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Restaurant management software has become increasingly popular due to numerous new restaurant openings and existing chain expansion. Furthermore, dine-out habits have risen due to rising incomes and better living conditions. Various restaurants adopt advanced management tools to streamline restaurant operations to effectively manage their inventory. Also, the rise in personal disposable income, hectic lifestyles scheduled, and expanding global population have bolstered the demand for the product. As per Business Research Insights, the market for restaurant management software will reach USD 4,804.4 million by 2027.
Post COVID-19 Outlook: Limited Restaurant Operations Impact the Food Industry
The COVID-19 outbreak had a negative impact on several industries, including the food industry. Customers' worry about becoming infected with the virus from food prepared in restaurants has worsened the business situation. Several restaurants adopted advanced technologies after the pandemic to streamline their operations and prevent the virus spread. Also, the growing awareness of ready-to-eat and organic products has surged the demand for the product at a rapid pace, increasing the profitability.
Business Research Insights highlights the top 8 restaurant management software companies.
1. GoFrugal Technologies (New Delhi, India)
GoFrugal Technologies is an Indian company that was founded in 2004. The firm offers a mobile ERP solution that assists various restaurants and businesses with their workflow and gives them a chance to grow their business with minimal staff.
2. eZee Technosys (Surat, India)
eZee Technosys is an Indian firm that was established in 2005. The company is well known for developing and offering cloud-based and desktop-based hotel and restaurant management technology to improve the guest experience and supply chain at an affordable cost.
3. SevenRooms (New York, U.S.)
SevenRooms is an American firm that was founded in 2011. The company delivers digital technology solutions to various firms to enhance their operations. The guest management platform by the company helps to better serve, engage, and manage the clients in an effective way.
4. Flipdish (Dublin, Ireland)
Flipdish is a privately-held company headquartered in Ireland and founded in 2015. Using its app, Flipdish allows owners of various restaurants and clubs to accept orders digitally without any hustle. Despite this, the company also serves in the hospitality domain to manage the customer experience.
5. BIM POS (Al Abraj Street, Dubai)
BIM POS is a Dubai-based company that was founded in 2018. The company is a provider of a full spectrum of IT and ERP solutions for retail management and hospitality. Using cutting-edge technology, BIM POS also provides customer service tools to back-office management systems to boost the overall performance.
6. Yelp (California, U.S.)
Yelp is headquartered in California, U.S. and was established in 2004. It is widely recognized as the most successful review website for local companies. By participating on Yelp, one could enhance their business by reaching out to potential and existing clients.
7. Square (California, U.S.)
Square is headquartered in California, U.S. and was founded in 2009. The company offers merchants a range of services and tools that can facilitate the completion of sales transactions and the management of inventories and finances. Its efficient business tools help people start, run, and grow their businesses effectively.
8. Toast (Boston, U.S.)
Toast is headquartered in New Jersey, U.S. and was founded in 2011. The company uses the Android operating system that serves as the foundation for the restaurant management and point of sale system to meet the customers' changing needs.
Digital Strategies Fuel the Adoption of Restaurant Management Software to Facilitate Market Development
In recent years, due to advancement of digital technology, manufacturers have used various restaurant management software to sell their products online and expand their global footprints. To improve product quality, prominent companies invested heavily in management software to manage their daily inventory stocks, effectively meeting consumers' requirements. Furthermore, the growing popularity of gluten-free products, organic products, and the rising vegan population stimulate the product demand. Automatic team member scheduling, recipe management, and menu management by the restaurant management software are likely to propel the market growth.