AIS, KBank tie knot on eateries
Advanced Info Service (AIS) has partnered with Kasikornbank (KBank) to enter the local restaurant sector, which is increasingly going digital to reduce costs and improve efficiency.
There are around 80,000 restaurants across the country in a market that is expected to be worth 397 billion baht in 2017, up by 4% from 2015.
Pratthana Leelapanang, acting chief marketing officer of AIS, said most restaurants in Thailand still rely upon employees for their core operations, causing needless loss of time and expenditure.
Restaurant operators need to deploy innovative digital technologies to increase their capacity and serve rapidly changing consumer behaviour.
AIS will provide a technology-based management system while KBank provides payment solutions, billing and an online accounting system.
Mr Pratthana said 69% of restaurants in Thailand are small and medium-sized enterprises (SMEs) that have slow operations for ordering, stocking of raw materials and accounting. They also risk incorrect input of orders and receipts.
He said the restaurant management system connects all segments of restaurant management: storefront service, the kitchen, automated data connection to the accounting system, and payment via online application through AIS’s internet network.
AIS and KBank joined forces with two rising tech startups — FoodStory and FlowAccount — to fulfil operational systems for restaurants on cloud-based data storage.
FoodStory provides restaurant management systems on iPads, which display food menus and take orders from customers. The system could reduce wait times and minimise worker errors in taking orders or stock control.
FlowAccount provides an online account management system that is linked to FoodStory.
Mr Pratthana said the company hopes its restaurant management solution attracts half of the market, or 40,000 restaurants, with operators of all sizes.
The system charges restaurants a onetime fee for installation of related devices ranging from 17,500 baht to 73,400 baht, plus a monthly service fee of 1,779 to 3,670 baht.
He said AIS wants to sign up 2,000 restaurants to the service this year.
Patchara Samalapa, KBank senior executive vice-president, said the service is designed for more integrated, flexible and efficient management. The bank is looking to introduce similar payment solution services to support SMEs in other businesses in the near future.
Mr Pratthana said AIS and KBank have developed a long business partnership through using innovative business tools to provide digital platforms to businesses.