Analytics is an interesting word.
When you talk about analytics, there are figures and charts. In the restaurant industry, restaurant analytics refers to a restaurant’s sales, income, taxation, and inventory. And, no wonder you can keep an eye on your restaurant’s analytics by integrating POS billing software.
Do you know?
“78% of restaurant owners check their restaurant statistics every single day in the US.”
Today, we are here to help you understand how to keep a watch on your restaurant or coffee shop’s analytics with the help of POS billing software for restaurants.
So, let’s begin discussing the same.
What is restaurant analytics?
In simple terms, restaurant analytics refers to analyzing your restaurant’s different operational and financial data, including the sales insights, kitchen and F&B inventory, taxation reports, income reports, and expenses.
The restaurant manager helps the owner with the restaurant analytics report that is derived with the help of an operational and financial reporting software like Moon POS. Our POS billing software helps restaurant and cafe owners identify the overall business scenario with the help of various business reports.
Restaurants can make major decisions like expansion, closure, hiring, investment, innovation, loan, and purchase by going through the restaurant analytics. It is an important tool or report for helping the restaurant owner determine its current position.
Why does your food outlet need restaurant analytics?
When running a restaurant or a food outlet, you sell many dishes at different prices and tastes. The owner needs to know the best-selling dish to attract more customers. Best-selling dish is one of the examples of restaurant analytics, which can be determined with the help of POS billing software. In short, the restaurant analytics or various business reports help the owner get a clear vision on the menu items, most selling items, least selling items, customer feedback, frequent out-of-stock items, and much more.
Multi-chain restaurant owners
When it comes to managing more than one restaurant, it is best to integrate POS billing software for restaurants. Multiple restaurant owners or restaurant chain owners can bring ease to the ongoing operations with the help of accurate restaurant analytics.
A POS billing software will help the restaurant owner to have the major analytics and data in one place. All the different food outlets and their efficiency can be measured or analyzed using a single software. It not only saves time but also helps the restaurant owner in making accurate business decisions. Moreover, integrating a single software proves cost-efficient for the restaurant owner running a chain of food outlets under a single brand name.
At the end of each quarter, when you want to find out the most-selling and least-selling item or your restaurant’s cuisine, you will search for the item-wise sales report using the POS billing software. It is one of the examples of using restaurant analytics. Later, a restaurant owner can update their menu by eliminating the least-selling menu items to something more tasty and healthy.
Restaurants charge 5% GST on food bills to the customers, which needs to be filed regularly. Restaurant analytics and business reports are also helpful in getting the exact GST amount for the particular month or quarter for paying timely tax.
Financial reporting software like Moon POS helps you compare your sales to the total counter. It helps you tally your financial figures with the dishes sold and helps you check the updated inventory list.
Leveraging the power of restaurant analytics
Installing financial reporting software for getting your restaurant’s data isn’t enough. You need to leverage the data and its power regularly for making accurate business decisions. You can ask the restaurant manager to take proper training for utilizing the POS billing software. There are ultimate benefits of using a POS billing solution for restaurants when you feed the right information in the app to leverage restaurant analytics data.
Reasons for downloading POS billing software
Let’s discuss some of the benefits of integrating POS billing software to leverage the power of restaurant analytics.
- Boosts profitability of the restaurant or chain of restaurants (minimum 10%)
- Helps to sync the inventory and other operational details of single or multiple restaurants via a single dashboard.
- Increased productivity
- It helps to identify the blind spots of your restaurants by revealing accurate business reports
- Helps feed employee data, including attendance and performance
- Easily gives you the data of in-dining and food delivery services
- Helps to file the tax reports
- Detailed menu analytics with item-wise and category-wise sales reports
Start using restaurant analytics for expanding your food outlet
While you are launching a new cafe or restaurant, you must consider integrating a POS billing software for a restaurant for experiencing seamless operational efficiency. Nevertheless, the restaurant analytics or business reports derived from a POS billing solution helps restaurateurs to make smart business decisions, including expansion, purchase, and hiring.
Also Read: 7 Features Your Restaurant POS System Needs
How about trying Moon POS?
Moon POS is a fully-functional POS billing software for restaurants and retail. The smart billing solution easily integrates with your single or multi-chain restaurant outlet, offering menu analytics, business reports, tax reports, quick billing service, time-tracking, stock and inventory, powerful integrations, barcode integration, and much more.
It is designed to simplify your restaurant’s ongoing business operations, thereby helping you drive more sales. So, what are you waiting for? Sign up with Moon POS with the seven-day free trial offer. Start integrating all the important details of your restaurant with the POS billing software to leverage the power of analytics.
For any queries related to our POS billing solution, please connect us at firstname.lastname@example.org. We are just a call away!