EPOS systems have played a major role in helping restaurants all across the world manage their business effectively. With the help of this innovative software, restaurant professionals can manage orders efficiently, reduce errors, automate repetitive tasks, and improve productivity.
One extremely valuable feature of EPOS systems is restaurant management system reports and analytics. This feature allows you to learn things about your restaurant that aren’t always clear, helping you find new ways to improve your restaurant and increase profitability.
Let’s dive into how you can use your EPOS system’s restaurant management system report and analytics features to maximum effect.
Real-time reporting
68% of restaurant professionals regularly look at sales reports as this can help them get the maximum out of their operations. With the real-time reporting feature of EPOS systems, restaurant professionals can catch a glimpse of data as it comes in.
This information can help them monitor staff performance, inventory levels, and sales so that they can make quick decisions and make the necessary adjustments to their operations.
Also, every restaurant has different requirements when it comes to reporting and analytics. For example, small restaurants may want to get daily sales reports to see how profitable they are while bigger and known restaurants may want monthly sales reports.
Modern EPOS systems allow restaurants to get customised reports that will offer valuable insights into different aspects of their business, from sales to customer behaviour, and filter out any factors that aren’t important to the restaurant.
Sales trend analysis
78% of restaurant professionals in the UK expect their sales to increase annually. To know the direction in which their sales are going, restaurant professionals should use their EPOS system’s analytics tools to look at current sales trends.
With this information, restaurant professionals can make calculated decisions about promotions, inventory management, and menu changes.
Also, by integrating their EPOS systems with other systems, like accounting tools, restaurant professionals can get a more holistic view of their business. For example, they can connect sales data with customer management systems to get reports that hold a lot of weight.
Inventory management
32% of restaurant professionals look at menu reports to learn about the availability of ingredients for their menu items.
With the real-time inventory management features of EPOS systems, restaurant professionals can get detailed inventory reports to reduce over-ordering ingredients, prevent potential losses from unused or expired products, and maintain stock levels.
Also, with effective inventory management, restaurant professionals can ensure that popular menu items are always available and that less popular items are kept at low stock levels to minimise loss.
Employee shift management
About 45% of restaurant operators in the UK view labour reports regularly to get a clear idea of how much their staff is contributing to the business.
With the EPOS system, restaurant professionals can look at the clock-in and clock-out times of employees. This information can be valuable as it can help them make use of their employees’ time effectively to maximise productivity.
In addition, shift data can help restaurant managers set the most suitable shift timings for employees based on their situations—this can help reduce staff turnover.
Financial reports
At the moment, the restaurant industry in the UK is worth more than £80 billion and has over 3 million employees. Due to this, restaurant professionals need to have a clear understanding of their financial progress to increase their profitability.
With the help of EPOS systems, restaurant professionals can keep track of discounts, sales, profit margins, and operating costs. By understanding these metrics, restaurant owners can make critical decisions about pricing, cost management, and promotions.
Restaurant professionals could also get financial reports during certain times of the year, like the holiday season, to get an idea of which dishes sell well during that time. This can help them tailor special menus based on the demand during different seasons.
Customer relationship management
About 35% of diners in the UK are heavily influenced by online reviews when it comes to picking a restaurant—this indicates the importance of managing customer feedback.
With CRM analytics from EPOS systems, restaurants can get data on customer preferences, dining habits, and order history. This information can help restaurants make informed decisions on creating loyalty programmes and boosting customer loyalty and engagement.
In addition, the system will allow restaurant professionals to look at customer reviews, which can be valuable for identifying potential gaps in performance and areas for improvement.
Get the best out of restaurant management system reports and analytics
An EPOS system can be a powerful asset for any restaurant. With this innovative software, restaurant management can be made easier than ever and through restaurant management system reports and analytics, you can learn more about your restaurant, fill performance gaps and make improvements to your menu.
Get in touch with WITMEG today to access game-changing restaurant EPOS systems and experience the benefits of insightful reports and analytics for your restaurant.
FAQs
What financial metrics should I pay close attention to?
Important financial metrics that you need to pay close attention to include:
- Sales
- Cost of food
- Labour costs
- Prime cost
How can reports and analytics help me build a good menu?
The EPOS system can tell you which foods are worth investing in. For example, foods that are expensive to make but don’t sell well are not worth keeping on the menu. However, items that sell well, even though they’re expensive to prepare, make more sense to stay on the menu.
How can I leverage EPOS analytics for the long term?
You should continuously evaluate your KPIs, make use of new updates to the software and integrate new technology into the EPOS system whenever you can.