Point-of-sale (POS) systems now do more than just take payment. They are part of a completely integrated system that allows businesses to bring the front and back end of their operation together.
The partnership between Lavu and Omnivore is expanding on this integration by giving restaurant operators more tools. With this partnership, operators will be able to bring their Lavu POS system for the frontend. And Omnivore will provide its ecosystem of back of house, front of house and outside of house third-party solutions.
Restaurants and Technology
Technology is playing an important role in the restaurant industry and it is becoming crucial to their success. For small businesses, this technology is allowing them to compete with their much larger national operators.
According to the National Restaurant Association (NRA), technology is responsible for increasing sales for four out of five restaurateurs. However, not all restaurants are optimizing the technology to take advantage of what it can offer. And as the expectation of consumers continues to grow in regards to technology integration, the systems have to be put in place.
The CEO of Lavu, Saleem S. Khatri, addresses this very point in the press release. He goes on to say, “We want to provide restaurant operators access to all the technology they need in one place.”
For his part, the CEO of Omnivore Mike Wior, addresses the consumer side. Adding, “Consumers today are expecting technology to be incorporated into their experience. Our collaboration with Lavu helps their customers easily navigate the rapidly advancing technology landscape needed to meet those expectations.”
The Lavu and Omnivore Partnership
Lavu is a global mobile point-of-sale and payment processing system for restaurants and bars. It is currently used in more than 90 countries. The platform provides a flexible payment-processing solution along with a propriety business management suite.
Omnivore offers an end-to-end solution to empower restaurants with guest and operational experiences. This includes everything from online ordering to pay at table, third-party delivery, kiosk/digital menu, reservations, loyalty, inventory, labor and analytics.
The integration is going to give restaurants better operational efficiency and the ability to leverage their data for future agility.
By connecting to more than 200 applications, Omnivore enables restaurant operators to be part of third-party solutions. This includes delivery, analytics, digital menus, guest engagement, online ordering and more.
The goal of this partnership is to deliver on the expectations of today’s consumers when it comes to dining out. Customers now expect a fully integrated system for orders, payment, delivery, marketing, reviews and more. Without these options in place, restaurateurs can not attract new customers nor keep their existing ones.
The Need for Technology in the Restaurant Industry
According to the same report from the National Restaurant Association, the adoption of technology in the industry is growing. However, it is not yet the norm across the board. Those businesses that have invested in technology are doing much better than their counterparts.
In the report, the NRA reveals 81% of restaurants use a POS or electronic register system. However, only 37% of them offer online ordering and another 32% accept mobile payment.
At the same time, only 12% of operators consider their operations to be leading-edge. And surprisingly 32% admit their operations is lagging when it comes to technology use.
Using Obsolete Technology
Another problem the industry faces is the use of obsolete technology. Many small restaurants are still using cash registers. While this may be quaint, it is greatly limiting the opportunities an integrated POS system offers.
With more people using their smartphones to find a restaurant as well as order and pay for their food, restaurants need to do more in adopting the latest technology.
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