Restaurant managers wear a variety of hats throughout the day. From accounting to HR, to customer service and everything in between. Management within restaurants and the retail industry in general will find that they’re managing every aspect of their establishment in order to ensure a cohesive working environment. While the management personnel play a large role in this cohesion, the tools they use and give their employees are essential to building a framework for the management to work from.
Restaurant management software complements the management team in general and should be considered as necessary as the food itself!
One of the biggest obstacles for your management team when it comes to accounting is having a centralized location for all of your numbers. While some may first think of payroll or inventory when they think of accounting, there are in fact a multitude of areas within the restaurant that require some form of data and numerical management. Your restaurant management software is responsible for:
- Centralizing your POS information
- Tracking sales and labor figures
- Collecting information and data on food costs
Once you’ve localized your data into a singular management system, then it’s easier to pinpoint areas of contention. Restaurants are notorious for working on a slim margin of profit, and errors in finances can quickly chip away at that small margin until you’re left wondering how you ended up with a money pit instead of a money-maker. When the numbers don’t add up, your restaurant management software can highlight discrepancies to ensure that you’re:
- Getting charged appropriately by vendors
- Not having lost product due to theft
- Cutting costs in all the right places
You may be thinking to yourself, ‘But I can do all of this work on my own,’ and you may be right, But the fact of the matter is that managers typically don’t have time to waste collecting all of this data by hand to analyze for discrepancies.
Save time with an automated software system that tracks invoices, payments, and payroll to ensure that your data is tracked for taxing and record purposes.
Another added benefit to restaurant management software is that it can be made accessible to those who need it most, such as employees who may be tasked with taking inventory. Their data collection and analysis can help your restaurant digitally track inventory and keep the records all in one location for further use with analytics and financial tracking. Track waste between stores quickly with a centralized software system.
You can even take inter-store data analytics a step further by comparing profitability with the data collected! With one restaurant management software system utilized in each of your locations, you can use the same comparative categories for analyzing profits across locations.
Which stores are earning the most money? Quickly find the answer, and spend more time analyzing the reasons why rather than manually entering the data. The ultimate goal is increased profitability, and the best way to track data and improve on profits is through the use of restaurant management software.