Restaurants all over the world are struggling to cope up with the stiff challenges posed by Covid-19. The sharp decline in footfalls and diners hesitating to visit restaurants has badly affected their profits. As per the report by National Restaurant Association of India (NRAI), the restaurant industry in India operates on wafer thin margins of about 5 percent EBITDA at the chain level.
Thus, it’s become an imperative to leverage the benefits of technology and boost profitability of your restaurant. The first step in this direction would be to implement a modern day, digital restaurant management system. The software platform helps you manage multiple functions such as billing, reservations, inventory management, marketing and a lot more.
How Restaurant management software help you boost profits?
Let’s go deep into the various benefits of implementing a smart restaurant management system.
Integrate with third party delivery platforms
In the post pandemic world, online food delivery platforms such as Swiggy and Zomato have gained immense popularity among food lovers. As per the report by Forbes, by 2023 the market of online food delivery is expected to grow and outstretch up to $154.34 billion at CAGR of 11.51%.
A major benefit of cloud based restaurant management platforms such as inresto POS is that it lets you integrate with multiple sources such as third party aggregators, websites and apps. Now you can enhance your restaurant’s profits significantly by getting listed on third party delivery platforms.
Optimise your kitchen’s turnaround time
By streamlining all the operations from the central kitchen, you can achieve a huge amount of cost savings. Gone are those days when servers users to note down the orders placed by diners in a slip of paper and walk to the kitchen to communicate the order details. With the help of Kitchen Display System (KDS), the waiter takes the order details on a tablet. Subsequently, the chef and other kitchen staff can view the details on the monitor placed in the kitchen. The system saves a lot of time when compared to the legacy manual processes.
Minimise inventory wastage and theft
Wastage of raw materials eats away a sizeable amount of your profits. The platform aids in optimising your kitchen resources and cuts down overall grocery cost and requirement. Another nagging problem faced by restaurateurs is the internal theft by employees. As per the study by National Restaurant Association, internal employee theft is responsible for 75% of inventory shortages and about 4% of restaurant sales. With inresto, you can track and monitor all your supplies from anytime, anywhere. The pilferage and theft alerts help you curb the problem of employee thefts.
Whenever it’s time to place a fresh order of inventory, you will receive timely alerts. The system ensures that you never run out of stock. Once the order is placed, the inventory status gets updated automatically.
Custom loyalty programs to attract diners
It’s always hard to entice new customers. Thus, the best way to boost sales is by focusing on existing customers. The restaurant software let you create a custom loyalty program based on your customer retention goals. Customers earns rewards based on the number of visits or the amount spent. The option of instant reward redemption makes the loyalty program more attractive.
Run targeted campaigns
Identifying your target customers is an integral part of any marketing program. Based on the target segment, the communication channel can be SMS, E-mail or push notifications. In a single click, you can send promotional messages to your audience. One more advantage is that you can automate your campaigns and schedule them as per your preferences. Each time you run a campaign, monitor the impact of the program and the Return on Investment (ROI). In case the campaign is not working out, you can make changes to the program accordingly.
Restaurateurs are trying out all sorts of methods to increase profits. With conventional marketing techniques, you can no longer attract in-diners. As a result, in the post pandemic era, most of the restaurants have gone digital. An efficient restaurant management system can help enormously in boosting sales and cutting down wastage at your restaurant.