Develop a plan
Restaurant operators have long been intimidated and generally slow to adopt technology to support their restaurant business. Since 2007, Michael Atkinson, FOHBOH Co-Founder of FOHBOH, has made a career of re-imagining and redesigning what a restaurant tech-stack strategy could be for a modern restaurant. In Michael’s experience the first step in achieving this plan is to develop a strategy. Many professionals may believe the initial plan includes purchasing a new POS, or randomly adding a point solution as recommended from salesperson’s call. Today, it is critical to one’s business to take the necessary time to truly understand the operation and current technology systems. Read below as Michael details the best way to upgrade your operating system and how FOHBOH can assist in the ever-changing restaurant business.
Avoid quick decisions
Impulsive decisions when it comes to adopting technology oftentimes create more work. Restaurant operators should give their decisions regarding technology the same consideration as developing a restaurant concept, site selection, design, menu, or service standards.
Customize the approach
Ideally, a restaurant should operate with a supporting system that is designed to support their business today and flexible for what tomorrow may bring. It is indeed mission critical today to hire Restech experts that have both operations as well as technology backgrounds and who are willing to dive deep to understand the specific business prior to making recommendations. There are many hundreds of technology vendors that offer essential systems of record and other ResTech that can super-charge these core systems. But ask yourself these key questions:
· What is the strategy?
· How does your tech-stack look like?
· Is an integrating system important to you?
· How do you utilize your operating and customer data?
· Do you own control your technology?
Control the technology
Control is important and should not be handed over to any single vendor. The idea of being nimble is critical not just for controlling technology systems, but also operationally so one can adjust to changing times. Challenging economic cycles are unpredictable and the global pandemic has taught us all an invaluable lesson in flexibility. The past two years have been taxing and forced everyone to be creative in the way business is conducted.
Make the investment
Technology is mission critical. Investing in technology is essential along with a deeper understanding of how it can benefit those in the restaurant business. Many businesses cannot afford full-time technology professionals or data scientists. Thus, one must rely on systems that work for the business not against it. A Restech professional develops a customized plan and tech stack for each operation.
The top six technologies that deserve your attention today are:
1. Inventory management-manage inventory and increase stock count frequency to increase cash flow
2. CRM-Capture data to better engage with customers – best working with your loyalty app
3. Omni-channel marketing-Digital marketing strategy and execution requires specialized digital marketing skill and a deep understanding of SEO and social landscape
4. Omni-channel digital ordering-there are many channels to capture valuable customer information
5. Workforce management-Labor has always been a challenge, but now, staffing and training and retaining employees requires technology to enhance productivity
6. Cloud-based POS, with an open architecture a friendly to third-party apps
Technology is here to stay. Restaurant operators must embrace change and stay relevant to continue to be a key player in today’s market. FOHBOH offers customers a customized tech stack strategy along with a marketing strategy that is well-suited for your business. Contact FOHBOH today to learn more about modernizing your restaurant tech stack.