{"id":6586,"date":"2019-06-13T17:45:52","date_gmt":"2019-06-13T14:45:52","guid":{"rendered":"https:\/\/www.lending-express.com\/blog\/?p=6586"},"modified":"2021-01-07T13:21:22","modified_gmt":"2021-01-07T11:21:22","slug":"new-restaurant-technology-trends","status":"publish","type":"post","link":"https:\/\/www.become.co\/blog\/new-restaurant-technology-trends\/","title":{"rendered":"6 New Restaurant Technology Trends for 2021"},"content":{"rendered":"\n<p><span style=\"font-weight: 400;\">We\u2019ve still got a way to go before restaurant technology reaches the point where meals are 3D printed to order (imagine that!), but that doesn\u2019t mean the technology used in the restaurant business today isn\u2019t already changing the industry. Indeed, restaurant technology trends are sweeping the country from coast-to-coast and revolutionizing the restaurant experience for us all.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Get your aprons on, because we\u2019re about to dig into the top 6 ways that business owners are incorporating technology in restaurants.<\/span><\/p>\n\n<h2>These are the 6 top restaurant technology trends in 2021.<\/h2>\n\n<h3><span style=\"font-weight: 400;\">1. Digitized Point of Sale (POS) systems for increased efficiency\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">POS, or point of sale, is the time and place where the financial transaction is made at a business. Up until recently, the restaurant POS systems were old-fashioned cash registers. Today, one of the most important pieces of technology in the restaurant industry is the digital restaurant POS system.<\/span><\/p>\n<p><b>Modern point of sale systems have multiple benefits, including:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Flexibility <\/b><span style=\"font-weight: 400;\">with the types of payments they accept (Apple Pay, Venmo, etc.)<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Data feedback<\/b><span style=\"font-weight: 400;\"> which allows business owners to optimize their inventory purchasing patterns, marketing strategies, and so on<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Speeding up checkout<\/b><span style=\"font-weight: 400;\"> by allowing customers to pay at their convenience on their mobile phone<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Retention <\/b><span style=\"font-weight: 400;\">of both customers and employees by providing appealing, up-to-date services that improve the <\/span><a href=\"https:\/\/www.become.co\/blog\/5-ways-improve-customer-experience-strategy\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">customer experience<\/span><\/a><span style=\"font-weight: 400;\"> and reduce stress for employees<\/span><\/li>\n<\/ul>\n\n<h3><span style=\"font-weight: 400;\">2. Using automated in-house digital ordering software<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You may be familiar with seeing in-house digital ordering systems in fast food chains like McDonald\u2019s. In case you aren\u2019t a fast food fan, in-house digital ordering typically comes in the form of big touch screens or even tablets that allow a customer to order for themselves and even make a payment without ever having interacted with an employee. What are the main perks of this restaurant technology?<\/span><\/p>\n<p><b>Advantages of in-house digital ordering systems:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Eliminate <\/b><span style=\"font-weight: 400;\">human error<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Upsell <\/b><span style=\"font-weight: 400;\">the money-making items<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Improve <\/b><span style=\"font-weight: 400;\">menu options by using data about ordering patterns<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Optimize <\/b><span style=\"font-weight: 400;\">customer-employee interactions by using insights from data<\/span><\/li>\n<\/ul>\n\n<h3><span style=\"font-weight: 400;\">3. Offering free WiFi for restaurant customers<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This point is pretty self-explanatory. If you don\u2019t have internet access in your restaurant, it will raise a lot of eyebrows (and drive away a certain percentage of customers). We live in the era of smartphones, and people can find any excuse to keep these handheld computers in, well, their hands! That being the case, it\u2019s in your business\u2019s best interest to give potential customers every reason to eat at your establishment and not at your competitors\u2019. This may seem like a no-brainer, but it&#8217;s worth the reminder since so many other restaurant technologies will ultimately depend on the availability of a strong and reliable internet connection.<\/span><\/p>\n<p><b>Perks of providing WiFi in your restaurant:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Attract customers <\/b><span style=\"font-weight: 400;\">who continue working remotely while they\u2019re eating<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Keep existing customers<\/b><span style=\"font-weight: 400;\"> at your business for longer, thus raising the chances of them ordering more food or drinks<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Maintain a reputation<\/b><span style=\"font-weight: 400;\"> for being modern and up-to-date<\/span><\/li>\n<li><strong>Connect<\/strong> your systems and keep internal operations speedy<\/li>\n<\/ul>\n\n<p><img decoding=\"async\" class=\"aligncenter wp-image-6597\" title=\"restaurant pos systems\" src=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/06\/iStock-647355834-1-300x188.jpg\" alt=\"restaurant pos systems\" width=\"750\" height=\"470\" srcset=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/06\/iStock-647355834-1-300x188.jpg 300w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/06\/iStock-647355834-1-768x482.jpg 768w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/06\/iStock-647355834-1-1200x753.jpg 1200w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/06\/iStock-647355834-1-430x270.jpg 430w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/06\/iStock-647355834-1.jpg 1024w\" sizes=\"(max-width: 750px) 100vw, 750px\" \/><\/p>\n\n<h3><span style=\"font-weight: 400;\">4. Creating a mobile App to improve customer engagement<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Mobile applications for smartphones have got to be one of the best ways to incorporate restaurant software into your business practices. More than one-third of the world\u2019s population uses smartphones &#8211; that\u2019s more than <\/span><a href=\"https:\/\/www.statista.com\/statistics\/330695\/number-of-smartphone-users-worldwide\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">2 billion<\/span><\/a><span style=\"font-weight: 400;\"> hungry mouths! Additionally, there are more than <\/span><a href=\"https:\/\/www.statista.com\/topics\/1002\/mobile-app-usage\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">180 billion<\/span><\/a><span style=\"font-weight: 400;\"> mobile app downloads to date, and that number continues to grow. Clearly, people like their smartphones and they like using apps (the average smartphone user uses nearly <\/span><a href=\"https:\/\/www.appannie.com\/en\/insights\/market-data\/apps-used-2017\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">40 apps<\/span><\/a><span style=\"font-weight: 400;\"> every month).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">How does that relate to using technology in the restaurant industry? For one thing, <\/span><a href=\"https:\/\/foodtechconnect.com\/wp-content\/uploads\/2014\/05\/Think-Mobile-First-infographic.png\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">40% of 18 to 34-year-olds<\/span><\/a><span style=\"font-weight: 400;\"> prefer to pay for their restaurant orders via their mobile phone. And with the number of restaurants that have a mobile app at just 16%, there\u2019s plenty of room for you to make good use of this type of restaurant technology.<\/span><\/p>\n<p><b>How you can use a mobile app for your restaurant:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Gain awareness<\/b><span style=\"font-weight: 400;\"> by using location services to alert potential customers when they\u2019re near your restaurant<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Offer loyalty programs<\/b><span style=\"font-weight: 400;\"> that give customers special deals on holidays or rewards for frequent visitors<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Optimize the online ordering process<\/b><span style=\"font-weight: 400;\"> by allowing customers to submit their requests anywhere and anytime<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Provide customers<\/b><span style=\"font-weight: 400;\"> with the ability to make remote reservations<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Synchronize<\/b><span style=\"font-weight: 400;\"> with social media accounts (more on that below)<\/span><\/li>\n<\/ul>\n\n<h3><span style=\"font-weight: 400;\">5. Using social media to communicate with customers<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The world of social media has totally reshaped the way that businesses communicate with their customers. By this time it may not be considered a \u2018new\u2019 form of technology, but nonetheless, there are particular advantages that social media presents for <\/span><a href=\"https:\/\/www.become.co\/blog\/how-to-compete-with-big-brands\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">small businesses in competition<\/span><\/a><span style=\"font-weight: 400;\"> with their big corporate counterparts. Besides providing the ability to develop a modern <\/span><a href=\"https:\/\/www.become.co\/blog\/social-media-marketing-for-small-business\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">social media marketing<\/span><\/a><span style=\"font-weight: 400;\"> strategy for businesses, social media has a number of other impacts on the restaurant industry.<\/span><\/p>\n<p><b>Top ways that social media impacts the restaurant industry:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Puts a \u2018face\u2019 to the name<\/b><span style=\"font-weight: 400;\"> and allows restaurant owners to develop the business\u2019s \u2018personality\u2019<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Makes advertising affordable<\/b><span style=\"font-weight: 400;\"> for small businesses<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Provides an open line of communication<\/b><span style=\"font-weight: 400;\"> for customers to communicate directly with the restaurant<\/span><\/li>\n<\/ul>\n\n<h3><span style=\"font-weight: 400;\">6. Installing IoT software to enhance equipment safety and performance<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Big data and the Internet of Things are two terms that are echoing throughout many different industries, including <\/span><a href=\"https:\/\/www.become.co\/blog\/5-challenges-us-trucking-industry\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">trucking<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.become.co\/blog\/starting-construction-company-2019\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">construction<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.become.co\/blog\/manufacturing-trends-2019\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">manufacturing<\/span><\/a><span style=\"font-weight: 400;\">, and more. As with so many industries, when it comes to technology in restaurants, the machines that make the biggest difference aren\u2019t digital. The most fundamental pieces of <\/span><a href=\"https:\/\/www.become.co\/blog\/equipment-loan-vs-equipment-lease\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">restaurant equipment<\/span><\/a><span style=\"font-weight: 400;\"> are bulky items, such as walk-in refrigerators, deep-freezers, flat grills, deep-fryers, ovens, industrial mixers, and so on. But, restaurant software still can make a big difference in keeping those crucial components in working order.<\/span><\/p>\n<p><b>By using simple and easy-to-install IoT sensors to kitchen equipment, restaurants can use the data that\u2019s collected to:<\/b><\/p>\n<ul>\n<li><strong>Measure<\/strong> <span style=\"font-weight: 400;\">temperature in a refrigerator or heating station<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><b>Maintain <\/b><span style=\"font-weight: 400;\">proper equipment performance by making small fixes before bigger repairs are needed<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Monitor<\/b><span style=\"font-weight: 400;\"> whether equipment is meeting regulatory standards<\/span><\/li>\n<\/ul>\n\n<h2><span style=\"font-weight: 400;\">How to finance new restaurant technology<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Regarding the cost of keeping up with restaurant technology trends, not every type of restaurant software or restaurant technology will be easily affordable. Fortunately, there are options for restaurant owners to pick from if and when they\u2019re in need of a financial boost.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">Of course, the type of business will affect the kind of <\/span><a href=\"http:\/\/www.become.co\/loans-by-industry\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">industry loans<\/span><\/a><span style=\"font-weight: 400;\"> a business needs, as well as the specific circumstances that business finds itself in. Be sure to weigh your options carefully in order to choose the right funding solution for your business.<\/span><\/p>\n<p><a href=\"http:\/\/www.become.co\/apply\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Become<\/span><\/a><span style=\"font-weight: 400;\"> uses advanced algorithms to simplify the application process and improve the approval odds for businesses applying for financing. Additionally, the patented LendingScore\u2122 technology assesses a business\u2019s financial profile and then provides tailored guidance on which specific funding factors are keeping a business from accessing more and better funding options.<\/span><\/p>\n<\/blockquote>\n\n<p><a href=\"https:\/\/www.become.co\/loans-by-industry\/restaurant-loans\/\" target=\"_blank\" rel=\"noopener noreferrer\"><b>Restaurant loans<\/b><\/a><b> to help finance new technology:<\/b><\/p>\n\n<h3><span style=\"font-weight: 400;\">Unsecured business loan<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">For business owners that have relatively higher credit scores, unsecured small business loans offer some of the best terms available. The \u2018unsecured\u2019 part of \u2018<\/span><a href=\"https:\/\/www.become.co\/unsecured-business-loans\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">unsecured business loans<\/span><\/a><span style=\"font-weight: 400;\">\u2019 means there\u2019s no need to provide valuable assets as collateral. That means the loan provider takes on a bigger risk than the restaurant. It also means that purchasing restaurant technology doesn\u2019t require putting existing assets in jeopardy of being repossessed.<\/span><\/p>\n<p><b>Qualifications &amp; Features<\/b><\/p>\n<ul>\n<li><strong>Minimum time in business:<\/strong> <span style=\"font-weight: 400;\">6 months<\/span><\/li>\n<\/ul>\n<ul>\n<li><strong>Minimum monthly revenue:<\/strong> <span style=\"font-weight: 400;\">$5,000<\/span><\/li>\n<\/ul>\n<ul>\n<li><strong>Minimum credit score:<\/strong> <span style=\"font-weight: 400;\">350 (FICO)<\/span><\/li>\n<\/ul>\n\n<h3><span style=\"font-weight: 400;\">Line of credit<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While a <\/span><a href=\"https:\/\/www.become.co\/business-line-of-credit\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">business line of credit<\/span><\/a><span style=\"font-weight: 400;\"> is typically recommended as a backup form of business financing, it can also be used for purchasing technology in the restaurant industry. The most important part of using a business line of credit is to do so responsibly and not to get confused between <\/span><a href=\"https:\/\/www.become.co\/blog\/good-debt-versus-bad-debt\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">good debt and bad debt<\/span><\/a><span style=\"font-weight: 400;\">. Business lines of credit are flexible, allowing restaurant owners to use them for restaurant software or restaurant technology that falls under the hardware category.<\/span><\/p>\n<p><b>Qualifications &amp; Features<\/b><\/p>\n<ul>\n<li><strong>Minimum time in business:<\/strong> <span style=\"font-weight: 400;\">3 months<\/span><\/li>\n<\/ul>\n<ul>\n<li><strong>Minimum monthly revenue:<\/strong> <span style=\"font-weight: 400;\">$5,000<\/span><\/li>\n<\/ul>\n<ul>\n<li><strong>Minimum credit score:<\/strong> <span style=\"font-weight: 400;\">300 (FICO)<\/span><\/li>\n<\/ul>\n\n<h3><span style=\"font-weight: 400;\">Equipment financing<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Not every type of restaurant technology falls under the category of \u2018restaurant software\u2019 &#8211; some of it comes in physical form as well. For those pieces of hardware, restaurant equipment financing is one of the most common ways that business owners are able to cover the costs of technology used in restaurant business. And thanks to the way that fintech has <\/span><a href=\"https:\/\/www.become.co\/blog\/fintech-lending\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">revolutionized the business lending process<\/span><\/a><span style=\"font-weight: 400;\">, it\u2019s easier than ever to get matched with the right lender.<\/span><\/p>\n<p><b>Qualifications &amp; Features<\/b><\/p>\n<ul>\n<li><strong>Minimum time in business<\/strong>: <span style=\"font-weight: 400;\">3 months<\/span><\/li>\n<\/ul>\n<ul>\n<li><strong>Minimum monthly revenue:<\/strong> <span style=\"font-weight: 400;\">$5,000<\/span><\/li>\n<\/ul>\n<ul>\n<li><strong>Minimum credit score:<\/strong> <span style=\"font-weight: 400;\">450 (FICO)<\/span><\/li>\n<\/ul>\n\n<h2><span style=\"font-weight: 400;\">Final course<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">At the current pace of technological innovation, the restaurant technology trends listed here may be spoiled within a few months\u2019 time. So, be sure to check for new ways that technology is used in the restaurant business on a regular basis. Ultimately, the goal of using technology in a restaurant is to improve the way the business operates in an effort to improve the business\u2019s profitability. Hopefully, the information provided here helps to make that a reality for your restaurant! Please feel free to share this article on social media and with any of your fellow restaurateurs.<\/span><\/p>\n\n<p><a href=\"https:\/\/www.become.co\/loans-by-industry\/restaurant-loans\/?k=blogbanner\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" class=\"aligncenter wp-image-10492 size-full\" src=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/06\/Restaurants-1.png\" alt=\"Restaurant Technology Trends\" width=\"1200\" height=\"400\" srcset=\"https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/06\/Restaurants-1.png 1200w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/06\/Restaurants-1-300x100.png 300w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/06\/Restaurants-1-768x256.png 768w, https:\/\/www.become.co\/blog\/wp-content\/uploads\/2019\/06\/Restaurants-1-604x201.png 604w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><\/p>\n\n\n\n<p><!-- \/wp:post-content --><br \/><!-- \/wp:tadv\/classic-paragraph --><\/p>","protected":false},"excerpt":{"rendered":"<p>We\u2019ve still got a way to go before restaurant technology reaches the point where meals are 3D printed to order (imagine that!), but that doesn\u2019t mean the technology used in the restaurant business today isn\u2019t already changing the industry. Indeed, restaurant technology trends are sweeping the country from coast-to-coast and revolutionizing the restaurant experience for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6598,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,114,1,12],"tags":[258],"class_list":["post-6586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aus-resources","category-small-business-wisdom","category-uncategorized","category-us-resources","tag-hospitality"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>6 New Restaurant Technology Trends for 2021 - Business Funding Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.become.co\/blog\/new-restaurant-technology-trends\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"6 New Restaurant Technology Trends for 2021 - Business Funding Blog\" \/>\n<meta property=\"og:description\" content=\"We\u2019ve still got a way to go before restaurant technology reaches the point where meals are 3D printed to order (imagine that!), but that doesn\u2019t mean the technology used in the restaurant business today isn\u2019t already changing the industry. 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