Why Real-time Restaurant Reporting & Live Analytics Is Critical For Restaurant Chains

Why Real-time Restaurant Reporting & Live Analytics Is Critical For Restaurant Chains

The restaurant industry has been quite a promising sector for growth and making huge money since there is an increased demand for dining out. Unfortunately, as said, that the grass is always greener on the other side, it takes a lot of effort, persistence, and risks to run a restaurant. Thank God for technology, real-time restaurant reporting could now help you track your staff’s performance through a restaurant management software, ensuring there are least possible loopholes in your business. 

How To Use Real-Time Restaurant Reporting To Increase Profits For Your Restaurant Chain

It is observed that almost 80-90% of the restaurants fail to survive after their first year of establishment, either due to staff attrition or high losses. The need for real-time restaurant reporting and analysis arises as a restauranteur needs to be proactive about his/her restaurant at all possible times. Since large restaurant chain owners can not be physically present at all the outlets, mistakes are bound to happen. 

A restaurant management software does not promise to eradicate all the issues but definitely helps to reduce them. It would be an ideal situation if you could find the lag in your operations right there and then, and use it to make your sales better. Let’s now dig deep into the real-time restaurant reporting and analysis feature of a POS software and help you understand how to maximize its use at your restaurant chain. 

Tackling Issues With A Restaurant Management Software 

As a restaurant chain owner, you understand that it is easier to make sales in some of your outlets than the others. The outlets that might not be performing too well need a constant lookout and management plan to be able to work better. It is always better that you find the root cause of an issue right there and then, which brings in the need for live tracking of staff operations. 

From the minute a customer walks into your restaurant, to the time they leave, they are all a part of restaurant operations. Apart from following your restaurant SOP wholeheartedly, you also need to put everything in order through a POS software. Let’s now look at the several benefits a POS software is able to provide you with. 

i) Multiple Outlets Need A Proper Management System

It is almost impossible to be at different locations at the same time. The lack of management of each outlet individually might hamper the potential sales of that particular outlet. This is why there is a desperate need for restaurant management software for taking care of all your outlets from one place. 

Long gone are the days when you’d be depending on excel sheets to calculate and analyze data. You could now maintain humongous data on your restaurant management software and easily access it whenever you want. 

ii) Theft And Underperforming Staff

In the restaurant space, it is not always true that you would find the most capable staff who are always willing to stick with you in your hard times. There have been a lot of theft instances noted in the past few years, considering the level of growth of the sector. Therefore, it is equally wise as it helpful for you to monitor your staff’s activities on a real-time reporting basis.

How To Effectively Use The Collected Data Real-Time 

It is even more essential to use the data collected in real-time than to collect it. This is because if that data is not used promptly, it makes no sense to have the feature in your POS software in the first place. Unlike the normal bi-monthly or monthly report analysis, analysis of the real-time data and subsequent staff round-ups need to be quick and efficient. 

Here are some ways to achieve that. 

  1. Outlet Level Restaurant Reporting – Dependancy on restaurant managers for the sales data is reduced, facilitating quick decision making.
  2. Quick Approvals – in large restaurant chains, the stock manager can raise a purchase order that can get approvals from the management in real-time through the POS.

i) Scheduling Shifts

On the basis of the live data achieved, you could now change the shifts of the staff accordingly. For instance, if someone has worked extra hours, he/she could be given a better shift for the next day.

Integrating live data and reports also tell you your exact peak hours and the number of staff needed then. It enables you to observe if there is a need for more numbers of people or if any of the first-line staff is not performing up to the mark, right there and then. Little managerial and operational changes would help your restaurant work better in the long run. 

ii) Forecasting Trends

Live data would help you forecast trends according to your strengths, weaknesses, customer demands, and specificities. The presence of a live dashboard of all the data would also help you make strategies and initiatives to enhance the future of your business. 

iii) Catch Hold Of Any Restaurant Thefts

Restaurant thefts are one of the most underrated, yet a huge contribution to why a restaurant fails. The integration of live-data reports and analysis would help to cut down such malpractices among the staff to a huge level. Since the inventory, discounts offered and billing is tracked at the same time they’re being punched, the staff is almost always alert. This is how you can cut down the possibilities of restaurant thefts at your restaurant. Additionally, you could incorporate an anti-theft module for extra safety at your brand. 

All in all, as a restaurant chain, you need to be absolutely sure that all your outlets perform equally well. This needs to be ensured by incorporating real-time restaurant reporting and analysis at your restaurant. It is highly advisable to use the collected data effectively to be able to generate high income.

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