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Beverage technology is vital for seamless operations in the hospitality industry. From tracking wine sales to the cost of goods sold, it’s safe to say that bar and restaurant technology can completely enhance the way your company does business. So, if you’d like to learn all about the top beverage technology features, continue reading the rest of this article!
What Is Beverage Technology?
Beverage technology comprises hardware, software, and app integrations that allow bar and restaurant industry professionals to be more efficient. Well, that’s when it comes to their business’ beverage program, of course! In many cases, such products have one goal in common: to allow staff members to do more with less, saving time and money in the long run.
For instance, beverage industry technology is often used for tracking inventory with ease, or putting each reorder point on autopilot. Meanwhile, the workers who would be handling such tasks if technology wasn’t in the picture can be tackling other responsibilities. Therefore, onboarding the right beverage technology solutions can help reduce labor and related costs, while ensuring accuracy simultaneously.
5 Best Food and Beverage Technology Features
Most food and beverage technology features can reshape a business for the better. But which ones should be on your radar? Read on and let us introduce you to the top five beverage technology solutions that you need to leverage right now:
1. Beverage Inventory Management
Tracking alcoholic and non-alcoholic beverages in real-time can be quite a challenge. Fortunately, beverage technology systems can enable businesses to prevent overstocking or stockouts. Meanwhile, it can also assist in reordering inventory and optimizing waste management efforts. Just imagine how much money you can save by identifying slow-moving or expired items!
2. Order Management
One of the most convenient aspects of beverage technology is how it can connect your ordering system with product-focused databases. In other words, ordering and fulfilling wholesale beverage orders can be significantly more straightforward than if you had to manually purchase products from multiple suppliers. As a result, businesses can price shop, get exactly what they need, automate future orders, coordinate delivery timelines, and reduce human errors.
3. Wine List Integrations
Did you know that wine has the potential to generate higher profits than any other beverage? That’s right–by building a curated wine list and keeping a robust inventory, you’ll be able to maximize revenue. Even if you also offer wine by the glass, the markup on wine can make this option quite lucrative.
4. Cost Control
There are many different costs associated with beverage programs. Once you onboard beverage technology solutions, you’ll find that it’s much easier to monitor how much each drink costs vs. the amount of revenue it’s generating for your business. From there, you can thoughtfully build menus and offer drink specials that you know will be profitable.
5. POS System Integrations
One of the many reasons to onboard beverage technology is to keep better track of what you have available. By syncing your beverage technology solution with your POS system, ingredient quantities can be automatically deducted from your standing inventory. No mental math. No inaccurate inventory counts. Just instant calculations and a bird’s eye view of what you have vs. what you need to reorder.
Frequently Asked Questions About Beverage Technology
It’s important to thoroughly research beverage technology providers before onboarding a solution. For one, beverage industry technology software is typically a long-term investment. Plus, it functions as a subscription service more often than not, so there may be a clause within your contract that determines your use of the software for a set period. Regardless of the situation, it’s always a good idea to give new software solutions time to fully generate the results they can generate for your business. Now, if you’d like to prepare yourself even further and gain more insight into the world of beverage technology, check out the FAQ section below!
What Is the Best Beverage Technology Company?
BinWise is the best beverage technology company due to its specialized, industry-leading solutions that streamline inventory-related operations for bars, restaurants, and distributors. With real-time intuitive analytics reporting, waste management tools, and beverage tracking insights, businesses that use BinWise can enhance operational efficiency. Want to learn more about this innovative platform? If so, book a demo with us today!
What Are the Best Beverage Technology Features?
The best beverage technology features include the following solutions:
- Inventory Management
- Order Management
- Wine List Integrations
- Cost Control
- POS Integrations
Is Beverage Technology Expensive?
Beverage technology doesn’t always have to be expensive in the long run. Sure, smaller businesses will find beverage industry technology to be expensive at first, but only in the beginning. That’s because over time, beverage technology helps food service establishments save money. Plus, regardless of which tech provider you choose, you’ll also incur a setup fee. But after just a few months, you’ll find that the cost savings and enhanced efficiency that come from the initial investment will end up paying for itself.
What Is a Beverage Technologist?
A beverage technologist is someone who develops, tweaks, and manages the quality control of software that manages beverage inventory. Not only do beverage technologists create products for wine, beer, and spirits, but they also develop solutions for tracking non-alcoholic beverages as well.
How Is AI Used In the Beverage Industry?
AI is used in the beverage industry to simplify common practices pertaining to an establishment’s beverage program. More specifically, it can help track drink sales, estimate par levels, develop costing strategies, and so much more.