Benefits of Restaurant Management Software to Boost Your Business Today
Opening a restaurant and serving delicious food to loyal customers is a dream of millions of people. Everyone wishes to have the repetitive visits of loyal customers. In order to turn this dream to reality, there is a great deal of sweat, blood, and tears that are behind the scenes. The restaurant manages all the major restaurant-keeping operations right from hiring and managing employees to bookkeeping and marketing campaigns.
Despite heavy efforts going into running the restaurant, many of the managers or owners tend to perform the tasks of accounting, tallying cash receipts, excel spreadsheets, and much more manually. This is not only inefficient but also introduces errors that can cost you money or lead to a breakdown in the workflow. In modern times, restaurant managers need to spend more time seeing the business instead of wasting time and energy on mistakes and errors.
Being an owner or manager, opt for the restaurant management software that has the potential to revolutionize the restaurant by making the work and employees more efficient and productive.
You might be confused regarding what restaurant management software is? In this article, we will discuss a few benefits of using restaurant management software for your restaurant to bring the best to your business.
Benefits of Restaurant Management Software
Wondering how to select the restaurant management software for your business? It majorly depends on the features you need the most. Below are a few of the benefits that may be advantageous to your business too.
Employee management and attendance
Running a restaurant is often a delicate activity and balancing is equally important. If required to coordinate the front-of-house employees such as hosts, servers, and bartenders with the back of houses such as line cooks, chefs, and dishwashers. In addition, the restaurant managers need to handle staffing concerns such as firing, hiring, training, and scheduling to ensure efficiency.
Even if you manage your employees effectively, you may not be able to retain them if you don’t pay them their wages accordingly and on time. Calculating the wages for servers is especially a challenging task as you have to deal with tips and taxes making them complex.
If you pay your servers too much or too little can cost your business money or lead to theft. By opting for the restaurant management platform including payroll functionality can avoid the risk of costly mistakes and paying the employees the right amount.
Finance and reporting
Payroll is one of the many accounting and finance challenges. You need to monitor the cash flow, keep operating costs low and keep the expenses maintained and make sure to set the best price points for the menu items.
The average profit margin usually lies between 2 and 6 percent. With minimal errors here, every possible optimization counts and every error counts against you.
Restaurant management software offers a variety of finance-related features reducing mistakes and helping you to balance the checkbook and close the book faster.
You can hire the best chefs and pay them a fair wage but none of this works if they are not able to cook meals. Inventory management is crucial for any restaurant to keep track of ingredients and supplying and ensuring enough on hand.
If you notice that you are running out of particular food ingredients, it can be due to a positive response of that item in the market or due to an inventory error. It can be known through the restaurant management software. This software gives you more visibility into the restaurant inventory and hence saves you from getting out of stock.
Ordering and billing
Behind every restaurant, there is a supply chain populated by third-party vendors and the suppliers providing the raw materials. Ordering and billing restaurant vendors and suppliers is a major concern in inventory management and are not less critical.
The best restaurant management software can process invoices and track the orders automatically, hence you don’t need to waste hours thinking regarding the no arrival of shipment. Many of these systems also integrate with your finance and POS and allows you to easily track the flow of money throughout the restaurant.
Unless you only deal in cash, you need a way to accept credit and debit cards. According to the survey, 68% of the dinner customers prefer to pay using cards at a sit-down restaurant while only 18% prefer cash.
The majority of customers include a built-in POS system to help make the payments smoother saving the costs of purchasing the separate device. Many of these systems accept mobile wallet payments like Google pay and Apple pay.
Customers remain highly worried about the security of their payment information while eating at restaurants. Always look for a payment processing system that is compliant with the PCI DSS set of standards to protect the confidentiality of customer’s personal and financial information. It includes chip card technology reducing 76% fraud.
Feedback and customer service
There is no shortage of platforms for the customers to express their thoughts regarding your restaurant such as Facebook, Google reviews, Twitter, Yelp, in-house surveys, and many more. Whether it is a review or complaint about any of your dishes or your services, customer feedback is critical to understand the performance of your business.
Feedback and customer service are essential sections of restaurant management, and hence a growing number of restaurants are using live feedback platforms. Such software captures real-time data that helps to build better customer relationships and change the menu according to demand and highlight the areas of improvement for employees.
These were a few of the benefits of using the restaurant management software to boost business activities. There are a lot more benefits of using it and hence it is suggested to use software to upgrade and manage the activities of your restaurant efficiently.