GoTab, a prominent player in hospitality commerce, has introduced its new Pricing Rules Engine, an advanced tool aimed at revolutionising how hospitality operators manage their menus and interact with customers. This innovation allows operators to make real-time modifications to menu pricing, automate service charges, and apply discounts, thereby enhancing pricing transparency and operational efficiency for establishments such as restaurants and bars.

Unveiled at a pivotal time, the Pricing Rules Engine addresses rising consumer expectations and regulatory compliance, particularly with Minnesota’s recently enacted price transparency law. This legislation mandates that service charges must be incorporated into the displayed menu prices, shifting traditional practices in hospitality settings. According to Daryoush Mansouri, Chief Technology Officer at GoTab, “We’re thrilled to introduce this powerful tool to GoTab’s suite of features... Our goal is to make pricing management as seamless as possible for operators while enhancing the guest experience.”

The Pricing Rules Engine boasts several key functionalities that position it as a significant asset for hospitality operators. These include:

  • Customizable Pricing Adjustments: Operators can implement pricing rules tailored to specific products, categories, or times of day, accommodating promotional actions like happy hour specials or seasonal pricing changes.

  • Automated Service Charges: This functionality allows operators to integrate service charges directly into menu prices, minimizing visible additional charges. For instance, a cheese curd item priced at $14 could reflect a 20% service charge, culminating in a total of $16.80 presented to customers without an added line item.

  • Flexible Pricing Adjustments: Operators can easily adjust pricing based on percentage or fixed amounts, and can even round prices to more appealing figures, simplifying the overall pricing strategy.

  • Discounts and Promotions: The engine seamlessly applies discounts to prices, ensuring customers see special offers directly on the menu, thus promoting transparency.

  • Compliance with Minnesota’s Price Transparency Law: The tool is specifically designed to assist operators in Minnesota adhere to the new law effective January 1, 2025, which requires that all service fees are included in the displayed prices.

This new engine promises to enhance price transparency during every transaction. Customers will receive clear information regarding applicable fees via customer-facing devices and printed receipts, eliminating any potential surprises at the point of payment. This ensures that GoTab’s operator partners can enhance their pricing strategies while maintaining regulatory compliance, particularly in Minnesota.

As GoTab approaches the year 2025, the company reflects on a successful year marked by its recognition as one of the fastest-growing companies in North America, having secured the 448th position on the Deloitte Technology Fast 500™ with a 238% increase in year-over-year revenue. Additionally, its point-of-sale (POS) system garnered multiple accolades from Gartner Digital Markets, illustrating GoTab’s commitment to providing superior solutions within the hospitality sector.

With its continued innovation, GoTab remains focused on equipping operators with vital tools to streamline operations, elevate guest experience, and compete in the dynamic hospitality environment. The company processes over $500 million annually in gross merchandise value and operates across 39 U.S. states alongside Canada, cementing its reputation among a diverse clientele, including restaurants, breweries, and larger venues.

For further insights into GoTab’s new pricing rules engine and its broader offerings, additional details can be found through their official website.

Source: Noah Wire Services