In addition to the series of modules and functionalities introduced in the previous blogs, FOODIVAL also provides a wide array of reports and efficient management dashboards. These tools help integrate various data and analyze business trends through different appealing and easy-to-read charts, empowering F&B owners to gain deeper insights into their business performance and monitor operations over time. Meanwhile, FOODIVAL incorporates a wide variety of standard reports, allowing the procurement department to extract useful data to generate necessary reports with just a few clicks. This helps restaurants save considerable time and effort on manual work such as collecting and consolidating data each month, which significantly improves work efficiency and strengthens data analysis capabilities of the procurement department.
In addition, the system seamlessly integrates with the third-party analytics tool, Power BI, which helps automatically update operational data from various data sources on a daily basis. Data may include ingredient procurement, inventory levels, stock movement, inventory value, recipes, sales, payroll and more, allowing users to analyze these operational data from multiple perspectives with greater flexibility and depth, preparing them to make data-driven business decisions!
Diverse Reporting
FOODIVAL comes with over 50 built-in basic reports, including monthly store report, procurement summary report, monthly inventory balance report and wastage report. Simply select the required data and time period and FOODIVAL will automatically extract relevant data and generate the appropriate reports. This feature not only saves employee’s time in collecting, consolidating and applying complex formulas to organize various data, but also enhances the accuracy and reliability of the reports. Moreover, FOODIVAL allows users to create more targeted and specialized reports by using the pivot tables function, further improving operational efficiency.
Management Dashboard
Apart from standard reports and built-in reporting tools, FOODIVAL’s interactive dashboard also helps restaurants integrate and analyze data related to procurement and inventory management, such as procurement costs, wastage, stock value, supplier analysis and more. This allows management to easily monitor all major data and performance metrics in one consolidated interface. By incorporating a wide variety of presentation charts into our dashboards, FOODIVAL enables management to consolidate and analyze different data trends more efficiently and effectively.
Cost Analysis & Comparison
In addition to the procurement and inventory data recorded and processed by FOODIVAL, the system can integrate with third-party POS systems to regularly extract and consolidate sales data for analysis. By comparing and analyzing sales data with procurement, recipe and stock-take records, the system can easily determine the ideal and actual dish costs for each outlet. This helps management gain a deeper understanding of the restaurant's procurement costs and profits, allowing them to adjust purchasing and sales strategies based on cost effectiveness, and ultimately increasing overall profitability in the long run.
Connection with Power BI For Comprehensive Analysis
If F&B owners require a more in-depth and multidimensional data analysis, they can opt for FOODIVAL's latest Power BI Dashboard which automatically updates restaurant's daily operational data from various data sources. This includes information regarding ingredient procurement, inventory levels, stock movement, stock value, recipes, sales and even payroll data, providing a broader, deeper and more comprehensive analysis.
For instance, in terms of labor and ingredient expenses, the Power BI dashboard can display ratios related to profitability and manpower costs. This includes metrics such as monthly ingredient profit, average daily sales revenue and the proportion of monthly labor costs relative to total expenditures, helping the management understand the actual operational efficiency and performance of their business. Additionally, by integrating sales data from the POS system, Power BI can analyze the actual profitability of each dish based on FOODIVAL's e-recipes and procurement data. By presenting the profit and sales distribution of each dish using an XY scatter plot, Power BI allows F&B owners to quickly identify “star products” that are both popular and profitable while eliminating dishes that are neither selling well nor generating profit. Based on this data, they can develop new sales strategies by boosting the sales of profitable products that are underperforming.
In today’s challenging and fast-paced F&B business environment, if you wish to find a suitable cost-saving solution to improve operational efficiency, increase revenue and enhance business performance, you must first strengthen your data analytical capabilities in order to achieve effective “data-driven decision-making”! If you are interested in learning more, please click here to contact our system experts for a free system consultation.
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