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Shift4 Payments Inc. says it has added a new business-intelligence module to its SkyTab POS platform for restaurants.
The new module, aimed at dining establishments of any size, provides more granular data-filtering options for restaurants’ point-of-sale system, such as detailed transaction-management and revenue-center reporting. Chains can use the module to extract business-performance data across their entire business or for individual locations, while smaller restaurants can use the data to effectively compete with large chains, Shift4 says.
In addition, the new module includes a multi-location menu-management feature, which enables restaurant chains to centrally manage their menu across all locations. Shift4 says the new module is free to clients.
“Comprehensive reporting is critical for any restaurant to succeed, and multi-location restaurants require even more robust capabilities to manage all of their data in one place,” Nate Hirshberg, senior vice president of marketing at Shift4, says by email.
SkyTab BI provides Shift4 customers with a detailed view of their business, from high-level overview dashboards to granular transaction-level data, and presents the information in a way that makes it very actionable for restaurateurs to improve their profitability, Hirshberg adds.
Shift4 also says clients using the new system will not have to turn to third parties to get the same level of data from their point-of-sale system. “Historically, we have always had to go to a third-party vendor to get this type of information,” Allison Varlan, chief financial officer for Live! Hospitality & Entertainment says in a statement.
Live! venues include dining, entertainment, gaming, hotel, and sports-anchored destinations in the United States, serving over 55 million visitors annually.
The addition of the new module comes at a time when restaurants, like many businesses, are becoming more data driven as competition heats up. “Just as marketing is becoming more targeted because of technology, the same idea applies to POS,” says Cliff Gray, principal at Chicago-based Gray Consulting Ventures LLC. “Restaurants want to cater to the payor in the moment, and adding tweaks and filters to their POS systems enables them to do it.”
In February, reports surfaced that Shift4 was seeking a buyer. Fiserv Inc. and Amadeus, a reservations-processing company based in Spain, were rumored to be possible suitors, though the company would not comment on the matter.
