Restaurant Management Software Market Size, Share, & Trends Analysis Report By Software (Front-end Software, Purchasing & Inventory Management, Accounting & Cash Flow), By Deployment, By End Use, By Region, And Segment Forecasts, 2022 - 2030
Restaurant Management Software Market Growth & Trends
The global restaurant management software market size is expected to reach USD 14.70 billion by 2030, expanding at a CAGR of 15.8% from 2022 to 2030, according to a recent study by Grand View Research, Inc. The disruption of the restaurant industry due to the outbreak of COVID-19 and the soaring need for restaurant-specific software such as billing and payment processing, and inventory management have triggered the need for restaurant management software. Several large restaurants prefer combined solutions, from Point of Sale (POS) solutions to custom Enterprise Resource Planning (ERP). These systems are advanced solutions that provide necessary tools to perform restaurant operations and offer analysis for data crunching. Thus, the rise in the number of these solutions in major cities across the world is favoring the adoption of restaurant management software.
The adoption of POS solutions gives restaurateurs an opportunity to streamline their business operations and boost product demand. These solutions improve efficiency by reducing billing time, monitoring the order completion time, and avoiding order errors during peak hours. For instance, in November 2021, Revel Systems implemented its POS solution, Revel Enterprise, in Lou Malnati’s Pizzeria in Chicago. This solution allowed Lou Malnati’s Pizzeria to integrate several best-of-breed technologies such as e-commerce and payroll systems to achieve broader functionality. Additionally, with the help of this solution, new employees were able to be trained in minutes and are given easy access to reports, which is extremely important in a tight labor market. The adoption of these POS systems is boosting the demand for restaurant management software over the forecasted period.
The increasing use of credit and debit cards for restaurant payments has generated a need for strict regulation to meet data security compliance for the restaurant POS systems. This has helped secure sensitive business information from staff and extended control to the management to avoid a data breach. With these solutions, the service staff are able to deliver an improved customer experience with mobile and table-side solutions through tabletop and devices such as tablets, iPods, tabletop kiosks, and table-side payments. These software solutions help restaurant owners and managers to deliver enhanced customer experience, analyze their costs, and increase their profit.
Restaurant Management Software Market Report Highlights
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