Product Release 9.0: Introducing xtraCASH
xtraCHEF has been in the business of helping our clients save money through AP automation, access to data, and insights into food and plate cost since we first launched. So when COVID-19 closed the doors of dining rooms around the country, forcing operators to think critically about the future, our team thought about how we could help as many restaurants as possible to come back better than ever.
As restrictions begin to lift and restaurants everywhere begin to resume service, xtraCHEF is ready to help our industry recover as quickly and as profitably as possible. We know that having access to tools to make the most out of every dollar earned and every dollar spent will be critical for operators—and that’s how xtraCASH was born!
xtraCASH is a free food cost & purchase management tool. In fact, it’s the restaurant industry’s only no-cost invoice processing solution. Participants in xtraCASH will upload invoices to gain instant insights into spending habits and ingredient-level price fluctuations. They’ll also get the opportunity to earn cash back by opting into a manufacturer rebate program powered by the Buyers Edge Platform.
Here’s everything you need to know about this exciting product release:
Turn Paper Invoices into Insights
Participating in xtraCASH is easy. Here’s how it works:
- Sign up for xtraCASH. Your participation is 100% free! No tricks, no gimmicks — just an easier way to make data-driven decisions for your business.
- Upload invoices from your restaurant purchases by taking photos of them on our mobile app, or scan and upload bulk invoices in a web browser.
- xtraCHEF’s invoice recognition software will extract line item-level details from invoices to give you data that will inform purchasing decisions and leverage in vendor negotiations.
- That’s it! Continue capturing your purchase data for additional insights and eligibility for manufacturer rebates.
xtraCASH participants can also choose to opt in to earn manufacturer rebates, thanks to our partnership with the Buyers Edge Platform. Opting in for this service will give you the opportunity to earn cash back on food, beverage, and disposables purchases. Rebates are available for more than 165,000 products from over 350 manufacturers thanks to the power of Buyers Edge Platform’s Group Purchasing Organization.
Automatically Explore Spending Habits with Invoice Data
View your routine spending habits at a glance to gain a better understanding of where your dollars are being spent:
- Invoice capture allows you to gather accurate, line-item details about the items you buy.
- Reports and Analytics help you see where you spend the most money.
- See how the price of ingredients change over time and check for vendor discrepancies in the Price Tracker.
- Find spending and vendor trends with a glance on the Cash Back Dashboard.
Access Tools for More Efficient Operations
xtraCASH also offers complimentary tools that can help you run your restaurant more efficiently, helping you save on labor costs in the long term:
- Store, search, and access invoices from anywhere with Document Management.
- Use the Purchasing and Order Management interface as a one-stop shop to buy more inventory.
- Search the Product Catalog to find and manage details of all past purchases.
- Get clearer insight into all transactions from each partner with Vendor Management.
Don’t Leave Money on the Table
xtraCASH is an easy, no-cost way to experience the benefits of xtraCHEF’s mission to empower restaurant operators with data and insights to drive profitability.
As your restaurant reopens and your customers come back to dine in, don’t leave free money on the table. Click here to start earning extra cash and insights today!
