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RETAIL
November 26, 2024
The hospitality industry is undergoing a significant transformation, with both diners and operators expecting advanced functionalities from Point of Sale (POS) systems by 2025 and beyond. As dining habits evolve and technology advances, POS systems are expected to provide enhanced flexibility, seamless integrations, and data-driven capabilities that cater to both operational efficiency and customer convenience.
Mobile Integration: A Priority for Operators and Diners
The shift toward mobile solutions is evident, as 84% of operators plan to upgrade their POS systems, and 50% aim to integrate mobile POS options. These upgrades align with customer expectations, as 66% of diners want the ability to place orders via mobile devices, while 58% prefer paying through mobile platforms. Additionally, in full-service restaurants, 32% of diners expect table-side payment options, underlining the growing demand for convenience.
Streamlined Operations and Digital Engagement
Digital engagement is a top priority for 59% of operators, with POS systems playing a pivotal role in automating labor-intensive processes, reducing transaction times, and providing real-time performance analytics. These capabilities not only enhance operational efficiency but also help operators improve guest experiences by tailoring services based on data-driven insights.
Challenges in Innovation and Integration
Despite advancements, challenges remain. Nearly 44% of operators cite difficulties in integrating POS systems with legacy software, while only 30% express satisfaction with the pace of vendor innovation. The need for seamless integration with tools like loyalty programs, reservation platforms, inventory management, and workforce solutions is critical to addressing these gaps and improving overall system functionality.
Looking Ahead: AI and Advanced Analytics
The future of POS systems lies in leveraging AI for predictive analytics and automation. From recommending staffing levels to personalizing guest interactions, AI-enabled POS platforms are expected to redefine the dining experience. Features like voice recognition and autonomous ordering could soon become standard, enabling operators to enhance engagement while streamlining operations.
In conclusion, the evolution of POS systems is set to revolutionize the hospitality industry, providing the tools necessary for restaurants to stay competitive while meeting the growing demands of tech-savvy diners. The focus on mobility, integration, and advanced technology will be key to shaping the future of dining experiences.
ASSORTMENT
October 04, 2022
OTHER
September 30, 2022
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Deck 7: What is your favorite part of working at ripe.io?
RACHEL GABATO: My favorite part of working at ripe.io is the diverse background of people that ripe.io has brought together. We’re a blockchain technology company with a mission to build long-lasting trust and confidence in our food supply chain through a platform where everyone can access transparent and reliable information on the origin, journey and quality of their food.
Our co-founders originate from the fintech space, so they were very familiar with blockchain as a technology. They assessed multiple industries and identified the food supply chain as a industry which could be transformed by leveraging this technology. I didn’t have any knowledge of agriculture and the food supply chain, but I had a background in retail supply chain technology. However, we also have food scientists, data scientists, farmers, sustainable agriculture specialists, flavor specialists, blockchain technologists on staff; it’s a diverse group that has their own specialty but when we have ideation sessions, the education and sharing that happens is tremendous. This is one of my favorite parts of ripe.io – seeing us all educating, supporting and working together to work on our common mission.
If you would have asked me two years ago if I would be visiting farms, I would have said no. However, much has changed, and I’ve been on hog farms, produce and citrus farms, sugar cane farms, etc. and visited all participants involved in the supply chain. I find this space incredibly fascinating and interesting. I now have a much better understanding where food comes from, how it gets to us, how it’s grown and handled. I’ve learned a tremendous amount from our team and it’s the intersection of technology and solving the challenges of the food supply chain which I’m incredibly passionate about.
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