While investing in elements such as marketing and décor will go a long way in advancing the growth of a restaurant, investing in the right technology also plays a huge role, with restaurant management software being among the “must haves”. Every restaurant out there, whether small, medium-sized, or large, will benefit greatly by switching from manual restaurant management processes to automated or software-based ones.
Here are some of the reasons why restaurant management software is a “must have” for every restaurant that intends to improve its bottom line, and why every restaurant owner or manager reading this should consider implementing one as soon as possible:
1. Workforce Management
Traditionally, employee or workforce management systems consisted of Excel spreadsheets, paper schedules, printed contracts, paper-based timesheets and so on. Today, these manual ways of managing employees are no longer as effective as they once were. They have instead become time-consuming and extremely troublesome.
Online or web-based employee management systems, on the other hand, have become the ideal solutions since they are a 100 times more efficient. This is because they automate the entire spectrum of employee scheduling and other HR processes.
These systems have the capability to store all kinds of employee data including contact details, contracts and pay slips, therefore minimizing paperwork, printouts, unorganized folders, and extensive storage areas.
In addition to all that, restaurant management software enables employees to update their availability, make time off requests, book and swap shifts and access their schedules, among many other processes that contribute to a successful scheduling and communication process.
2. Inventory Control
Inventory is usually the 2nd major expense a restaurant incurs. All restaurants out there will therefore benefit hugely from a system that can effectively control inventory, such as restaurant management software. When a restaurant is able to get a proper overview of its stock, it can easily predict the amount of food it needs to purchase and how much it needs to prepare to avoid tossing much, if any, into the waste bin. It is only by identifying and adapting to its spending habits that a restaurant can avoid wastage– and thus save money. This is exactly what quality restaurant management software can help a restaurant to achieve. However, not all restaurant management software in the market today come with this function but it is relatively easy to acquire one that does.
3. Tracking of Sales
Many restaurants, especially the most established ones, handle high volumes of cash and credit cards on a daily basis. Restaurant management software, unlike the traditional cash register, tracks all sales down to the last penny. This way, restaurant owners and managers are able to identify the most popular items on the menu, and in the same way, the least desired items. With this kind of insight, they can adjust the menu accordingly.
4. Credit and Debit Card Processing
Most restaurant management software will also take care of credit and debit card processing easily and effectively, therefore doing away with the need for a separate system. With restaurant management software of good reputation, credit and debit card processing not only get easier, it gets quicker and more secure for all involved.
5. Preparation of Financial Statements
Restaurant management software simplifies the process of financial statement preparation, such as profit and loss statements, tax statements, and so on. With such a feature, all the necessary figures can be accessed instantly through the system, and this as expected will save lots of time and effort.
6. Point of Sale Security
Restaurant management software enhances or increases security at the point of sale. This simply means that with such as system already in place, servers will always be accountable for their sales because without a password it would be impossible for them to mess with customer checks. This not only helps curb employee theft, but it also stops employees from giving unauthorized discounts to family and friends.
7. Off-site Control
Restaurant management software also has the capability to enable off-site loggings via an internet connection. This means that as a restaurant owner or manager, you will be able to monitor inventory usage, labor patterns, sales, and other crucial processes remotely or from a distance. This will allow you to identify and address problems quickly even when you are not in the vicinity.
These are just a few benefits that quality restaurant management software can bring into your restaurant, but all in all, you can expect your bottom line to improve by implementing such a system.