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The Orderly Blog

Your weekly dish of restaurant tech, ops efficiency & food purchasing trends

 

7 Restaurant Accounting Questions You Should Be Asking

Posted by Levi Morehouse on Dec 29, 2016 11:23:47 AM

 

Did you know that 46% of all small businesses fail because of bookkeeping errors?

Would you believe that cash flow problems wipe out another 82%?

And that overall, restaurant industry sales are down 1.3%?

These stats are no joke.

They prove that good bookkeeping and accounting processes are must-haves for keeping your restaurant alive.

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Topics: Operational Efficiency

7 Reasons Why Spreadsheets Are Not Restaurant Inventory Software

Posted by The Orderly Team on Dec 16, 2016 8:00:00 AM

If someone came into your restaurant and took cash out of the drawer, would you take action?

Of course. That’s your money!

Well, if you’re still using a spreadsheets instead of inventory management software, you’re actually stealing from yourself.

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Topics: Technology

5 Critical Mistakes You’re Making with Your Restaurant Accounting

Posted by William Lee on Dec 5, 2016 2:15:00 PM

How do you know your restaurant’s doing well?

You’ve got a waitlist every night…

People leave GOOD reviews on Yelp…

Your staff seems happy…

Yes, these are all reasons why you may think you’re running a healthy business. The problem is… they don’t necessarily mean profits are up.

The one way to tell if your restaurant is doing well?

Looking at your books regularly.

The truth is, if you don’t take your restaurant accounting seriously – seeing exactly where your money is going and why – you’re most likely headed towards disaster.

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Topics: Operational Efficiency

The 2017 Guide to Restaurant Inventory

Posted by The Orderly Team on Nov 16, 2016 9:05:00 AM

Would you believe that 16% of your food ends up in the trash?

What if I told you that 75% of your employees steal from you and it represents a staggering 7% of your total revenue every year?

And do you know restaurants that take regular inventory can increase profits by up to 24% a year?

Those are some pretty shocking numbers. And they certainly underscore the reason your restaurant should be taking regular inventory... theft, waste, operational efficiency... and profits.

Yeah, there's a real reason... or a few... to make sure you take inventory and get it right.

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Topics: Technology

5 Little-Known Ways to Hack Restaurant Inventory

Posted by Andrew Jaffee on Oct 28, 2016 9:14:28 AM

Hacking inventory is a little like baseball's OPS... stay with me and I'll explain.

Any avid baseball fan will tell you how important the trendy new hitting statistic OPS (a combination of slugging and on-base percentages) is to gauging a player’s offensive success.

In the restaurant industry, there's a similar combined statistic that gives you an immediate sense of the success of a restaurant... Prime Cost. The components of this powerful metric are Cost of Goods Sold (COGS) and Total Labor cost.

In the case of OPS, the higher the number the better the player. But in the case of Prime Cost, it's the opposite. This stat is more defensive in nature... so you want to drive it down.

While labor is an equal contributor to Prime Cost, it’s harder to control based on business circumstances compared to COGS. That’s why this article is focusing on the best defensive weapon you have to keep COGS under control and lower Prime Cost… taking inventory.

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Topics: Operational Efficiency

Orderly Releases Do-It-For-Me Invoicing & Inventory App for Restaurants

Posted by The Orderly Team on Oct 19, 2016 11:52:18 AM

restaurant managers are ditching manual processes with this free mobile app

ATLANTA, GA -- Orderly (www.getorderly.com) announced the launch of the Orderly App (www.theorderlyapp.com) a free invoicing and inventory app. Restaurants can now use the mobile app to capture, manage, and share invoices online and to take a complete inventory and get Cost of Goods Sold with no spreadsheets or data entry.

Starting today, Android and iPhone owners can use the Orderly App to go paperless with their invoicing, automate their accounting, see price trends and food spend, and manage inventory, all from the palm of their hand.

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Topics: Technology

3 Tips for a Quick & Painless Inventory Process

Posted by The Orderly Team on Oct 5, 2016 2:10:31 PM

Let’s face it: restaurant inventory management is not what lured you into the business.

But are you allowing inventory to be more painful than it needs to be?

Maybe this is familiar... “OK, team,” you begin in a cheerful and hopeful tone. “Who wants to volunteer to do restaurant inventory?”

And, perhaps unsurprisingly, your query is met with oppressive silence and lack of direct eye contact.

Typically, restaurants allocate between 25 - 35% of its operating budget to purchasing food. Proper inventory management with an eye toward limiting food waste can stretch a significant portion of your regular expense budget.

Still, no matter how much money it saves… no one really likes taking inventory.

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Topics: Operational Efficiency

[Infographic] 6 Shocking Stats You Didn't Know About Restaurant Technology

Posted by Joy Ugi on Sep 13, 2016 1:00:00 PM

Technology is the new normal, isn't it?

It may seem like technology is a part of our daily lives, but that's not actually the norm yet in the restaurant industry.

A recent report from The National Restaurant Association covered the state of technology in the industry... and its slow adoption is eyebrow-raising.

Certainly there's no lack of technology... restaurants have a veritable smorgasbord of apps and software to choose from. In fact, in May 2016 alone there was an influx of $115 million of funding into the restaurant technology landscape.

So why aren't independents and chains embracing apps and tech that could help them?

To address this head-scratcher, we created this infographic breaking down 6 of the most shocking stats from the NRA's comprehensive survey of the industry.

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Topics: Technology

How You Can Score Big with Free Restaurant Apps

Posted by Joy Ugi on Aug 19, 2016 3:20:26 PM

Apps play a crucial role in our lives... from Grandma's Instagram to your teenager's Snapchat... and hundreds of restaurant-specific apps.

In fact, Apple reports there are 2 million apps now available on the App Store to download. These apps represent the acceleration of a way of life that barely existed five years ago. The reality that we're so attached to our apps isn't really that surprising, though...

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Topics: Technology

The 4 Supplier Truths No One's Talking About

Posted by Joy Ugi on Aug 1, 2016 5:37:26 PM

Suppliers. 

You work with them on a daily basis. In fact, you might spend more time on the phone with them than anyone else. They're your one, all-important way to make sure your restaurant is properly stocked... without them and the products they provide, you'd be out of business.

We've worked with thousands of restaurants across the U.S. over the past two years, and if there's one thing we know, it's that you love your suppliers. We also know that both you and they run businesses... and that your separate goals can make your working relationship tricky at times.

Read More

Topics: Supplier Relations

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