ALL YOU NEED TO KNOW ABOUT THE UNIFIED PAYMENT INTERFACE(UPI) IN EXPODINE

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What Is UPI ?

With India moving a step closer towards becoming a cashless economy with the launch of Unified Payment Interface (UPI) last year, every business is trying to get into this system so that they can also benefit from the new technology and in turn boost the sales with simplified cash transactions. With this new payment method, your smart phones will double up as virtual debit cards and you’ll be able to send or receive money instantly. Along with Bharat QR code, it can help you get rid of your wallet all together.

Here bank uses to transfer money and make payments using the IMPS (Immediate Payments Service). IMPS are faster than NEFT and let you transfer money immediately and it works 24×7. This means that the online payments will become much easier without requiring a digital wallet or credit or debit card.

With the Unified Payment Interface, all bank account holders can make secure fund transfers in an instant without the need to enter bank account information or net banking credentials.

As far as the end customer is considered, they need to download the third party app which has the payment method UPI. Like  Trupay,BHIM,Phonepe etc. Once done, they need to link account with app with one time registering with UPI giving your phone number as identity for registering and setting up with 6 digit code(which can be used to connect any app with account later on). Voila… that’s all. One can do payment and receive payments with that app.

 

How UPI will Help the Restaurant Business

By implementing UPI those who are into restaurant retail business can save the extra cost which they have to pay to the banks when they use a swiping card machine to accept payments from customers.

According to experts, the UPI will help to increase the business of the restaurants, takeaways and home delivery  joints by removing the hassle of keeping exact change for the remaining balance when the customers pays in the outlet or at their homes and reduce the delivery or table turnover time. Secondly, the people who do not have cash at home can pay through this app, giving your customer a convenience of paying through a card.

Scan and Pay with UPI Method is Readily available and integrated with Expodine Restaurant Management system, which will change the ways in cash settlement management are done.

Listing more to its advantages

 

For RESTAURANT OWNERS

  • With UPI there is no need to install any additional hardware or Swiping POS machine making it a cost effective solution.
  • All due amounts will be credited instantly into the Bank Account of the Merchant automatically.
  • Can view the live reports of the transaction.
  • Faster settlements means more table turnover ,which will directly effect the revenue of the restaurant .

For End Customers

  • Most advanced and cost effective payment system where the end customers can scan and pay directly from their bank account using any UPI app from their mobile phone
  • Unlike Mobile Wallets there is no need to top up money into mobile wallet account. With UPI you can directly pay from your bank account.
  • Customer can make UPI Payment through any UPI supported Apps or online banking applications

Conclusion

With a one-stop point for accessing different bank accounts in single app, single click authentication, try out  another new,super fast and secure payment mode available in present technology !this blog will may help users to adopting the new UPI system for there secure translation

PROMOTE YOUR RESTAURANT WITH THESE SIMPLE TECHNIQUES TO GENERATE SALES

The Best Restaurant POS System

Just because you have a small budget doesn’t mean that you have to settle for small marketing approaches. With these simple and cost-effective advertising tactics, you won’t believe how much business you will be able to generate – and you may even be shocked to find that you have some money left over in your budget (and you’ll certainly start enjoying a surge in your revenue).

Use Social Media Platforms

If you’re not using social media, you’re losing business. Get involved with the various social platforms to find what works best for your cuisine, customer base, and concept. You’ll want to post content with keywords that relate to your concept, cuisine or menu. Post photos of the restaurant, offer educational posts about culinary topics and sponsor community or charitable causes.

Get Your Website Ready

You need a functional website with responsive design to get anywhere in marketing your restaurant. Make this your first priority because almost all of the best marketing ideas depend on having a website to anchor them. Publicize your website on all your advertising, promotional materials and stationery because it’s just as important as the restaurant’s physical address

Optimize Your Online Presence

Claim your listings in local directories and restaurant review sites. Join the local chamber of commerce and business organizations. Send out press releases to local newspapers, magazines, schools and nearby manufacturing facilities to let them know your restaurant is open for business. Get your menu online on your website or through a third-party provider. Customers make reservations and place orders from their smartphones, so they need to be able to find your restaurant and menu online.

Foodie Photos

If you’ve ever logged onto Instagram, you’ll understand that food photography is alive and well.

Arguably the very best way to promote your restaurant online is with high-quality, drool-inducing photos. Visual content is in high demand online these days, and having delicious looking photos on your website and across various social media outlets is essential for drawing hungry eyes.

Blogging

Blogging is a very effective way to advertise your restaurant and stay on budget. You don’t have to go crazy; just a basic blog that features fresh, relevant and attention-grabbing content (images of your food, posts about exciting upcoming events, new menu items, etc).

Promote your blog on your website and on your social media profiles. You won’t believe how much business you will be able to generate from a basic blog.

What types of marketing tactics are you employing to promote your restaurant? What has worked the best for you? Share your success stories with us! We’d love to hear them!

Ways to Lower Food Cost in a Restaurant

How to lower food cost in a restaurant

There are many things that keep a restaurateur up at night and the rising food costs are one of them.

It becomes extremely difficult to monitor the profit and loss in a restaurant because of the constantly varying inventory costs adding up to the food costs.

In the journey to alleviate food costs in your restaurant, you’ll likely start cutting quality of the dish, which is the biggest mistake a restaurateur can ever make. Special care should be taken to lower the food cost without sacrificing the quality.

So, what is food cost?. Food cost is the sum total of preparation costs, handling costs, and everything else that goes into a dish, including the salt and ketchup. Even consider the potential food wastage and portion size while calculating the food cost.

Many restaurateurs would argue that instead of lowering the food costs, you should concentrate on improving the menu items. That would be absolutely helpful but improving the menu items alone is not going to get you anywhere. Imagine that you try out the same dish from two different restaurants A and B, which offers the best-in-class service and drool-inducing dishes that’ll leave you begging for more. But the only difference between them is that restaurant A offers the dish at a lower cost. If that is the case, which restaurant would you go back to?.

If I was in your place I would say restaurant B just to prove the writer wrong ;). Well, jokes apart almost everyone would prefer going back to restaurant B.

The key point that ever restaurateur should remember is that it’s not about lowering the food costs, it’s all about improving the food costs. Before jumping right into the article think of at least two ways by which you can improve your restaurant’s food costs and if you can’t find those ways listed in this article do let me know. Are you ready?

Let’s get started.

 

Menu analysis

The menu is the most crucial factor that drives income into your restaurant. Special care should be taken to regularly analyse the menu to keep the food costs in check and the margins up.

When conducting menu analysis, monitor on a day to day basis and try to come up with at least one way by which you can alleviate your food cost. Also, consider eliminating the parts of a menu that are regularly being left uneaten.

 

Buy in bulk

Approach local farmers and food manufacturers to buy food in bulk. This is not as difficult as it seems. Because of the growing competition among farmers, you might even end up with a better deal if you do proper research.

Even if the items are being offered dirt cheap take special care to never compromise on the quality of food items being purchased as the taste of the menu items will vary drastically based on the ingredients being used.

 

Negotiate

Negotiate with at least three other suppliers and get the service quoted by them. Also, let the supplier that you are already negotiating with know that you are getting quotes and will go with the best one available.

To have piece of mind, always have a backup supplier in case of a deadlock. This will also grant you more confidence while negotiating a deal.

 

Reduce Wastage

Based on the past sales maintain a record of what all items you want before placing the order. Special care should be taken to avoid overbuying fresh produce. Upon arrival, inspect the products and store them properly ( Before storing hot items in a refrigerator pre-cool them, ensure that proper temperatures are being maintained inside the freezer/refrigerator etc). Ensure that everything is organised and labelled with their purchase date.

Letting your staffs know that you are going to monitor what gets dumped and following up using clear plastic bags helps. Also, consider donating food items that you are not planning to use.

 

Buy Seasonal

The relative abundance of the food items when the produce is in season locally makes it cheaper. During the off-season, the items are grown in a hothouse or shipped from other parts of the world, which adversely affects the taste of the items. As the taste of the food items that we buy is as important as the cost, if not more, consider designing seasonal menu cards.

 

Try Different Brands

Don’t be afraid to try out different brands before settling upon one as the chances of ending up with items of the same quality at a much cheaper rate is high if you keep experimenting with different brands.

 

Automate

Save time and eliminate data entry errors by investing in a restaurant management system that helps in completely automating the processes like inventory management, accounts management, and several other tasks such as menu management etc.

 

Train Staffs

Slow/bad service can doom a restaurant. As every customer who walks out of the door is a loss in revenue, train your staffs well to implement portion control, reduce wastage, and increase the table turnaround time.

 

Control Portion Size

No one notices if you offer too much food, but everyone looses their mind if you are giving less.

So, special care should be taken while controlling the portion size as it’s important to keep the portion sizes in check to maintain the overall restaurant profits.

 

Prevent Theft

Product theft is a major factor of profit loss. Special care should be taken to prevent theft. Consider installing security cameras strategically to monitor employees and let them know that they are constantly being monitored.

In the run to increase your restaurant’s revenue take special care to not cut the quality of the dish. After all, that’s what keeps the customers coming back for more. Implementing the above- mentioned steps will help you in the journey to increase your restaurant’s revenue.

Having anything extra to add? Feel free to post your comments/suggestions down below.