Recipe for Success: Strengthen Customer Loyalty and Lower TCO With Data-Driven Asset Management

Navigating restaurant operations requires more than just a flair for flavor; it demands smart management of the resources that keep the kitchen running smoothly. The recipe for success involves a blend of customer satisfaction and cost control, and the most surprising ingredient might just be the assets themselves — or rather, the data they’re serving up.

Here’s how data-driven asset management can help you strengthen customer loyalty and lower your total cost of ownership (TCO).

Serving Up a Consistent Customer Experience

When a customer visits one of your locations, it’s important that they have a positive experience. It’s what keeps them coming back. And they expect this same high-quality experience not just at that one location, but at every location they visit.

To preserve your brand and build loyalty, you need data-driven asset management.

Think of it like this: Imagine that your HVAC system breaks down unexpectedly, and the temperature at your location becomes uncomfortable as you and your team scramble to fix the problem. Or maybe your oven or fryer suddenly goes on the fritz, and your staff has to turn down customers’ orders or ask them to wait longer than normal for service.

Managing your assets using relevant data could have prevented these problems in the first place, preserving the environment and level of service your customers expect. If you track your HVAC system’s age, efficiency, downtime, and repair history, for example, you can proactively schedule routine maintenance at the right times to keep the system up and running without disruption. Such information can also help you determine if and when to replace aging or inefficient assets. Data is the one way to objectively reveal if your food service equipment has frequently been down for repairs for extended periods, indicating it may be too costly to maintain and no longer adding value to your business. Armed with that information, you can make an informed and proactive decision to replace the equipment before it causes a serious disruption to your operations.

Provider data is another important piece of asset management. To maintain your equipment’s uptime, you need to work with providers you trust who have the data to back up their performance. The same goes for reactive maintenance: If an asset does go down while your business is operating, you need to be able to fix it quickly and seamlessly — and that calls for a vetted provider.

Preventing Costly Kitchen Crashes

Surprise equipment failures and resulting downtime eat into a location’s bottom line. The good news is that such emergencies are largely avoidable, assuming you have the right information at your fingertips.

Asset data is once again a valuable tool here because it gives you visibility into your equipment’s performance and condition. When you have that information, you can plan preventive maintenance to keep your equipment operating efficiently — minimizing disruptions and costly breakdowns — and determine whether to replace or repair a failing asset. Just as importantly, you can make those decisions proactively instead of reactively, baking them into your capital planning and consequently reducing unexpected spend. Less equipment downtime and a data-driven repair, maintain, and replace strategy translate to a lower total cost of ownership.

Plan for Peak Performance

Data-driven asset management has clear benefits, but it’s “not always given the attention it deserves,” says Deb Millette, director of solution consulting at ServiceChannel. Operations leaders recognize that well-maintained assets can impact the customer experience positively, she notes, but “the challenge often lies in the lack of accessible and actionable data. Without the right data, making informed decisions about asset management can be difficult.”

Gathering — and then using — relevant data is key. ServiceChannel can help you develop and implement a strategy for doing just that.

“This strategy will not only streamline operations but also lead to significant cost savings,” Millette says. “By investing in asset management, you’ll have a clear understanding of the condition, financial value, and maintenance requirements of each asset. This information is critical in making informed decisions about asset repair, replacement, and maintenance scheduling, which can greatly reduce unnecessary costs.”

Are you ready to learn more about the benefits of data-driven asset management? Learn how ServiceChannel can help with planning, implementation, and optimization.