التكنولوجيا وأخبارها بوابة مصر لأخبار تكنولوجيا المعلومات والإتصالات
Why and how to Invest in Technology for Financial Efficiency in Restaurants
By Naji Haddad, VP – EMEA at Deliverect
In today’s competitive market, staying ahead of the curve is crucial to using essential cutting-edge
technology for restaurants to thrive. Modern technology is transforming every facet of the restaurant
business. From automating tasks with robotics to utilizing software for inventory management and
customer service, these solutions empower restaurants to operate more efficiently and profitably,
reshaping the entire industry.
Nowadays, new restaurants, ghost kitchens, and virtual food brands are popping up at every corner,
making our industry the most competitive it has ever been; using the right tech is the way to reduce
financial waste and elevate financial efficiency in the coming years.
Consolidating tech into a Comprehensive Solution
While tech integration is crucial, it shouldn’t burden restaurants with excessive costs or complexity.
Many restaurants make the mistake of overinvesting in new software and even hardware solutions
without first analyzing their needs, goals, and focus areas.
For example, one of the major focus areas for any growth-oriented restaurant would be to
consolidate its tech and use a solution to seamlessly aggregate online orders, manage menus, track
data, and reduce redundancy across your Point-of-Sale (POS) system.
This streamlines workflows and provides a unified overview of all incoming orders, especially for
restaurants with multiple sales channels.
Always aim for a lean tech operation where you use only a handful of critical tools that provide as
much bang for your buck as possible.
Protection of Revenue: Reducing Failed Orders
One of the critical aspects of financial efficiency in restaurants is reducing failed orders. This not only
affects revenue but also customer satisfaction and loyalty. Having a solution that seamlessly
integrates all your equipment, from online ordering systems to kitchen appliances, helps in reducing
errors and ensuring orders are fulfilled accurately and on time.
By leveraging technology to streamline order processing, track inventory in real-time, and minimize
manual errors, restaurants can protect their revenue by avoiding costly mistakes that lead to
dissatisfied customers and lost sales opportunities.
Moreover, implementing predictive analytics and machine learning algorithms can further enhance
order accuracy and reduce the risk of errors, contributing to improved revenue protection and
customer experience.
Financial Tracking: A Cornerstone for Success
Effective financial management is paramount. Beyond tracking revenue and sales, restaurants require
meticulous expense management and year-round financial analysis.
Financial monitoring and meticulous analysis are the foundational pillars of data-driven decision-
making in this business, giving you a competitive edge. It all starts with the right accounting software
that will provide you with a comprehensive overview of your accounts receivable and accounts
payable, along with detailed reports.
This software should provide comprehensive overviews of accounts receivable and payable and
detailed, granular reports – both at the micro and macro levels – to identify seasonal and annual cash
flow trends.
Using Technology to Optimise Labor Costs
Everything is becoming more expensive. From logistics, food, packaging, equipment, and compliance
to labour, training, and talent retention, restaurant owners desperately seek ways to cut their expenses.
Task automation is key to optimizing labor costs in restaurants. By automating repetitive tasks such
as order processing, inventory management, and reporting, staff can focus on higher-value activities
like customer service, menu innovation, and strategic planning.
Automated scheduling tools can also help in optimizing labor allocation based on demand patterns,
ensuring adequate staffing levels without unnecessary overtime or understaffing situations. This not
only improves operational efficiency but also enhances employee satisfaction and reduces turnover rates.
Investing in staff training on using these automated tools effectively can further maximize their
impact on labor cost optimization and overall business performance.
Investing in the Future
The restaurant industry is becoming more competitive than ever, but that doesn’t mean that small
businesses or up-and-coming brands can’t build long-term success and stability. However, by
embracing technology for operational efficiency, cost optimisation, and strategic growth, restaurants
of all sizes can thrive with this competitive edge in 2024 and beyond.
