Our second #enterthevolt biweekly Hospitality Newsletter brings some exciting stories over the last few weeks.
Focussing on the Hospitality tech news, we have Yum! Brands pledge to continue integrating AI where possible, Wendy’s new partnership hoping to provide excellent customer experiences and Instant Financial releasing an easier way for employees to receive their well earned pay.
AI 🤖Security 📹 AR 🤝VR 👓Payment Assistance 💰RFID
Yum! Brands Looking To Lead The AI Charge
AI again is in the forefront with Yumbrands and Joe Park, Chief digital and technology officer, looking to continue implementing throughout their restaurants. Looking at the cost of labour and workforces they are looking to compliment it with technology.
Yum! Brands (the parent company of Taco Bell, Pizza Hut, KFC, and Habit Burger Grill) saw a massive increase in digital sales accounting for up 45% of total sales. This has doubled since 2019 showing a huge increase. The pandemic helped push this number along however the trend seems to continue heading in the same direction.
AI is seen as a driving force for allowing restaurants to seamlessly integrate the customer experience into these digital sales. Having already implemented their “SuperApp” into existing stores, which describes as:
“Your go-to productivity tool for managers, simplifying tasks with user-friendly tools for an easier work life.” – Google play store page
Joe Park is continuing to look for ways to revolutionise the industry and be a driving force in it. Whilst currently investigating ways to use AI in drive-through service order taking with an AI voice or image recognition, they aim to enhance their customers’ experience every step of the way.
They are also looking into ways to improve their kitchens too. Finding ways to optimise cooking processes and determine peak times. This would prove hugely beneficial in reducing wait times for customers along with reducing waste and of course maximising profits.
With more stringent privacy legislation being talked about and the controversy TikTok is currently going through first hand customer data is becoming more important than ever. Yum! Brands are aiming to use their company apps to help tailor their advertisements and collect their own first hand data.
This could prove pivotal as third party data securing sites may struggle more and more to provide their data. Yum brands bringing their data first hand will help them keep up with the market. AI is demonstrating increasingly well its role in the hospitality sector.
Read the full interview here: https://www.wsj.com/articles/taco-bell-and-pizza-hut-are-going-ai-first-yums-new-tech-chief-says-2f423d5e
Wendy’s Chooses Partech
Similarly to Yum! Brands Wendys notices the benefit to having a successful, robust loyalty program. Having released their program in July, 2020 they look to continue improving on it.
Partnering with Partech, they aim to boost customer engagement even further. Partech Customer Loyalty & Engagement Software, PAR Punchh looks to be the catalyst in their journey. Claiming to be
“The industry leading customer loyalty and engagement platform for personalised offers, rewards, and campaign management.”
From their website their platform aims to:
- Engages guests and build loyalty with seamless in-store, online, curbside, and in-app experiences
- Increases return visits and per-visit value
- “Build brands and delight fans”
Wendys is planning to incorporate Partech’s platform into their already operational app using the open architecture leading to seamless integration.
With the industry showing a significant trend in the benefit of customer loyalty it is no wonder Wendys along with many others are looking into ways to provide the best customer experience they can.
CEO of @partech said: “Loyalty is not a feature, it’s an outcome – driving more customer lifetime value. We believe that coupling our technology with our skilled team of loyalty strategists not only gives brands the tools to build guest loyalty, but also puts us in the driver seat with them to deliver results,”
This partnership hopes to continue providing a quality experience to customers which is becoming ever more important in today’s hospitality industry.
Instant Financial Looks To Provide Employees Their Well Earned Pay
With an increase of 25% of working Americans worrying weekly about making money last until their next pay day (29% in 2018 – 54% in 2024) Instant Financial are looking into ways to aid the employee.
Releasing their new app on March 19, 2024 they are aiming to give a hassle and cost free medium to employees
After testing their Beta back in October they have released their full version. The Instant mobile app with enhanced mobile wallet functionality, provides employees with a faster, more secure app experience that gives them a greater degree of flexibility in how they receive their pay. Using their inhouse 2022 case study they found “over 50% of Americans would likely avoid major financial pitfalls if they could instantly access a portion of their pay after every day’s work”
The main features of the app include:
- Faster Access to Earned Wages: Employees have access to their hard-earned wages in fewer steps, with an improved user interface (UI) and key elements surfaced more prominently within the app.
- Modern Security Features: State-of-the-art security protocols, such as facial and fingerprint biometrics, multi-factor authentication, and encryption technologies protect user information and provide peace of mind.
- Flexible Payment Options: Users have the freedom to choose how and when they access their wages. Whether it’s through direct deposit, the Instant card, or a mobile wallet, the new app offers a greater degree of flexibility for all employees, ensuring convenience for all.
- Clear and Informative Design: With improvements to the user interface (UI), the app offers a user-friendly experience, empowering users to make informed choices and navigate the app confidently.
- New Technology Framework: Underpinned by a new technology infrastructure, the new Instant mobile app is faster, more responsive, and built to allow for additional features and functionality to meet the needs of employees and how they are paid.
“Employee demands regarding how they access their wages are constantly shifting, and our new app is meeting that head-on,” said Tal Clark, CEO of Instant Financial. “Whether it’s to cover unexpected expenses, avoid predatory loans, or simply to enjoy more control over their finances, Instant is continually revolutionizing the way people get paid.”
The app itself has aided employers by seeing a 27% reduction in turnover, a 30% increase in job applicants and a 25% reduction in absenteeism. Providing a quality experience for employees as well as customers is becoming more and more in the forefront as customers’ views on a company’s culture and beliefs are affecting shopping habits.
Press release: https://www.instant.co/pressrelease/instant-financial-announces-new-instant-mobile-app/