How Technology Can Actually Decrease Costs And Increase QSR Profits

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As the industry is keenly aware, not only did health and safety guidelines vastly change for restaurants across the nation in 2020, but unavoidable adjusted consumer trends also meant that many brands scrambled to make heavy technology investments that would support operators in making the right decisions for their businesses to survive in the new normal. In this episode of The Tip Share, we dive into the first segment of our 3-Part mini-series for QSR growth strategies. During this segment, RASI Director of Partnerships, Brad Bertram, chats with Don Kreye, Delaget Director of Partnerships and Don Bye, Delaget Client Success Manager to discuss technology and automation within the QSR industry and how it’s continuing to impact operations.

HOW CAN TECHNOLOGY HELP INCREASE RESTAURANT PROFITS AND WHAT SHOULD RESTAURANTS LOOK FOR OUT OF THEIR TECH TO SEE THE MOST IMMEDIATE RESULTS?

STREAMLINED DATA: Many operators are either getting their financial information a month or two months late, or even after the period ends because they don’t have the technology to support weekly financials. Receiving crucial data and KPIs (key performance indicators) as quickly as possible is vital for an operator to correlate their business decisions with fiscal accountability.

AUTOMATION: The restaurant business is by nature, built around manual processes, but that’s something that’s changing and rightfully so. Systems that can help automate operational processes are not only going to help save time, but they’re also going to help eliminate the unavoidable fact of human error when employees are constantly working in spreadsheets and doing everything by hand, ultimately, providing greater accuracy and visibility into the business.

It’s imperative that the data is automated from a source of truth, typically the POS, and integrated into other technology. This eliminates disjointed systems and manual processes, paving the way for better decision making and increased profits.
– Don Kreye, Director of Partnerships, Delaget

EFFICIENCY: A lot of restaurants are out there looking at 10 to 15 different technologies in their restaurant technologies stack; utilizing fragmented systems can create chaos and lead to misinformation. The key to creating efficiencies and streamlining processes is consolidating these disparate systems into one unified platform.

Think about when you pick up your iPhone in the morning. There are 17 different apps that you’re going to check out. Relating that to the restaurant world, can you consolidate those 17 apps into a single source that can provide you with all the data you’re looking at on a daily basis?
– Don Kreye, Director of Partnerships, Delaget

WHAT ARE SOME EXAMPLES OF VARIOUS TECHNOLOGIES THAT ARE HELPING OPERATORS TO BE MORE INFORMED AND NIBLE?

  • Accounting
  • Payroll
  • Earned Wage Access
  • Video Surveillance
  • Scheduling
  • Labor management
  • Hiring & Onboarding
  • Marketing

WATCH THE FULL VIDEO BELOW:

WHY ARE SOME OPERATORS HESITANT TO USE TECHNOLOGY AND HOW CAN THEY ALLEVIATE THOSE CONCERNS?

Oftentimes operators are concerned about the risk and uncertainty surrounding the overall impacts of implementing new technology: Not having a technology background, not being able to use it properly, not getting their teams to adopt the new technology, the hefty price tag associated with it.

All of these concerns are valid; however, it’s easy to forget that so many of these technology companies provide industry experts. These data experts can help evaluate an operator’s current situation and show them different ways to run their business with the use of the technology.

An operator’s best bet is to critically view a salesperson, not in sales, but as an expert within their industry, and then decide if that expertise aligns with the business goals to see if they can help.

Remember: Don’t just go out and purchase the fanciest software available.

Ensure that what you’re purchasing is backed by industry experts (not all software’s have this) that are not only willing to help you integrate the software into your current systems, but are also continuously there to support you when you need them most, helping your restaurants’ profits and growth. Here are the top tips for integrating new tech successfully:

  • Utilize support teams
  • Involve management teams in the training of new technology
  • Set clear expectations for the knowledge and use of the tech
  • Learn how other operators are successfully utilizing the tech
  • Ask the experts how to utilize a new piece of technology to its fullest capability
  • Understand there are always learning curves and stick with it

LISTEN TO THE FULL PODCAST EPISODE TO HEAR THE TOP TWO PIECES OF ADVICE FOR LEVERAGING TECHNOLOGY AND AUTOMATION AS A FRANCHISE RESTAURANT!!

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