Innovative Tech Boosts Efficiency and Profits for Restaurants
Despite thriving Main Street businesses, restaurants face unique challenges. PYMNTS Intelligence found that while small business sales grew 5.6% year-over-year in April, restaurant spending dropped 3.1% from March and 0.2% from April 2023. Mark Hennin, head of Clover Growth at Fiserv, underscores the importance of technology in improving restaurant efficiency and profitability, given their slim margins of 5-10 cents per dollar.
Fiserv's latest innovations, Clover Kiosk and the 24-inch Clover Kitchen Display System, aim to address these issues. The kiosk enables customers to browse, customize, order, and pay without waiting in line, while the Kitchen Display System integrates online and in-house orders, reducing errors and improving communication. These systems, linked with Clover POS, enhance the dining experience and operational efficiency.
Self-service devices boost spending by 10-30% through cross-selling and up-selling, freeing staff for personalized service. Loyalty programs and data-driven capital advances further support restaurants, improving customer engagement and financial stability. Embracing these technologies helps restaurants navigate challenges, enhance efficiency, and drive growth.
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