Food Tech Stories: Digital Transformation of Restaurant Industry

Based on How Restaurants Can Adapt to the Digital Economy. 

According to Pierre Nanterme, CEO of Accenture,

‘Digital is the main reason just over half of the Fortune 500 companies have disappeared since the year 2000.’

And today, digitalization of your business is a fundamental and urgent advance to give new income and worth-generating opportunities.

Being frequently used as a buzzword, this phenomenon may be a mystery to business old-timers who are used to running their business in an old-fashion way. In fact, digitalization is as easy as ABC.  Per se, it is a process of changing data into the computerized structure. In business practice, it's used to change a business plan and give you an upper hand. If done properly, digitalization can help reexamine processes, improve quality and advance consistency. 

You should never underestimate the importance of platforms, data, and algorithms. Many companies are currently going online in an offer to streamline the administration and everyday running of activities. This enables you to store data, backups, supervise work process and document management as well as go for remote working. The procedure is quicker, more effective and more secure than offline counterparts. 

Some companies deem digital transformation a costly and unnecessary change. And you can’t blame them for that, since the process does take time, investment and patience. Especially restaurant owners are often reluctant to go for it. But they have never been so wrong.

According to @e.p.m.vermeulen who is a business & finance professor, digital lawyer and most importantly, a restaurant owner, restaurants cannot ignore the digital economy. For them, going digital means opening up a world of endless business opportunities and changing the whole business image. Among the most effective digital tools are digital and delivery service platforms, social media, and emerging technology.

Thus, digital platforms like Groupon help you attract your target audience and connect with new guests. Whereas delivery service platforms are the most obvious and necessary step if you want to enliven your dying food business. I mean, who doesn’t like chilling out on a couch with delicious food delivered directly to your doorstep?

As for social media, it’s not even an option now. It is a paramount part of your business marketing strategy nowadays. Social media is a middleman that connects you with your customers and builds your visibility.

However, these are not the main perks of the digital approach. Digital economy helps you create not just a business, a restaurant or a shop. It is the foundation stone if you want to create an ecosystem within your business and build a flexible infrastructure. The realities nowadays are that if you are not online, you don’t exist.

Read the whole story here: How Restaurants Can Adapt to the Digital Economy

Created by Tatsiana Isakova

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