iiko Food & Beverage ePOS Software Suite
We are delighted to have achieved business partner status with iiko Food & Beverage ePOS software.
Are you are looking for a true enterprise based solution?
Please call us on 0333 050 7327 to discuss how iiko can help with your Management process and increase that all important bottom line!
Food & beverage businesses often walk a financial tightrope — with a tight 10% bottom line margin that’s under constant pressure. Working with our consultative approach we can advise on solutions beyond the POS making it possible to double this figure and put your operation on a firmer footing through key changes.
When the slightest operational mistake or miscalculation can have major implications — anywhere across your F&B operation — you need to be able to forecast and plan accordingly.
Many businesses lack the right information to make accurate decisions quickly.
So how can F&B businesses transform a shaky 10% bottom line margin into a consistent 20%?
To begin the process, you need to focus on your Profit & Loss (P&L) and its two major expense accounts: Cost of goods sold (COGS) and Payroll.
Let’s see how these are built and what can be changed and how a new breed of next generation ePOS powered by iiko from epos-tills4less can reduce costs to double your margin?
Opportunities using our next generation iiko POS Solution.
|Typical casual dining establishment||Share of revenue spent – before POS||Share of revenue spent – after POS||Impact on margin|
|Margin achieved||10%||20%||+10% saving|
|Figures based on global research, 2020|
Saving around 7% on COGS
Theoretical food and beverage costs can represent around 32% of total expenditure. But this can be reduced to 25%, and has been demonstrated by businesses globally that have used their new breed of ePOS solution as a Business Intelligence (BI) tool, rather than a cash register to take money. Here’s how it’s done …
Tackling waste can save you around 4-6%: By implementing real-time controls, every ingredient can be tracked from arrival. You can check your inventory at any of your sites, moment by moment. Your POS will tell you what needs ordering —nothing more, nothing less. In fact, it’ll order for you automatically if you wish. Prep plans are created using artificial intelligence-based sales forecasts. Portion sizes are regulated carefully too. Every human action is guided and measured — but in a way that makes life faster and easier for your staff. Put simply, the whole process allows no room for guesswork and human error.
Controlling supplier prices and playing with recipes can save you 1-2%: Even if your staff doesn’t remember how much they normally pay for supplies — your POS can act as your financial watchdog. There’s zero chance of prices being hiked by a supplier and then accepted without your approval. You’ll also get a sense of the cost of ingredients for each dish and how to make them more profitably with some adjustments, so your menu delivers stronger margins.
Reducing payroll costs by around 2%
Employee expenditure may seem too difficult to address. But with a next-generation EPOS solution from epos-tills4less, you’ve got the right tools to address your labour costs and lower by 2-4% — without impacting quality or customer service. There are three areas to focus on right away:
Management time: Your managers can avoid spending hours trapped in the back office pouring over spreadsheets — and more time adding real value elsewhere. The system is optimised to save them time by automating and optimising virtually every aspect of staff management, from storing staff contracts to maintaining attendance records.
Smarter scheduling: Using accurate financial forecasts, your POS knows precisely the days and hours when you’ll need more people on duty — so staff won’t be sitting idly during quiet moments or unable to serve enough customers at busy times. With a powerful schedule builder, you can also copy reoccurring shifts and set shift overlaps to provide the right levels of cover.
Staff incentives: It’s possible to increase employee productivity dramatically with incentives programs within your ePOS — for front and back of house teams. For example, a waiter could receive a percentage of sales for a particular item, while a chef could receive a bonus for sales of a profitable new dish. Behind it all, you’re sharpening their performance with incentive programs to boost your bottom line.
Cutting other costs by 1%
With the right ePOS, any expenditure across your business becomes visible — from the cost of non-food consumables, through to staff uniforms, in-store repairs, and IT maintenance. There’s no room for unusual, one-off costs to slip under the radar.
With COGS, payroll, and other costs under control through your ePOS, your margin can double.
With the right tech, your margin is safe
The beauty of a new breed EPOS solution is that its all-in-one. There’s no clunky integration between ill-fitting apps and legacy back-office programs. Instead, the iiko next-generation solution from epos-tills4less is designed to fit the F&B world effortlessly. It covers the nature of the business and all its nuances, so 100% of your costs can be brought under control.
Everything that moves and breathes across your F&B operation is recorded in near real-time. So you’re not waiting for your staff to complete the numbers, or an accountant to provide you with the figures. Instead, you get actionable, up-to-the-moment data that allows everyone to make the right decisions to protect your margin.
The fine line between failure and success
Dealing with those small-but-critical percentages can be the difference between failure and success. With your inventory operating in real-time, you’ve got the controls to take matters into your own hands.
At epos-tills4less, our experience and knowledge are key to providing you with the solution that fits your business requirements. As an official iiko Business Partner, our consultative approach not only helps you manage your day-to-day operations but provides you with the tools to remain profitable and effective in an ever-changing market.
Call us today on 0333 050 7327 for a no-obligation initial discussion.