19 Jun 2019 | Blog
June 30 is fast approaching, and thus, it is that time of year again to analyse the books and face reality on what is actually working for your business and what is not. We’ve observed restaurants continually get hit with seemingly endless fees—from staffing costs and supplier costs, to food-tech subscriptions or commission fees, POS system subscriptions, table booking technology, banking merchant fees and the list goes on and on. With all of this adding up, it can be very hard to make a profit.
But what we’ve been hearing from our industry partners is that some of these technology solutions may be eating into your bottom line more than meets the eye. We’ll bet you’ve had countless tech-companies approach you with the latest app that will magically bring you more customers, when in reality, they are simply taking your existing customers and directing them to a digital solution. Of course this is the way the industry is moving and customers are demanding the convenience, but isn’t it time you explored an option that doesn’t cost you? Particularly if you aren’t actually recruiting any new customers?
The good news is, the End of the Financial Year is the right time to reassess the business and look at ways you can reduce costs, without affecting your operations. There are options that will serve your customers in exactly the same way, but won’t cost you. TableTime – the customer-driven mobile payments technology can actually reduce overheads for your business significantly, by absorbing all banking merchant fees you would ordinarily pay through an eftpos facility or a payments application. Here are just a few of the financial benefits to using a mobile ordering platform like TableTime.
Customer convenience at no cost
There’s no denying that customers are demanding convenient solutions to order and pay for their food. While there are a multitude of food delivery and pre-order technologies on offer, TableTime offers a solution that doesn’t cost the vendor. TableTime is a customer driven-solution, wherein patrons can search for food, order and pay all from their mobile device. And because we aim to centre our service to the needs of our customers, we believe the customer should be the one to pay a small fee for convenience, not you the vendor.
Reduce or remove merchant fees
Not only does is the platform free to vendors, TableTime also allows you to reduce costs through the Marketplace model. Our marketplace platform allows us to absorb all merchant fees, so with every TableTime transaction, you don’t have to worry about a surprise fee being added. The more you drive your customers to make payment through the app, the more you reduce your merchant fees and put more dollars straight back to your bottom line.
Potential to reduce staff in quiet periods
We understand one of the biggest costs for a restaurant owner is staff and not only that, managing when to put staff on duty not knowing how busy the restaurant is going to be. The beauty of TableTime is that it allows you to analyse your busiest and quietest periods so that you can reduce your front of house staff during those quieter periods. Because the ordering is automated, the kitchen staff can be the ones to accept the orders during those slower times. By removing the need to manually enter orders, you also remove the need for additional staff during those manageable times.
Apart from improving customer experience and reducing overheads, there are several other benefits to using TableTime for your business. To find out more about our mobile payments service, visit us at TableTime.com.au today.