The tech innovations helping hospitality run smoothly

Every industry is being overhauled by technology innovations that simplify and optimise operations — and hospitality is no exception.

As one of the most people-centric industries in the world, there is much to keep on top of. From automated division of tips, earned wage access, and wholesale online ordering to hospitality business tips, payment solutions, and cyber security education, technology innovators are helping each part of the industry run more effectively and efficiently.

As they say, you can’t stop progress. Hospitality shares a selection of the industry’s leading technology solutions, including:

Automating the division of tips with Tip Sheet
Gaining access to earned wages with Paytime
Online wholesale ordering with FoodByUs
An online business sidekick with Crunch
Latest payment solutions with Zeller
Educating cyber smarts with Cyber Wardens

Tipping

As the use of cash declines in the hospitality industry, tipping via EFTPOS has become more commonplace. Often, it can prove difficult to associate the tip with the person who is supposed to receive it. Manually dividing tips is also labour-intensive and is prone to human error.

To remedy the issue Australian company Tip Sheet developed a simple system to automate the division of tips. The program collects, calculates, and distributes every tipped dollar by integrating with POS systems, ensuring the distribution is fair and transparent.

Early wage access and financial wellbeing

The cost-of-living crisis is stretching the purse strings of hospitality staff across the country. When an unexpected cost arises, it can put unwarranted strain on staff – especially those who don’t want to deal with the risk of using a credit card.

Helping to improve employees’ financial literacy is a core element of the Paytime platform. It provides users with budgeting tools, automated savings plans, access to financial counsellors, and educational content on managing finances.

The tool also gives staff access to earned wages, meaning they can be paid immediately after finishing a shift, ultimately reducing financial stress and enhancing job satisfaction.

Transparent produce pricing and ordering

For consumers, the cost of goods is open and transparent, making it easy to decide where to purchase. In hospitality, the cost of goods isn’t often clear.

FoodByUs is Australia’s largest wholesale hospitality platform. Its new price tracking feature allows purchasers to access real-time pricing across 4,000 items and suppliers. The platform also allows users to see price history and trends from the last year, manage expenses, and set alerts for prices or spends to keep costs in check.

Practical business advice

Running a successful hospitality business is a balancing act between customer satisfaction and operational efficiency. It can be hard to find reliable information about starting or progressing a hospitality business when there is an abundance of advice out there, especially on social media.

Crunch is a community-focused platform aimed at connecting the industry to make it more collaborative and innovative. The platform is a home base for hospitality professionals who want to access trustworthy and tested business support. The AI-powered platform provides small, actionable advice, tailored to hospitality owners’ unique challenges and facilitates meaningful conversations between owners in a supportive environment.

Payment solutions

Choosing an EFTPOS terminal can become an afterthought among the long list of decisions that need to be made when running a hospitality business. While many still opt to go with the big banks, simply because it’s what they’ve always done, smaller financial start-ups are proving bigger isn’t always better.

Zeller Terminal offers affordable pricing, reliable connectivity, and quick settlements alongside platform features such as customisable receipts, surcharging, tipping prompts, split payments, and more. There are no monthly fee or lock-in contracts and transaction fees are low. The platform also allows terminals to be purchased rather than rented, saving business owners in the long run.

Cyber security

According to the Australian Signals Directorate, reports of cybercrime were up 23 per cent in 2022-2023, with one incident reported every six minutes on average. The research noted the cost of cybercrime is also up 14 per cent, and can potentially cost small businesses up to $46,000 per year.

Hospitality is not immune to cyber threats. In fact, earlier this year, a data breach affected Clubs NSW, which impacted up to 1 million New South Wales and ACT residents.

Such instances are creating a high demand for training and understanding around cyber threats. The Council of Small Business Organisations Australia provides a free resource called Cyber Wardens, which gives users practical training on how to avoid phishing scams, identify threats, and protect digital systems.