Survey: Franchise and Independent Restaurateurs Say Technology Has Direct Impact on Increased Revenue
Findings in NCR restaurant tech survey also highlight challenges, which solutions are considered critical
A majority of restaurant owners and managers – 67 percent – believe that technology has a direct impact on increased revenue, according to the 2015 NCR Restaurant Technology Pulse. The independent survey also found that 35 percent of restaurants are more dependent on tech tools compared to a year ago.
The survey, which polled owners and managers of franchise eateries and small independent restaurants, was commissioned by NCR to offer a better feel for how technology is used and perceived in the foodservice marketplace.
“Restaurant owners and managers often work in fast-paced environments in which they tackle a variety of business challenges from inventory management to customer service to employee training and retention,” said Chris Poelma, president and general manager of NCR Small Business. “It’s clear they need complete technology solutions that simplify their business and help improve efficiency and drive revenue.”
More Money, But More Tech Problems
While the majority of respondents are experiencing a positive impact on profits, only 31 percent of respondents have an internal employee who can manage technology for their business. Further, a majority of respondents (83 percent) ranked costs to maintain or upgrade technology as one of the biggest obstacles that keep them from upgrading to new technologies. More than half (53 percent) also stated they lack the staff to manage IT upgrades.
Mobile POS Beats Out Mobile Apps
Despite challenges, technology still plays a significant role for restaurant owners and management. Sixty-two percent of respondents view technology as “important” or “very important” to their businesses. When looking at which solutions they relied on most, mobile point-of-sale (POS) systems outranked mobile apps:
- Cash registers (91 percent)
- Wi-Fi (74 percent)
- Mobile point-of-sale (60 percent)
- Accounting software (58 percent)
- Inventory management (54 percent)
- Time clock software (53 percent)
- Voice and broadband services (52 percent)
- Mobile apps (42)
Cooking Up Efficiency
One of the primary benefits of technology is its ability to improve restaurant performance. Eighty-nine percent of respondents attributed cash registers and credit card readers to boosting productivity at their business. Eighty-four percent said Wi-Fi improves efficiency, and 78 percent said the same about mobile POS solutions.
Additionally, more restaurants are going online as a way to connect with current and potential customers. Almost 70 percent of the surveyed restaurants have accounts on social media, and 63 percent have traditional websites. Only 17 percent of the respondents still lack an online presence. At the same time, 81 percent of respondents do not offer their menu items through mobile takeout apps like GrubHub and Eat24.
More details on the 2015 NCR Restaurant Technology Pulse are available at http://blog.ncrsilver.com/wp-content/uploads/sites/3/2015/06/NCR-Restaurant-Technology-Survey-Fast-Facts.pdf.
About the 2015 NCR Restaurant Technology Pulse
NCR commissioned the blind survey of restaurant owners and managers in May 2015. The independent survey included a total of 154 respondents. Twenty-two percent of the respondents were part of a franchise. Sixty-five percent of the respondents’ businesses posted yearly revenue of $250,000 or more.
About NCR Corporation
NCR Corporation (NYSE: NCR) is the global leader in consumer transaction technologies, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.
NCR is headquartered in Duluth, Georgia with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries. The company encourages investors to visit its web site which is updated regularly with financial and other important information about NCR.
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