Serve Better And Make Better Business Decisions With Lightspeed Restaurant
Lightspeed powers top restaurants around the world, increasing revenue, reducing costs and using industry-leading insights to make data-based decisions. According to Lightspeed 2022 State of Hospitality Industry Report, 75% of hotel businesses in Canada adopted new technology to streamline employee shifts and automate tasks in 2022, its no wonder the newest release of their flagship Lightspeed Restaurant offering, has seen so much success – as the company continues to build on this innovative offering to deliver best-in-class technology that primarily benefits sophisticated foodservice merchants.
This from Peter Dougherty, General Manager, Hospitality at Lightspeed, who added that, “We (Lightspeed) went from selling and supporting multiple distinct competing products to focusing on one flagship product for restaurants around the world (and separately, as we did this for retail as well). This means restaurants have access to the power of payments solutions, POS, advanced insights, bookkeeping, and more under one flagship product.
Turning data into knowledge is an integral part of making better business decisions. Lightspeed Advanced Insights is a key tool merchants on Lightspeed Restaurant can utilize to turn data into actionable insights.
For example, this allows businesses to:
- Create unique guest profiles for everyone who pays with a credit card
- Track how often customers are coming back, how much they spend and which menu items they order most
- Get a detailed breakdown of their menu’s performance so they can feature their best dishes more prominently and knix dishes that aren’t driving revenue or return customers
“Magic Menu Quadrant”
Built within Lightspeed Advanced Insights is the “Magic Menu Quadrant” which adds significant value for restaurants. This helps them organize their items into four categories to give them a comprehensive insight into an item’s performance over the last 12 months:
Hidden Gems (Low popularity – high retention rate: items ordered less but keeps those who order coming back for the same dish – tells restaurants they may need to highlight this dish more!)
Greatest Hits (High popularity – high retention rate: Customers frequently order these items and return for more)
Underperformers (Low popularity – low retention rate: These items are not popular with your customers. When they do sell, customers don’t return for more. These are items you might want to improve or remove from your menu altogether)
One Hit Wonders (High popularity – low retention rate: Guests often order this item, but they don’t return after ordering it. This metric might indicate that an item seems appealing on the menu but needs improvement in its execution)
Lastly, the new suite allows Managers to keep a finger on the pulse of restaurant operations, even when they’re not there, by automating and connecting restaurant staff together across shifts with a virtual logbook
When asked what technology improved business the most this year, 12% of industry respondents said they adopted new technology to streamline shifts (new POS or management software), which is an increase of 7% compared to 2021.(Lightspeed 2022 State of Hospitality Industry Report)
Lightspeed is 40% faster than other leading POS systems—meaning fewer steps for your staff to learn and faster service.
Configure your screens, menu, floor plans, inventory management; Connect your FOH and BOH with simplified ordering, integrations and KDS and Manage multiple revenue centers and locations from one touchpoint, including PMS integration for hotels and again, make better decisions with insights on your menu, customers and staff performance.
Get Connected & Make Better Decisions
Interested in finding out what Lightspeed can do for your food service operation, speak to an expert to tailor the right system to your needs – from food trucks and festival stalls to food trucks, QSRs and fine dining, there is a version of lightspeed that can work for your business.