You’re an executive in the hyper-competitive restaurant industry. Evolving trends and rapidly changing customer demands ensure that your job is never done.
TOP 3 CHALLENGES FOR TODAY’S RESTAURANT executive
The last few years have been anything but predictable for restaurants. Your customers have more options at their fingertips than ever, and they expect a seamless experience whether they’re dining in or ordering out – leaving you to untangle a complicated web of financial challenges.
IT’S TIME TO GET AHEAD
You’ve worked hard to adapt to unprecedented changes. Now, you need to ask: what’s next?
As customers demand technological innovation in the dining experience, your margins grow ever thinner. You need to tap into the newest technology to accelerate sales, reduce overhead and create an unforgettable experience.
YOUR PRIORITIES FOR GROWTH
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For enterprise technology finance leaders, the top 3 investment priorities are:
Modernized systems
of restaurants plan to offer contactless ordering and payment options.
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The number of payment types is continually expanding, from cash and contactless payments to biometrics and crypto – and your customers want choices. You need a robust payment infrastructure that enables fast, convenient and flexible payments for all.
Of course, more payment options lead to more complexity. You need an integrated set of financial tools that provide real-time visibility into cash flow, as well as the ability to track cash flow and expenses across diverse payment modes.
Expand payment possibilities
Embrace payment change
Track in real time
Accelerate sales
Improve margins
Data should be driving decisions across your business, from managing inventory to rewarding loyal customers. But gathering actionable, end-to-end insights can be a significant challenge.
This solution is an automated, connected system that allows you to track and reconcile takeout, dine-in and third-party delivery sales; manage labor costs in real time; find opportunities to tap into new revenue sources; and have on-demand visibility into your financial performance.
Optimize operations
More efficient processes free up additional cash for investment in innovation. Technology can streamline operations across your business.
Among things to consider: how to minimize risk while embracing emerging payment methods; lowering delivery costs as off-site dining continues to rise; managing costs associated with fluctuating demand; reducing risk and loss from fraudulent transactions; and exploring possibilities for expansion.
With a robust payment infrastructure, real-time data insights and efficient back-office processes, your business can boost cash flow and customer satisfaction while reducing operational costs and investing in what’s next.
There's a way forward.
THERE’S GOOD NEWS
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Discover data-driven insights
Keep everything running smoothly
Control risk
Data and analytics
Cloud solutions
YOU’RE WORRYING ABOUT:
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Source: National Restaurant Association
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Releasing capital for innovation
How can you improve efficiency in your function to reduce cost and have more cash for innovation?
There’s so much data, how do you make actionable insights from it?
Making smart decisions
How do you stay ahead of payment innovation, with growing markets and customer expectations changing?
Having flexible payment options
Digitized payments from dine-in to pickup
WHAT ARE YOUR MOST CRITiCAL AREAS OF FOCUS FOR TECHNOLOGY INVESTMENTS?
A.
Streamlining operations to reduce costs
B.
Frictionless back-office operations
C.
Reducing labor shortages and costs
D.
Reducing risk
E.
Ability to support new financial products
F.
Cost pressure/Need to reduce OpEx
G.
You’re not the only one.
Your peers are also concerned about how to tackle these issues. But many of them are already on their way.
Modernized systems
Data and analytics
Cloud solutions
Blockchain and digital currencies
How will you compete?
Source: 2021 FIS Readiness Report, June 2021
Payment Flexibility
Customers want a fast checkout experience with a wide range of payment options at the table, online and during delivery.
Data is crucial to improving the customer experience and back-office operations, but you need the right tools to collect, analyze and act on that data.
Data Insights
You need to stay on top of the latest technology to reduce risk and loss, streamline operations and stay competitive against new industry players.
Operational Efficiency
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of restaurants struggle to turn a profit due to inability to manage food costs.
of consumers prefer to place their delivery orders online.
Source: Deloitte
Source: Zippia
Source: Hospitalitytech.com
of restaurant operators see themselves as leaders or early adopters in digital strategy and e-commerce.
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Source: Deloitte
of consumers prefer to place their delivery orders online.
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Source: National Restaurant Association
of restaurants struggle to turn a profit due to inability to manage food costs.
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