With this partnership, diner booking data from OpenTable’s restaurant technology can be combined with spending data captured by Shift4’s SkyTab point-of-sale (POS) system, the companies said in a Wednesday (May 24) press release.
“Our collaboration with OpenTable provides restauranteurs an easy way to improve their top and bottom lines while learning more about their customers so that they can enhance the dining experience,” Shift4 Chief Technology Officer Mike Russo said in the release.
When the data from the two companies’ technologies are combined, restaurant operators can get a more holistic view of their business and identify opportunities to increase revenues and reduce costs, according to the press release.
For example, they can improve their wait times and table turnover rates by using real-time information about when guests are seated and which course they are on, the release said.
They can also identify customers who are new, regulars or top spenders, per the release.
“This partnership will provide our restaurant customers with a more comprehensive business view, enabling them to make smarter business decisions,” OpenTable Chief Growth Officer Susan Lee said in the release.
PYMNTS research has found that restaurants are looking to step up their digital capabilities in an effort to boost efficiency and minimize labor needs.
Seventy-five percent of restaurant operators plan to adopt technology this year to address their labor and cost challenges, according to data cited in “Inflation Makes Technology Table Stakes for Restaurants,” the March edition of the “Money Mobility Tracker®,” a PYMNTS and Ingo Money collaboration.
The data covered in the report also showed that nine in 10 restaurant owners view increased automation of back-of-house operations as a way to free up time to focus on more important tasks.
In another example of how data is used in the restaurant industry, Toast, a provider of a cloud-based restaurant POS system, reported on May 9 that small independent restaurants use tech to gain more visibility into pricing, while larger chains seek the ability to easily access data insights across locations.
Restaurants are also looking for data about their customers’ habits to help increase engagement and entice them to return.
Eateries have been asking for “access to that data and then the tools to activate it,” Grubhub Vice President, Restaurant Services and Innovation Kate Green told PYMNTS in an interview posted in February.