4 ways your POS reporting isn’t cutting it
Much like you need water to survive, you need a solid POS system to run a restaurant. If you run one or more QSRs, then you depend on a POS system to keep track of your financials. But, is your POS reporting giving you all the data you need to run your business effectively?
No matter how much information you pull from your POS systems, it’s still limited. There’s so much more data available in your other systems, which is why above-store reporting is necessary to get the complete picture. Here are four ways relying on POS reporting alone just isn’t enough.
1. Lack of accessibility
When you first started your business, your reporting needs were probably pretty simple. As you started growing, reports became more complicated and the moving pieces kept, well, moving. Now, you need to be able to access your data from anywhere, so you can make informed decisions at the drop of a hat.
Unfortunately, POS systems often export to multiple locations and don’t give you a centralized report that’s readily available.
2. Lack of context
Another problem that QSR owners face when analyzing their reports is a lack of context. How many hours will it take to figure out how discounts, coupons, deletions, and cancels are affecting inventory?
While you can still find context by swimming through pages of reports and connecting the dots, wouldn’t it be better if your system did it for you? When your POS system provides context, you’ll have more time for strategic planning and implementation.
3. Multiple disconnected reports
QSR owners can quickly become inundated with reports when they’re operating multiple locations. But, you want to find relevant data quickly in order to draw useful insights and make good decisions.
Viewing all your restaurant’s reports in one place can save you and your management staff precious time. It will also prevent you from introducing errors when you piece the information together.
4. Where are my employee metrics?
Another hole in the POS system is the ability to rank and compare employee metrics. As a business owner with many employees, it’s important to know the best way to make the hard decisions. A good staff is key to running and growing your business, and employee metrics are essential to doing it.
Using rack and stack metrics gives you another advantage as well — the ability to incentivize great work across your organization. Hosting performance-based contests can help improve performance and morale among your employees.
So, we’ve talked a lot about the problems, but how do you fix them? Above-store reporting can make the difference. It can connect your reports, give you context, and make data available no matter where you are. It gives you robust comparison tools that allow you to compare sales and figures across stores, areas, and brands. Below are some of the advantages above-store reporting has to offer:
- It’s remote, and available anywhere in the world.
- Owners, operators, and multi-unit supervisors can access and review their entire group on one report.
- Rack and stack metrics help with team reviews and allow for performance-based contests.
- Metrics are easy to find, and it’s easy to compare how one set of results affects another.
- Above-store POS/BOH system reports for inventory are great tools for above-store use, covering sales, inventory levels, transfer activity, cost of goods, and ideal cost variances.
So, don’t just settle for POS reporting when you could be reaping the benefits of above-store reporting, too. The more organized and consolidated your information, the better.