Fig & Olive Expands xtraCHEF Cost Management Platform Across Additional Locations
Restaurant Group with locations across the country continues roll-out plan of xtraCHEF
Fig & Olive chooses to extend the benefits of xtraCHEF, an automated invoice processing and restaurant cost management platform, with plans to leverage the time-saving and cost-effective solution at each of their 8 restaurants. With locations in NYC, Los Angeles, Chicago, and Washington DC, xtraCHEF enables the restaurant group to eliminate manual accounting tasks while centralizing cost intelligence and analysis across their geographically dispersed team.
“Prior to xtraCHEF, our invoice process was time consuming and inefficient,” said Alexis Blair, Director of Restaurant Financial Planning & Analysis for Fig & Olive. “Shortly after implementation, we found xtraCHEF not only increased our efficiency, but it also made purchase details easily accessible to our teams to better control costs. We are eager to roll it out to our other locations.”
Fig & Olive initially implemented the solution at one location as a trial to ensure effective change management and a successful implementation. They scanned previous month’s invoices to expedite automated category matching and GL coding. Soon after efficiency, accuracy, and timeliness expectations were met, the group continued their roll-out plan. In addition to automating the process of capturing header-level and line-item detail from vendor invoices in a timely manner, xtraCHEF enables Fig & Olive to implement a configurable invoice approval workflow to better manage their accounts payable process.
“Our customer’s success is our success,” said Daniel Chulsky, COO of xtraCHEF. “Therefore, we offer our customers, such as Fig & Olive, flexible implementation plans with month-to-month contracts for active locations only. This gives them the opportunity to recognize the value of the solution while ensuring implementation at each location is adequately managed.”
With features such as price tracking, recurring COGS reports, and integrations to Compeat, Fig & Olive’s accounting and inventory management system, xtraCHEF offers increased visibility into how money is being spent across all locations and ultimately allows better food cost management.
xtraCHEF is a cloud-based invoice processing application to help the hospitality industry better manage costs. You simply take a picture of your invoices with our mobile app (or scan and upload) and xtraCHEF digitizes the entire invoice, extracts line-item detail, and imports the data directly into your Accounting or Inventory Management System. We then provide a number of cost intelligence features, including COGS reporting and analytics that allow you to keep your food costs low and your quality of service high across one or more locations.
ABOUT Fig & Olive
At FIG & OLIVE each dish is prepared with a selected extra virgin olive oil. Our menu is centered around local seasonal and imported Mediterranean. Recreating the ambiance of the French Riviera and its bon vivant lifestyle has been Laurent’s vision since the beginning. Step into any of our locations and you’ll be met with an abundance of natural light, outdoor terraces, the scent of rosemary, and curated music playlists. A shared style of cuisine means guests interact more deeply with one another.
The new standard in restaurant cost management.
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.