SpotOn Partners With MarginEdge on Inventory

MarginEdge, a restaurant management platform, has been selected by restaurant software and payment provider SpotOn as an inventory management partner, the platform announced Tuesday (April 12).

According to the release, the partnership will further SpotOn’s goal of making more restaurant tech and becoming a “one-stop shop” for that type of technology.

SpotOn has been focused on providing software and payments tech to smaller companies, emphasizing restaurants in particular, letting them take payments, optimize schedules and more. The company also debuted its “Points of Profit” to show how integrated tech can help restaurants get their profit margins from inflation, breaking out of plateauing profit margins.

MarginEdge’s partnership will add more insight to support restaurants with both front-of-house and back-0f-house data, per the release.

“Our restaurant clients continue to face pandemic effects on their business including staffing shortages, supply chain issues and rising costs of operations,” said Ben Pryor, director of innovation at SpotOn. “We’re excited to bring our restaurant clients a truly holistic, full suite of tools to better manage their back of house operations, tackling rising costs, and gaining crucial time back thanks to MarginEdge’s data reporting and automation.”

PYMNTS wrote that SpotOn provides services for around 56% of the ballparks in Major League Baseball, in addition to various other sectors.

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The report noted that running a big business operation means having systems that support contactless pay, are flexible and scalable, can maximize productivity and can handle various kinds of sales.

“When we think about stadiums, we think about the opportunity that will create around the areas as well,” SpotOn Chief Financial Officer Lisa Banks told PYMNTS. “Maybe a restaurant says, ‘If the stadium can use it, this would work well for us too.’”

The report also noted that businesses need better reporting to get more visibility, which Banks said was crucial to making real-time decisions.