[eBook] The Essential Guide to AP Automation for Restaurants

Libby Peck More Posts
Libby Peck
9 months ago
[eBook] The Essential Guide to AP Automation for Restaurants

Accounts payable (AP) automation for restaurants is more important than ever for the health of the industry. After all, AP in any industry can be challenging and costly to manage. The process — which includes, but is not limited to, receiving, processing, and paying invoices — is time-consuming, inefficient, and highly vulnerable to error.

This is particularly true in the restaurant industry, where even modest operations require multiple vendors and multifaceted supply chains with minimal resources dedicated to financial operations. The AP process in restaurants can be disorganized and disjointed, with numerous touchpoints divided across kitchen staff, management, ownership, and outsourced accountants.

This not only adds to the cost of AP processes, but also increases the likelihood of overlooking billing and data entry errors. Additionally, the cost of key ingredients, from meat to fish to vegetables, can vary widely day-to-day depending on market prices, availability, or seasonality. This makes it extremely difficult to audit invoices for vendor inaccuracies, let alone closely control your COGS.

Despite the advent of digital technology, approximately three-quarters of all invoices require some human interaction to process because of paper. Much of the AP process in the restaurant industry is still centered around paper, requiring physical shipment, storage, and manual data entry — compounding time and expense. This also leads to lost, missing, or damaged invoices and potentially unqualified employees keying sensitive financial information into accounting software and/or antiquated spreadsheets.

That’s the problem. The solution? AP automation software for restaurants that’s specifically built to satisfy the needs and nuances of the industry. Today’s most savvy restaurant operators are saving time, minimizing costs, and getting unprecedented visibility into one of the most critical components of their profitability: food costs. Thanks to innovations in machine learning, the advent of mobile and cloud computing, and an influx of investment in hospitality technology, AP automation for restaurants is affordable, easy to implement, and here to stay.

We recognize that change can be hard, and new technologies can often leave operators with more questions than answers: What exactly does the software do? How do I know it will work for my restaurants? How will I know which solution is best for my business? How will I be able to measure the return on my investment? Let this be your guide.

If you’re ready to save time, improve margins, and use your own data as a strategic advantage, then download our eBook, The Essential Guide to AP Automation for Restaurants. We’ll take a deep dive into AP automation for restaurants, provide detailed questionnaires for potential vendors, and offer checklists that’ll give you peace of mind in finding the right partner for such a vital part of your business.

ap automation for restaurants

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MUFSO 2019
Michaela Fallon More Posts
Director Marketing
Michaela Fallon
Heading to Denver for MUFSO 2019? Stop by and visit xtraCHEF at Booth #425. MUFSO...

Setting the standard for cloud-based restaurant management software.

  • Don't hate it. Automate it.

    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.

    Analyze costs. Visualize profits.

    Improved visibility boosts your bottom-line
    Real-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 & Bookkeeper

    Connect the Kitchen & Bookkeeper

    On-demand access to invoice images & data
    Secure, anywhere access and a powerful search engine make it easy to keep financial information flowing across the house, across locations or across the country.