Impact of Blockchain in Restaurant Management Software
Last updated on June 23rd, 2022 at 04:30 am
Blockchain technology which uses the digital ledger to save and transmit data without a third party has revolutionized the cash transaction sector. Now, slowly and steadily blockchain is being replicated to other areas. Continuous innovation and improvement in blockchain made it easy to find new applications in other areas.
Restaurant management is one sector that badly needs something like blockchain. Restaurant management software is generally used for managing even a small outlet since it involves a lot of material transactions in and out constantly. This complexity of transactions is further compounded with the addition of online food ordering and delivery. Not to mention the degree of online and offline money transaction that is happening in a restaurant.
To quicken the restaurant management process and protect valuable data, it is imperative to use some cutting edge technologies like blockchain. Already certain food app startups and restaurant chains have mandated using blockchain technology for several purposes.
Let us see how blockchain impacts the restaurant management system.
Impact of blockchain in restaurant management software
Food supply chain to restaurants
The food prepared in restaurants for dine-in and online delivery is made of different materials that come from varied places. Off late it has become literally impossible to track the quality of materials coming from these places. Because of this the food prepared is failing to meet certain standards which is a detriment to the restaurants.
With blockchain, it is now a matter a minutes before a restaurant admin shall know the details of the food supply chain.
This is how it works, all necessary details of the materials being purchased are sent to a decentralised data ledger; in the same way, the details are sent to the ledger at every point. This data cannot be modified by anyone else and the admin uses this data to assess the quality.
To automate the process further, the data in the ledger can be made to check with the standard input data.
Real-time authentication and matching
A delivery person who wants to associate with the restaurant’s online delivery system is restaurant Management Software mandated to give necessary documents. These documents are vital because anyone can register as a delivery agent. A face-to-face checking is impossible using a third-party is nor practical.
To correctly verify the documents and reject the forging of important papers, blockchain can be used. Blockchain eliminates the involvement of third-party and does real-time authentication and matching. Any kind of verification process is made quicker and efficient.
Secure payment
People are okay with everything about online food ordering and delivery, but they are a bit averse about digital transactions. They have every reason for this aversion because of cyber theft incidents.
Such transaction issues are no longer present when you have a blockchain smart contract.
In the blockchain-backed transaction, the payment data are not kept in a central authority. Instead, the transaction records are stored as chunks in ledgers that are secured against hacks. There is no way to indulge in breaching the security; even end-to-end encrypted transactions are prone to hacks.
Loyalty points using blockchain
Blockchain-powered loyalty platforms are present in the market. The restaurants can partner with such platforms to give blockchain-backed tokens. These tokens can be used to redeem during any purchase.
What is the need to use the blockchain concept for rewards and loyalty programs? Simply because they are efficient, fast, and secure. Generally, reward programs require a huge amount of data to be stored and blockchain helps to manage this efficiently.
Authentic rating and review
Reviews and ratings made by both the customer and delivery person during online delivery are required for restaurants and admin to make informed decisions. Sometimes in the case of an online restaurant marketplace, the restaurants manipulate the reviews. To avoid this, the blockchain-based ledgers can be used to hold reviews. Such data cannot be accessed independently by others. So the admin can consider all the reviews to be authentic.
Reducing wastage of food
Even after a lot of changes in the present restaurant system, wastage of food is still a serious issue that costs a ton for the restaurants. While the restaurant management system can be used to control the inventory and manage food preparation, one surely ends up with surplus food.
Records of customer buying patterns, food shelf life, inventory, weekend demands, and other valuable insights can be stored in blockchain digital ledgers. This can be utilized anytime to make informed decisions about food preparation and minimize wastage.
There are blockchain-based logistics solutions that can help track and offer surplus foods to nearby NGOs. There cannot be a more convincing way than offering surplus food to someone in need.
Final words!
Blockchain is an evolving technology and more functions will be added in the coming days. No other advances make the restaurant admin track the material from its source.
Apart from implementing blockchain applications, it is vital to select the right software developer who is well versed with restaurant management software and online delivery solutions; the reason is that integrating blockchain tech with restaurant management dashboard requires a specific skill set.
I hope you are convinced of what blockchain can do to a restaurant, be it online or dine-in. Also, this amazing tech costs surprisingly less than similar advances.
Author Bio:
I’m Krishna Charan, working as Business Head at Uplogic Technologies Pvt Ltd. Uplogic Technologies is a leading producer of mobile and web app development solutions in the market. Our primary focus is on developing android apps, iPhone/iPad apps, and cross-platform apps. Our top selling products are SpotnRides and SpotnEats.