CHICAGO, Dec. 1, 2017 /PRNewswire/ — Starfleet Research today announced the availability of two new Smart Decision Guides on next-generation hotel and restaurant technologies. These popular and authoritative resources are: The 2017 Smart Decision Guide to Restaurant Management and POS Systems and The 2017 Smart Decision Guide to Hotel Property Management Systems.
Both Smart Decision Guides are now available for complimentary download by hotel general managers, restaurant operators and other hospitality IT decision makers.
Independently produced by Starfleet Research, the leading provider of best practices IT market research for the hospitality industry, the new editions of these popular titles serve as invaluable resources for hoteliers and restaurateurs seeking to implement next-generation solutions to drive performance improvement.
Both Smart Decision Guides run 45 pages in length and have been completely revised and expanded from previous editions to reflect the latest market trends, guest behaviors and technological innovations. Both publications offer a roadmap for success for decision makers and influencers.
Restaurant Management and POS Systems
According to The 2017 Smart Decision Guide to Restaurant Management and POS Systems, 79 percent of restaurant operators believe that advanced technologies are the key to addressing many of their current challenges. At the forefront of these technologies are next-generation restaurant management and point-of-sale (POS) systems.
According to the new research:
- 95 percent of restaurant operators view the ability to improve guest satisfaction and the quality of the guest experience as one of the biggest benefits one can expect to gain with the right restaurant management and POS system
- 89 percent of restaurant operators cite the need for driving increased operational efficiency, including staff productivity, and reducing inventory waste as a key success factor
- 78 percent of full-service restaurants, and 62 percent of quick service and fast casual restaurants achieved “significant” or “dramatic” improvement in both operations and revenue performance after deploying a next-generation restaurant management and POS system
- Nearly one-quarter (24 percent) of restaurant operators who have not upgraded their core restaurant management and POS system within the past three years plan to do so in the next 12 months.
For most restaurants, the return on investment in a next-generation restaurant management and POS system can be measured in terms of cost reduction, which is largely a function of increased staff productivity and resource utilization. It can also be measured in terms of revenue growth. This is largely a function of improved guest satisfaction and, in some cases, faster table turn times — and, in certain venues, the ability to reach and serve a larger number of guests simultaneously. Additional selling points include the ability to improve financial performance with advanced inventory and labor management tools and better performance reporting capabilities.
Hotel Property Management Systems
The 2017 Smart Decision Guide to Hotel Property Management Systems highlights a number of emerging trends, including recent enhancements in analytics and reporting capabilities that are allowing hoteliers to generate more and better insights from their mountains of guest and operational data. It also emphasizes the importance of technology interoperability and data integration.
Among the key findings:
- 23 percent of hoteliers who have not upgraded their PMS within the past three years plan to do so in the next 12 months
- 89 percent of hoteliers believe that hospitality technologies are key to not only addressing many of their current challenges but also to catapulting their businesses to ever-higher levels of operational performance and guest satisfaction
- 91 percent of hoteliers “agree” or “strongly agree” that technology platform interoperability and compatibility is a key success factor for hotel performance improvement
- 96 percent of hoteliers believe that the biggest benefit to be gained with the right PMS is the ability to improve guest satisfaction and the quality of the guest experience
- 87 percent of hoteliers view the ability to generate analytical reports that reveal actionable insights that can help drive performance improvement as a key success factor with PMS
The benefits of a next-generation PMS are multifold. Streamlining operations across the organization and providing better management controls should lead to increased staff efficiency and reduce operational costs. Enhancing Guest Relationship Management capabilities should improve guest satisfaction, loyalty and retention. These improvements should be reflected in increased RevPAR and profitability.
Better data integration and accuracy should improve revenue management and channel management capabilities, also translating into favorable financial outcomes. Robust data analysis and diagnostic tools for performing year-over-year evaluations, identifying emerging market trends, analyzing guest behaviors, etc., should generate actionable insights that help drive continuous performance improvement.
Roadmaps for Success
With more than a hundred solution providers actively developing and marketing hospitality technology solutions, it can be difficult for decision makers to know where to start with the research and evaluation process. The 2017 Smart Decision Guide to Restaurant Management and POS Systems and The 2017 Smart Decision Guide to Hotel Property Management Systems offer a wealth of strategic guidance, practical advice and roadmaps for success for not only selecting the right technology solution but also for maximizing its value over time while driving continuous performance improvement.
About Starfleet Research
Every year, Starfleet Research, the IT market research arm of Starfleet Media, benchmarks best practices in technology-enabled business initiatives across thousands of hotels and resorts around the world. Starfleet Media also now publishes Hotel Technology News and Restaurant Technology News.
SOURCE Starfleet Research