xtraCHEF, a cloud-based restaurant management platform that offers best-in-class Accounts Payable (AP) automation alongside back-of-house business and operational intelligence, has announced its latest product release featuring a state-of-the-art Restaurant Inventory Management solution. The company has combined the power of its industry leading data extraction technology with a simple, easy-to-use interface to provide restaurant operators a new way to manage inventory.
“Many of the restaurant inventory and ordering systems in the market today require significant manual upkeep and maintenance in order to represent an accurate reflection of inventory values,” said Bhavik Patel, Co-founder and CTO of xtraCHEF. “By leveraging xtraCHEF’s core data extraction technology, we are able to monitor price fluctuations and modify inventory values in real-time with zero manual intervention.”
What differentiates xtraCHEF’s Inventory Management and Purchasing products is that it leverages the customers’ own purchase data to automatically update inventory values based on a configurable algorithm of the most recent purchase prices. It’s also simple to set-up and easy for operations teams to use.
Customers can leverage xtraCHEF’s new and improved Product Catalogue that is populated automatically by the invoice line-item digitization process performed by xtraCHEF’s flagship AP Management product. Restaurant staff take inventory counts in an optimized, drag-and-drop user interface accessible on any desktop, tablet, or mobile device (iOS or Android).
“Getting accurate inventory in a restaurant is challenging and time consuming,” said Patti Ward, Director of Product for xtraCHEF. “We’ve built a tool that is not only valuable to finance and executive teams to manage accurate Profit & Loss Statements, but one that operations teams will love to use.”
User-friendly features include shelf-to-sheet set-up and count sheets that can be used on mobile, offline, or printed on paper. The inventory management module will be seamlessly integrated with xtraCHEF’s Purchasing and Order Management module.
This allows users to quickly and easily place orders to their vendors in just a few clicks. xtraCHEF automatically creates Purchase Order Guides based on the difference between existing inventory counts and par levels. Purchase history data is readily available to aid the operator in the procurement process.
xtraCHEF’s state-of-the-art Inventory Management module will enable customers to save time, reduce waste, and improve profits. Beta customers for xtraCHEF’s new Inventory Management feature have already experienced more than 60% reduction in the time it takes to prepare and execute inventory.
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