Using Technology To Optimize Business Performance

As an operator, you’ve got plenty of challenges to overcome to run a profitable business. Technology can be deployed in a number of ways to help support your business goals and streamline your processes. Here are a couple of tangible steps you can take today to help improve your bottom-line.

  1. Engineer your recipes and menus.

What this means: Recipe and menu engineering is the process of creating a collection of recipes to form a menu for your business, while accounting for potential costs, waste, sales and profitability.

How it can help: Automating the menu and recipe creation process and moving it from spreadsheets to a menu engineering tool gives you the insight you need to price your menus and plan your portion sizes, margins, costs and purchasing strategy in advance. The right solution will assist in crafting menus and recipes that are highly popular with your customers and make business sense. It will help you:

  • Ensure menu profitability – Gaining an understanding of which items are your best sellers and learning which items give you the most profit help you gain total margin control. You’ll be able to examine menu performance and identify areas where savings and improvements can be made.
  • See the impact of changing ingredients – With the appropriate system, your chefs will be able to see how different options will affect the cost to create dishes, and the margins that can be achieved – allowing them to find inspired options that make commercial sense.
  • Give customers information at their fingertips – A solution with menu publishing improves the customer experience by providing information on calories, ingredients and allergens.

 

  1. Integrate your back-office systems.

What this means: With systems integration, the back-office automation resources are synced and can share data with each other. Data is sent directly from local operational systems to central financial systems without having to be input manually. This includes everything from register records to payroll information to invoices.

How it can help: Integrated back office systems streamline your operations, remove error and deliver savings to the bottom-line. They provide a two-way interface between local and central departments, so reliable information is coded and shared correctly across departments and sites. IT, Operations, Finance, Marketing and Purchasing can collaborate and simplify processes and workflows. Managers, employees and the head office can connect and work towards the same goals with the same information.

System integration tips:

  • Examine your current back office components – Plan a path to integration where you can connect your systems, easily maintain data connections, create automated workflow and reporting, and communicate key findings across your teams.
  • Make sure your solution can integrate with your financial systems and POS – To truly save you time and eliminate error manual data entry; ensure that the systems you wish to connect are capable of integration. It’s important that front of house systems and employee-facing tools seamlessly link to your financial and back office solutions.
  • Select a solution tailored to your needs as a hospitality operator – Make sure the solution you purchase includes a number of different elements so that you can grow with it and add functionality as your operations expand. Modules you should look for include Purchase-to-Pay and Inventory, Workforce Management and Analytics.

Technology is a powerful tool in your pursuit of increased profitability. Recipe and menu engineering and systems integration are two powerful way to leverage its strength to optimize your operations.

Fourth has solutions that can help you reimagine your performance. Our recipe and menu engineering solution promotes creativity and cost control in the kitchen. And our hospitality-specific platform meets your exacting demands as an operator – and supports full system integration. Contact us to learn more.