The majority of sectors have had to deal with their challenges over the past 12 months, but few have had as bad as the hospitality and leisure industry which needs to be saved. Urgent help is needed to reduce the number of businesses that will not be unable to re-open their doors to the public and urgent attention is needed to improve the efficiency and growth potential of this sector.
Hospitality was and still is one of the lowest-performing sectors in productivity in the UK. Even Pre-Covid, the sector has been grappling with a number of economic headwinds including increased food prices, record-high levels of both rents and business rates and Brexit has increased pressures on loyal and reliable employees who have been forced to leave the UK.
Covid and been a Tsunami to these additional challenges, with the majority of employees having been put on Furlough or having lost their jobs altogether. It is important to understand that this sector is also one of the largest number of employers of any industry and it is difficult to know how the landscape is likely to change long term but we do know that urgent help is needed.
It is imperative that the hospitality sector focuses on improving its efficiency and productivity which is far behind other Industries and critical for its long-term success.
The industry has seen the recent dramatic changes of digitisation including the take up of Order and Pay systems and including some highly sophisticated systems that improve restaurants back of house. Digitization will help to reduce costs and improve efficiency. There are a number of restaurants and pubs that already use sophisticated EPOS systems to try and understand the operations of the business so that improvements can be made.
Opagio has the knowledge and digital capability to offer independent or National Chains “Operational Excellence”. A bespoke Blueprint can be quickly generated based on granular data which is then measured and scientifically assed to offer an accurate economic performance that will enable the operation to improve their productivity. All new digital systems being installed need their performance to be accurately assed at a granular level. This is the only true way to enable performance and growth of the business to be enhanced and maximised.
Opagio can offer firms integrated reports that will enable them to understand their business, generate more interest from investors that can drive revenue, profit, growth and future investment.