There doesn’t appear to be a single industry that can’t benefit from technology. Hospitality is one of the sectors reaping the most rewards by making it a central part of its service model.
Join us as we explore how employing digital innovation is benefitting hospitality businesses in more ways than one.
Apps
With a seemingly endless variety of apps now available, many customers expect one for every part of the service a business provides. Restaurants, cafés and takeaways can now make the majority of their processes app-based.
Food choices can be made, delivery can be booked, and customers no longer need to spend time trying to get their server’s attention in order to settle the bill. They can receive and pay it using an app instead, adding a tip if they want – resulting in a more satisfactory experience and a vacated table for the next round of hungry diners.
Hotels are making use of apps that allow guests to reserve themselves a room, call for room service or easily upgrade to a VIP package. Some even give details on directions, the weather forecast and things to do in the local area.
Artificial intelligence
Hotel businesses can provide information to customers through artificial intelligence as well. A robot can engage with guests by processing their questions and telling them what they need to know.
This interaction can be on an app, the hotel’s website, or even by text communication. Chatbots are becoming increasingly popular, offering customers 24/7 assistance through automatic responses. It’s therefore unnecessary to have team members available at all times to provide customer service, saving time for each party involved.
Some restaurants are even using augmented reality to present a 3D version of their menu to customers. Instead of a photo that doesn’t really tell them anything about what the meal will be like, they can now much more easily visualise its authentic appearance.
Data
Once integrated, these forms of technological innovations can then be analysed. Hotels can study booking trends, accurately predict future demand, and be able to effortlessly see what’s working and what isn’t.
Both hotels and food establishments can use social WiFi. This allows them to collect data on their customers and, more specifically, target them. With all the information available, they can accurately understand customers’ needs, as well as the demographic they fall into. Using this data to offer every customer a more personalised experience allows them to boost satisfaction levels, increasing the chances of positive reviews and new and repeat business.
Simpler finances
It’s not just an enriched customer experience that is helping to enhance the hospitality service model. The back end is being improved by technology too – through its incorporation in the financial side of running these companies.
Cloud-based software makes keeping on top of accounts much more straightforward. Those in the hospitality sector can manage their cash flow, quickly produce invoices, and report on their finances with ease.
It can additionally help with staff management. Many hospitality businesses offer large discounts to keep foot traffic up in January, but proactive staff management is crucial if they want to ensure that overheads are reduced in line with turnover in the quieter weeks. Technology makes this process much easier and informs the management team in their decision-making. They can base their rationale on accurate information that’s updated daily, rather than having to make assumptions based on historical data.
The staff rota system, together with timekeeping figures, can now be integrated with an electronic POS system. This can then be linked to payroll software or accessed directly by an accountant through the cloud to streamline an otherwise time-consuming procedure.
Equally, the EPOS makes the daily cash up easy and accurate. When integrated with bookkeeping software, it enables the business owner to access important, real-time information and avoids duplication of work or human error.
To discover the cloud accounting solutions that we have available, get in touch with Nabarro Poole today. We have over ten years’ experience in providing accountancy services to the hospitality industry. And it’s not just the technological aspect we can help with – our bespoke services include budgeting and forecasting, compliance and tax planning too.
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