Shifting Ahead of the Curve When Re-Opening your F&B Business with the Right Technology
Staying ahead in the competitive world of hospitality is already tough, let alone while recovering from a global pandemic. 65% of point-of-sale (POS) purchasing decisions are impacted by the opportunity to add new functionalities, features, or modules to their POS software so hospitality businesses must provide customers with best in class technology and premium services.
However, switching your point-of-sale system is a huge decision that businesses should consider carefully as change always comes with new challenges. On a technical level, the biggest challenge is making sure all systems properly talk to one other and share information openly.
Overcoming the Challenges of Implementing New Technology
One way to assure a smooth transition to a new POS is by opting for cloud-based systems, which are flexible, secure and provide access to open APIs. Open APIs help provide better experiences for customers and make it easier for users to operate the software.
A system with great APIs can be leveraged for building customized reports or entire applications. The final, and most crucial advantage, is you can change hardware or software as needed as the old data is easily accessible.
Shiji Group, in partnership with Barstock Exchange, recently helped a F&B business overcome challenges with their existing POS and together have upgraded their technology to a fully integrated, cloud-based POS for more operational efficiency. McGettigan’s, a family-run global chain of bars and pubs, initiated a partnership between Shiji and Barstock Exchange, as they were already working with Barstock Exchange and looking for a POS that could integrate with Barstock Exchange’s technology while providing them with next-level enterprise POS capabilities.
“Given our existing relationship with Barstock Exchange, we were looking for an enterprise-level POS that allowed us to integrate with third party systems while improving operational efficiency across our various outlets. Selecting the cloud-based Infrasys POS as the market-leading system provided centralized management of our venues, helped save on initial hardware costs, and enabled mobile operations through handheld devices. Shiji’s partnership with local dealer CADD Emirates, a leading enterprise solutions provider and trusted ICT integrator in the Middle East, provided even more support throughout the software implementation and we look forward to continue working with Infrasys for future deployments,” said Dilhan Devaditiya, Director of IT, Bonnington & McGettigan’s Group.
From the Right Technology to Revenue Growth
The Barstock Exchange, an innovative software that drives sales in bars, pubs, restaurants, and clubs across the world by using the dynamic pricing of a stock market to set prices based on demand, had previously worked with McGettigan’s to run guest events and help upsell items, which is why it was a priority for McGettigan’s to find a new POS that allowed them to continue their integration.
“We are excited to be working with Shiji’s cloud-based Infrasys POS as it pushes our mutual customer into the next level of hospitality technology. As a global enterprise and heavily tech-reliant software, we rely on advanced technology to create seamless guest experiences, which we have successfully integrated with Shiji’s software. Together we have combined our technology for the pilot McGettigan’s outlet in Dubai, and will continue to onboard more and more properties as travel restrictions begin to lift and overall recovery continues,” said Chris Dunkley, Co-Founder and Managing Director of The Barstock Exchange.
“Being a cloud-based POS with open API, our Infrasys team and Barstock Exchange started working together on integrating our two platforms based on the existingAPI. The COVID pandemic was one of the external challenges that impacted our integration process, but we took this as an opportunity to develop a new specific open API, which allowed us to meet the needs of the event driven business,” said Angie Bartholomew, General Manager UK & IE, Shiji Group.
The new specific open API offers Infrasys customers to add-on the new upselling event driven solution to be installed in just 24 hours. As the hospitality industry was thrust into unpredictable market situations due to the global pandemic, more and more reopened businesses are now navigating the challenges in generating enough revenue after occupancy rates dropped by at least 50% due to distancing requirements. With the proper technology implemented in restaurants and bars, F&B outlets can find alternative solutions to generate revenue. For example, Barstock Exchange was able to help one of their customers who hosted a weekly event to increase their revenue by almost 480% over a 7-week period.
Summary
Staying up to date with innovative technology is imperative for F&B businesses to stay relevant and ahead in uncertain times as it equips customers with more functionalities, upselling capabilities and helps increase guest satisfaction. It is even more important for hospitality organizations to work with the technology partners that are not only secure, but also provide with flexibility and expertise. As businesses begin to reopen as recovery continues in many parts of the world, technology is more necessary than ever to make the changes to adapt to these new times.
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