Defending Revenue with GoTab's Innovative Insufficient Funds Protection
In the dynamic world of hospitality , the unsettling specter of dine-and-dash casts a shadow over all establishments. This issue, underscored by a telling 2018 Barclaycard study revealing that approximately one in 20 diners has daringly departed without settling their bill, poses an enduring challenge. As economic factors like inflation and persistent labor shortages impact patrons' financial capacity and patience when it comes to settling their dues, the threat of dine-and-dash remains very much alive.
The far-reaching consequences of dine-and-dash and insufficient funds problems pose a multifaceted challenge for owners. These incidents not only thrust undue financial responsibilities onto your waitstaff, thereby hampering their ability to earn tips and perform their duties effectively, but they also curtail the range of services and offerings you can provide to your valued patrons. It's a staggering revelation that these issues could potentially erode as much as 5% of your painstakingly accrued
The GoTab Solution
However, there's a brighter, more efficient path to confront these challenges head-on while fortifying your revenue streams. GoTab, renowned for its cutting-edge Restaurant POS and Kitchen Display systems, introduces the game-changing Insufficient Funds Protection feature. It's a powerful solution that transforms the way you safeguard your revenue and enhance your patrons' experiences. The best part? It necessitates zero additional effort on your part. With a simple, one-step activation in the GoTab Manager Dashboard, you can fortify your earnings, protect your business, and offer a more secure and enjoyable experience to your valued guests.
How GoTab's Insufficient Funds Protection Unlocks Your Potential
Now, let's dive into the mechanics. When a guest opens a tab with their credit card through GoTab's POS system, GoTab secures the funds for the balance due with every new order placed. Imagine a guest ordering a delectable meal and a round of drinks, tallying up to $125. The moment this order is placed, GoTab authorizes the $125 payment and locks those funds on their card, ensuring they can't be utilized for any other purchase. If this guest decides to continue the night with another round for the table on the same tab, GoTab repeats the process, authorizing and locking the new order amount. Essentially, GoTab captures payment (along with any gratuity) for every order throughout the tab's duration. This guarantees that all required funds are securely in place before any order is sent, eliminating unexpected surprises.
Ensuring a Secure and Smooth Experience
With GoTab's Insufficient Funds Protection, you can significantly reduce the number of open tabs that face rejection at the end of the night due to issues such as insufficient funds or card-related problems. It's a win-win scenario, fortifying your revenue and offering peace of mind, not only for you but also for your valued patrons.
To explore how GoTab's innovative Insufficient Funds Protection can empower your establishment, safeguard your revenue, and deliver a superior guest experience, get in touch with your dedicated GoTab Account Executive or request a demo today!
Tap Room Playbook Episode 2:
When you really think about it, with everything managers need to do in a tap room, the hospitality aspect is often overlooked.
Situated “in the heart of it all, yet tranquil enough to make you feel away from it all too,” The Limelight Hotel Snowmass offers 99 hotel rooms and 11 residences, as well as footsteps-to-gondola access in winter and summer — right in the middle of Snowmass Base Village.
The Situation
Especially over the last few years, the Limelight Hotels IT team had witnessed a significant shift to contactless technology in the hospitality industry. After evaluating friction points in the guest journey, aligning with modern technology platforms in their restaurant was determined to be an effective way to offer elevated contactless dining experiences to their guests while also evolving their technology platforms to continue to support long-term company goals. Limelight Hotel partnered with GoTab to provide an enhanced on-demand dining experience on par with the brand’s reputation for exceptional guest service.
The Solution
Reducing Staff Touch Points Without Sacrificing Guest Experience
Guests are now able to begin a tab from their room or the property’s restaurant by scanning a QR code, texting a link to friends or family members on the ski slope to add in their orders, then meeting up together at the patio or lodge to enjoy their meal and après ski festivities without interruption. By streamlining tasks like inputting orders and processing payments, this eliminates friction for hotel staff and allows them to focus on delivering renowned guest service for a memorable experience. Since partnering with GoTab, Limelight Snowmass has consistently seen higher check averages and sales.
“We found the Point of Sale platforms we were looking at offered the guest and staff limited opportunities to further reduce touch points or improve the traditional restaurant experience. The GoTab platform enabled the guest to take an active role over the flow of their experience while simultaneously reducing touch points and further streamlining restaurant operations.”Nick Giglio, Manager of Hotel IT Operations, The Little Nell Hotel Group
According to the Limelight Hotels team, some of the other platforms that were evaluated were either missing some of the pieces they were looking for, had weak customer support models, or had little willingness to develop integrations to existing hotel platforms already in place. To that end, GoTab integrated with cloud-based platform, Infor. Together, GoTab and Infor are providing dynamic solutions to support central, efficient service across hotel amenities and deliver exceptional guest experiences.
“Previously, guests would call down to the restaurant to begin an order from their room or while they were out enjoying the ski slopes. Using GoTab, guests can now place orders from anywhere on the resort, giving them the on-demand service they want without interrupting their day. GoTab empowers us to give control to the guest, reducing touch points and streamlining overall restaurant operations, making Limelight Hotel the resort of choice for Snowmass.”Nick Giglio, Manager of Hotel IT Operations, The Little Nell Hotel Group
Since introducing GoTab, The Limelight Hotel has seen a consistent level of upsells and items sold per check resulting in additional revenue capture. They have been able to maintain service levels in their restaurants during periods when there was reduced staffing available without significantly diminishing the guest experience.
The Benefits
Eliminate Phone Orders – Take Orders from the Slopes. Guests can start a tab from their room or on the mountain without interrupting the flow of their day.
Future-Proofed Technologies – Delivering elevated contactless ordering via integration with the Infor hotel management platform.
Eliminating Friction in the Guest Journey – Maintaining service levels during periods of reduced staff without diminishing the guest experience.
Eliminating Friction in the Guest Journey – Maintaining service levels during periods of reduced staff without diminishing the guest experience.
Eliminating Friction in the Guest Journey – Maintaining service levels during periods of reduced staff without diminishing the guest experience.
Eliminating Friction in the Guest Journey – Maintaining service levels during periods of reduced staff without diminishing the guest experience.
Eliminating Friction in the Guest Journey – Maintaining service levels during periods of reduced staff without diminishing the guest experience.
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