Restaurant- Business, Marketing & Technologies Blog :: SpeQue

Restaurant Inventory Management : tips and tricks

Marketing Team — Sat, 12 Dec 2020 06:54:02 GMT

Restaurant inventory management is an integral part of effective restaurant management. Inventory management for restaurants helps you keep a check on costs, avoid wastage, and keep a count on what’s coming in and what is going out.

Manual restaurant inventory management is a cumbersome and time-consuming task. Hence, it becomes essential to find a POS solution that offers an integrated inventory management solution.

SpeQue POS is one such software that provides inventory management along with the POS features. This helps restaurants to manage their stocks, maintain food costs through recipes, and also keep a check on waste.

In some restaurants, up to 10% of food is wasted before going on a plate, which means 10% of your revenue may not be realized under your current inventory system. Thus, having an integrated inventory management system becomes essential.

Below are a few tips and tricks one should be aware of for effectively managing your restaurant inventory.

1. Automate restaurant operations with the correct POS

First things first, get a POS system in place. A good POS system with integrated inventory, helps reduce the cost of hiring extra people for restaurant inventory management. It also makes daily operations more effective.

Such a system will help you count opening and closing stock, track inventory and stock, and provide real-time updates on the inventory on hand.

2. Train staff effectively

Once the POS is deployed, the proper training of staff becomes mandatory. Discuss with them how to save on wastage by applying effective restaurant inventory management to track everything that comes in and goes out.

3. Track and approve inventory requests (Purchase Order and Indent)

Keeping a track of all inventory requests is essential to avoid unfamiliar entries into your restaurant inventory consumption report.

For example, when the chef wants a list of items from the store, he raises an Indent. Once the indent is approved by the Store Manager, the items become available for the chef to use. This ensures nothing is missed from your eye and stock misuse can be reduced.

Similarly, Purchase Orders (PO) can be raised by the Store Manager when they need to procure items from a vendor. Care also needs to be taken that all items have been received and in appropriate condition.

4. Stock up inventory as per menu

It's essential to stock up inventory as per the menu. For example, in case there are seasonal items on your menu, you must ensure you stock up inventory accordingly.

Having a system that can actually predict the stock that can be consumed over the coming period can also be beneficial. Such a system employs machine learning algorithms, which analyze past data to come up with such predictions.

5. Keep a regular check on portions

Keeping a regular count of items goes a long way to avoid miscalculations. Keeping a cycle count also ensures daily scrutiny of inventory for each store location without the staff having to spend extra hours at daily closing.

These are some of the best practices for effective management of your restaurant inventory and all of them can be practiced using POS software that provides an inventory management system.

SpeQue POS, a comprehensive POS software helps you take care of not only your inventory but handles everything from food ordering to billing, eventually simplifying your restaurant management process.

Why is Inventory Management Important for Restaurants

Marketing Team — Thu, 03 Sep 2020 06:09:00 GMT

While it's true that revenue is important for the growth of your restaurant business, keeping costs down is also essential. Inventory management for restaurants essentially helps you keep a check on costs, avoid spoilage/spillage and know exactly what is coming in and going out.

Whether you are new to the restaurant business or a pro, the best way to track your inventory is by investing in inventory management software . Most restaurant POS systems on market do not have an integrated inventory management system, thus it becomes essential to find one that does.

SpeQue POS provides an integrated inventory management software that helps restaurants to manage their stocks, maintain food costs through recipes, and keep a check on waste.

In order to understand the inventory management process, 1st let's have a look at some of the important terms that are involved.

Sitting Inventory - the amount of product (or Rupees worth of product) in-house. You can refer to sitting inventory as either Rupee worth or physical amount, but make sure to consistently stick to only one unit of measure.
Variance - The difference between your product cost and the usage amount cost. Let's say your inventory is down Rs 10,000 worth of chicken at the end of the day, but your POS says you only sold Rs. 9,500 worth of chicken. This makes your food cost variance - Rs 500, meaning Rs 500 worth of chicken is unaccounted for. Variance can also be a percentage to help you make easier comparisons. In this scenario, -Rs 500 (the variance amount)/Rs 10000 (the usage amount cost) = - 5% variance. Most restaurants consider a variance of 3-5% within the normal range.
Depletion - the amount of time it takes to use a product.
Usage - usage tells us how long the sitting inventory should last. Knowing the depletion time for a product helps us to calculate the duration for which the inventory should last.
Waste - usually in a restaurant approx 4-10% of food purchased is wasted due to several reasons such as -- improper preparation, spoiled food, overestimating needed amounts, etc. Wastage is one of the prime reasons for reduced profits.
First In/First Out - This principle implies you rotate your stock frequently so that the newest stock is put behind the older stock. This will result in reduced spoilage and a decrease in lost profits due to outdated or spoiled stock.

Now that we have a good idea of what all we need to do to maintain inventory for your restaurant, let's have a look at how it can be done.

TIPS FOR MANAGING RESTAURANT INVENTORY

Managing your inventory is NOT a one-time chore. In order to keep a healthy bottom line, inventory should be monitored daily.

Take inventory when everything is cleaned and organized - Clean out the coolers, freezers, and workstations before taking inventory. Remove all expired or spoiled food.

Take inventory frequently - fix certain times to monitor your inventory. While all inventory should be looked at daily, some items may need actual counting once or twice a week.

Take inventory before opening or after closing - an operational restaurant has a constantly moving inventory. So it's best to take inventory before the restaurant opens or after it closes for the day.

Take inventory when new stock arrives - always keep track of new stock inventory as soon as it arrives. This not only helps you give you an accurate count, but it will also help spot any delivery errors, which can be rectified on time.

Take inventory with teamwork - inventory management is a tedious process and its best to allocate at least 2-3 people to oversee it. This will ensure that errors are cut down and as the staff gain experience, they will develop timesaving techniques, keeping the restaurant running smoothly.

At SpeQue, we believe in the power of technology. In the present day and age, especially during the times of COVID-19, it becomes imperative to have good processes in place for your restaurant business to survive and thrive. If you are not already following the inventory management process or are still stuck with age-old paper-based techniques, its high time you invest in a POS software that provides integrated inventory management solutions. SpeQue POS is one such software.

With over 150 restaurants, pubs and bars have used our software to effectively manage their inventory, keep a check on waste and maintain food costs, we can easily vouch for the importance of having a strong inventory process for your restaurant. We not only provide you with the software but also provide all necessary training for the staff to understand the importance of the process and carry it out on a day to day basis.

You can write to us at info@speque.com to know more about our products and offerings. We would be more than happy to help you establish a strong inventory management process for your restaurant.

Ways to improve sales for your restaurant via Customer Relationship Management

Marketing Team — Fri, 21 Aug 2020 12:13:39 GMT

CRM or Customer Relationship Management is the cornerstone of success for any business. With the cut-throat competition amongst businesses in the present world, having an integrated CRM system for your restaurant business is not optional.

CRM products are cloud-based software systems. They track your guests’ behavior via the ordering process. It’s big data at work for you and for your guests. From a customer’s point of view, a restaurant CRM gets to know each guest, so their experience can be optimized by giving them what they want and rewarding them for loyalty.

As per Oracle data, 97% of business owners are seeking to improve customer experience, and this can be done via CRM. The Oracle report was put together with big data compiled by market research firm O’Keeffe & Company, and it further shows that nearly 40% of businesses still don’t have a unified customer experience strategy. If you’re in that minority, perhaps it’s time to add restaurant CRM to your kitty.

Keeping this in mind, it's time to have a look at some of the advantages of SpeQue integrated CRM for your business.

Capture customer data easily and safely

Capturing and maintaining customer data from various sources such as online ordering, surveys, manual feedbacks etc. is a cumbersome process. This is where an integrated CRM system makes lives easier.

A centralised system, one that integrates into your POS, can help you manage and organise customer data in one place and this data can later be used by restaurant owners to gain insight into their guests, providing them with the ability to create a custom-tailored experience for each of their visitors.

Retarget customers via loyalty campaigns

SpeQue integrated CRM system also helps you build custom loyalty programs based on the number of visits or amount spent by customers, encouraging them to visit more often. Digital wallet systems can be used to reward loyalty points to customers as per your custom business rules. These digital wallets also eliminate hassles of loyalty cards etc.

Integrated CRM systems also help you run campaigns specific to 1 outlet or across brands.

Personalised marketing campaigns

SpeQue Integrated CRM system helps you create custom restaurant marketing campaigns for specific outlets to run during a particular period and time. You can schedule your campaigns for a later date using the SpeQue Campaign Manager. Personalised emails and SMSs can be sent to greet your customers on their birthdays and anniversaries. Customised marketing campaigns can be run based on customer order history and behaviour.

Conclusion

In the current scenario, it's imperative to have a restaurant POS system that does much more than help you print bills and provides sales reports. POS software such as SpeQue POS, which also helps you improve customer engagement is the need of the hour. It will not only help you keep costs down but also improve the overall profitability of your business and keep your customers coming back for more.

Write to us on info@speque.com or request for a free demo now!

5 Advantages Of A Table Booking Management System For Restaurants

Marketing Team — Thu, 23 Jul 2020 13:56:47 GMT

Managing tables and queues at your restaurant, especially during rush hours, is important not only to keep your customers happy but it also reflects on the good health of your restaurant business. A long queue of unhappy customers is surely a mark of poor management.

Most customers these days prefer to book their tables beforehand and it's imperative to have a table booking management system in place. Below are a few of the advantages of having a table booking management system integrated with your POS.

Keep customers informed

A table booking management system can be used to keep your guests informed about their booking statuses by sending them automatic booking confirmations, reminders and cancellation notifications, by email and SMS.

Maintain booking register and check availability

A table booking management system can also be used to check the number of bookings taken and bookings in the pending state for each time period. This further helps in eliminating over bookings, ensuring customers are informed beforehand if their booking is confirmed or not.

This also helps the staff by providing a digital register for all bookings for quickly checking the booking status for any given time period.

Queue Management

Waiting leads to disgruntled customers especially when they don’t know the exact waiting time and feel like they are standing in a queue for too long. A smart table management system allows you to add customers to the queue and give them an estimated waiting time. Waiting times can be accurately predicted if the table management system is integrated with your POS since it then knows about the running tables, the number of people dining & orders on each table. All this data can be used to predict the waiting time to a great deal of accuracy. This also empowers the staff to allocate the waiting time with great confidence and assurance.

Improve customer experience

Being upfront and accurate with providing estimated waiting times and living up to that improves your restaurants’ credibility.

A table booking management system also eliminates confusion among the staff regarding available/booked tables, thereby leading to improved operational efficiency, which reflects in the customer service, and ultimately increases your customer delight.

Build Customer database

A table booking management system also helps you to capture all customer details at one place that can later be used to run campaigns via SMS or email. It can also be used to run loyalty programs, which eventually helps you to grow your business.

These are some of the common advantages of having an integrated table booking management system in place. Write to us at info@speque.com for a free demo.

6 Must-Have Features Of A Good Restaurant Management System

Marketing Team — Thu, 02 Jul 2020 15:03:50 GMT

With the cut-throat competition that exists in the restaurant industry, having an efficient restaurant management software becomes a no-brainer. Each restaurant is unique and hence each one has its own set of needs. This whole scenario can make researching for an efficient, cost-effective POS system mind-numbing and the purchase decision even harder.

However, picking the ideal restaurant POS software for your restaurant can help you to not only tap into new streams of business but also increase footfall. On the other hand, if you end up choosing the wrong restaurant POS software, chances are you might have to work around it till you switch to a better one.

There are tons of features that every restauranteur should look for while choosing a restaurant POS software. Scroll down to check for a few must-have features your restaurant POS software needs to help you become more profitable while also helping your employees become more efficient.

Table Service Management

Managing your customer's reservations is important and hence it becomes important for your restaurant management software to have a built-in table management feature.

Table service management is important to manage your front of house operations. It will help you know the status of your tables at any given time. For example, which tables are available, occupied or getting cleared at what times.

Quick Tip: don't forget to ask how seating and reservation management can be done and tell the sales person to explain the feature in detail (during POS sales demo).

All POS software don't have this feature. So its best to keep it in mind while selecting your POS system (BTW, SpeQue POS does have this feature!).

Intelligent reporting and analytics

Having a good reporting infrastructure is vital to get a clear picture of your business. Most systems have pre-built KPI reports within the software, but with growing business needs you might require more detailed custom reports. So, it's better to choose a POS system that allows you to have custom reporting or 3rd party integration for more specific information.

Moreover, the analysis should not just be limited to reports. With the power of big data and the computation speed of modern systems, a present-day software must provide data-driven business insights. Data analysis plays a vital role in the decision-making process for any modern day business and it makes sense to look for a system that covers this facet even for your restaurant business.

The SpeQue POS does provide data-driven intelligence. With features such as sales forecast and predictive inventory/stock management, the system looks into the historical data and tries to give predictions into the future! (more on this during a demo).

Order Automation

The restaurant business requires speed. No matter how awesome your food is, if your customer service isn't up to the mark, your patrons will leave disappointed.

Automating the order process is a good way to make your service speed fast. Automation also allows you to manage the order taking process with a lesser staff! A win-win on both accounts.

Apart from automation, your software also needs to have an easy to use interface and the performance of the system should be good. Having a lagging user interface can be a big hurdle between you and speed.

SpeQue restaurant billing software provides order automation. The SpeQue Partner App is easy to use and helps stewards quickly take order and print bills. It also helps them to cross-sell items, increasing your sales as well.

Inventory Management

Inventory management is a big dread for most restaurant owners and managers. But done effectively, inventory management helps save costs and make money!

It helps you keep a check on food costs and the food wastage. Unless you know and understand the costs, it's difficult to keep a track on profits.

SpeQue restaurant POS software offers automated, recipe-based inventory management system that helps you keep check on stock and alerts when any master item is low on stock. The system also helps you determine the cost of the purchased stock and helps you price your dishes accordingly so as to get a clear picture of the profit margins per item.

Customer Feedback

We can't stress enough on how important customer feedback is to any business. Still, we are perplexed to see how many restaurant owners are still lagging behind in making use of technology to understand their customer’s preferences.

SpeQue Feedback management system not only helps restaurant owner’s to capture real-time feedback and understand customer sentiments (using sentiment analysis) but it also helps them capture customer data (name, mobile no, email id, DOB and anniversary).

Feedback is a sure shot way to interact with your customers and understand their concerns. Your business is driven by customers so doesn't it make sense to know how they feel after visiting your restaurant and spending their hard earned money?

Customer Relationship Management

Once customer feedback is captured, it becomes really important to make use of it. Knowing how frequently your customers dine with you, what they like to eat, how much money do they end up spending etc., helps you categorise them into different buckets. This further helps you run targeted marketing campaigns to make sure they are coming back to your restaurant again and again. Thus, customer data helps you send personalised emails to loyal customers for special promotions. Wishing customers on their birthdays and anniversaries and offering special offers on these days are sure shot ways to earn your customer's trust.

Communication with your customers remains hassle-free if you have the SpeQue POS solution that lets you keep customer data safe and secure.

Conclusion

Having a good quality, intelligent and cost-effective restaurant POS software should be one of the topmost priorities for your restaurant business. So keep in mind the above mentioned must-have features before deciding on your restaurant POS software. Write to us on info@speque.com for a quick demo of our products.

QR Code Based Menu, Ordering & Bill Payments on SpeQue

Marketing Team — Mon, 15 Jun 2020 04:48:12 GMT

The hospitality sector is the worst hit due to the breakout of COVID19. Restaurants are social places and it's almost impossible to make dining completely “contactless”. But with QR code-based mobile ordering and bill payments, contact with some of the most commonly used items such as menu cards and payment machines can be eliminated.

QR codes can be placed on every table. Guests can scan the QR code on their mobiles. The restaurant menu will open up on their mobile browser. Guests can browse through the menu and add items to the cart. They also have the option to filter by menu categories.

After adding items to the cart, guests can navigate to the order review screen by clicking on the cart button at the top. They now need to enter the table number and guest count and place the order.

Guests order arrives at the SpeQue restaurant POS software. Guests can update their order by scanning the QR code from the same device again. The menu screen opens up and they can see the “bill payment” option at the top. They can add more items to the cart and update their order. They can also go to the bill payment screen and pay their bill online, using debit/credit card and mobile wallets.

At SpeQue, we believe in the power of technology and the ways it improves the lives of people. In these difficult times, technology has a lot to offer. ‘Contactless dining’ might be a word coined recently but we have always believed in the idea of putting menus on people's phones and giving them the power of selecting what and when to order. It not only makes things convenient and hassle-free for consumers, but also makes operations smooth and efficient for restaurants. It also reduces the cost of labour and decreases turn around time of tables.

Write to us on info@speque.com or request for a free demo now!

Benefits Of Online Order Integration With Your Restaurant POS Software

Marketing Team — Sun, 24 May 2020 19:26:52 GMT

Running a restaurant is a challenging business. Hence it makes all the more sense to simplify the systems you use to manage your restaurant. Managing multiple dashboards for incoming online orders from various vendors is a tedious and error-prone process. Integrating orders from all vendors to your restaurant POS software makes things seamless and efficient for your staff as well.

Below are some of the benefits of having an integrated system for online ordering with multiple vendors.

Manage all orders on one dashboard

With online ordering integration on SpeQue Billing Software, you can manage all incoming orders from various vendors such as Swiggy, Zomato etc. on a single dashboard.

One source of menu for all online vendors

Online integration with SpeQue billing software also means you don't need to manage your menu on all vendors individually. Update the price or mark certain items out of stock with just a click!

Enable/disable online ordering in a single click

With online order integration on SpeQue restaurant billing software, you can enable or disable your outlet on all supported vendor platforms with just a click.

Online ordering with SpeQue restaurant POS software will make your online ordering/cloud kitchen business efficient and easier to manage. Write to us at info@speque.com for a demo. Visit our website for more details.

Future of Dining Out: Contactless Dining

Marketing Team — Mon, 27 Apr 2020 06:14:07 GMT

The breakout of the COVID 19 pandemic has had an ever-changing and a seemingly long-lasting effect on business and life dynamics all across the world.

The restaurant industry in India, with an annual turnover of over Rs 4 lakh crore and a direct employee base of over seven million, is also fighting a grim battle for its basic survival amidst the Covid-19 outbreak.

With social distancing being the norm and ‘flattening the curve’ seeming to be the most effective way to deal with the virus, the restaurant/hospitality industry, which completely revolves around socialising and human contact, is sure to have a long term, long-lasting impact. We, as businesses, should be ready to embrace change.

At SpeQue, we believe in the power of technology and the ways it improves the lives of people. In these difficult times, technology has a lot to offer. ‘Contactless dining’ might be a word coined recently but we have always believed in the idea of putting menus on people's phones and giving them the power of selecting what and when to order. It not only makes things convenient and hassle-free for consumers, but also makes operations smooth and efficient for restaurants. If implemented properly, it also reduces the cost of labour and decreases turn around time of tables.

Apart from this, there are a few more touchpoints that a restaurant can modify and facilitate with the introduction of technology. These can be simple actions like booking a table, pre-ordering meals, takeaway, digital ordering, digital payment, etc.

This is where the SpeQue app can be a real gamechanger. From booking their table beforehand to browsing the real-time, dynamic menu on their phones, customers can prepare their orders on the SpeQue User App. They can place the order once they reach the restaurant and have been allocated a table. This avoids interaction with paper menus, one of the few items that come in contact with multiple people.

The food will then be served to customers by servers who are equipped with proper masks and handwear to avoid direct contact with utensils. The chef and kitchen staff also need to be trained to wear masks and gloves at all times and maintain cleanliness and high level of hygiene standards.

Once done with the order, customers can pay their bill on SpeQue app, using their debit/credit card or restaurant wallet. Restaurants can also run cashback programs using a dedicated wallet system. This means that customers get a cashback amount in their wallet for your particular restaurant. They can avail this cashback on their next visit.

Customers can also share their feedback for the food and service with the restaurant. Restaurant owners/managers get real-time notifications for the feedback submitted. This gives them a chance to interact with customers then and there, and try to address their concern before it's too late.

Restaurants should also follow certain health guidelines laid out by health authorities such as WHO (World Health Organisation). Check out this link for more details.

2020 shall always be remembered for the pandemic that changed history and our lives as we know it. Let’s also work towards making it be remembered as a time when all of us, through our indomitable spirit, stood up and made a difference.

Check out our user app on Android Play Store at this link. Write to us on info@speque.com to know more about how we can help you enable 'contactless dining' at your outlets.

Benefits of AI in Restaurant Business

Marketing Team — Wed, 22 Apr 2020 07:29:49 GMT

Artificial Intelligence is the branch of computer science that has picked up speed and has shown its presence across industries over the past few years. AI involves programming systems in such a way that they learn and improve over time, on their own, with the help of data.

The benefits of AI in the restaurant industry extend beyond robots taking orders, making and delivering food. AI can also help restaurant owners make sense of data to improve the diners’ experience.

Restaurants are always seeking ways to reduce labour costs. The high staff attrition rate is also a characteristic of the restaurant industry. Increasingly, restaurant owners are looking to AI to address and overcome these challenges.

Let's take a look at a few ways AI and ML can have benefits for the restaurant industry.

Sales Forecasting

Machine learning (a subset of AI) can be used to forecast revenue for restaurants. Using historical data and other external factors such as holidays, weather, local events etc., machine learning models can predict the revenue quite accurately.

SpeQue Sales Forecast

From our experience, we have seen that the SpeQue Sales forecast, for instance, is able to predict the restaurant sales to an accuracy of almost 90%. Apart from historical data, we also use external factors as mentioned earlier. This data is fed into our machine learning models (we have deployed Microsoft’s ML .Net ), which then predict and give us the forecast for coming weeks or months.

Machine learning can also, with a great degree of accuracy, predict sales of dishes depending on external factors as mentioned earlier. This can help restaurants plan better.

Stock prediction and waste management

Restaurants incorporating AI in their restaurant billing software have an advantage of significantly cutting down costs with comprehensive analytical data accumulated by the system that tells the management about the usage of items in their inventory. Tracking and ordering items based on their usage prevents any items from being underutilized or going out of expiration.

This also helps in monitoring, if the staff is following the recipes and delivering proper portions as set by the restaurant to the customers. Avoiding waste and theft by implementing AI has the potential to save a lot of capital for restaurants in purchasing and managing their inventories.

AI-based Recommendations & Suggestions

Machine learning models can also be used to provide curated recommendations based on order history. The amazing thing about these models is it will work for all restaurant types, across cuisines and across geographical boundaries. These suggestions can also help captains and stewards cross-sell or upsell items while taking orders.

SpeQue restaurant billing software recommendation engine uses ML .net to provide 2 types of recommendations (1) recommendations at the dish level: basically looks into historical data to check which items pair best (2) personalised recommendations: works at the individual level. ML models provide suggestions to customers based on their particular order history and food preferences. This kind of curated recommendation is only possible with the use of machine learning.

SpeQue User app uses the 2nd kind of recommendation engine to provide curated, personalised recommendations to customers.

AI-Powered Chatbots

Chatbots have been prevalent for some time now, but the use of chatbots is still in its infant stage in the restaurant industry. While a few big players such as Domino's do use chatbots to take online orders from customers, such implementations are few and far between.

SpeQue Bot on SpeQue user app helps users locate their favourite restaurant based on their location, food preference and budget. It also helps them to check table availability and books their table, without having to make a call. This also reduces the requirement of manpower at the restaurant end and automates the complete inquiry and booking process for the restaurant.

Self Checkout Kiosks

With the increasing cost of manpower (the recent COVID-19 crisis could also be a compelling reason), self-ordering kiosks will definitely be the future of dining.

Guests can spend time studying photos, ingredients, and nutritional information, as well as easily request more food or drinks as the meal progresses. What’s more, self-order technologies tend to reduce the repetitive, transactional demands on servers, freeing them to be friendly ambassadors for your brand. Expect to see more of these types of applications.

AI is, without doubt, the future and we, in the restaurant industry, cannot afford to be left behind in this technological race. As we saw, AI not only helps make operations more efficient, it also helps to improve the dining experience and saves costs in terms of reducing manpower. It also provides deep analytical insights into your business and helps you stay ahead of the game.

Must Have Reports For Your Restaurant Business

Marketing Team — Thu, 09 Apr 2020 08:04:40 GMT

One of the most important aspects of a centralised, integrated cloud-based restaurant management software (such as SpeQue) is the ability to pull detailed reports and analytics on the go.

Reporting doesn't just involve looking at a bunch of tabular/graphical data to see some numbers. Analyzing reports regularly can help restaurant owners check your restaurant’s pulse, even when you can’t be there yourself. Reports can also provide insights that you might not have thought to track, such as how accurately you’re quoting wait times.

Where business insights are concerned, more data doesn’t necessarily mean better comprehension. Without access to automated reports, revelations can be hard to come by, since you’ll have to decide on your own which metrics to track—and task yourself with the data entry and processing.

Dynamic reports from your restaurant POS software should help you track the most important benchmarks. The 8 reports below will help you get a better picture of the overall performance of your business.

Sales Reports

Sales reports don’t just mean sales numbers. A look at the sales breakdown weekly, monthly and quarterly helps you analyse sales patterns.

Also, a breakdown at the food category or food item level can also help you get a better understanding of which categories/items work best.

Top selling items reports also tell you about the items sold the most. This along with the ‘Food Costing’ report will help you analyse the items that have the highest and lowest profit margins.

SpeQue restaurant POS software also provides dish wise rating reports. This can be combined with sales reports at the category/item level and food costing data to engineer your menu as well.

Key Performance Indicators (KPIs)

KPIs are the parameters that have the most effect on the health of your restaurant business.

SpeQue KPI dashboard provides a daily, weekly and quarterly breakdown of sales data and revenues. It also gives the overall revenue information along with SpeQue AI forecast information.

It also provides online vs dine-in revenues, session wise revenue breakdown, top most selling items and sub-category wise breakdown. (e.g. veg vs non-veg, alcoholic vs nonalcoholic etc.)

Inventory Reports

Inventory management reports can help you provide an insight into the stock consumed and quantity of stock wasted, on a daily and weekly basis.

Food Costing Reports help to keep a check on food cost and maintain the selling price of menu items accordingly. This along with the menu analytics goes a long way to improve profits for your restaurant.

Feedback Reports

As you might be aware, SpeQue restaurant management software comes with an integrated feedback system. So feedback reports can also be leveraged.

SpeQue feedback dashboard provides in-depth analysis of all feedback collected from customers. You can check the ratings for different feedback parameters and compare their performance over time (weekly/monthly).

SpeQue feedback dashboard also provides sentiment analysis for comments entered by customers. This saves a lot of manual time and effort in reading and analysing these comments.

Menu Analysis Reports

Top Selling Items report and dish wise rating dashboard can be used to look into menu performance and engineer the menu whenever required.

Staff Performance Reports

Staff Performance report gives a quick snapshot of the performance of each staff (stewards/captain).

Information such as how much sale each of the staff is doing, how many patrons each of them is serving, who is applying most discounts, who is cancelling most dishes etc can easily be figured out.

This report also helps you reward your best performing staff.

Customer Relationship Management (CRM)

SpeQue restaurant POS system comes with an integrated CRM system as well.

CRM analytics dashboard provides some of the most useful information about your customers.

Along with their profiles, CRM dashboard also categorises your customers into different buckets. This kind of profiling is really helpful while running targeted campaigns to increase customer retention.

Fraud Detection Reports

Reports such as cancelled items reports, discount reports and non-chargeable bills reports help you keep a check on the sales exceptions that might take place. These reports help to keep a check on theft and pilferage as well.

Reporting and data analytics provide insight for businesses to make better, informed decisions. Our reporting and analytics dashboard provides you with in-depth information that can help you grow your business. Write to us at info@speque.com to know more.