Information is power for all business owners, and restaurant operators are no exception.
One of the most important — and beneficial — ways to leverage the power of information is to evaluate store performance using web-based reporting and apply that knowledge to enhancing operations. Here are four ways to get the job done:
1. Streamline kitchen inventory across multiple locations. Web-based restaurant reporting makes it possible to compare kitchen inventory quantities purchased with the amount of product used and items sold, as well as to quickly identify which locations are purchasing excessive quantities of ingredients. This will help your business decrease waste and fatten the bottom line. This also helps you easily determine purchase order quantities for ingredients, streamlining the order process and paving the way for volume-based discounts that can yield significant savings.
2. Optimize labor at each individual location. Web-based restaurant reporting also supports enhanced labor management for individual locations. Sales and guest traffic data, along with forecasts based on historic patterns, can help you determine individual restaurants’ staffing needs and create schedules accordingly. Furthermore, web-based restaurant reporting offers visibility into overtime and potential overtime at each unit, so that it may be addressed proactively and controlled before it has a negative impact on profits.
3. Evaluate targeted promotions built around loyalty demographics. With web-based restaurant reporting, operators can see how customer demographics and the behavior of loyal customers influence dining patterns and then plan targeted promotions. Reporting also allows you to evaluate the results of these promotions and make any necessary adjustments. For example, do data from web-based restaurant reporting tools indicate that many senior loyalty customers visit your restaurant during the morning hours? You could try a promotion targeting these customers offering coffee drinks or breakfast items and then use data to determine its effectiveness and analyze what you should change or repeat for the next campaign.
4. Troubleshoot any issues with the void report. Voiding checks and other transactions ranks among dishonest employees’ favorite activities, but monitoring data from web-based restaurant reporting can nip this type of behavior in the bud. Look through reports to determine the number of refunds being issued and how many checks are being cancelled. Compare refunds and voids that occur during different shifts to identify any patterns and whether particular employees have an unusually high level of refunds or voids. Once void-related issues have been identified using web-based restaurant reporting, troubleshoot them. For example, start requiring that employees obtain management approval before processing voids. Terminate any egregious offenders.
Managing a restaurant can be a 24/7 job, and web-based restaurant reporting tools make it possible to access mission-critical information from virtually anywhere, so you can manage your business remotely. With the ability to track sales, monitor employee logins and working hours, and evaluate the effectiveness of promotions, you can keep a close watch on your business regardless of where you are working.
Web-based restaurant reporting benefits the bottom line, greatly decreasing unnecessary inventory, labor expenditures, and employee-induced loss while increasing customer satisfaction and sales. The end-result: a more successful restaurant business all around.