Explorex: Revolutionizing Restaurant Operations with Innovative Technology Solutions

CXOToday has engaged in an exclusive interview with Mainak Sarkar, co-founder, Explorex

1 Tell us about explorex and how did you come up with the idea of providing digital solutions to restaurants and their end users ? 

Before launching Explorex, we founded Eatable, aiming to enhance the restaurant dining experience. Unfortunately, the pandemic forced us to shut down Eatable, but it provided us with critical industry insights.

Explorex’s vision is to revolutionize the restaurant industry by democratizing access to cutting-edge technology. We aim to boost operational efficiency, financial performance, and revenue growth.

As a forward-thinking SaaS-Fintech Hybrid firm, we’re reshaping restaurant operations and becoming an industry leader by delivering tools that optimize business management and redefine operational practices.Our core goal has always been to democratize technology in the hospitality sector.

Eatable, our first startup, focused on scannable digital menus, even before the pandemic. Post-pandemic, the restaurant industry rapidly adopted digitalization, leading to substantial growth. We achieved a remarkable 115% increase in Gross Merchandise Value (GMV) processed between February 23 and July 23. Explorex is leading the restaurant industry into a new era of digital excellence.

2 What is the new technology you provide to simplify the dining process? 

In the contemporary business world, entrepreneurs and business owners face a significant challenge: the absence of a dedicated and comprehensive cloud-based software solution. This gap is a substantial problem because existing options in the market often lack the user-friendly simplicity and adaptable modularity required for seamless integration with various services.

This situation leaves restaurant owners frustrated as they struggle with the inefficiency of managing multiple isolated systems that don’t effectively communicate with one another.

We introduced “Bridge” by Explorex, our solution to these pressing issues. We’ve developed an all-encompassing ecosystem that takes on these challenges head-on. Our innovative system, “Bridge,” seamlessly covers a wide range of crucial functions, including order management, operational oversight, online delivery coordination, secure payment processing, in-depth reporting and analytics, guest identification, and strategic re-engagement approaches.

What sets Explorex apart is its unifying capability, consolidating all these critical functions within a single, user-friendly platform. This comprehensive approach not only simplifies restaurant operations but also empowers businesses to operate more efficiently and effectively in today’s competitive landscape. Explorex is committed to delivering the convenience and integration that restaurant owners have been seeking.

3 How does Explorex help to reduce the down time and increase overall catering efficiency? 

In the restaurant industry, prioritizing customer satisfaction and retention is paramount, and Explorex is fully committed to achieving this objective through innovative technology solutions. Our robust and automated restaurant management platform has delivered impressive results, with a remarkable 40% reduction in table turnaround times. This optimization has led to more frequent serving rounds, resulting in a significant uptick in overall restaurant revenue. Moreover, our software ensures a seamless and efficient ordering process, contributing to a substantial 30% increase in the average ticket size by boosting the average number of orders per table.

Additionally, our technology streamlines the ordering process and simplifies customer assistance requests, leading to a remarkable improvement in guest experience and satisfaction, as reported by restaurant owners.

Beyond enhancing the customer experience, our fully automated and integrated solution has had a profound impact on restaurant staff productivity, effectively doubling their efficiency. This increased efficiency empowers staff to engage in value-added activities such as upselling and providing exceptional service.

Explorex offers a comprehensive suite of features, including automatic table settlement with integrated payment solutions, easy menu pricing updates, and customer-initiated calls for steward assistance, all conveniently accessible through a user-friendly interface. Our tech-driven approach revolutionizes restaurant management, ensuring enhanced customer satisfaction, increased revenue, and improved staff productivity.

4 The industry is continuously embracing technology, with Food Tech and restaurant technology being among the most prominent trends at present. Share your thoughts on the implementation of technology in these areas and how restaurants can utilise automation to enhance customer loyalty.

The restaurant industry is rapidly adopting technology, with FoodTech at the forefront of advancements in food preservation, quality control, and product development. Simultaneously, the restaurant business is evolving to meet changing consumer preferences and growing competition.

To thrive in this dynamic landscape, we’ve embraced marketing automation. This technology enables restaurants to deliver personalized experiences, automate tasks, and gain insights for informed decisions. This empowers restaurant owners to optimize resources and focus on exceptional dining experiences, fostering lasting customer relationships and loyalty.

5 How does the Multiple management technology for restaurants work? 

Our full stack operating system allows the restaurant owners to connect and access multiple machines on the same software.The central software allows these machines to communicate with each other in real-time. This software can include point-of-sale (POS) systems, inventory management, order processing, reservations, and more. 

Multiple management technology also includes features for tracking inventory levels. When an item is sold, it updates the inventory database across all connected machines. This ensures that staff members are aware of stock levels and can reorder supplies when necessary. It also facilitates remote access to the managers or owners of the restaurant. 

Our technology enhances efficiency, reduces errors, and provides valuable insights for restaurant owners and managers to make informed decisions.

6  What are the specific technology benefits that the partner restaurants can expect from Explorex? 

Explorex’s “Bridge” is a groundbreaking solution that ensures a seamless experience for all restaurant stakeholders, from owners and chefs to stewards and diners. Our dynamic platform empowers restaurant proprietors to analyze and optimize operations for sustainable growth.

Our comprehensive suite of tools includes a Digital Menu, Automated Ordering, Integrated POS/mPOS, Integrated Payment Solutions, Inventory Management, Analytics, Report Generation, Third-Party Delivery Integration, and Customer Retention tools. These components collectively streamline food chain operations.

Our holistic approach covers online menu management, order placement, POS/mPOS systems, contactless payments, and efficient inventory management. With our technology, restaurant owners can entrust us with the intricacies of their business, allowing them to focus on delivering exceptional culinary experiences to their valued patrons.

7 What gives Explorex an edge over the other SaaS providers in the market?

What sets us apart in the increasingly competitive landscape of tech companies entering the restaurant industry is our unwavering commitment to our well-established business strategy. This strategy is carefully designed to provide both the smallest and largest companies in the industry with access to the essential resources required for their expansion and operational maintenance.

At Explorex, we employ an ecosystem approach that encompasses all the necessary tools for running a restaurant seamlessly. Furthermore, our partner restaurants can effortlessly cater to both on-site and off-site customers through a single dashboard, facilitating both dine-in and takeaway orders. This dashboard offers comprehensive access to restaurant data and information on any device, streamlining the process of tracking the restaurant’s progress. This particular feature significantly enhances overall efficiency and restaurant revenue while eliminating operational challenges.

From setting up your kitchen to onboarding employees and managing inventory, Explorex offers a comprehensive solution that covers every aspect of restaurant management. By harnessing the power of technology, we demonstrate to restaurateurs how they can entrust us with the intricacies of their business operations, allowing them to focus on their core expertise: delivering exceptional culinary experiences to their valued customers.

Our relentless commitment to developing viable solutions for the operational challenges faced by our partners is what makes Explorex the preferred choice for brands compared to other companies in the market.

8 Tell us about your growth so far and the future plans? 

In 2020, my co-founder and I established Explorex with just five restaurant partners, and during the initial stages, we primarily operated from our homes. While our headquarters were situated in Bangalore, we also had a significant presence in several other cities, including Delhi, Kolkata, and Mumbai.

Fast forward to March 2023, Explorex has experienced substantial growth, with over 1000 restaurant partners across 15+ cities in India. Additionally, we successfully secured USD 6.5 million in funding through pre-seed and seed rounds. These funds will be utilized for product development and expanding our offerings across India. To enhance our competitive edge and bolster our market position, we are focused on increasing payment volumes and implementing a consistent acquisition strategy. Impressively, within just nine months of initiating payments, Explorex processed more than INR 70 crore in the previous year. This year, our target is to process at least INR 500 crore.

With a team of over 80 employees, we have relocated to a larger, state-of-the-art office facility, and our total Gross Merchandise Value (GMV) has surged by over 115% from February 23 to July 23.

9 What does Technology and SaaS space look like in the hospitality segment in the near future ?

The future of SaaS and technology in the restaurant industry will revolve around enhancing operational efficiency, improving the customer experience, harnessing data for better decision-making, and embracing sustainability. These advancements will shape a more tech-savvy and customer-centric dining landscape.

The future of Software as a Service (SaaS) and technology in the restaurant industry is poised for significant growth and transformation. Some key points to consider are Streamlined Operations, Customer Experience, Data-Driven Insights:

Contactless and Convenience, Sustainability, Kitchen Automation, Automation in the kitchen, such as robotic chefs and AI-powered cooking equipment, will improve consistency and speed in food preparation.