Spotlight on Restaurant Operators: Challenges and Opportunities
Posted November 14th, 2017
The latest industry research paints a lackluster picture of restaurant sales growth and revenue performance. According to the National Restaurant Association, restaurant sales in the United States are expected to have increased (after adjusting for inflation) by only 1.7 percent this year. This is well below historical standards. Many restaurant operators are grappling with rising overhead costs — due, in part, to higher real estate prices and increased labor costs stemming from recent wage legislation. At the same time, the average number of visits people are making to restaurants, particularly casual dining and fast food establishments, has fallen by more than 10 percent.
All of which suggests that the industry will remain ever-so competitive. It’s no wonder, then, that so many operators are turning their attention to new business initiatives, many of them technology-enabled, aimed at improving financial performance.
Restaurant Operators Order Up Next-Generation Technologies
Posted May 6th, 2017
Restaurant operations tend to have a lot of moving parts. To compete effectively in today’s competitive market environment, all of the parts need to work together like a well-oiled machine – that is, a data-driven, next-generation machine. To be sure, all aspects of operations are becoming increasingly technology-enabled. Practically every top-performing restaurant, whether a full service restaurant or a quick service or fast casual restaurant, now incorporates specialized software applications to improve day-to-day operations and drive continuous performance improvement. These applications help with everything from budgeting, forecasting, financial consolidation and performance reporting and analysis to integrated, end-to-end solutions for point of sale (POS), menu and inventory management, invoice handling and workforce optimization.
Restaurant Innovation: New Signature Dishes and Next-Generation Technologies
Posted June 3rd, 2016
Restaurant operators often speak of innovation in terms of putting new signature dishes and food creations on the menu. But where the biggest innovation is happening today, arguably, is less on the menu and more in the technology that is driving increased efficiency and effectiveness across all parts of the food and beverage services industry. Next-generation restaurant management and POS systems are having a profound impact on business operations, guest satisfaction, revenue growth and overall profitability.
Next-generation Restaurant POS: May I Take Your Order?
Posted November 7th, 2015
Restaurant point of sale (POS) systems have undergone dramatic change in recent years — more dramatic, perhaps, than any the restaurant industry has seen since the decades-old shift from cash registers to POS terminals. These changes encompass both the software and hardware that top-performing restaurants are using today to improve business operations and customer satisfaction — and, ultimately, to reduce costs and increase revenues.