here are numerous factors to consider when running a profitable FnB business. According to industry experts, shrinkage occurs mainly due to non-transparent sales, over-pouring, spills, incorrect accounting or giving away free drinks. This filters down into margins, hampering the profits. Portion control is very important to a bar or brewery, and to maintaining correct beverage costs and overall profits.
InnovatorsBay self-pour smart dispensing solution - TapIO, can bring down losses in the FnB industry, revolutionizing the entire system. Using advanced AI and IoT, the fluid control system tracks what is poured in real-time than what is actually rung-up on the customer’s POS system, essentially keeping staff responsible for all the inventory down to the minute.
The self-pour technology of TapIO empowers customers to pour on their own, bringing delight experience and convenience. TapIO also gives bar owners uninterrupted access to data, as it tracks every drop poured by customers, and draws larger crowds.
This gives room to breweries, bars, and restaurants to reach their customers in more unique ways; creating a new experience for drinkers-an innovation we all are looking for. Craft beer revolution is catching up and self-pour technology has emerged as the leading tool to allow beer lovers to indulge in the variety of craft beers. Restaurants, bars and taprooms can allow customers to explore a wide selection of offerings. Not only does the self-pour beer system allow the customer to sample beer at will, but it also enables the restaurant to maximize revenue by offering more variety, including more premium-priced offerings, and it significantly reduces "giveaways" and product waste.
TapIO has a very low cost of ownership, making the breakeven period very short for the client. Customers can even use the TapIO to compare their records of ounces served, pricing and sales.
We are just scratching the surface. TapIO as a technology can be deployed for various other applications like outdoor events, industrial applications and water regulation. Looking forward to the bright future.