Unnecessary Data Management:

Technology providers often provide a bulk of data to help them optimize their business in the future, but it is essential not to get distracted by the volume of data points that have been substantiated. Operators must pinpoint key data points that will help them to identify procedures to save money and time in their operations.

The collaboration of Vendors:

Integration has always been the biggest hindrance towards implementing new technology in the restaurant business. Operators can act as the middle-man between vendors by bringing them together to work cooperatively and transparently. 

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Be Agile or Perish:

Even after integration, the work remains half-done. Operators need to understand customer preferences and interactions. As mobile ordering is gradually becoming a preferred trend, staff needs to become more active in resolving technical issues and service provisions. Therefore, operators need to be agile at each phase of their business to adapt to change.