IT Brief Australia logo
Technology news for Australia's largest enterprises
Story image

Hospitality sector uses cloud-based analytics as it roars back to life

By Ryan Morris-Reade
Tue 1 Mar 2022

Hospitality can be a hectic business. Cloud-based system hospoIQ was developed for just this reason.

The first brainchild of New Zealand–based 2IQ, hospoIQ offers business intelligence for the hospitality sector. It brings together point of sale (POS), rostering, wages and accounting data into one clear dashboard and insights platform that provides projections, comparisons and overlays so businesses can adapt in real-time.

"Hospitality was one of the hardest-hit sectors of the economy when COVID-19 struck, and while some were able to operate a takeaway service, many others closed their doors," says the company. 

"As the sector gets into gear again, it's facing challenges – good staff are hard to come by and keep, rules and regulations about how they operate continue to change, and customer expectations have shifted. It's even more important that businesses have a good grasp on how they are performing and what the future might hold."

Built on Microsoft Azure, hospoIQ is elastic and scalable by design. So when businesses did have to shut their doors to customers because of the risk posed by COVID-19, hospoIQ was able to suspend customers' subscriptions.

Now it's all systems go again, according to 2IQ co-founders Andrae Gaeth and Craig O'Loughlin.

"hospoIQ allows businesses to monitor wage costs against sales day by day, explore historical patterns and predict demand to help optimise rosters for the next week," says Gaeth, who is also the CEO of 2IQ.

O'Loughlin, chief operating officer at 2IQ, says hospoIQ lets a business owner quickly assess if they are making money or not.

"Traditionally, a lot of hospitality businesses would rely on their accountant telling them at the end of the month, which is probably too long before they realise that they've lost money," he says, "hospoIQ provides easy access to gross profit, margins and wage costs."

"It's probably making them think a lot harder about what items they should be selling because these are the things that give them the best margin. When you're doing well, and you're selling tons, then it probably doesn't matter so much. But when you're selling less, you need to be thinking harder about what things to sell because you need to be making sure you're making a good margin."

He says gross profit has become more important to hospitality businesses, both their wage costs and their gross profit on the items themselves, so things like the recipe costing are high. 

"I think a lot of providers previously hadn't thought that hard about what does go into a menu item and what's the actual cost of selling that," says Gaeth. "That's something that the solutions helped them with."

According to Debby Rosevear, administration manager at Vieceli Hospitality, which operates six bar brands in the Christchurch area, hospoIQ provides clearer and more concise reporting, particularly on KPIs.

"Managers would be in touch with their numbers, and we needed meaningful breakdowns of these metrics," she says. "And we wanted it in a simple format that they could easily digest. hospoIQ ticked the boxes.

Developed on Azure, hospoIQ collects data from different systems, including cloud accounting platform Xero, and captures it in Azure blob storage before directing it to Azure SQL databases where it can be analysed using Power BI.

The company's proprietary algorithm allows users to explore recent weekday patterns and compare that with what happened a year earlier or see the impact of different events based on a calendar that hospoIQ maintains. For example, if the city was hosting a major sporting event or concert.

hospoIQ is being used in New Zealand by organisations including Savor Group and Armadillos, while Perth-based Sneakers & Jeans has recently signed up as one of 2IQ's first Australian customers.

Falstone Hospitality, which operates Top Hut Sports Bar, 65 Dine Gastropub & Smokehouse and Super Liquor in Twizel, New Zealand, uses the system to provide insights about the business.

Owner Darrin Burgess says hospoIQ delivers a service and a solution that exceeds the company's requirements.

"They provided more knowledge with live linked data that gives accurate, up-to-date reports from front of house and back office at our fingertips," he says. "The conversations we have with our managers are far more intelligent. We can offer them tools to be able to control and report back with their business units."

Related stories
Top stories
Story image
Southern Cross Cable
Southern Cross Cable launches the SX NEXT cable to connect NZ to the world
The new Southern Cross NEXT fibre cable (SX NEXT) is set to connect Australasia to the US and further enhance connectivity between New Zealand, Australia, and the US.
Story image
Elders signs five-year agreement with Microsoft to boost innovation
Australian agribusiness Elders has signed a five-year agreement with Microsoft that looks to transform its customer experience, efficiency and sustainability outcomes.
Story image
Examining the future of ransomware threats with Vectra’s CTO
As customers' valuable data move to the cloud, so will ransomware. What is the current landscape and what do we need to know?
Story image
Your tools, your choice: why allow employees to choose their own devices?
Jamf Australia says giving your team the freedom to work with their digital device of choice could help to attract and retain top talent in a tight labour market.
Story image
Ericsson and Ciena, Telstra enhance service capacity for Telstra's optical network
Ericsson, Telstra, and Ciena have announced new enhancements to Telstra's Next Generation Optical Network, which will increase the service capacity of Telstra's optical network to 400 GE (Gigabit per Second Ethernet).
Story image
Adobe study finds lack of digital trust and utilisation in Australian Government agencies
New research commissioned by Adobe has revealed a significant lack of digital trust within Australian Government departments, along with the continued underutilisation of key digital processes.
Story image
Security Information and Event Management (SIEM)
LogRhythm updates SIEM Platform with latest innovations
LogRhythm has announced the launch of version 7.9 of the LogRhythm SIEM Platform and updates to LogRhythm NDR and LogRhythm UEBA.
Story image
SentinelOne integrates with Torq to empower security teams
"With Torq, security teams can extend the power of SentinelOne to systems across the organisation to benefit from a proactive security posture.”
Story image
Without trust, your security team is dead in the water
The rise of cyberattacks has increased the need for sound security that works across any type of business, but with any change, buy-in is essential. Airwallex explains why.
Story image
Appian unveils low-code certification program in Australia
Appian has announced a program to provide the next generation of low-code developers with access to education on the subject and certification to foster career opportunities.
Discover the 5 ways your ERP may be letting you down. Is your current system outdated, difficult to manage, and costing you a fortune?
Link image
Story image
How New South Wales state departments achieved cloud migration success
State departments in New South Wales are heading to the cloud to achieve better workflow solutions, and one company is paving the way for their success.
Story image
ABI Research
NaaS market expected to reach $150B by 2030 - research
"The market is immature and fragmented, but telco market revenue will exceed US$75 billion by 2030 if they act now and transform to align with requirements."
Story image
Supply chain
Supply chains continue to be disrupted, enterprises embrace circular economy
“Businesses urgently need to find a solution that can help them to manage this disruption, and transition to a circular economy."
Story image
BT builds on Equinix partnership with new cloud offering
BT has launched a next-generation cloud connectivity offering extending its global network into strategic carrier-neutral facilities (CNFs) and building on its existing partnership with Equinix.
Story image
Monitors are an excellent incentive for getting employees back
The pandemic has taught us that hybrid working is a lot easier than we would’ve thought, so how can the office be made to feel as comfortable as home? The answer could be staring you in the face right now.
Story image
Remote Working
RDP attacks on the rise, Kaspersky experts offer advice
"Given that remote work is here to stay, we urge companies to seriously look into securing their remote and hybrid workforce to protect their data."
Story image
ASI Solutions
Western Australia CUA panel picks ASI as preferred supplier
Western Australia's Common User Arrangement (CUA) panel has chosen ASI Solutions as a preferred supplier for device hardware.
Story image
Tech and data’s role in the changing face of compliance
Accenture's study found that 93% of respondents agree or strongly agree new technologies such as AI and cloud make compliance easier.
Story image
NEC expands Open RAN ecosystem with Aspire Tech acquisition
With its agreement to acquire Aspire Technology, NEC Corporation has further increased its capacity to deliver End-to-End Open RAN ecosystems.
Story image
MYOB snaps up Sydney-based management software specialists
MYOB has announced the acquisition of Sydney-based business management software and support specialists, GT Business Solutions.
Story image
EXCLUSIVE: Finding the best data center for your business needs with datacenterHawk
Companies using cloud are consistently looking for the best storage solutions to suit their enterprise needs and often have to go through rather complex processes in order to find the right fit.
Story image
Artificial Intelligence
Salesforce announces new innovations for financial services
Salesforce has launched expanded financial services that offer more targeted and trusted automation to help teams unlock insights, deliver better customer service, and drive operational efficiencies.
Story image
Registrations for the W.Media Sydney Cloud and Datacenter Convention 2022 now open
Are you a C-Level executive looking to enhance your knowledge in the cloud and data center space in order to get the best results for your company?
Story image
How Airwallex helps businesses achieve globalisation success
As markets continue to shift, businesses need to be able to provide the same quality of service for customers regardless of where they are located around the world.
Story image
Businesses unprepared to defend against ransomware attacks
Ransomware attacks continue to impact organisations worldwide with high costs, but businesses are still largely unprepared.
Story image
Artificial Intelligence
Accenture shares the benefits of supply chain visibility
It's clear that gaining better visibility into the supply chain will help organisations avoid excess costs, inefficiencies, and complexity to ultimately improve their bottom line.
WSLHD and PwC’s Consulting Business came together to solve through the challenges of COVID-19. A model of care was developed to the NSW Health Agency for Clinical Innovation guidelines with new technology platforms and an entirely new workforce.
Link image
Story image
Four factors to consider when choosing the right job accounting solution
Progressive job-based businesses can achieve success by strengthening their ability to quantify every cost attributable to the delivery of an outcome for a customer.
Supply chain
Discover the 4 critical priorities for wholesale distribution businesses in FY23. Are you worried about how supply chain issues may affect your business in 2023?
Link image
Story image
Document Management
NZ's FileInvite raises $10M in latest investment round
FileInvite has raised $10 million in Series A investment to fast-forward the extinction of email for requesting and collecting documents online.
Story image
How the metaverse will change the future of the supply chain
The metaverse is set to significantly change the way we live and work, so what problems can it solve in supply chain management?
Digital Transformation
Discover the 5 signs your business is ready for a cloud-based ERP. Is your business being left behind as more of your competitors switch to the cloud?
Link image
Story image
Enterprise Resource Planning / ERP
Five ways your ERP is letting you down and why it's time for a change
Wiise explains while moving to a new system may seem daunting, the truth is that legacy systems could be holding your business back.
Story image
Artificial Intelligence
Eight top DevSecOps trends to support IT innovation in 2022
The use of DevSecOps practices is growing, as it is increasingly seen as the best way to produce high-quality and secure code. So what are the current trends?
Project management
Discover the 4 crucial factors for choosing the right job-costing solution. Is your team struggling to cost jobs and keep projects running on budget?
Link image
Story image
Honeywell named Frankston facility services provider
Honeywell has been named the joint facility services provider for Frankston Hospital’s AU$1.1 billion redevelopment.
Story image
Artificial Intelligence
Decision Inc. partners with to expand offering
Decision Inc. Australia has partnered with to expand its offering to clients in the retail, FMCG, manufacturing, supply chain and logistics sectors.
Story image
Document Management
Regaining digital trust and enhancing digitisation in Australian Government agencies
Having a digitised ecosystem of documents, tools and data can help bolster security, improve workflow and ultimately create better services.
Story image
Four things wholesale distributors need to consider for FY2023
In a post-pandemic world, there are many things for a distribution business to juggle. ERP solutions company Wiise narrows down what companies should focus on.
PwC's Consulting Business and PwC's Indigenous Consulting are proud to play an important role in helping Australian Indigenous Mentoring Experience build IMAGI-NATION, a free online university for marginalised communities around the world.
Link image
Story image
Data Protection
Five signs your business is ready to move to the cloud
Many organisations are thinking about moving to the cloud. But what are the signs you are ready, and what are the reasons to move?
Story image
Thales on recruitment hunt for next disruptive innovations
"Recruiting new talent is part of Thales's belief in the power of innovation and technological progress to build a safer, greener and more inclusive world."
Story image
To win at 5G, telcos must tame their quoting chaos
The catalogs of CSP (communication service providers) market offerings are set to explode as new digital services emerge, powered by B2B2X business models.