Food Cost Management & Intelligence
We slice and dice your food cost data, so you don't have to crunch numbers.
Dynamic, interactive dashboards provide unprecedented visibility into your food costs – making it easier than ever to track, compare, and control your costs…while protecting your bottom-line.
Our Food Cost Management software includes features such as Configurable Price Alerts, Cost Trend Reports, Declining Budgets and more provide the transparency, oversight, and intelligent decision-making to remain profitable.
Dynamic, Interactive Reports
Food cost ratios high this month? Prices spiking? Was it a vendor error? No need to guess. Drill-down into the details of our dynamic reports and dashboards...down to the line-item of your invoices.
Compare Costs Across...
With xtraCHEF, you can compare costs across GLs, locations, vendors, similar items, and more.
Keep Your Vendors Honest
With our Price Tracker and Close Watch items, you can monitor contracted prices or the prices of your most volatile items to make sure your getting the price you deserve.
Declining Budget Management
A Declining Budget is one of the most important tools in effectively managing the food cost.
If used properly, a Declining Budget can be one of the best tools for stabilizing your costs as well as increasing your cash flow. Declining Budgets assists management in controlling operational costs.In order to grasp how a Declining Budget is used, we must first identify the two factors that are vital to understand if we’re going to be successful – restaurant sales (revenue) and product pricing.
Realistically, restaurant revenues are variable. Many restaurants obtain their revenue from multiple revenue centers with Dining Room, Bar, Catering, Banquets and Retail as the most common. Each week, the sales from these revenue centers can vary widely based upon seasonality, weather, holidays, sporting events, construction and new competition. Product pricing, unfortunately for most operators, also fluctuates tremendously based upon seasonality, availability, purchase quantity, quality, as well as total purchases made with a specific vendor. Added to the instability is the fact that products have varying shelf lives (the length of time a product can remain on the shelf before it spoils), which can range from one day for produce to indefinite for items such as paper supplies. The bottom line is that you’re somewhat set up for a failure before you even begin to spend whatever money you have in your bank account.
Declining Budgets are defined on the sales forecast that you make weekly or monthly. Following that you set a target Food Cost in percentage. Based on that your estimated budget will be calculated. This will indicate how much of amount you can spend on your food purchases. When you started entering your daily sales data, you will get a remaining budget amount that you can spend for rest of the week or month.
Setting the standard for cloud-based restaurant management software.
Don't hate it. Automate it.No one likes data entry or paper pushin'Code invoice line-items in our system once...and that's it. Configure rules to review only the invoices you want to see. Accurate data delivered to accounting & inventory.
Analyze costs. Visualize profits.Improved visibility boosts your bottom-lineReal-time visibility into food costs enable more informed purchase decisions, data-driven vendor negotiations & insight into how fluctuating prices impact the bottom line.
Connect the Kitchen & BookkeeperOn-demand access to invoice images & dataSecure, anywhere access and a powerful search engine make it easy to keep financial information flowing across the house, across locations or across the country.