The restaurant industry is relying on technology more than ever, especially when it comes to handling their invoices.
Restaurants have realized that operating their business using pen and paper is a thing of the past. By moving away from paper invoices and embracing technology, restaurants are now able to run a more efficient operation and gain insights into the health of their business in real time.
How well a company handles and processes documents, like invoices, will have a direct impact on their bottom line, whether it saves them time on the Accounts payable end or allows them to see easily view inventory and costs in real time.
Technology offers so much flexibility for restaurants to be more successful. Digitizing invoices gives operators insights into their purchasing that they may otherwise not have access to. Traditionally, it would take hours of collecting paper invoices and combing through spreadsheets to arrive at this level of organization on their purchasing data.
Here are 3 ways digitizing your invoices can help your business
More Flexibility for Restaurant Finance Teams
Digitizing invoices leads to Accounts Payable automation. If you want your restaurant to be more agile, it’s time to ditch the clipboard and paper invoices. Invoice digitization gives your finance and ops teams the flexibility they need to be more productive in less time.
Your finance team no longer needs to hunt down physical paper invoices or audit invoices for errors. Digitized invoices flow directly into your favorite accounting system and have your General Ledger code assigned to them automatically.
Check out how our FREE software could help your finance team!
Easily Adapt Recipes for Bigger Margins
Digitized Invoices means real-time recipe costs. Properly costing out your recipe is one of the easiest ways to increase your margins. By using a system that allows you to digitize your invoices and build recipes, you’ll know exactly how much you are making on each menu item. If the price of beef fluctuates week over week, you’ll know exactly how that affects your margins and be able to price your menu accordingly. Plate costs are calculated in real time with each uploaded invoice. Easily see which recipes are becoming more or less profitable and see the exact ingredient that is pushing you up.
Interested in learning more about digitizing your recipes with our FREE software? Join us in one of our weekly Recipe Costing webinars!
Automatically Track Ingredient Price Trends
Digitizing your invoices gives you real time insights into ingredient price trends, allowing you to make better, more informed decisions. As invoices are digitized, that information goes into reports that allow you to run a more profitable restaurant without having to sift through paper invoices. Cost of Goods Sold, Inventory, and Recipes Costs are now available at your fingertips saving you time and allowing you to take real time action if problems arise.
Join our weekly webinar to learn more about digitizing invoices and the essential reports that every restaurant should have by utilizing our FREE software!