CREATING OPPORTUNITIES THROUGHOUT 2021
While 2021 saw many businesses remain locked down or go bust, Quantaco used this as an opportunity to improve its business offering as well as launch new software development initiatives that focus specifically on helping hospitality businesses improve the way they run.
Launching New Programs
One of these initiatives is Salesline. The program allows you to forecast sales in 15 minutes increments. With this, it’s possible to correctly assign staff during peak hours and track real-time sales, making it much easier to monitor business performance and other relevant benchmarks.
With such a short supply of labour, it’s never been more important for venues to be able to effectively roster and manage their staff, that’s where Salesline can really help- Scott Barber, CCO Quantaco
Another program developed is Cashup. If spreadsheets and end-of-day accounting are becoming too troublesome, Cashup provides a more efficient solution. It automates daily sales and easily identifies errors when accounting for the day’s takings.
Offering Much Needed Coverage
This year also saw the introduction of two services: Insurance Brokering and Discretionary Mutual Fund. Uncertainty has been a major theme in the last two years, and risk management is part of any successful business.
For the hospitality industry, insurance has been an issue for years, but getting full coverage through Quantaco’s brokering service gives hospitality a risk management plan that offers appropriate long-term insurance at an affordable cost – James Sharp, Account Director Insurance
Plus, with the Discretionary Mutual Fund, you get access to an innovative solution designed to provide the appropriate cover for building insurance with visibility over future pricing.
Improving and Scaling Current Services
Aside from developing new software, Quantaco has also been busy expanding its advisory services. With this service offering, Quantaco acts as an extension of the management team to provide financial, budgetary and strategic advice in addition to curated technology for the business.
By focusing on the best use of technology to deliver advisory services, clients quickly get accurate information to make informed decisions. This includes utilising robotics on the financial reporting platform to significantly reduce the risk of fraud and increase the accuracy and speed in the delivery of financial data.
Quantaco’s capital advisory business has also been scaled.
The low-interest rate environment and liquid debt markets have enabled a broad range of choices for clients looking to maximise the efficiency of their balance sheets – Martin Kennedy, Executive Director Capital
HOW THE HOSPITALITY BUSINESS IS SHAPING UP
Things have changed in a big way in the last couple of years. And if the industry wants to bounce back, big things need to happen as well. Here’s what hospitality businesses need to know about the future of the industry in 2022 and beyond:
Taking Advantage of Emerging Trends
One of the emerging trends to come out this year is the importance of local venues. Communities have rallied around their local pubs, which have helped many business owners stay afloat. It strengthened the resolve of local venues to further invest in their business and provide community-specific unique offerings alongside new revenue streams.
With huge support for community venues, it’s the consumers who’ll come out as the winner. And for good reason. Venues have innovated and have offered home deliveries, diversifying the menu with their own creations, or having members-only offers – Anthony Sullivan, CEO Quantaco.
Quantaco sees this shift to continue beyond 2021. It’s an opportunity to unlock the industry’s potential through its various services. And at the end of the day, customers will be happier than ever, getting a far better experience, close to home.
Opportunity Disguised as Industry Challenges
Aside from current trends, the challenges facing the industry are also opportunities for owners to improve the way they do business. And one of the biggest challenges observed by Quantaco is venue staffing.
Venues were closed during the lockdown, and COVID-19 close contact rules made it even more challenging to get staff to work. We worked closely with clients on strategies that have improved staff retention and loyalty during lockdown – Mitch Stone, Executive Director Business Advisory.
Business owners were able to remain connected with their staff, and this display of loyalty has made employees commit to their employers despite the continued uncertainties surrounding the industry.
HOW QUANTACO PLANS TO RESPOND
Quantaco isn’t resting on its laurels, and just like in 2021, the company will be innovating and pushing forward to provide the best for hospitality and meet their ever-changing needs. For 2022 and beyond, the company will continue to focus on the following:
New Products & Solutions: New or expanded solutions will be rolled out over the course of the year, further helping venues improve their operation, lower costs and improve productivity.
Improving risk management products: With initial products now being offered, there’s still plenty of room to grow. Quantaco will be helping the hospitality industry have a better understanding of the type of coverage needed in these changing times.
Carbon footprint reduction: The future is green. Taking care of the environment benefits us all, and Quantaco recognises this. So, they’ll be taking steps to help operators identify their existing carbon footprint along with suggestions on how to head towards a zero-emission operation.
