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The Foodtech sector has steadily grown over the last few years. It covers those with new innovative products and services, those in distribution and marketing, and those who have changed the traditional model. New technologies have changed our lives, and, the food industry is no different. How we order and think about food has changed, too, with health, cost, ease, and sustainability all playing a part.
With this knowledge, firms and investors are now investing heavily in R&D and innovative projects. The sector is now growing to meet this demand as well as the changing requirements of consumers' We speak to CoverManager CEO Jose Antonio Perez, whose firm is more than meeting this challenge.
Jose: By combining Tech and Hospitality. Our technology benefits from automations, big data and business intelligence to extract information from the reservations and then provide it to the restaurant. That info is then provided to the restaurant for it to optimize its strategy and increase its rentability. Nevertheless, this would be impossible without CoverManager's human team. They work hand in hand with our partner restaurants so that they can make the most of our tools. As we like to say, we're not a tech company. We are a hospitality company that develops technology.
Jose: Our software's system is 100% customizable for and by the restaurants and its needs. Each restaurant has its own settings so that every single one can improve occupation. On the other hand, our No-Show tools are groundbreaking. Our system includes the option to ask for the customer's card number, in case the restaurant wants to take action against the last-minute cancellations. They can charge them a certain amount in that case. We also allow the restaurant to charge the customer in advance to make sure the customers appear after making the reservation.
Jose: Our clients are the absolute center of our business. Listening to their needs is the key to success. If we add this to the best technology in the market and a high-quality human team, we are the perfect combo.
Jose: The first and greatest challenge is the fact that there are still many restaurants wary of digitalizing their operativity, perhaps because they are afraid of change. Also, restaurant customers are unaware of the damage No Shows can cause for the industry, so they don't like paying in advance for this kind of service.
Jose: CoverManager aims to be an integrating tool that allows restaurants to control the entire sales process from a single place. We are working to have the largest Channel Manager in the industry, in addition to offering in-house solutions such as digital orders and payments and an advanced CRM system.
Jose: Our flagship integration with Meta enables bookings through Facebook and Instagram. Currently, we have a Channel Manager that encompasses 60 platforms, websites, portals, and booking apps. We can't reveal too much, but we are working to provide the industry with significant integrations with the most sought-after booking channels in the global and local restaurant markets for each market.
