4 Reporting Tips to Make Restaurant Operations Easier
As a business owner, you’ve always got your eye on operations. A constant stream of checkpoints runs through your head as you make decisions about your restaurants: What are sales looking like? And profit? How much is being sold at what rate, and when will you need to reorder? How are your employees performing, and what are they earning?
Whether you choose to have cashiers, automated self order kiosks, or both, you need your point of sale system to track the vital data that helps you answer these questions. Not only that – you need reporting capabilities that scale with your business as it grows.
That’s why we’ve designed reporting that gives you deep, intelligible insights into your operations. By logging into mynextep – our cloud-based restaurant management tool – you can get them on-demand or schedule reports to be emailed to you at the frequency you prefer.
Here are 4 tips on restaurant reporting and how it can make your life easier:
1. Get daily snapshot of operations.
Too much data can be a very bad thing. Swimming through a sea of numbers slows down and adds stress to your decision making process. It’s important to know which stats are critical for you to see on a daily basis and which stats are only helpful on a less frequent basis.
With mynextep, you can have a one-page report sent to your email every day that answers the basic questions: What are daily sales? How many transactions were with credit cards? What kind of discounts were used? Which employees were working and for how many hours? You can also dial in on how your inventory levels are doing. Get an order threshold report sent to your email – it will automatically alert you when your Pepper Jack cheese needs to be reordered, or when you’re running low on Doritos.
A daily snapshot can help you make quick course corrections, especially when it’s just the right dose of data.
2. Spot sales cycles and patterns with sales reporting.
Know which menu items bring you the most profit. See which times of the day or week or season bring in the most customers. Pinpoint the items that do better at certain times than at others and engineer your menu to maximize sales. Discontinue items that don’t do well, and cut back on waste.
In mynextep, you can see sales by the hour, by origin, by tender. You can see items sold by category, by hour, by quantity, by revenue. Frame and reframe the data to zero in on exactly the metric you want.
3. Gauge performance so you can identify ways to improve it.
On the road to improvement, the first step is always knowing where you currently stand. In mynextep, you can see the average order fulfillment time by hour and the average order size by origin. Compare your kiosks’ upsell performance to your cashiers’. See the hours your employees work and know when to have them go home.
With up-to-the-second data at your fingertips, you can set goals and track performance improvement over time.
4. Benchmark performance metrics by comparing multiple sites.
Operating multiple locations certainly has many advantages: one of which is the opportunity to run multi-site reporting. If one location’s upsell performance is dragging compared to the others, you can identify employee training opportunities. If 3 out of your 10 locations show a better average order fulfillment time than the others, you can identify efficiencies and bring them into the other 7 sites. What is your top performing store doing that the others aren’t?
By having more than one data point for each metric, you can manage by exception.
Our reporting suite includes the reports mentioned above, along with many more. Because our technology is integrated and cloud-based, you have access to real-time data. We don’t outsource reporting either, which means that our in-house support team can help you with all of it. We are focused on providing you with all the tools to help you on your way to long-term, sustainable success, and so we also create custom reports at our customers’ request.