Restaurant Management Software- Is It Worth It?
What is Restaurant Management Software?
Restaurant management software (RMS) is a type of software that helps restaurants manage all of the business operations that take place behind the scenes. It allows restaurant owners to spend more time actually running the restaurant and less time on the business end.
Restaurant software provides several features to assist with the business operations of a restaurant. Many of those features are automated which really translates to less time, less math, and less room for human error.
Restaurant management software should integrate with the restaurant's point of sale (POS) system to ensure maximum benefit as well as to ensure that there is no room for error or data corruption when moving the data into the RMS. A POS system is just one form of restaurant management software, but it only manages sales activities.
Another type of restaurant management system is known as an end-to-end system. It includes everything- POS, inventory control, customer relationship manager (CRM), employee management, menu management, order and payment management, tech support, and reports, and analytics.
While it is a fully comprehensive system, it is often the most expensive, but it brings a lot of value to a restaurant because of the data it allows the restaurant to track and analyze.
Many restaurant management software providers may offer plans that allow their clients to choose the features they need most and then add features later if their needs change.
For smaller restaurants, an iPad or Android tablet app can be robust enough to include the only features you need such as accounting, employee scheduling, payroll, menu, reservations, and inventory. It may still have the ability to implement third-party integrations, similar to a CRM. Most apps will also include reports.
An online ordering system is another restaurant management software. One popular example is GloriaFood. When choosing an online ordering system, it is important to make sure that it can be integrated with the main RMS being used or that the data stored within the online ordering system can be easily exported and imported into the main RMS so that it isn't missed.
Restaurant finances and accounting are also key parts of RMS. If a restaurant doesn't understand its profits, losses, sales, and expenses, it is extremely difficult, if not impossible, to run a successful restaurant.
Restaurant management software enables restaurants to track this information while automating all of the math. It makes it much easier to analyze the financial health of the business.
Last, but certainly not least, RMS can also be used to manage important management systems like payroll and employees. Employee management tools often include the ability to track attendance, monitor timesheets and productivity, monitor overtime, review employee details, and handle payroll or integrate the chosen payroll software.
Benefits of Restaurant Management Software
There are many benefits to choosing and using the right restaurant management software to meet the needs of your restaurant. The benefits include-
- Less room for human error- No one likes a mistake when it comes to their paycheck. Having the right information for payroll is just one of the many areas where data is crucial.
Proper data for inventory control as well as for scheduling are two more important areas for determining restaurant profitability.
- Less time spent manually running the numbers- Restaurant management software allows restaurant owners and managers to spend less time manually dealing with the numbers.
RMS generally includes its own accounting, payroll, and inventory management software or it integrates with the most popular options. This allows for the various accounting needs to be automated and performed by the software.
- Improves customer experience- Properly chosen and implemented RMS options provide a better customer experience. Keep in mind that some options, such as an online ordering system, are used by the customer.
Others, such as the ticketing system, may be used in-house but may still directly impact the customer experience if the software or system is too difficult or time consuming for employees to use.
- Provides a better accounting of supplies- The RMS allows employees to better track ingredients and other restaurant necessities to ensure that inventory is accurate.
Restaurant management software is certainly worth the investment because of its features and benefits-
- An RMS can help restaurants track sales and supplies.
- An RMS can have management features with inventory management tools, accounting software, payroll, and HR.
- A POS, online ordering system and an end-to-end system are a few examples of restaurant management software options, but this is not an all-inclusive list.
- There are many benefits to using restaurant management software. This includes saving time, fewer human errors, improving the customer experience, and keeping better track of inventory!
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