Technology Is Now Playing A Key Role in FnB Industry

Himanshu Khona, Director, Done Solutions Pvt. Ltd

 DONE is a cloud based Order Management, CRM and Analytics platform for F&B Industry

If I were to talk about something that has progressed more than anyone could have imagined, I’d say - technology. From Nokia 3310 to iPhone 6, from 56 kbps Dial-Up to 100 Mbps Broadband connection, from changing the definition of cloud as ‘fluffy white things in the sky’ to ‘remote data storing devices’, everything has changed more than we could ever imagine.

Every industry - eCommerce, Telecom, Automobile, Banking, Tourism - is riding on the wings of technology. When all these industries are taking advantage of all these advancements, FnB industry cannot be far behind. Foodiebay, as soon as it tasted success, changed its name to Zomato and now it’s established in 32 countries. Foodpanda, an online Food ordering platform, is a hit among the users. With other players like HolaChef, Swiggy, TinyOwl and many others, the list goes on. A little catch here is that all of these business models cater to the needs of ‘customer. All of them work on an aggregator model. With cut-throat competition among restaurants and QSRs, the need to enhance the Order management process for them has become a necessity. Now it’s not enough to serve good food, but having a smooth Order Management system is a must for restaurants for survival.

Apart from the conventional challenges like managing kitchen appliances, staff management, furniture and interiors, vegetable vendors, packaging material, the restaurant owners now also have to enhance the customer experience they offer, by keeping up with the technological advancements. Making your restaurant’s presence online has become equally important as real-estate investment. Though a small part, the online space investment and management now plays a big role in creating Brand reputation. Customers want all the possible avenues for ordering, Call, App, or Web, and any restaurant who misses out on any of these things, remains two steps behind. Some of the challenges that many entrepreneurs tend to ignore are customer re-targeting, logistics, analytics and a centralized Order Management platform.

An Order Management system provides multiple modes of ordering avenues. The customers can order via any medium of their preference. This allows the restaurant owners to focus on their core activities such as creating more trademark dishes. If you take a deeper look at the current market scenario, lower customer loyalty and lack of insightful data, though an often ignored part, has a huge affect on sustainability and profit. In FnB industry, proper market analysis, tracking & engaging existing customers, and efficiency are key driving factors. Restaurants are still struggling in this area due to unorganized data.

Many restaurants face the problem of missing orders during rush hours. A Call Centre, in this case, ascertains smooth workflow and high-quality standards. In-house call centre, assigns restaurant with an exclusive phone number via which all the orders can be redirected to restaurant’s outlet or kitchen. Although the core of their platform is Order Management, the analytics section provides many actionable insights like the most favourite dish, best performing outlet, the most preferred medium of ordering, and many others.

The management and analytics solutions are fragmented in the F&B industry, and it is difficult for the restaurant owners to merge and manage these solutions. In an era, where we can clearly see technology assisting every industry in the country, it’ll be interesting to see how FnB industry takes advantage of this growth.