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August /September 2024 IX MAGAZINE real-time stock monitoring, preventing waste and optimising orders with suppliers. Software such as MarketMan offers cloud solutions that help managers control inventory accurately by integrating with POS and payment systems to provide a complete overview of the business. This also benefits from greater transparency regarding costs and profit margins, which are essential for efficient financial management. And bookings? They go through brands like TheFork, OpenTable or similar, which reorganise, optimise and reduce costs and waiting times by oiling the internal supply chain. These are all systems that can be synchronised with digital menus and payments. The complete ecosystem that is created simplifies the experience for both the customer and the operator. Crucially, thanks to these technologies, no-shows, i.e. missed bookings, can be reduced and table occupancy maximised. THE MARKETING OF ONLINE MANAGEMENT AND REPUTATION These are aspects that cannot be overlooked. The use of Google My Business and TripAdvisor offers entrepreneurs/ restaurateurs the possibility to monitor and respond to customer reviews, but also to implement targeted marketing strategies. Take, for example, the possibility of using a CRM: we could collect and analyse data on customer habits, creating customised offers or promotions based on individual preferences. This would not only improve loyalty, but it would also atrract new customers with targeted offers. With an increase in turnover. __________________________________ BOX Learning from fast food At least when it comes to management, fast food restaurants excel in efficiency thanks to innovations such as digital menus, fast payment and automated processes, while traditional restaurants focus on experience and service quality. However, the latter often struggles to adopt technologies that could improve operations and reduce waiting times. Learning from fast food, integrating digital tools without compromising customer focus, would allow traditional restaurants to streamline processes, improve efficiency and maintain a high level of service. It’s time we looked less distrustfully at the strategies and tactics of large chains. __________________________________ BOX Brief glossary DSPs are a set of techniques, technologies, algorithms that allow a continuous signal to be processed after it has been sampled. CRM (Customer Relationship Management) is a technology to manage all of a company’s interactions with existing and potential customers. Contactless is the type of payment that is realised through a system that does not require direct contact between the devices used for this purpose (such as credit cards or mobile devices) and the terminals authorised to receive the payment (POS). __________________________________ BOX The report ‘Restaurant Digitisation Solutions - Global Strategic Business Report’ estimates that the global market for restaurant digitisation solutions, valued at $7.6bn in 2023, will reach $20.1bn by 2030, with a compound annual growth rate (CAGR) of 14.9%. Emerging technologies, such as AI and blockchain, are revolutionising the industry, improving efficiency and customer experience. The adoption of digital solutions is driven by demand for greater speed and convenience, with significant growth expected, especially in markets such as the US and China. __________________________________ BOX Goodbye waste: leftovers will be a memory Without compromising on standards, it is now possible to adopt technologies to monitor and reduce waste. The tech. co study found that more than one in five (21%) restaurants plan to purchase food cost management software within the next 12 months. This makes it the most common technology that businesses are planning to adopt, followed by digital menu kiosks and loyalty programme software. This type of software is already used by 40 per cent of companies in the hospitality industry, and its increasing adoption is a clear indication of how rising interest rates and a challenging macroeconomic environment are affecting purchasing intentions. __________________________________ BOX 13 ways AI will improve the industry According to Forbes research, AI could change the way restaurants manage their daily operations and the way they serve customers. Thus, 13 members of the Forbes Technology Council had their say. Highly personalised experiences “AI will enable the creation of personalised experiences with menu suggestions and music based on customer preferences.” - Matt Hughes, Microsoft Assisting dining room staff “AI can help manage inventory, organise shifts and monitor when customers are ready to order or pay.” - Satpreet Singh, Pinnacle Digital Advisors Guidance on meal choices “Digital menus with virtual assistants could provide information on ingredients, nutritional values and allergens, freeing up staff”. - Konstantin Klyagin, Redwerk Recognition of repeat customers “AI with facial recognition could identify repeat customers and personalise their experiences”. - Merav Yuravlivker, Data Society Reduction of unsatisfactory orders “AI could analyse the reasons why dishes are returned and find solutions to improve the quality of meals.” - Syed Ahmed, Act-On Software Food preparation robots “Autonomous robots, such as Flippy 2, can handle culinary tasks, improving productivity and reducing costs.” - Jeff Wong, EY Order automation “AI-based customer service systems could automate order processing, making the process faster and more accurate”. - Phil Portman, Textdrip Freeing up chefs’ time “AI-enhanced kitchens could automate tasks and free up chefs for more creative roles.” - Shelli Brunswick, SB Global LLC Customer preference model “AI-based predictive solutions could anticipate customers’ desires, offering unique dining experiences.” - James Stanger, CompTIA Customised menus for each customer “AI could customise menus according to the customer, even varying prices to maximise revenue”. - Nicholas Domnisch, EES Health Optimising energy use ‘AI could regulate light and climate according to occupancy, reducing costs and environmental impact’. - Marc Rutzen, HelloData.ai Digitisation of recipes “AI could digitise recipes and cooking techniques, helping cooks to maintain consistency in dishes.” - Marc Fischer, Dogtown Media LLC Optimising the use of resources “AI can optimise the use of ingredients and reduce waste, improving the efficiency of food preparation.” - Ryan Lasmaili, Vaultree __________________________________