Industry trends: How catering companies are benefitting from point of sale software in trying times
In these uncertain economic times, the contract catering sector is facing a pincer movement on two fronts. On the one hand, customers are squeezing their profit margins as they struggle with increasingly tight budgets for corporate hospitality and catering services. On the other hand, catering companies are also facing the increasing food costs that are symptomatic of wider economic problems. Whilst food price increases in staples such as grains are widely reported, other commodities such as tea have risen in costs by as much as 30% over the last two years.
Faced with these challenges it has become even more imperative for catering companies to adopt a strategy where efficient management of resources and sales opportunities is at the forefront of driving down costs, increasing revenue and ultimately maximising profits. The events industry is overall still very lucrative. According to a recent report by the Business Visits & Events Partnership, the sector is now worth £36.1 billion and sustains at least 53,000 full-time equivalent jobs.
What can catering companies do to improve?
One of the fundamental things a catering company can do is introduce a software solution to replace inefficient manual processes and offer a streamlined approach, thus creating a culture of efficiency. One such solution is the Aloha point of sale software.
Aloha is being used by a number of leading UK catering companies, including Kudos Hospitality, operator of Cambridge Corn Exchange, The Brighton Centre and Northern Ballet. In addition to increasing speed of service at the point of sale, Aloha also offers new and unique ways of working, such as the integrated barista video monitor, for fool-proof coffee preparation.
In a fast-paced environment such as Cambridge Corn Exchange, a major concert venue in the historic city, it is imperative to ensure that, for example, interval food and drink requirements are delivered smoothly. But increasing the efficiency of F&B services is only part of the equation. Increasingly, it has become more and more important for catering companies to maximise their sales opportunities.
Kudos Hospitality’s use of centralised, multi-location technology is making them more efficient in many ways.
o They are able to generate more business and revenue both for themselves and their clients
o They have improved management processes and accountability
o They are able to offer better customer service
Point of sale software offers tremendous benefits to catering operators. In these difficult times, what else do you feel can be done to increase efficiency and profitability?