The Top 7 Restaurant Data Reports for Your POS Software
When using a POS system for your restaurant, the real challenge isn’t just choosing the right one for your business, but also knowing how to get actionable insight from the sea of data that is received daily. With the numerous great analytic tools that come with the restaurant POS software available in the market today, you shouldn’t be making any major decisions without having a clear understanding of what the data is telling you. By understanding the data, you will be able to access you restaurant data reports in real time, through cloud reports, or any other device connected to the system rather than using manual means to track and update restaurant data. To understand how to use POS software to streamline your reporting and monitor the trends in your restaurant, here are seven restaurant data reports you should make a habit of checking to help you directly impact your business, regardless of its size.
1. Restaurant Sales Reports
Sales are the corner stone of any business. Your restaurant POS software enables you to access all the transactions done during a selected period of time; whether daily, weekly, monthly, or annually. It displays KPI’s including total sales, average sales, and the number of orders within the selected period of time. In the restaurant business, especially for a small business owner, one of the most important but laborious tasks is tracking sales. Tracking sales and number of orders on paper is doing yourself a major disservice and only adds a load of work to your workweek. A good POS software will provide you with a report of your individual salesand the breakdown of the different order types in real time. You can also enter a variance to compare your current sales with previous ones. This is a great way to make sure that you never buy too much or caught short.
2. Item Sales Report
By checking your items sales report, you get to establish your top selling products. One of the most common reasons people give for venturing into their business is that they want to make money through their personal passions. As much as it is amazing that one can make money in this way, it can also result in poor business decision making. The fact that you love a certain dish on the menu or lean towards a certain style of cooking is not a good enough reason to offer it in your restaurant. This is where restaurant POS software comes in. Item sales report is a simple but effective way to track how much of each product is selling and which one is selling the most. Actual sales numbers will help you accurately plan how much stock to purchase, which ones to put on display and what to actively market to your clients.
3. Taken by Report
Keeping a close eye on the activities of your employees is an important factor for the success of your restaurant. Taken by the report will enable you to know the final balance in your cash register, so you want to run it after every shift or at the end of the day. The report should show what your employees have been doing at the register. The POS software will verify that the amount listed is the same as the amount in the register to ensure the integrity of your employees. Mistakes and purposeful theft made by employees can be harmful to the success of your business.
4. Clock ins report
The time your employees clock in and clock out is another important thing to monitor closely. A clock in the report will enable you to know the time each employee reports to work and when they leave. Labor reports provide you with an insight of how your employees’ labor is translating into sales. You can incorporate biometric finger scanner that the staff can use to clock in and clock out within the system.
5. Canceled and Deleted Order Reports
To track your sales effectively, you have to do more than just know how much you sold. You also have to know about canceled and deleted orders. This will help you keep unnecessary losses at bay. Order reports will also allow you to optimize your sales and put money right back in your pocket.
6. Delivery Reports and Analysis
Delivery is a big part of the service of your restaurant. Delivery and analysis reports provide you with an outline of all requested orders that have been fulfilled and those yet to be fulfilled. Cloud reports on deliveries will also enable you to see if the drivers complete the deliveries and are optimizing their time while doing it.
7. Customer Performance Reports
Understanding what clients want and communicating with them in a way they understand is the lifeblood of any business. Customer Relationship Management is a system that will help you manage business interactions with your current and future clients. The system should be able to provide with information on your top customers and track your new clients. It should also ease the sending of custom messaging and communication between you and the clients.
These are a few of the numerous reports that you should pay attention to, and they will make you use your restaurant POS system to make smarter decisions for your restaurant.
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