Brands of all shapes, sizes, and in a range of industries rely heavily on the technology and solutions they implement. And this is because the technology they utilize has a lasting impact on both the customer and employee experience.
When it comes to high-tech and purpose-built solutions, there is not one piece of technology more crucial to enhancing almost every aspect of a brand’s operations than point-of-sale systems.
However, with constant changes in customer demand, brands not only expect but desperately need POS systems to go beyond their general job requirements. They need a powerful POS to consolidate data from existing solutions to deliver extensive reports spotlighting multiple areas of operations. Without comprehensive POS reports, operators are forced to constantly monitor existing solutions and manually create essential reports around various strategies, ultimately resulting in data silos, downtime, and lost revenue for the brand.
As important as it is to find a POS system that can be seamlessly implemented, it is equally as important to ensure that it can provide analytics and leverageable reports to take operations to the next level. From reports on inventory to labor, these are the top POS reports brands can leverage to enhance their operations.
Inventory – Keeping track of inventory is a necessary task most brand operators dread. However, POS reports centered on a brand’s inventory makes this task extremely painless and a breeze. Inventory reports provided by management solutions, like Data Central, help operators forecast future inventory needs by leveraging information on historical consumption, vendor delivery schedules, thaw and prep times, and ingredient level tracking. Inventory data is tracked on a menu item and ingredient level, empowering brands to identify the smallest variance.
These reports also remove the manual process of tracking stock levels by integrating with vendors to automatically determine inventory needs, allowing operators to quit stressing about manual inventory tracking and start focusing on the more important matters: their service and guests.
POS inventory reporting must provide brand operators with accurate inventory levels, pricing information, contract price variance, common inventory mistakes, inventory turn, and supplier order details to help eliminate inventory count errors and save valuable time and money. These reports not only ensure brands always have the right amount of stock needed, proper turn on inventory items, and maximized profitability but also provide them with the transparency and capability to make actionable real-time decisions that affect inventory strategies.
Food – Managing food waste is an unavoidable ongoing issue restaurants experience, and inventory reports can only do so much to combat it. However, by receiving food management reports as well, restaurant brands can minimize waste, gain full visibility into their food strategies, and create profitable menus. Food management reports consolidate data from multiple solutions, such as inventory and sales solutions, to help brands identify trends, predict sales, and quantify variance between current and optimized inventory.
Brands equipped with easy-to-digest and leverageable food-management reports can ensure menu item recipes are consistent across all service locations, reduce planning, prep times, and food waste, manage costs and daily prep activities, and ensure all menu items are FDA-compliant. Food-management reports must provide operators with actionable insights into inventory, costs, prep, turn, and projected sales to ensure the proper amount of stock is always on hand and that nothing ever goes to waste.
Labor – Receiving reports highlighting critical employee data is just as important as receiving reports on inventory and food. Labor reports provide operators with a comprehensive view of labor cost percentages, sales per labor hour, average wage rates, employee retention, and employee performance. With labor reports, brand operators can uncover how efficiently employees work and who their star employees are as well as receive alerts on future concerns, including overtime situations and variance from defined budgets.
Furthermore, these reports remove the mundane task of finding the perfect combination of employees for any given shift as they help generate cost-effective and operationally sound employee schedules through sales forecasts and defined labor requirements. Predictive schedules help minimize the downtime it takes to create those perfect weekly or monthly schedules and help maximize the performance of each individual employee.
As brands continue to rely on the technology they implement, they must ensure their POS can seamlessly integrate with existing solutions to provide reports on crucial areas of operation. With enterprise POS reporting, brands can strengthen operational strategies, maximize performance and efficiencies, and facilitate current and future success.