Integrated Marketplaces Bridge The Technology Gap In The Restaurant Ecosystem

Restaurant Technology

Technology presents unique solutions for restaurants to differentiate themselves and for owners to run their businesses more efficiently. In turn, it leaves more time and energy to focus on delighting guests with delicious food and new memorable dining experiences, be they in-house or off-premise. Based on our recent PRIME report, the UAE restaurant industry is looking to embrace technology and new methods of managing operations. The POS systems become the anchor for many of these transformations.

According to a report by Grand View Research, the global restaurant point-of-sale terminal market size is expected to reach US$25.95 billion by 2028. It is likely to expand at a CAGR of 6.4 percent between 2021 to 2028. The need to facilitate multiple payment options, inventory tracking, automated analysis, quick service, centralised recipe and menu management, and customer relationship management (CRM) is boosting the demand for restaurant point-of-sale (POS) software over this period. While restaurants continue their recovery in 2021, cloud-based platforms like ours have taken measures to introduce new features beneficial for planning the recovery roadmap for restaurateurs.

The SaaS (software as a service) segment has always offered a marketplace where you can use it as a platform to integrate much-needed services without having to invest in individual services. These integrated marketplaces offered by these POS systems allow restaurants to easily browse, try, and install trusted applications with one click. In addition, the marketplace also provides developers to easily build apps for restaurants to manage front of house (FOH) and back of house (BOH) operations. By providing restaurants with one-click activation of these solutions, the app marketplace is designed to help brands achieve bottom-line growth.

These marketplaces also offer restaurants a path to efficiency and customisation but also helps the ecosystem by helping the likes of aggregators with the latest step in their roadmap to connect restaurants and cloud kitchens with new technologies to manage the entire life cycle of restaurant operation.

POSist’s marketplace, for example, currently has over 150+ technology partners that include leading technology players and platforms in the industry that brings across everything from delivery, accounting, and cloud telephony to payments under one platform.

This article was originally published in the CATERER MIDDLE EAST on July 19, 2021. 

Views expressed by Ashish Tulsian, CEO & Co-Founder, POSist Technologies. 

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