At It’s Lolly our mission is to take state of the art technology and make it accessible and productive for the hospitality space.
Here, Peter Moore (CEO), offers his thoughts on hospitality technology today, and the year ahead.
“No one could ever have imagined that 2020 would have turned out the way it did. The pandemic has transformed the way we work and made us rethink our world,” he comments.
“Covid-19 has forced the hospitality sector to adopt technology at a faster rate. Cash has been quickly taken out of the equation in so many scenarios. Businesses and individuals are finding themselves faced with having technology platforms embedded in every part of their lives, from work meetings on zoom, to track and trace apps when out shopping and dining, to mobile pre-order and food delivery. Admittedly, some users will go back to more traditional methods once the virus passes, but rapid technology adoption has meant that we have moved closer to a digital world.”
The power of pre-order
“As a direct result of the Coronavirus pandemic, I believe that food delivery as well as order and collect will continue to grow at an exponential rate. Platforms that integrate seamlessly with stock management and payments systems in a business are the future in this sector. I wouldn’t even be surprised to see pre-order within a fine dining context; something I would never have seen myself saying this time last year,” adds Moore.
“There are benefits to this growth in acceptance, not just in supporting hospitality businesses getting through the crisis. It has also opened up opportunities and access to new customers for many cafés, restaurants, pubs and other food/drink vendors who will continue to patronise their services and locations as the UK emerges from the impact of Covid-19.”
“In response to the increase in digital adoption, and as applications and payments become more integrated, companies like Lolly have needed to place real focus on virtual security. There is a real emphasis on developing systems and enhancing cybersecurity to create fully robust and resilient solutions so the customer can securely utilise all aspects of seamless technology, from ordering to payments, and loyalty.”
Moore also comments on the advent of 5G and the increased speed that this will bring with it. This will increase the availability of bandwidth hungry applications in mobile for both PoS and payments.
The digital suite
“As I have always stated, it is no longer about a single product offering. Hospitality providers today look for multiple products – from pre-order, to self-serve and loyalty, and it is now all about providing a seamless integration between these platforms to assist in the customer’s digital journey.”
He adds: “The less that the hospitality provider has to manage, the barriers to entry are removed. Instead they will focus on providers where partnerships have been forged, or where they can offer a seamless integration of numerous technologies to support a faster service and increased throughput.”
AI and beyond…
“AI and data analysis will revolutionise the customer experience by offering increased personalisation. These technologies will use algorithms to identify individual and group behaviours, thus profiling customers and learning from our ordering and payment patterns. The accelerated use of AI will see loyalty becoming almost subliminal, allowing businesses to easily offer personalised, targeted rewards and incentives to customers,” comments Moore.
Concluding, he adds: “In the wake of Covid-19 our industry continues to struggle and we all remain uncertain about what lies ahead.
“Together we must embrace technology in an efficient way and evolve to create a positive, sustainable, safe and exciting hospitality future. Times have changed, but we must adapt in order to thrive.”