Restaurant payment tech lacks interoperability, communication

Register now

The competitive arms race of the restaurant industry is necessary to keep customers coming through the door instead of going to the restaurant down the street.

With today’s advances, technology professionals have more options to offer than ever before.

Unfortunately, many of these solutions weren’t designed to handle restaurants specifically and as a result, the analytics and integrations with related technologies are severely lacking. Furthermore, many point of sale systems, even ones designed to work with restaurants, only provide incredibly basic analytics in the form of daily product-mix reports.
With new technologies emerging every year, many are welcoming new insights offered by data analytics, easier payment processing provided by flat-rate merchant services, and point of sale that are both affordable and adaptable to individual establishments.

In addition to sales data, restaurateurs require a wide range of operational management features such as labor reporting, inventory management, online ordering and server performance.

However, many of these solutions do not communicate smoothly between one another. What begins as a tool to drive new business more effectively becomes a pain point of its own as restaurateurs have been forced to be dependent on this patchwork of technological solutions to serve the unique needs of their business.

Payment professionals aren’t exempt either. Today, many restaurateurs expect more from their merchant services than a paper bill at the end of the month listing the basic credit card transactions. Otherwise, the busywork of culling together data-driven insights from raw data is a time-consuming ordeal.

The remedy for this intersection of separate but necessary technological solutions is a single platform capable of handling the day-to-day grind of a fast-paced industry while providing top-class insights and sales analytics. Point of sale resellers, VARs and technology professionals are seeing the value of a unified system, embracing the benefits provided by a cloud-based restaurant management solution, and bringing those benefits directly the hospitality industry.

By coupling this platform technology with payment processing at a reasonable rate with transparent terms, restaurateurs can harvest actionable insights worth their weight in saffron. These insights allow professionals to make essential managerial decisions, such as what to place on the menu, when to place it there and who should serve it once the first plate is ready.

By recognizing the importance of software as a service, many technology and payment professionals can help restaurateurs avoid the heavy investment required to employ a legacy point of sale and do away with the one-size-fits-all approach to restaurant management.

Both restaurateurs and technology professionals can benefit from a unified, end-to-end restaurant solution that can eliminate pain points and increase time spent doing exactly what restaurateurs do best, providing outstanding food, atmosphere and hospitality.

For reprint and licensing requests for this article, click here.
Point-of-sale Retailers Restaurant industry ISO and agent