Three key considerations to enhance your restaurant operations with accurate reporting

By Christina Kanellos
Managing employees. Serving customers. Ordering supplies. The day-to-day operations of running a foodservice business can be time consuming. Have you taken the time lately to better understand how your business is performing? In a highly competitive industry, where margins and customer service matter now more than ever, it is critical that you have insight into “the numbers” of your operation.

There is no disputing the value of reports, but you need the right data so you are able to make fact-based decisions. Most restaurants have a number of systems in place including payment processing, inventory management and more. Technology enables these systems to be tightly integrated so that you are able to get the most of your data. Accessing the data online delivers a convenient way to gather and analyze the information – especially when you can access it anytime, even when you’re travelling. If you are looking to get more from your data, here are three key considerations:

  1. Centralized payment processing data and reporting – The goal of any reporting system should be to centralize all critical data so you can access it all at once. Reports should be fully customizable to meet your specific needs. You want to look for one-stop access to things such as online statements, transaction and funding data, as well as information on your chargebacks and more.
  2. Ability to identify hidden business costs – Reports should give you the insight to adjust operations to help save on costs. For example, chargebacks can add up, but, with the right reporting you can identify if there are some you can prevent.
  1. Enhance customer service – Data isn’t just about the numbers. It can enhance customer service and help you gain a competitive edge. At the basic level, reporting should help you identify trends in your business and where things can be improved in support of customer service goals. For example, if you identify speed of service or accuracy of orders is an issue, you can start breaking down how it can be fixed. Do employees need training? More staff working at peak times? Are better systems or equipment required? Data will help you make a decision that’s appropriate for your business.

Artisano Bakery Café is a Chase Paymentech customer with two busy franchise locations and five corporate stores across southwestern Ontario. Reporting has become a strategic tool in their business and they regularly run detailed searches by date and type of card in order to verify transactions and reconcile deposits to sales. If there is a discrepancy in deposits, they no longer have to wait until the paper statement arrives – they go online and view their daily transactions in real-time.

Increases efficiency

Online access also helps increase efficiency and provides a simple and fast method to get real-time information. Going one step further, reports can be exported into Excel or PDF formats, making it easy to view the information in a more customized way. While real-time data help Artisano Bakery Café manage and reduce any potential losses, having access to historical and trend analysis also helps provide insight when looking to enhance customer service.

“Having access to online reporting has helped us improve and streamline many areas of our business,” says Artisano President Michael Simeone. “We are able to get the data we need in only a couple clicks, track trends over time and support our day-to-day operational needs.”

It is easier than you think to take control of your business and bottom line. With the right data at your fingertips, you can make informed decisions to improve your business operations.

About the author

Christina Kanellos is Marketing Manager at Chase Paymentech.

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