Latest news with #restaurantmanagement
Wamda
8 hours ago
- Business
- Wamda
Kamco Invest acquires a stake in Foodics
Saudi Arabia-based foodtech Foodics has raised an undisclosed investment from Kuwait's Kamco Invest for an unspecified stake. Founded in 2014 by Ahmad AlZaini and Mosab Al-Othmani, FOODICS offers a point of sale (POS) and restaurant management platform and payment that caters to F&B establishments, from traditional dine-in restaurants and food trucks to cloud kitchens. Since its founding, the company has processed over five billion orders through its platform. The investment follows Foodics' $170 million Series C round led by Prosus and Sanabil in 2022. Foodics is expected to go public on Tadawul within 2–3 years. Press release: Kamco Invest, a leading regional non-banking financial powerhouse, has announced that its private equity division has acquired a stake in Foodics, one of the MENA region's fastest-growing cloud-based restaurant technology and payments platforms. Founded in 2014, Foodics currently supports over 33,000 restaurants, enabling an annual gross merchandise value (GMV) exceeding $10 billion in 2024. The platform provides restaurant operators with an integrated solution for managing orders, operations, finances, and access to capital—all from a single interface. This investment, which closed in Q4 2024, complements Kamco Invest's broader strategy to provide its clients with exposure to high-growth, tech-enabled businesses in the MENA region—especially those targeting IPOs in local markets. With a strong market position in Saudi Arabia, Foodics is poised for a public listing on Tadawul within 2–3 years. The company's latest funding round of $170 million was led by Prosus and Sanabil Investments (a PIF-owned fund), with participation from Sequoia Capital India, STV, Raed Ventures, Endeavor Catalyst, and others. Dalal J. Al Shaya, Director of Private Equity at Kamco Invest, commented, "We are proud to back a regional tech champion like Foodics. Its scale, innovation, and strong investor base signal an exciting growth trajectory. This investment aligns with Kamco Invest's commitment to enabling long-term value creation and expanding our tech investment footprint in the Gulf region.'
Yahoo
23-07-2025
- Business
- Yahoo
MarginEdge and FIXE to improve accounting processes for restaurants
MarginEdge, a platform focused on restaurant management and bill payment, has partnered with FIXE, a bookkeeping and accounting service for restaurants. Clients of FIXE will migrate to the MarginEdge platform, which offers features such as automation, AI-driven forecasting, daily financial insights and improved reporting functionalities. MarginEdge has been selected as FIXE's preferred system for restaurant management, particularly for invoice processing, inventory management, recipe management and food-costing. MarginEdge co-founder and CEO Bo Davis stated: 'Running a restaurant without real-time visibility is like driving a car without a dashboard. By the time you hear the engine rattling, it's already too late. 'FIXE shares our belief that technology shouldn't add complexity to daily operations – it should remove it. Together, we're giving restaurant operators and accountants the kind of clear, daily insights they need to make smarter, faster decisions.' Both companies anticipate that clients will notice a 'meaningful drop' in the time taken to process invoices within the initial 30 days following the transition. The automatic onboarding of FIXE clients onto the MarginEdge platform will ensure continuity of service and create a unified solution that reduces data silos for improved operational efficiency. FIXE clients will also gain access to AI-enhanced tools from both platforms, allowing for increased flexibility in automation processes. Operators will no longer need to manually sort vendor invoices, as accurate data will be transmitted directly from MarginEdge to FIXE's accounting team. This collaboration marks a notable development in MarginEdge's Accounting Partnership Program, which encompasses companies throughout the US. FIXE CEO Ryan Handel stated: 'We saw too many clients struggling with clunky tools that created more work than they solved. 'When we saw how seamlessly MarginEdge worked alongside FIXE, it was clear we could offer something better. This partnership combines financial rigou with operational ease — helping operators stay compliant, profitable and focused on the bigger picture.' "MarginEdge and FIXE to improve accounting processes for restaurants" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
08-07-2025
- Business
- Yahoo
Yum China Pilots AI Assistant for Restaurant Management
Yum China Holdings Inc. (NYSE:YUMC) is one of the most undervalued large cap stocks to buy according to analysts. On June 20, Yum China commenced a pilot program for Q-Smart, which is an AI-enabled assistant designed for enhanced restaurant management. The tool is currently undergoing trials at select KFC outlets. Q-Smart offers support for daily operational tasks, like inventory management and labor scheduling. The system uses natural language processing to enable direct voice commands and facilitates hands-free interactions through wearable devices like wireless earphones and smartwatches. The iconic yellow and red roof of a franchise restaurant in the bustling streets of a city. The Q-Smart launch was unveiled at Yum China's first-ever AI Day event in Shanghai on the said date. During the event, the CEO of the company, Joey Wat, announced the establishment of a 100 million yuan (~$13.9 million) Frontline Innovation Fund, which aims to support frontline restaurant employees and fuel technological innovation, like making the 'All-Staff Hackathon,' launched in March this year with ~200 participating teams. Yum China Holdings Inc. (NYSE:YUMC) owns, operates, and franchises restaurants in China. While we acknowledge the potential of YUMC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Associated Press
20-06-2025
- Business
- Associated Press
Yum China launches AI assistant for store managers, a groundbreaking advance in its tech-driven growth strategy
'Q-Smart' assistant will provide restaurant managers with broad-based support for day-to-day restaurant operations, allowing them to enhance their focus on delivering excellent customer service SHANGHAI, June 20, 2025 /PRNewswire/ -- Yum China Holdings, Inc. (NYSE: YUMC and HKEX: 9987, 'Yum China' or the 'Company') today announced the pilot launch of 'Q-Smart', a new hands-free AI-enabled assistant for restaurant managers. Q-Smart helps frontline managers effectively and efficiently manage a wide range of day-to-day tasks, such as labor scheduling, inventory management, and food quality and safety inspection – providing intelligent support for decision-making across a broad spectrum of restaurant operations. Q-Smart allows managers to interact with the system hands-free using wearable devices such as wireless earphones and smart watches, enhancing operational efficiencies. This is different from traditional restaurant systems where employees often rely on touch screens or PCs to complete tasks, which occupy their hands. Using natural language, Q-Smart can interact directly with restaurant managers to help them better manage operational tasks throughout the day. For example, Q-Smart continuously monitors a restaurant's inventory and compares it with upcoming sales forecasting, reminding managers to make timely ordering and replenishment decisions that can help the store to optimize inventory use. Q-Smart can understand and respond to managers' voice commands, helping them to quickly and accurately conduct hands-free equipment inspections and inventory counts. At the same time, drawing from Yum China's extensive knowledge base, the system can provide real-time support and solutions for managers to effectively handle urgent operational issues. Having passed the initial development and testing phase, Q-Smart is now being piloted at select KFC stores. Following this pilot phase, further user feedback will be incorporated, paving the way for a larger-scale rollout in the future. Leila Zhang, Chief Technology Officer, Yum China commented: 'Q-Smart is not just an AI tool —it is a potential game-changer for how restaurants can be managed. We believe that Q-Smart will not only help Yum China improve its operational efficiency, but can also serve as an example for the digital transformation and smart development of the catering industry.' The launch of Q-Smart marks a significant milestone in Yum China's end-to-end digitalization journey over the past decade. KFC China first enabled customers to pay digitally as early as 2015, followed by the launch of KFC's Super App in early 2016. As of March 2025, Yum China's digital loyalty program membership (for KFC and Pizza Hut) exceeded 540 million members. Yum China was also one of the earliest companies in China to launch an enterprise cloud platform. Its platform, Yum China Cloud, supports agile iterations of systems and products with a high server stability rate, helping ensure a seamless user experience online. Yum China began integrating AI-assisted store management and scheduling tools as early as 2019. In 2021, Yum China rolled out its comprehensive AI-powered 'Super Brain' tool, leveraging operational data from Yum China's store network to aid store managers' decision-making. In 2022, the Company introduced handheld Pocket Managers, allowing managers to track operational metrics in real-time. Yum China began exploring applications for Generative AI (AIGC) in its systems in 2023; and by 2024, the Company began integrating AIGC into various business scenarios, including logistics and supply chain, customer service, and various back-office functions. Q-Smart was officially launched at Yum China's first-ever AI Day event held on June 20 in Shanghai. The day culminated with the announcement of winners of the Company's inaugural 'All-Staff Hackathon', an initiative launched in March 2025 to encourage Yum China employees to develop technology-based solutions to address business problems and pain points, which drew participation from nearly 200 teams in roughly 30 markets across the country. At the AI Day opening ceremony, Yum China CEO Joey Wat announced the establishment of a 100 million yuan (US$13.9 million) Frontline Innovation Fund to provide a variety of new resources to further support frontline restaurant employees. The Fund will further bolster the Company's homegrown innovation in technology applications, including making the All-Staff Hackathon a regular annual event. Wat remarked: 'Yum China has always believed that true innovation must originate from frontline needs and serve frontline scenarios. AI is not only a technical tool to improve efficiency, but also a core partner to stimulate employee creativity.' Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as 'expect,' 'expectation,' 'believe,' 'anticipate,' 'may,' 'could,' 'intend,' 'belief,' 'plan,' 'estimate,' 'target,' 'predict,' 'project,' 'likely,' 'will,' 'continue,' 'should,' 'forecast,' 'outlook,' 'commit' or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results or events to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved. The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. Numerous factors could cause our actual results or events to differ materially from those expressed or implied by forward-looking statements. In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q) for additional detail about factors that could affect our financial and other results. About Yum China Holdings, Inc. Yum China is the largest restaurant company in China with a mission to make every life taste beautiful. The Company operates over 16,000 restaurants under six brands across over 2,300 cities in China. KFC and Pizza Hut are the leading brands in the quick-service and casual dining restaurant spaces in China, respectively. In addition, Yum China has partnered with Lavazza to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine. Taco Bell offers innovative Mexican-inspired food. Yum China has a world-class, digitalized supply chain, which includes an extensive network of logistics centers nationwide and an in-house supply chain management system. Its strong digital capabilities and loyalty program enable the Company to reach customers faster and serve them better. Yum China is a Fortune 500 company with the vision to be the world's most innovative pioneer in the restaurant industry. For more information, please visit View original content: SOURCE Yum China Holdings, Inc.
Yahoo
25-05-2025
- Business
- Yahoo
The 1 Thing You Should Always Do After Signing A Restaurant Receipt
If you have ever dined out, you know the drill. After your delicious drink or meal, you're likely going to get two receipts of your bill from your server: a merchant and a customer copy. Sometimes, a merchant copy will be the only receipt with a line for a signature, but often there is no distinct difference in the agreements between the two versions. So what happens if you accidentally sign the customer copy instead of the restaurant copy? Restaurant workers and fraud experts weighed in. Alicia Perry, a San Diego-based beverage director, said it can depend on the exact policies of the restaurant or establishment, from what she's experienced in the industry. 'It's not something that we traditionally worry about or are concerned about, just as long as there's a signed copy,' she said. 'So that way, we can ensure that whoever chooses or hopes to dispute it, that they've essentially signed whatever they have marked on that side of the receipt.' Gabriella Zottola, a Waltham, Massachusetts-based restaurant manager, agreed and said that leaving behind a signed customer copy is not a big deal. 'As long as the tip is clearly written on it, we're good!' she said. Zottola noted that if a customer copy is left behind, her practice is to 'toss them.' Perry echoed this sentiment, saying, 'If the guest isn't there, then we just throw [the customer copy] away to make sure that it's not tampered with.' As technology makes paper receipts increasingly obsolete, consider that this is less of an issue nowadays. Perry said that whether or not you sign the merchant copy is 'largely a moot point because of digital payments like Toast; however, it's totally fine to sign the customer copy. Nothing will happen.' Bill Whitlow, a Covington, Kentucky-based restaurant operator, said that a bigger issue is when a customer signs the merchant copy and then accidentally takes it home, so that all that is left behind is a blank customer copy. The restaurants are then left to figure out what the tip was meant to be. In these scenarios, what happens next depends on the restaurant's policy. Whitlow said in the restaurants he was raised in, staffers would work off of the indentation of the tip left behind if it was clearly visible. 'Ninety-nine percent of the time the copies are on top of each other. So you could clearly see the [indentation] of what they wrote on the other stack. And you'd go with that,' he said. But in some cases, restaurant staffers can be left with no tip at all if it's not written down on a receipt. Whitlow recalled that when he worked at a restaurant in Miami's South Beach, if the customer 'had taken the wrong copy, I wasn't going to get tipped on [a] South Beach $200-$300 check ... I definitely ran a few people down.' For Perry, the signature is key. She said that if a patron fills out a tip for a guest copy of the receipt, but then doesn't sign it, it can leave some staffers in restaurants out of a tip. In some places she's worked at, 'I wouldn't be able to enter that information,' she said. 'I can't really process a tip. Of course, I can process payment.' Even though it may not matter for getting charged, you should still take home customer copies of receipts. Amy Nofziger, director of victim support at AARP Fraud Watch Network, said that in general, for any clothing, grocery store or restaurant purchase, it's a good practice to keep your receipts until the charge processes on your credit card. That way, you can validate 'that what you think you were charged is what was actually charged to your credit card. And then once you see that it is matching up, then you can dispose of that receipt,' she said. Nofziger recalled how having the customer copy of a bill has helped her dispute an incorrect tip amount. Without the customer copy, you can dispute the incorrect charge, 'but again, having that copy, I think is just more proof,' she said. Nofziger also recommends knowing your last few credit card numbers, so that you can quickly notice if information is not lining up. 'We need to get into the habit of looking to see where our personal information is,' she said. 'If you do look at a receipt, there usually will be the last four digits of your credit card number and then everything else is etched out.' Whitlow said that if you do see a discrepancy, you should try calling the restaurant first to get it fixed, because it can be costly for restaurants. 'If you see something wrong on your credit card statement ... it's probably just a legitimate mistake,' he advised. 'We've had a problem where like someone would say had a $100 check, and they put a $25 tip, and somebody accidentally put that as a $35 tip.' 'And instead of calling the restaurant to have it fixed ... they dispute it,' he continued. Whitlow said that this can result in having the bank charge back the entire amount, along with a fee, instead of just the tip amount. 'The restaurant loses the tip that they already gave the server, the whole check, and also has to pay us like a $35 fee for a chargeback,' he said. And if you want to be a good customer, check your math, restaurant workers advised. Whitlow said that it's a common mistake for the tip amount to not match up with the total amount. In these cases, he's been taught to go with what's on the tip line, because, 'People will write what they want, you can't always expect them to do proper math.' Zottola agreed and said in these scenarios, 'We end up doing the math for them and still putting in the correct total from the tip they write.' But Perry said that it can sometimes be a 'null and void situation' when the tip amount does not line up with the final amount, 'because we can't assume that the individual is wanting to pay one or the other, especially if they don't add up.' In other words, what you do and don't write and sign at the bottom of receipts really does matter. That extra diligence of writing legibly and double-checking your math may take you a few more minutes, but it can save you ― and restaurant staffers ― great peace of mind. Is It Selfish To Make An Elaborate Coffee Drink Order? 7 Things I Won't Do After Working As A Restaurant Host Here's What You Should Be Tipping On Food Delivery Apps During Extreme Weather
