Hong Kong, 19 May, 2020 – Eats365, a graduate of Hong Kong Science and Technology Parks Corporation (HKSTP) Incubation Programme, has developed a new online ordering platform - Eats365 Online Ordering Suite, comprised of the Eats365 Marketplace and the Merchant Branded Web. By combining Eats365’s POS solution and their new online-to-offline (O2O) platforms, Eats365 provides Hong Kong’s first integrated solution for the F&B industry, creating new opportunities for local restaurants to expand their businesses into food delivery.
The Eats365 Marketplace, available as an app and website, serves as a hub where customers can conveniently discover restaurants, browse their menus, order meals and pay for takeaway or delivery, while on-the-go or at home. The Merchant Branded Web is a dedicated online platform that allows restaurants to easily set up and customise their own websites to create an additional sales channel while boosting branding and marketability.
Enhancing the competitive edge of F&B industry through operational cost reduction
With current non-integrated systems, restaurants have to operate over multiple systems, create several menus and receiving orders on separate platforms. The Online Ordering Suite combines all these processes under a single platform. Those restaurants already using Eats365’s POS system will be able to directly integrate the Online Ordering Suite with no additional hardware required. Online orders are received and processed by the POS and directed to the kitchen. With the option to automate the receipt and handling of online orders, restaurants can further increase efficiency and reduce operational costs. They can also keep track of their revenues through real-time business performance insights and analytics.
Eats365 Online Ordering Suite extends restaurant merchants’ reach to customers, and provides restaurants, especially small-to-medium-sized operators, a greater control of their revenues from online orders. Eats365’s online ordering platforms offer a much lower commission rate, thus providing a higher margin and better bottom line for the merchants. For example, for an order of $800, the total cost to a restaurant for a delivery order can be as low as a third, compared to a typical food delivery platform. Restaurants may then choose to lower the sales prices to benefit their patrons and raise competitiveness in the online takeaway market.
To enable smooth delivery services for restaurants, Eats365 collaborates with a range of local courier delivery partners. Restaurants can set the delivery fees and delivery distance directly on Eats365’s online platforms. Compared to other food delivery platforms, fees and delivery methods can be negotiated between the restaurants and courier delivery companies separately. This gives the opportunity for restaurant merchants to charge the lowest delivery costs to customers.
Wilson Lee, Founder and Chief Executive Officer of Eats365, said, “The trend we are seeing online is evolving towards a more diversified ordering flow. Existing systems and platforms for the industry are not sufficient to cater to this change. With our new Eats365 Marketplace and Merchant Branded Web, the current Eats365 POS and modules, as well as with our over 1,000 merchant partners in Hong Kong, we serve as a technology enabler for restaurants to help bridge the gap between ever-changing customer needs and the unfulfilled market potential. Over 100 merchants are expected to join our new platforms by mid-May, allowing customers to order from a wide array of restaurants with a few simple taps on their mobile devices.”
Ir. Peter Yeung, Head of Electronics and ICT Clusters, Smart City Platform of HKSTP, said, “We have seen Eats365 evolving from a POS system developer to an integrated F&B business solution provider. We are pleased to witness the launch of their online food ordering platforms and believe that they can help restaurants and eateries to explore new possibilities under the current challenging circumstances. Innovation and technology can unleash new potential for Hong Kong’s businesses, and create new opportunities for traditional industries, drive business transformation, and bring greater benefits to society.”
Phase one of the Online Ordering Suite was launched in mid-May, while phase two (which includes integration with local delivery companies) will be launched in Q3 2020. “We are in the process of integrating the Eats365 Marketplace with local third-party delivery services, so restaurants can manage all their delivery orders seamlessly through one POS,” Wilson added.
