In Hospitality Technology’s 2016 Restaurant Technology Study, many trends emerged that align with BirchStreet’s Procure-to-Pay Automation solution for restaurants. Over 32,000 restaurants participated in the research with overwhelming results that restaurants are budgeting for cloud based corporate/enterprise systems. In fact, 87% of respondents replied that their top drive to fund tech projects was the desire to improve operational/process efficiency. Other driving forces were compliance, improving business insights, reducing the cost of managing technology and keeping up with the competition, among other reasons.
BirchStreet’s Restaurant Platform with Procure-to-Pay automation technology helps restaurants address all of these trends, and more. BirchStreet creates one centralized marketplace for ordering F&B, keeping track of inventory, determining margins, reporting, and managing all your dishes, ingredients and food costs. Typical cost savings are between 2% and 5% per year. Chefs can make informed decisions on when to upsell, raise prices or cut waste, and much more. In addition, the system can be used for training and consistency of dishes or plates by uploading instructions, photos and videos.
The report also states the need and growing trend for analytics. Business intelligence (BI), reporting and easy, intuitive dashboards are essential to restaurants, although are not a priority. The study rates analytics as being the most important emerging technology for restaurants, although budgets are not focused on improving this. BirchStreet offers a customized dashboard view that gives both high level and detail leveled views of real-time spend data, suppliers, costs and much more, in addition to 140 standardized reports. Analytics provide visibility and are a “must have” for successful business.
Many restaurants report that they lag behind their competition when it comes to using software. BirchStreet helps restaurants optimize their competitive advantage by improving efficiency and doing more with less resources. Automating back-office processes and having a centralized location for recipes saves time and improves profitability. Typically, ROI is achieved between 3 to 9 months of using the system.