How Has Technology Changed The Hospitality Industry?
It’s safe to say that the hospitality sector has undergone a major transformation over the past few decades with the uptake of new tech being especially accelerated since the advent of Point of Sale solutions.
Hospitality POS systems are introducing labour-saving automation, frictionless order fulfilment and access to the kind of insight that’s never been available before, with many merchants finding that the newly acquired tech is quickly proving itself to be a worthy investment – and we see the rippling effect across the sector! Read all about the many changes that have been brought about by POS solutions below.
Hospitality-bespoke Point of Sale solutions
Adopting a dedicated Hospitality POS is the answer to succeeding in today’s hospitality landscape. With an increasingly computer-literate customer base, the industry has been catering to the evolving demands in stride, further pushed along by offering problem-solving capabilities in response to the pandemic as well as introducing convenience to end-users while powering up the entire operation. Things have come a long way since the trustee pen and paper way of working and payment technology has simply evolved. Many hospitality POS systems will feature the following:
- Table and tab management
- Custom floor plans
- Real-time menu editing
- Kitchen Display Screen
- Loyalty features including points-based programs
- Ingredient-label stock management
- Wastage reporting
Interconnected solutions
Traditionally the service industry has had to juggle multiple software and programs to take care of a long list of different tasks. Stock management would require separate staff and software, as would accounting, payment processing and so on.
The introduction of POS has meant an integrated, one-platform solution to take care of a practically unlimited amount of operations. From order fulfilment, payment processing, mobile ordering to eCommerce add-ons, loyalty and staff management integrations – the list is endless. This comes with the growing prioritizing of ‘convenience’ which not only helps speed up back-end operations but also ensures that the hardware is kept to a minimum.
Mobile hardware
We’re no strangers to clunky hardware and the retro monitors of the early 2000s are a sight to behold.
But legacy systems are not only impractical in size but in practice too; overly complicated, requiring specialised training to handle and a pain during staff inductions. As cloud-based solutions are designed to be user-centric, more and more hospitality ventures are forgoing complicated wiring and impractical monitors with lightweight, mobile and cashless alternatives brought about by tablet solutions. This in turn helps front-end staff stay flexible and take orders wherever they are while previously restricted to the traditional ‘behind the counter’ setup.
New ways to pay
Of course, cash reigned supreme not long ago, but this is quickly changing. We’re seeing an increase in alternative payment methods and are on track to mobile payment becoming the go-to for merchants and customers alike.
Take contactless payment for example; not only can you touch in your debit or credit card for a 2 second transaction time, but you can now leave your purse at home altogether. With mobile wallets such as Apple Pay, the customer experience has never been so seamless, allowing businesses to cut queues, up their turnaround and ease the burden on both parties with a whole lot of automation – a huge selling point to help you succeed in the hospitality industry.
This also goes into pre-pay and mobile ordering territory where the entire order fulfilment process is done remotely, whether from their table or the comfort of their home.
Insight
Historically, as far as insight goes, it started and ended with basic sales and stocks. There wasn’t much opportunity to analyse your customer segment population, spot trends, problem areas where you may be losing money and a way to forecast performance was practically unheard of.
Today, identifying growth opportunities, responding to customer needs and understanding your target audience is not only accessible but required to stay competitive. From consolidated reports on turnover, profit margins and best sellers to wastage, staff performance and more – merchants are now able to monitor all aspects of their business in real-time.
The answer is – a lot
Technology has completely transformed the hospitality industry in an ever-evolving quest to meet customer needs that are also on a steady incline. It’s clear that keeping up with new tech innovations not only future-proof businesses but keep them competitive across the board in terms of speed and quality of service provided. From greater insight, faster payment systems to offering unrivalled convenience – we can’t wait to see more tech innovations put into practice.