Science & Technology

Foodpanda Partners TabSquare for AI-Powered Restaurant Solutions

Restaurant owners in Singapore, Taiwan, Malaysia, and the Philippines will be the first to enjoy the benefits of AI-enabled predictive analytics and QR code ordering

Foodpanda Partners TabSquare for AI-Powered Restaurant Solutions

TabSquare, a provider of Artificial Intelligence (AI)-powered in-restaurant solutions, and one of Asia’s largest food and grocery delivery networks – foodpanda – are jointly introducing new digital solutions for restaurants. These include QR code-based ordering and AI-enabled predictive analytics.

With the new partnership, foodpanda’s 500,000 restaurant partners will be able to automate tedious tasks while customers will get a seamless digital ordering and dining experience.

The two companies believe digital menus will be more common in the future, ultimately substituting paper analogues. Digitized menu versions will enable clients to browse items, order and pay at their own pace and with enhanced convenience. The solution aims to tackle order delays and inaccurate placements.

The second part of the offering – AI analytics – gives restaurants a competitive edge in customer engagement and retention. Using loads of combined data from customers’ purchasing history, the tool provides actionable insights. Once the trends in price sensitivity, volume, and menu preferences are identified, they can be applied in various cases.

For instance, restaurants can personalize their promotion offers, improve the team’s time management, optimize internal processes, better understand the target audience and adjust the menu to customer tastes.

Moreover, TabSquare claims that its proprietary solutions can boost the restaurant’s profits. Allegedly, its partner restaurants can “see up to 10% higher bill sizes, up to 50% reduction in staff costs and better customer satisfaction”.

In addition, restaurants on foodpanda platform typically see an average 10% uplift in business performance. TabSquare clients can now promote themselves to foodpanda’s large customer base and collect payments more efficiently across multiple  payment methods.

AI analytics is only one example of how technology is disrupting the restaurant industry.

Nina Bobro

1471 Posts 0 Comments

https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.