S2E44 - Boosting Restaurant Efficiency and Restaurant Services Insights

About the Episode

In this conversation, Angelo Esposito interviews John Florinis, EVP Product at MealTicket, about his journey in the fintech and payments industry and the evolution of restaurant technology. They discuss the importance of POS, inventory management, and labor management in the restaurant tech stack. They also explore the challenges of implementing back-of-house solutions and the need for professional services to assist operators.

This episode touch on the potential future trends in restaurant technology, including tighter integration with accounting systems and the use of AI for efficiency gains. John emphasizes the goal of helping restaurants become more profitable and saving them time to focus on what they love. John Florinis discusses the importance of understanding the needs of food distributors and suppliers in the food service industry. He highlights the challenges of managing rebates and incentives for distributors and the role of technology in optimizing their businesses.

Florinis also emphasizes the need for organizational alignment and customer impact when prioritizing product features and enhancements. He shares insights on crisis management during the COVID-19 pandemic and the resiliency of the industry. Finally, he advises early-career professionals to stay open to new ideas, build a broad network, and understand the evolving needs of customers. ‍

Takeaways

• POS, inventory management, and labor management are crucial components of the restaurant tech stack.
• Implementing back-of-house solutions can be challenging, and professional services can provide assistance.
• Future trends in restaurant technology may include tighter integration with accounting systems and the use of AI for efficiency gains.
• The goal of restaurant technology is to help restaurants become more profitable and save time for operators. Understanding the needs of food distributors and suppliers is crucial in the food service industry.
• Managing rebates and incentives for distributors is a complex task that can be optimized with technology.
• Organizational alignment and customer impact should be considered when prioritizing product features and enhancements.
• Crisis management during the COVID-19 pandemic required a focus on helping the industry navigate uncertain times.
• Building resiliency and adapting to changing circumstances is essential for the hospitality industry.
• Early-career professionals should stay open to new ideas, build a broad network, and understand evolving customer needs.

‍Timestamps *Timestamps* ‍ ‍00:00 Introduction and Background

02:21 Meal Ticket: Helping Stakeholders in the Food Service Value Chain

04:24 John's Journey from Banking to Restaurant Tech

07:57 The Evolution of Restaurant Technology

13:06 Building a Successful Restaurant Tech Stack

22:42 The Future of Restaurant Technology

24:12 Converting Pen and Paper Users to Digital Solutions

25:02 Exciting Trends in Restaurant Technology

25:51 Understanding the Needs of Food Distributors and Suppliers

28:45 Optimizing Businesses through Rebate Management

31:49 Prioritizing Product Features and Enhancements

35:23 Navigating Crisis Management during COVID-19

42:26 Building Resiliency in the Hospitality Industry

48:22 Lessons for Early-Career Professionals