The restaurant industry always is evolving to adapt to the ever-changing palate of consumers. Thousands of different restaurants crowd the marketplace, and they’re constantly concocting new dishes and cuisines to excite our eyes and our stomachs.
Although this is amazing for consumers, it means competition is fierce. Escalating operational costs keep a constant strain on the bottom line. That’s why it’s critical to stay on top of daily reports from your restaurant POS system to ensure that any losses can be recorded, analyzed and controlled. Here are the five, most-important restaurant POS reports to better assess performance:
- Employee Sales Performance – helps recognize and reward high achievers while also identifying employees who are underperforming. At first glance, you might think that your employee with the highest net sales is your best employee, but that may not always be the case. Any good reporting package should let you easily cross check net sales, percentage of sales and amount of checks. Then you can identify who just landed the big spending table and who worked across multiple tables, keeping large numbers of customers happy and spending.
- Menu Item Report – helps provide information on items that are selling well and others that may need to be placed on the chopping block! This report can revolutionize how you hold stock, placing the focus on not only the best sellers but also the items with the highest profit margin. This can help ensure that you never run out of best-selling or highest-profit items, and that you never over order your underperformers. This simple report easily helps you maximize shelf space throughout your restaurant and bar.
- Employee Control Report – shows how many error corrects, voids and discounts each employee is making. Managers need to be aware of “normal” levels of each activity in their locations and what should spark concern. Error corrects should be marginal in comparison to net sales, and anyone showing above a 5% threshold needs a deeper dive.
- All Checks Report – provides a break-down of all the checks an employee puts through the system during a shift. This report is a quick way to check that employees do not have big differences compared with their colleagues – for example, abnormal levels of discount use, error corrects or sales percentage. Any patterns quickly stand out, and I always found that patterns in something like a low-value transaction needed further investigation as it could indicate an employee is selling a high-value item but recording a low-value one.
- No Sale Report - in today’s market there should be little need for the use of the “no sale” function on a point of sale; management should closely consider who really needs accessibility to this function. As society lessens its dependence on cash, the necessity of the no sale function should follow suit. If an employee needs to retrieve change, which may happen once a shift, the time taken from the till to the safe and back again should coincide with the time taken between the uses of no sale. Any odd no sales or frequent no sales need investigation.
All of these reports can be run on individual sites or across multiple sites from your point-of-sale system. Staying on top of POS analytics every day makes trends easy to spot, issues easy to highlight and concerns easy to eradicate. These simple reports can boost performance and ensure you are receiving the best from your employees.
Check out our recent blog posts to learn more about Oracle MICROS POS and its extensive capabilities.