MOVING Spanish hospitality industry into the digital age as it starts to recover from the pandemic, new technology is being introduced in Spain in order to make ordering of stock more efficient and to calculate the cost of each item on the menu.
One innovative company, Choco has created new software which digitises ordering, supply chain and communications for the hospitality industry in Spain, including suppliers and restaurants.
Although it’s a €7.5 billion market in Spain the majority of owners conduct most transactions with pen and paper or spreadsheets.
According to Larry Aschebrook, Managing Partner of G Squared, the Choco software already shows “impressive levels of user engagement and true value creation for customers; we are excited to see Choco fulfil its potential to modernise the food supply chain, at a time when we believe it is needed more than ever,” he adds.
The company, which has grown by 333 per cent in Spain in the last year was valued at €1.12 billion just three and a half years after its creation.
Another innovative new company Haddock specialises in intelligent cost control for restaurants and has revolutionised Escandallos, a tool that calculates the costs of dishes automatically.
With their Escandallos functionality, the user will only have to take a photo of their invoices and delivery notes and upload it to haddock.
The platform will automatically extract the information from the products and the restaurateur will only have to choose the ingredients of their recipes to make the price tag for each dish.
The ingredients will be automatically updated with the last purchase price, and once the sale price has been added, the restaurateur will be able to control the profit in real time for each dish on the menu.
The move is expected to streamline accounting for restaurants in Spain, reducing costs and increasing profits.
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