Lightspeed introduces AI tool 'Benchmarks & Trends' for smarter hospitality insights

Hospitality entrepreneurs in the Netherlands are supported with real-time market data that will help them strengthen their competitive position

Checkout and payment platform Lightspeed (NYSE: LSPD) (TSX: LSPD) has launched the AI tool Benchmarks & Trends. This new tool helps restaurateurs leverage real-time data to make better-informed decisions on pricing strategy, staff deployment and operational efficiency.

More and more restaurants are embracing technology to improve their operations. Hospitality companies can use Benchmarks & Trends to view their local market's average turnover, number of orders per hour, food and drink mix, prices, revenue per hour, revenue per cover, table occupancy and more.

Dax Dasilva, founder and CEO of Lightspeed: "When you run a restaurant, it takes time to research competitors and keep your edge over them. You can spend that time differently on your daily operations. With Benchmarks & Trends, we offer hospitality entrepreneurs access to data-driven insights and crucial market information to improve their performance. At the same time, we help entrepreneurs gain confidence in their ability to apply these insights effectively to strengthen their competitive position."

What Benchmarks & Trends has to offer restaurateurs:

• Comparison data: real-time benchmarks of similar hospitality businesses in the area, matched by type of business and location.
• AI-driven predictions: automated analytics that spot trends and help predict future performance.
• Operational insights: optimise opening hours, staff and menu strategy based on sales peaks, order frequency and product mix.
• Ease of use: an intuitive interface enables in-depth insights in just a few clicks, without specialist knowledge.

Designed for ease of use, the tool was extensively tested by Jerome Vandermeulen, co-owner of Manhattn's Burgers, a restaurant concept with branches in Belgium and France: "As an entrepreneur, you base a lot of decisions on experience and intuition. But sometimes you need confirmation: was it really quieter today, or does it just feel that way? Benchmarks & Trends helps to answer such questions with facts. The data gives us both overview and guidance, without feeling stuck with the numbers. It makes it easier to make choices with confidence."