Recipe for Success – How Technology Is Revolutionizing the Restaurant Industry

The hospitality industry has until very recently been known to drag its feet when it comes to new technology. This partly results from a persistent and prevalent status quo bias that adapting to new tech is costly and tricky to implement. This was however, until COVID-19 changed everything.

Cloud-based technology has been leading the tide of change over the last couple of years. Despite rising ingredient costs and staffing shortages, more than half of the 8,000 restaurant operators and owners polled globally in Lightspeed’s State of the UK Hospitality Industry, agreed that adopting new technology over the past two years has been critical to their success. The most widely adapted tools this year include new or expanded online ordering, contactless payments, QR code ordering and new POS and restaurant management systems. 

Software-as-a-Service (SaaS) technology has also rapidly gained traction as operators adapted to changing expectations while meeting demand for quick, convenient…