Modern consumers expect restaurant operators to use and fully integrate cutting-edge technology into their business model. However, most restaurant operators in the industry find themselves unable to keep up with today’s constantly evolving tech trends.
On the latest episode of The Barron Report, host Paul Barron chats with three emerging companies that are handling the necessary tech shifts for operators so that the restaurant industry can focus on doing what it does best: making delicious food.
Sterling Douglass is the co-founder and CEO of Chowly, a first-of-its-kind company that helps restaurants lower the cost of labor and improve margins by fully integrating a restaurant’s third-party online orders into its point-of-sale system. Simon Bocca, the COO of Fourth, has helped his company grow into a comprehensive provider for practical restaurant and hospitality management solutions. As the founder and CEO of next-generation software platform Harri, Luke Fryer is dedicated to finding employee-facing solutions for labor-related challenges in the hospitality industry.
Douglass notes that third party delivery companies are beginning to consolidate and become more amenable to restaurants. “Third parties are moving away from the growth-at-all-cost phase. Tech companies have tried to get into the virtual kitchen space and fail—they have much more success helping restaurants and using technology. You need a marriage of both.”
“Restaurants need to differentiate themselves by making the customer experience right for that business,” says Bocca. His company, Fourth, provides data dashboards for restaurant operators so that anyone at any level in the company can examine the data, troubleshoot problems, and plan accordingly. “Everyone is fighting for the same customer.”
“All of us, regardless of age, have been incorporating these trends and behaviors into our daily lives,” says Fryer. He contends that operators need to start treating employees as consumers to help stabilize the industry-wide retention problem. “The issue is that if we’re not putting technology in front of our employees that engages them and satisfies them, then that has a direct correlation to retention. It’s the industry’s biggest challenge by far.”
Learn more about these three breakthrough companies and how restaurant operators can address today’s tech challenges in the above episode of The Barron Report. And if you would like to keep listening, check out The Barron Report on iTunes Now!