Companies with multiple restaurants, brands or franchises make critical multi-million dollar decisions on a daily basis. To ensure that their decisions are well-informed and profitable, they need access to a load of information. Unfortunately, spreadsheets and reports are boring, tedious and, at times, very inaccurate. On the other hand, decision makers who depend on their hunches can be easily misled since there’s no data backing their choices. This is why restaurant owners need to take a page from other industry leaders and incorporate business intelligence tools and software.

Business intelligence (BI) is a group of software applications that gather, analyze and leverage data in real time rather than relying on complex reports. This allows restaurants to gain a competitive edge as well as increases their visibility in the currently crowded market. However, these are just the tip of the iceberg when it comes to what business intelligence can do for you.

The Benefits of BI for Restaurants

If you haven’t integrated a BI tool into your IT infrastructure, you’ve beBusiness Intelligence Toolsen missing out on the following perks which your competitors may be enjoying already.

  • Easy Access to Data – Transactional data can help improve your business processes. However, considering the fact that the amount of this data may be huge for your company, managing, evaluating and processing it will be a considerable task. BI software can easily collect information from different locations and different applications and consolidate it into a single portal for easy reporting, auditing and analysis.
  • Accurate Information – Instead of error-ridden spreadsheets where data may have been omitted or duplicated, BI provides automatically generated reports that are both accurate and up-to-date.
  • Quicker Decision Making – Business intelligence promises faster response time since you’ll be able to view reports on a daily basis rather than after long intervals. By responding quickly to even unpredictable situations, you’ll be able to make better decisions that positively impact your restaurant.
  • Uncovering Problem Areas – With many restaurants to manage, problem areas such as fraud or poor performance can easily go unchecked for long periods. However, BI can optimize your establishment by highlighting any discrepancies. For instance, by comparing purchases versus revenue, you can easily make adjustments that make your establishment thrive.
  • Enhanced Negotiations – To improve your bottom line, you may need to negotiate with vendors and suppliers. BI provides you with the facts and figures you need to maintain a strong position. As a result, you can negotiate your contract and ensure more favorable terms.

Why eRestaurant is the Best Business Intelligence Software for Your Restaurant

eRestaurant is a comprehensive system that’s designed to substitute a myriad of software and combine their functionalities in one. Through its business intelligence module, it provides you with dashboards, metrics and features such as reporting and data warehousing. eRestaurant consolidates a sea of data into structured reports that can help you make profitable decisions and realize ROI very quickly. It also allows you to meet financial compliance regulations, giving your business leverage over the competition.

And that’s not all. eRestaurant offers four more modules that will help your business thrive: Universal Forecast, Supply Chain Management, Inventory Management and Workforce Management. To see these modules in action, request a demo. We’re also available to answer your questions via phone at 1-800-676-1281, so don’t hesitate to call right away.